SimpleBit - UAE Crypto Payment

1. Operating Region & Currency

Simplebit currently operates in the United Arab Emirates, with all fiat settlements denominated in AED (Dirhams).

2. Accepted Cryptocurrencies

Simplebit accepts any cryptocurrency sent via a low-cost, efficient network. Once received, the funds are converted on behalf of the merchant via regulated exchanges into AED or stablecoins.

3. Supported Low-Cost Networks

Network	Avg. Fee (USD / AED)	Highlights
TRON (TRC-20)	~$0.01 / ~AED 0.04	Fast & popular for USDT transfers
Polygon (MATIC)	<$0.01 / ~AED 0.03	Highly scalable and DeFi-friendly
BNB Smart Chain (BEP-20)	~$0.03 / ~AED 0.11	Low fees and widely supported
Solana (SOL)	<$0.001 / ~AED 0.004	Ultra-fast and minimal cost
Stellar (XLM)	<$0.001 / ~AED 0.004	Designed for fast global payments
Algorand (ALGO)	~$0.001 / ~AED 0.004	Stable and secure with fixed costs
Optimism / Arbitrum	~$0.05 / ~AED 0.18	Ethereum L2s for lower gas
Avalanche (C-Chain)	~$0.02–$0.10 / ~AED 0.07–0.37	Reliable DeFi ecosystem
Near Protocol	<$0.01 / ~AED 0.03	Low fees and developer-friendly
Bitcoin via Lightning	~$0.001	Near-zero cost BTC transfers

4. Fee Structure & Transparency

Transactions below USD 10,000 (≈ AED 36,700): 2.5% flat fee.
Transactions above USD 10,000: charged a fixed fee.

Example:

USD 5,000 → 2.5% fee = USD 125 (≈ AED 460)
USD 10,000,000 → flat fee = USD 5,000 (≈ AED 18,350)

This offers huge savings compared to traditional processors (Visa/Mastercard) that charge ~2.5% on all volumes.

5. KYC Requirements

No KYC needed for low-ticket transactions.
High-ticket transactions: merchant KYC every 6–12 months.
Users are only KYC’d if requested by UAE authorities.
Most KYC is sourced via the merchant or crypto exchange.

6. Legal & Regulatory Compliance

Simplebit is licensed as a Payment Service Provider in the UAE.
We do not operate as an exchange or hold crypto.
All activity complies with UAE PSP regulations.

7. Data Security & Privacy

End-to-end encryption of user and merchant data.
Role-based access control and audit logs.
Compliance with UAE data privacy laws.

8. Transaction Tracking & Emergency Policy

Each transaction QR code is tracked and logged.
In case of payout failure, Simplebit uses emergency reserves to fulfill the amount.

9. Communication

For support or legal communication, contact: support.simplebit@gmail.com

Terms and Conditions