RedotPay Service Overview
RedotPay is a comprehensive fintech platform that enables everyday payments and remittances with cryptocurrency.
Users can use their dedicated cryptocurrency card to pay for cryptocurrencies directly at over 130 million Visa merchants worldwide, with cryptocurrencies paid out immediately without the need for a separate currency exchange.
RedotPay supports major cryptocurrencies and stablecoins such as BTC, ETH, USDC, USDT, and allows you to deposit assets from multiple blockchain networks such as Solana, Polygon, BSC, Tron, and Arbitrum.
It also features a single account to manage multi-currency wallets, real-time conversion between crypto assets and fiat currencies, and onramp/offramp (deposit/withdrawal) functions all in one place.
We provide services in over 158 countries around the world, and new users can immediately issue a virtual card and apply for a physical card after installing the app, creating an account, and completing KYC identity verification.
(For Korean users, you can use the service after KYC verification using your passport or resident registration card, and a virtual card issuance fee of $10 and a physical card issuance fee of $100 will be charged.)
Key features of RedotPay:
Cryptocurrency Debit/Credit Card: Supports real-life payments with a Visa card backed by crypto assets. Linkable to Apple Pay/Google Pay, and also supports ATM cash withdrawals.
Deposit/Withdrawal Wallet Service: Supports deposits (charging) and withdrawals (transfers) of various cryptocurrencies. You can move funds with fast deposits/withdrawals and low fees.
Global remittances and payments: Provides the ability to instantly convert crypto assets into local currency for international remittances or use for overseas payments (some features will be released sequentially)
For example, in Brazil, we have launched a service to send money to local BRL accounts in cryptocurrency, with an average processing time of 10 minutes.Multi-currency Accounts: For users in some regions, we also offer a Currency Account, which allows you to hold fiat currency balances such as EUR or GBP.
(Currently available for Europe/UK, KRW accounts are not supported)Security and Compliance: We have the highest level of security measures in place, including two-factor authentication (2FA), biometric login, and real-time KYT transaction monitoring, and we manage user assets through a custodian licensed by the Hong Kong Monetary Authority.
User assets are segregated from company assets and protected by $42 million in insurance.
Deposit Method
There are two ways to deposit (recharge) funds into RedotPay: direct deposit through cryptocurrency transfer, and indirect charging through credit/debit card payment or external service integration.
Currently, the function to deposit by directly sending KRW or USD is not supported, so recharging using cryptocurrency is the default.
If necessary, you can purchase cryptocurrency with a card or use a third-party payment method.
The procedures and precautions for each method are as follows.
Major cryptocurrency deposit targets and networks supported by RedotPay and minimum deposit amount
1. Deposit cryptocurrency (transfer from wallet)
You can top up your RedotPay account by transferring the cryptocurrencies you already own. Supported assets include several cryptocurrencies, including USDT, USDC, BTC, ETH, etc., and each asset has its own supported network and minimum deposit amount.
For example, in the case of USDT, you can deposit using ERC20, TRC20, BEP20, Solana, Tron, Arbitrum, etc., and the minimum amount must be 1 USDT.
(Final recharge only for amounts exceeding 1 USDT after deducting network fees)
The minimum limit varies depending on the asset, such as 0.001 ETH for ETH and 0.0001 BTC for BTC, so please check the instructions on the deposit page within the app for the exact limit.
Cryptocurrency Deposit Procedure:
After logging into the RedotPay app, tap the “Deposit” menu on the bottom home screen.
(Similar deposit menu available in web version)
Select the type of cryptocurrency you want to deposit (e.g. USDT, BTC, etc.)
Specifies the network for the selected asset.
(Example: If you selected USDT, choose between ERC20, TRC20, etc.) ※ You must select the same network as the asset you are sending.
Please note that if you send to the wrong network, your deposit will not be processed.
Check the **Deposit Address (Wallet Address)** displayed on the screen.
Copy the address by clicking the copy button next to the address or scanning the QR code.
If you transfer that cryptocurrency from an external wallet to this address, it will be credited to your RedotPay account.
(At this time, a withdrawal fee may be charged by the wallet or exchange you are sending from, so you must send more than the minimum deposit amount)
Open your external wallet/exchange app and go to the Withdrawal (Send) menu.
Select the cryptocurrency and network you wish to withdraw, then paste the deposit address copied from RedotPay.
Enter the withdrawal amount and follow the steps to proceed with the withdrawal.
(Example: When withdrawing USDT-TRC20 from Binance Exchange, enter the TRC20 address copied from the RedotPay app)
Once the blockchain **network confirmation** is complete, your RedotPay account will be credited with the funds.
The number of confirmations required varies for each asset, for example, USDT-TRC20 requires 5 confirmations (approximately 5 minutes) before the balance is reflected.
Typically, most cryptocurrency deposits are completed within 1-15 minutes.
Note: If the assets do not arrive even after a long time after the deposit request, first check the transfer status on the blockchain explorer and confirm whether the confirmation is complete.
If it is still being approved, it is delayed due to network congestion. If it has been approved but not reflected, you should contact RedotPay Customer Service.
