Use Elbaite as a direct P2P onramp to fund your wallet with bitcoin, ETH and stablecoins while staying in self custody.
Your guide to funding this wallet directly from USD with Elbaite.
Backpack Wallet is a self‑custody wallet popular with Solana users that lets you hold your own crypto assets and sign transactions directly on supported networks. You stay in control of your keys while the wallet connects you to Web3 apps, DeFi platforms and NFT marketplaces.
With Backpack Wallet you create or import a wallet, receive a unique address on each network you use and can send, receive and store crypto without relying on a custodial exchange account.
Backpack Wallet is commonly used on Solana and other supported ecosystems. It is popular with self‑custody users who want direct access to DeFi protocols, on‑chain trading, NFT collections and gaming ecosystems.
Because Backpack Wallet is a self‑custody wallet, a clear and reliable way to buy crypto directly to your Backpack Wallet address is critical. Funding your wallet is often the first step before you can trade, lend, borrow, mint NFTs or participate in on‑chain communities.
Many Backpack Wallet users start by buying crypto on a centralised exchange and then paying a separate withdrawal fee just to send funds to their wallet address. This two‑step flow adds extra cost and leaves assets sitting in an exchange account that you do not fully control while you wait to withdraw.
Elbaite is designed as a direct‑to‑wallet onramp using a P2P marketplace model. You fund your Elbaite account with USD, choose an offer from a verified seller in the marketplace and pay with your USD. The USD is held safely in escrow while the seller sends the crypto directly to the Backpack Wallet address you selected.
Once the blockchain confirms that the crypto has arrived in your wallet, Elbaite releases the USD from escrow to the seller. This means the delivery of your crypto is the first thing that happens and is always verified on‑chain before the seller is paid.
Because Elbaite never takes custody of your crypto, your Backpack Wallet remains the place where balances live from the moment the trade completes. You avoid holding assets on an exchange account, reduce the need to pay separate withdrawal fees and keep your Web3 funds under your own control.
Before you fund Backpack Wallet with Elbaite, make sure your wallet is set up correctly. Install the latest version of the wallet, create or import an existing one and securely back up your recovery phrase so you can restore the wallet if needed.
Sign up on Elbaite with your email and basic details, then complete identity verification so Elbaite can meet its compliance obligations. Once your account is verified you can reuse it whenever you want to buy crypto for Backpack Wallet or other wallets.
In Backpack Wallet, confirm you are on the correct network and copy your wallet address. In Elbaite, add a new contact entry and paste this address. Give it a clear label so you can recognise it later. If you use multiple networks, you can create separate entries for each network you plan to fund.
Deposit USD into your Elbaite account using one of the supported deposit methods. Once the funds arrive in your Elbaite balance you are ready to choose an offer.
Go to the Elbaite marketplace, select the asset you want to purchase and filter offers by price, payment method and limits. When you find an offer that suits you, start the trade and select your saved Backpack Wallet address as the destination.
Follow the instructions to complete payment in USD. Elbaite holds the USD in escrow while the seller sends the crypto directly to your Backpack Wallet. You can track the transaction status and blockchain confirmation in your Elbaite account.
After the transaction is confirmed on‑chain and Elbaite verifies that your Backpack Wallet has received the funds, the USD is released from escrow to the seller. Your crypto is now ready to use in your wallet for DeFi, NFTs and other Web3 activity.
Answers to common questions before getting started.
You can buy crypto for Backpack Wallet on Elbaite by creating an account, completing verification, adding your Backpack Wallet address to your Elbaite address book and then choosing an offer on the P2P marketplace. When you pay in USD, the seller sends the crypto directly to your wallet while Elbaite holds the USD in escrow until the transaction is confirmed on‑chain.
Network support depends on the asset and the counterparty, but Elbaite focuses on major networks such as Bitcoin, Ethereum and leading EVM and Layer 1 chains. When you select an offer, always check which network the seller will use so that it matches the network your wallet address is on.
Available assets are set by marketplace sellers, but typically include major coins and stablecoins such as BTC, ETH and USDT, plus other popular tokens. You will see the supported assets for each offer listed before you start the trade.
Most trades complete within minutes of the seller broadcasting the transaction, but timing depends on network congestion and the number of confirmations required. Elbaite monitors the blockchain and only releases your USD from escrow after the crypto has been confirmed at your wallet address.
Using Elbaite means your crypto is delivered straight to your Backpack Wallet instead of sitting on a centralised exchange while you wait to withdraw. This reduces counterparty risk and lets you manage your funds in self custody from the moment the trade is complete.
Yes. Elbaite is a regulated platform and requires identity verification so it can meet compliance and anti‑fraud obligations. Once you are verified you can reuse the same account whenever you want to fund any supported wallet.
Yes. You can save multiple Backpack Wallet addresses in your Elbaite address book, for example different accounts or different networks. When starting a trade you simply choose which saved address should receive the funds.
Pricing on Elbaite is set by marketplace sellers. The total cost you pay is shown in the quote before you confirm the trade, and there is no separate withdrawal fee because the crypto is sent directly to your own wallet address.
If something goes wrong with a trade, Elbaite support can review the on‑chain transaction and the status of the escrowed USD. Because funds are only released to the seller after blockchain confirmation, this model gives additional protection for buyers.
Yes. You can add and label multiple wallet addresses in your Elbaite address book, including hardware wallets and browser or mobile wallets. For each trade you simply choose which destination wallet should receive the crypto.
Elbaite Pty Ltd (“Elbaite”) is incorporated in Australia and registered with the U.S. Financial Crimes Enforcement Network (FinCEN) as a Money Services Business. We will never ask for the private keys to your personal digital currency wallet. Elbaite is not liable for any losses you may incur, and you are solely responsible for your investment decisions. Before deciding if our services are right for you, take into consideration your own financial situation & needs and/or obtain professional financial or taxation advice from a licensed provider. Elbaite does not provide financial advice and Elbaite does not have any affiliation with external traders, advisors or trading platforms. Please note: Be cautious of phishing sites and always verify that you're on the official Elbaite.com website before entering any sensitive information.
