How to Buy Crypto with Fiat on Phemex: The Complete Guide to Zero-Fee Deposits

The Phemex Fiat Gateway is your bridge between traditional banking and the crypto market.

Zero-fee bank transfers, industry-leading low card fees, and extremely high deposit limits for users who need them

Most exchanges quietly take 3-5% on card deposits — that's €30-€50 lost on every €1,000 before you even buy crypto. Phemex keeps more capital in your account, not in fees.

👉 Buy Crypto with Fiat Now

This guide explains how deposits work, supported methods, fees, limits, and how to get started.

Why Use Phemex Fiat Gateway?

Here's how the fees compare:

The result: More of your money goes into trading, not fees.

Deposit Methods & Fees

Phemex supports multiple fiat deposit methods depending on your region and currency:

Bank Transfers (Zero Fees)

Bank transfers are the most cost-effective option and ideal for both everyday users and institutions.

Zero-fee transfers mean your full deposit arrives in your account with no deductions.

Credit/Debit Card

Card fees vary by region:

First-time EEA users get 0% card fees up to 300 USDT. This is useful if you want to try the gateway before committing to larger deposits.

Card purchases support 60+ cryptocurrencies and more than 30 fiat currencies, with limits between $25 and $5,000 per transaction.

👉 Start Your First Deposit

Why These Fees Matter: A Simple Example

If you deposit €10,000 using a card:

On a single €10,000 deposit, choosing Phemex over higher-fee platforms can save several hundred euros. Across multiple deposits, the difference compounds further.

For bank transfers, fees are 0%, so €10,000 in means €10,000 available to trade.

For High-Volume Traders & Institutions

Traditional exchanges cap deposits at $50,000-$100,000 per day and require 3-5 business days for wire transfers to settle. When markets move, waiting isn't an option.

Phemex solves this with:

• $100M deposit limit per transaction — Deploy capital at scale without multiple transactions

• Instant SEPA settlement — Funds available immediately for Euro deposits

• Zero fees on bank transfers — No percentage cuts on large deposits

• Institutional KYB verification — Dedicated onboarding for business accounts

Use case: A fund needs to deploy €5M when Bitcoin dips 10%. On Phemex, they initiate a SEPA transfer and have funds available instantly. On most competitors, they'd wait 3-5 days and miss the opportunity.

For institutional onboarding, see How to Apply for Entity Verification.

Supported Currencies

Phemex Fiat Gateway supports the following currencies for direct bank deposits:

• EUR (Euro) — via SEPA, SEPA Instant, SWIFT

• USD (US Dollar) — via Wire Transfer, SWIFT

• GBP (British Pound) — via FPS, SWIFT

• CHF, AUD, JPY, CAD — SWIFT

For cards, more than 30 fiat currencies are supported, including USD, EUR, GBP, AUD, CAD, and others.

How to Deposit Fiat on Phemex

Method 1: Bank Transfer

1. Log into your Phemex account

2. Navigate to Buy Crypto → Fiat Deposit

3. Select your fiat currency (EUR, USD, GBP, etc.)

4. Complete KYC verification if not already done

5. Choose your payment method (SEPA, SWIFT, Wire, FPS)

6. Follow the instructions to transfer from your bank

7. Funds appear in your Fiat Account once processed

After funds arrive, you can convert to crypto instantly using One-Click Buy.

Method 2: Credit/Debit Card

1. Log into your Phemex account

2. Navigate to Buy Crypto → One-Click Buy/Sell

3. Select fiat currency and desired cryptocurrency (BTC, ETH, USDT, etc.)

4. Enter purchase amount ($25 - $5,000 per transaction)

5. Complete payment with your card

6. Crypto credited to your Spot Account within 1-2 minutes

One-Click Buy: From Fiat to Trading in Seconds

After depositing fiat, use the One-Click Buy feature to instantly convert to crypto:

1. Go to Buy Crypto → One-Click Buy/Sell

2. Select your fiat currency and target crypto (BTC, ETH, USDT, USDC)

3. Enter the amount

4. Select Fiat Balance as payment method

5. Confirm the order

Crypto is credited to your Spot Account within 1-2 minutes. From there, you can:

• Hold in Spot

• Transfer to Futures for leveraged trading

• Move to Phemex Earn for passive income

Withdrawing Fiat Back to Your Bank

If you need to cash out:

1. Navigate to Buy Crypto → Fiat Withdraw

2. Select your fiat currency

3. Enter withdrawal amount

4. Link your bank account (if first time)

5. Confirm the withdrawal

Most withdrawals complete within 1–2 business days.

Note: Fiat balances can stay in your fiat account for up to 30 days. Any remaining funds are automatically converted to USDT after that period.

Requirements

To use Phemex Fiat Gateway:

• KYC Verification: Required for all fiat deposits and withdrawals

• Supported Region: Check the list of supported countries

• Bank Account: Must be in your name (matching KYC)

Frequently Asked Questions

What are the fees for depositing fiat on Phemex?

Bank transfers (SEPA, SWIFT, FPS, Wire) are completely free. Credit card fees are 0.8% for EEA cards, 2.8% for non-EEA, and 3.5% for UK/US cards.

Is there a first-time deposit bonus?

Yes. New users in EEA countries get 0% fees on their first credit card purchase up to 300 USDT.

What's the maximum deposit limit?

Up to $100M per transaction for bank transfers. Credit card purchases are limited to $5,000 per transaction.

How fast is SEPA Instant?

Funds are available immediately after the transfer is initiated from your bank.

Which cryptocurrencies can I buy with fiat?

60+ cryptocurrencies including BTC, ETH, USDT, USDC, SOL, XRP, and more.

Can institutions use Phemex Fiat Gateway?

Yes. Phemex supports institutional deposits with dedicated KYB verification, high limits, and instant settlement.

Related Resources

• Fiat Deposit Page

• One-Click Buy/Sell Guide

• Credit Card FAQ

• Fiat Withdrawal Guide

• Institutional Deposits

• Supported Countries List

Start Trading Today

Whether you're depositing €100 or €50 million, Phemex Fiat Gateway keeps costs low, settlement times fast, and funding simple.

Less money lost to fees means more capital available for trading.

👉 Buy Crypto with Fiat on Phemex

Risk Warning: The content herein is for educational purposes only and does not constitute financial advice. Cryptocurrency trading involves significant risk. Only allocate capital you can afford to lose.