Aptly named Alchemy Pay helps turn your cash into digital gold. This payment solutions provider is a fiat gateway accepting over 50 fiat currencies through more than 300 payment channels. Alchemy Pay supports buying crypto in over 170 countries, plus off-ramping feature to cash out crypto to bank accounts.
How to Buy Crypto With Alchemy Pay
Using Alchemy Pay’s widget on their website or through a centralized exchange will let you choose your payment currency and receiving crypto. Then, you can select a payment method which will depend on your country and currency.
When buying on Alchemy Pay website, purchased crypto will be deposited to a blockchain address, typically your personal decentralized wallet. Alternatively, you can use the service through a CEX to make sure funds are deposited directly into your exchange balance.
Supported Payment Methods
Alchemy Pay supports Visa, Mastercard, Google Pay, Apple Pay, and various bank transfers. In total, Alchemy Pay claims to support over 300 fiat payment channels, but in reality we only found a couple dozen viable payment methods.
- Global: Visa, MasterCard, JCB, UnionPay International
- Indonesia: Wallets(OVO, Dana), VA Transfers (Permata, CIMB, Mandiri, BRI, Danamon), QR Code
- Thailand: QR Code
- Vietnam: Bank Transfer (C2B), Wire Transfer, MOMO, ZTpay
- United Arab Emirates: Ban
- Brazil: PIX
- Philippines: GrabPay, Maya Pay, BPI (Bank Transfer), Coins.ph
For example, you can use InstaPay, BPI and several other methods in Philippines. In Indonesia, you can use OVO, Dana, QRIS, LinkAja, and even more methods. Similarly, you can use PIX in Brazil, or Neteller and Skrill in Turkey and some other countries.
Some local payment methods will be available depending on your country, but bank cards are available in all. For wire transfers you can only use SWIFT. However, this option will not be available in all countries.
Minimum purchase amount per payment is 15 USD, with a maximum 2,000 USD per transaction (or equivalent in other currencies).
Fees
Alchemy Pay will let you deposit purchased crypto into any wallet, meaning blockchain transaction fees will be charged. To avoid or reduce fees, using the service directly on a centralized exchange is recommended. Furthermore, make sure to buy assets with cheaper transaction fees such as USDT or USDC ($1 fee), as Bitcoin and Ethereum often have high fees.
Buying crypto with most methods including bank cards or wire transfers has a 4% fee. Some local payment options may be cheaper. In addition, a 1% spread will be applied, typically bringing the total fee to 5%.
Some fees are displayed on this page, but Alchemy Pay doesn’t have a clear breakdown of exact fees per country or payment method. Using their widget and selecting currencies is the best way to find exact transaction fees and costs. Total cost and receiving amount will be displayed before purchase confirmation, but may require creating an account or even completing KYC.
Supported Fiat Currencies
| Currency Code | Currency Name |
|---|---|
| USD | United States Dollar |
| EUR | European Union Euro |
| JPY | Japanese Yen |
| GBP | The British Pound Sterling |
| IDR | Indonesian Rupiah |
| MXN | Mexican Peso |
| THB | Thai Baht |
| VND | Vietnamese Dong |
| AED | United Arab Emirates Dirham |
| KRW | South Korean Won |
| PLN | Polish Złoty |
| RON | Romanian Leu |
| SEK | Swedish Krona |
| DKK | Danish Krone |
| MDL | Moldovan Leu |
| CHF | Swiss Franc |
| KZT | Kazakhstani Tenge |
| NZD | New Zealand Dollar |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| TWD | New Taiwan Dollar |
| BGN | Bulgarian Lev |
| MYR | Malaysian Ringgit |
| BRL | Brazilian Real |
| NOK | Norwegian Krone |
| MKD | North Macedonian Denar |
Using a local currency to deposit is usually best. This way you can avoid additional currency conversion fees charged by your bank or card processor.
Supported Cryptocurrencies
You can buy over 200 cryptocurrencies on Alchemy Pay. All the popular assets will be available. For off-ramping (withdrawing crypto as fiat) you can use fewer currencies, but commonly used coins such as Ethereum, Bitcoin, USDT, USDC, and few others are available.
It’s important to note that using Alchemy Pay through a centralized exchange with integration will let you buy many more crypto assets. Typically, you will be able to choose any currency supported by that exchange.
Supported Countries
On a centralized exchange, Alchemy Pay often won’t even show up as a payment gateway unless you are in a supported territory. This makes things simpler.
Alchemy Pay is available in United States, Canada, and Australia, but not United Kingdom. Other major markets where the service lets you buy crypto include Nigeria, India, Singapore, Hong Kong, Nepal, Bangladesh, Japan, and entire EU.
Restricted countries:
North Korea, Russian Federation, Eritrea, Iran, Ukraine occupied territories, Afghanistan, Cuba, Belarus, Libya, Syria, Burundi, Central African Republic, Democratic Republic of Congo, Côte d’Ivoire, Republic of Guinea, Republic of Guinea-Bissau, Lebanon, Republic of Mali, Myanmar, Nicaragua, Somalia, South Sudan, Sudan (North), Transnistria, Occupied territories of Georgia, Northern Cyprus, Western Sahara, Ambazonia, Kosovo, Venezuela, Iraq, Yemen, Zimbabwe, United Kingdom (UK), Palestine.
Current list can also be found on Alchemy Pay website here. This fiat gateway has mandatory KYC, so using it to buy crypto from unsupported countries will not be possible. To complete KYC, you will need to provide your name, address, date of birth, and upload a photo of your national ID, passport or driver license. Unless there’s a problem, your KYC will be confirmed within minutes.
Off-ramp Options
You can also use Alchemy Pay to off-ramp your crypto, i.e. convert crypto assets into fiat currency deposited to your bank account. To complete a withdrawal, swap to “Sell Crypto” on their widget, and input your SWIFT bank account details. You will see a blockchain address where you need to deposit your cryptocurrency. Once blockchain processes your funds, you will receive fiat to your bank account within 72 hours.
Fees will be displayed on the widget, and are typically 4% to 5.5%. Aside from SWIFT, there are no other withdrawal methods available.
Is Alchemy Pay Safe?
Alchemy Pay has hundreds of partners in traditional finance and cryptocurrency. Of major crypto exchanges, they are partnered with OKX, Bitget, CoinW, LBank, Bitrue, BingX, MEXC, Crypto.com, Coinbase, KuCoin, Bybit, BitMart, and more.
Company was founded in 2017 in Singapore, and has been providing safe and trusted onramp and offramp payment services since. With countless partnerships by trusted and reliable companies, there is no reason to think Alchemy Pay is unsafe.
Most recently in Jan 2025, Alchemy Pay obtained regulatory approval and license by Australian AUSTRAC. The company is also registered as a Money Services Business with FINTRAC in Canada, and has eight Money Transmitter Licenses across United States (Minnesota, Oklahoma, Oregon, Wyoming, Arkansas, Iowa, New Hampshire, and New Mexico).
Conclusion – Is Alchemy Pay Good?
Alchemy Pay has perhaps the largest number of supported countries and payment methods compared to other fiat gateways. The platform isn’t any more expensive compared to other fiat gateways, as their 4% fees with 1% spread for most purchases are in line with competitors. However, it is possible to find cheaper deposits if you use an exchange such as Binance, Bybit or Gate.io with direct deposits without 3rd party gateways.
Alchemy Pay provides a convenient and easy to use fiat to crypto conversion service trusted by many companies. You can use it as a gateway in nearly every country, and their services are quick and safe.