(Requires information such as deposit TXID). Also, in case of incorrect deposit (sending an unsupported network or asset incorrectly), RedotPay can attempt to recover it, but a fee will be charged and 100% recovery is not guaranteed.
Avoid these risks by depositing only to the correct address and network.
2. Deposit via credit/debit card (purchase cryptocurrency)
While it is not possible to deposit KRW/USD directly via bank transfer, you can purchase cryptocurrencies using a credit or check card, essentially recharging your KRW or USD.
RedotPay app provides the ability to purchase cryptocurrencies such as USDT, USDC, ETH, etc. with a card via a third-party payment service.
This feature allows you to deposit your selected cryptocurrency directly into your RedotPay wallet.
(Currently supported on Android app only, not iOS.)
Recharging procedure via card payment:
On the RedotPay app **home screen, tap “Deposit”** and select the cryptocurrency you want to top up.
(e.g. USDT)At the payment method selection step, select **“Third party payment – Credit/debit card”**.
Enter the amount of fiat currency you wish to purchase and the estimated cryptocurrency quantity based on the current exchange rate will be displayed.
(Example: Buy 100,000 KRW worth of USDT)Click the “Add Card” button to enter your card information. When you enter the card number, expiration date, CVC, etc. and proceed with payment, your connected bank may request an authentication procedure.
(At this time, payment will be approved only after completing procedures such as 3D Secure authentication by the card issuing bank)Once payment is completed, the purchased cryptocurrency will be deposited into your RedotPay wallet within approximately 30 minutes to 2 hours.
It usually takes a few minutes to several tens of minutes to arrive, but it can take up to 2 hours depending on the processing status of the payment agency.
When purchasing cryptocurrency with a card, the fee is **approximately 3%** of the payment amount.
For example, if a $100 purchase is subject to a $3 fee, a $20 purchase will incur a minimum fee of $1, as 3% (or $0.6) is less than $1.
There may also be daily/monthly limits, so you should check your remaining limit when topping up a large amount.
Note: UK users may be restricted from purchasing USDT due to regulatory restrictions.
Additionally, cryptocurrency cards issued by RedotPay (i.e. your own RedotPay card) cannot be used for this top-up payment, and top-up can only be done with third-party cards.
If you encounter an error, you can get help via live chat support on the payment page.
3. Deposit via Binance Pay
If you have assets on other exchanges, you can easily transfer them to RedotPay using Binance Pay.
Binance Pay is a remittance service between Binance accounts, which RedotPay receives and recharges to the user's USDT/USDC/BTC/ETH balance.
Binance Pay Deposit Procedure:
In the RedotPay app, select the “Deposit” menu, choose the cryptocurrency you wish to deposit, and then select **“Binance Pay”** as the payment method.
Once you enter the deposit amount, the Binance app will automatically launch or you will be directed to the Binance side as instructed.
Once you confirm and approve the transfer in the Binance app, you will be returned to RedotPay to complete the recharge. (It may take some time for the balance to be reflected in your RedotPay wallet after the Binance Pay transfer is completed.)
Binance Pay deposit limits are based on assets: USDT/USDC from 0.01 to 50,000 units, BTC up to 1 BTC, ETH up to 20 ETH, and USDs denominated in USD up to 50,000.
Binance will charge a **1% fee** and when transferring, the assets in your Binance account will be automatically converted to the asset selected by RedotPay and transferred.
For example, if you have BUSD or KRW assets in your Binance account, you can convert them to USDT and send them.
In particular, you can also top up assets called USDs with Binance Pay, but these are USD-linked assets within RedotPay and cannot be withdrawn or converted to other cryptocurrencies.
USDs (General) balance can be used for card payments, etc. without an expiration date, but cannot be withdrawn externally, and **USDs (Reward)** paid as promotional rewards must be used within 30 days.
So if you plan to cash out, it is better to deposit in USDT/USDC rather than USDs.
(USDs are dollar deposits, but cannot be withdrawn due to regulations)
4. Other deposit-related matters
No direct fiat currency deposits: As mentioned earlier, the ability to deposit KRW or USD to RedotPay via bank transfer is currently not supported.
In other words, RedotPay can only be recharged using cryptocurrency.
However, in the future, support for some fiat currencies, such as EUR/GBP deposits through **Currency Account**, will be expanded, and we plan to increase the recharge currencies through partners according to the regulations of each country.
(Example: If a domestic user wants to send KRW to RedotPay, they must first purchase cryptocurrency with KRW and then send it.)Internal transfers (RedotPay to RedotPay transfers): Users can send assets to other RedotPay users using the internal transfer feature.
It is sent instantly to the recipient's RedotPay UID, email or phone number, and there are no fees.
This feature is convenient because it allows you to deposit money into the other party's account immediately without a separate withdrawal.
(Detailed instructions: Select Send to RedotPay account in the app “Send” menu and enter the recipient’s account information.)PayPal integration (in testing): We also had a test service for transferring PayPal balances to RedotPay for users in some countries.
In this case, your PayPal balance will be automatically converted to USDT and recharged, and a **3% fee (minimum $1)** will be applied.
However , since Korea is not included in the supported countries and the process takes several days, it is not yet an official function, so general users should mainly recharge through the methods above (direct cryptocurrency transfer, card purchase, Binance Pay).