Frequently Asked Questions

Discovering Bitcoin is the start of a journey. Let us join you as you embark into a new world of investment.

Getting started

To create an account Amber requires your:

Full legal name,
Date of birth,
Email address,
Cell phone number.
Government ID.
US Bank Account

At the moment Amber is available in Australia and USA. Don’t hesitate to let us know on Twitter or Facebook what other countries you would like to see Amber be made available in.

Transactions

If purchasing via EFT, there are no purchase limits.

Please note: To withdraw USD or send Bitcoin, you will need to have your identity verified and bank account verified.

There are no purchasing limits when using PayID. Purchasing via PayID works by first funding your Amber USD account, then purchasing BTC, using your Amber AUD account as the payment source. Both of these steps occur almost instantaneously.

Exchange Fees:

Exchange fees are linked to your membership tier.
Amber Basic members: 2% of Bitcoin purchases or sales.
Amber Black members: 0% of Bitcoin purchases or sales.

EFT Fees:

Funding purchases or deposits via EFT is free. You will not be charged any additional fees per transaction.

Credit/Debit Card Fees:

There will be a 1.8% charge fee per debit/credit card transaction below $2,000 or 1.2% fee per transaction above $2,000.

Apple/Google Pay Fees:

You’ll be charged a 1.8% fee per transaction.

Withdrawal Fees:
USD Withdrawals are free.

Bitcoin withdrawals incur a flat 0.0003BTC (30,000 sats) transaction fee.

Bitcoin purchased via EFT and PayID can be sent immediately after the transaction has settled.

For Bitcoin purchased via Credit/Debit cards, your account will be subject to a BTC send hold. This dispute window is typically 45 days for debit/credit cards, however this may vary depending on the specific payment provider.

Once the transactions of each payment method have surpassed the dispute window, BTC sends will be processed immediately, from that day forward.

Currently there is no way to send Bitcoin within the dispute window, so if you want to process a BTC send immediately after a purchase, we recommend using EFT instead of debit/credit card.

Withdrawals

Some payment methods used by Amber have long dispute windows. To ensure the platform is protected from fraud we have a system that restricts Bitcoin withdrawals for different periods depending on the funding method.

Typically purchases via EFT can be sent immediately after the transaction has settled.

For Bitcoin purchased via Credit/Debit Cards and Apple/Google Pay, we place a hold of 45 days.

To send Bitcoin, open your Bitcoin account by tapping the orange card on the dashboard. Then, tap ‘send’ up the top right. Once you send Bitcoin, the receiving wallet address you put in will be pre-filled as your current linked address for future Bitcoin sends.If you send Bitcoin to a different address, that one will become your default wallet address. Make sure to check the receiving wallet address before sending.

Please note, you can only send Bitcoin for ‘Successful’ purchases, which will show up as green in your transaction history. If your purchase is still ‘Pending’ (Orange), you will need to wait for settlement which typically takes 2-4 days.

To withdraw money, open your account by tapping the blue card on the dashboard. Then, tap ‘withdraw’ up the top right.

Please note, if your funds are sitting in BTC, you will need to sell your BTC before you can withdraw money to your linked bank account. You can sell by tapping the ‘Sell’ button on the dashboard

To withdraw money, open your account by tapping the blue card on the dashboard. Then, tap ‘withdraw’ up the top right.

Please note, if your funds are sitting in BTC, you will need to sell your BTC before you can withdraw money to your linked bank account. You can sell by tapping the ‘Sell’ button on the dashboard

Identity verification is required for both USD and Bitcoin withdrawals.

If you wish to withdraw USD funds from your Amber account, you would need to link a bank account and complete bank account verification in order to withdraw. 

No, when you sell your BTC, it will deposit the money into your Amber account.

To withdraw your money to your linked bank account, you will need to do that via the ‘withdraw’ feature. To do this, tap the blue card on the dashboard to open your account, then tap ‘withdraw’ up the top right.

When you sell your BTC, it will deposit the money into your Amber account. It does not automatically withdraw to your bank account.

To withdraw your money to your linked bank account, you will need to request via the ‘withdraw’ feature.
To do this, tap the blue card on the dashboard to open your account, then tap ‘withdraw’ up the top right.

Linked Accounts

Amber provides the ability to link up to 2 accounts. Each account must be verified separately. If you wish to change your linked account, you’ll first need to verify access to that account. Once completed, you’ll be able to add your new account and delete the old one. If you run into problems with this process or entered wrong details to your bank account, please contact support.

When you send Bitcoin, it will automatically pre-fill your current linked address. You will also have the option to enter in a new BTC address, via pasting or via QR code. Once you send Bitcoin, that address will automatically become your new linked BTC address.

Reminder: We advise that you copy and paste the BTC address to avoid typographic errors and sending your funds to the wrong address

You will need to manually set up a new Amber account specifically for use only by your SMSF. It must be completely separate from any personal Amber accounts that you already have and it must use a different email address.  Contact [email protected]  for further information.

Security

Amber cold stores customer’s Bitcoin in multi-sig collaborative custody wallets. This procedure provides greater security for your Bitcoin.

As a registered digital currency exchange provider, we must perform identity verification on all users, regardless of the value of their transactions. This is an obligatory process in order to comply with US law.

Identity verification is a quick process, which can be completed via the ‘Profile’ section of the app.

Membership

Amber Black membership enrolment is handled on the Amber website. Head to amber.app/amber-black to sign up.

To cancel your Amber Black membership, you can login to your Account Portal page. Click here to login: https://amber.app/account-portal/#/login

Please note that memberships that have already been charged for are unfortunately non-refundable. You will however continue to have access to the membership benefits for the duration of the current membership period.

Unfortunately, Amber doesn’t offer refunds for cancelled memberships outside the 7-day trial period. Amber is able to cancel your membership completely free if you contact us within your trial period. Memberships that have already been charged for are unfortunately non-refundable. You will however continue to have access to the membership benefits for the duration of the current membership period.

Payment and deposit options

EFT

Credit / Debit CARD

Apple / Google
Pay

BTC Purchases
Recurring Purchases
AUD Deposits
Processing speed
1-4 business days
Instant
Instant
Transaction fees
$0
1.2% - 1.8%
1.8%
Min. transaction limit
$20
$20
$20
Max. transaction limit
No limit
$10,000
$10,000

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