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How to Deposit on Sorare (Using a Bank Account)
Quite a lot of players have emailed me asking how to deposit on Sorare, like they can with other platforms. However, Sorare runs on the blockchain so it doesn’t use cash, it uses Ethereum. What better, than a Sorare Deposit Tutorial?
Big Update for 2023 – Easy Way to Deposit
Sorare have now introduced a Cash Wallet, enabling Managers to purchase players with ease. If you aren’t used to using Cryptocurrency, this will make things so much easier as you can now use Debit Cards directly.
I think at least 70% of players that are interested in Sorare have limited experience with Cryptocurrency. I was in the exact same boat, but now I have a gallery with over 50 Rare cards! It’s quite surreal how your experience will build, and you’re fortunate that I’m here for the journey with you!
This can make a bank deposit on Sorare a little more difficult, as there’s multiple ways to fund your account, especially if like myself, you found Sorare with no experience in Cryptocurrency.
Fortunately, Sorare has evolved and does now offer a direct cash deposit method, using Ramp Payments. They’re a huge company that deal with Cryptocurrency Cash Payments, making things so much easier. The cash wallet makes things even better.
As some players will want to learn about Ethereum on Sorare, I will be showing all of the deposit methods available to you, so you can make an informed decision. As with all of our tips or tutorials, we are making this guide so that you can find your preferred method, but also to show that making a Bank Deposit on Sorare is actually easier than it seems. If you want to take a look at our Beginners Guide, I’d also advise that for getting to grips with every aspect of the platform.
Haven’t started playing yet?
New Sorare players will receive a Free Referral Reward, when they purchase 5 Cards from the Primary Market. This is an additional Free Card, which is yours to keep… or sell! Next, it’s time to see how to deposit on Sorare. Let’s start with the cash wallet, moving on to the traditional Crypto method after this.
Depositing on Sorare Using Cash Wallet
Before you can deposit using the Cash Wallet, you need to activate it. You can do this from your settings Page, or clicking on your wallet.
Set yourself some time to do this, as you will have to do some light KYC, including your name, date of birth and a few other bits. You will also need to upload your Identity Documents.
I advise you to do this during a quiet period. I made the mistake of waiting until an auction was due to end, and I missed out purchasing the Dayot Upamecano that I wanted to add to my gallery. I’m still gutted now.
Once your ID is verified, you’ll be able to hit the market and start scouting for some talent. It’s one of the best parts about playing!
To Deposit, select your cash wallet in the top left corner and you’ll be notified that your cash balance is £0.00. Select the Add Funds button.
Select Add Cash and choose Pay With Credit or Debit Card. Note, American Express is not supported for deposits, but you can place bids with that.
There is a fee included with your Sorare Deposit. I deposited £25 and there was a £0.25 fee. This scales at 1%, with a £250 fee for a £25,000 deposit.
I proceeded to deposit £25. After the fees, £24.75 was instantly added to my wallet. It’s very quick and easy to use. You can’t fault that at all.
Now you are able to go back to the market, and hunt for some bargains. In my instance, I’m straight in on Florentino Luis for my Cap 240 team.
Starting the Deposit Process on Sorare with Crypto
Purchasing with cryptocurrency is another possibility on Sorare.
When you purchase your cards, they will never expire or be deleted. As Ethereum is used, the cards are stored on the blockchain and this helps to build an in-game ecosystem which allows managers to Buy, Sell & Trade cards.
Without a doubt, the first question that new players will ask, is;
How can I deposit money into Sorare?
Whilst new managers are eager to put their Football Manager knowledge to the test, building their gallery of cards & competing in tournaments, this is definitely the biggest stumbling block. However, once overcome, you will soon find that it’s incredibly easy.
My favourite method to deposit is using Ramp, which allows you to complete the transaction on the Sorare website, with minimal fuss. The alternative option is to use a Broker to purchase your Ethereum, transferring it using Metamask Wallet.
I’ll show both, but I’ll be honest, if you end up using Option 2 I’ll be surprised, especially when you see how easy Sorare Ramp deposits are.
Depositing on Sorare using Ramp
Before Sorare introduced Ramp for deposits, it was always a bit of a chore. Using Ramp, you could deposit in around 5-6 clicks, which would save you at least 15 minutes compared to the traditional method.
To get started with your Deposit on Sorare, click the button showing your balance, in the top right corner of the screen. The next screen will show the below, and you’ll see the option to fund using Ramp. Select that option.
After selecting the Ramp Option, you’ll see the below screen. This is now the time to enter the amount which you want to deposit. I have decided I want 2 Ethereum, which is priced at £1297.26 per Eth.
You will also see the illustration below that shows my verification was accepted. This is a really easy process, where you simply upload a Selfie alongside a picture of your driving licence or passport.
Eagle-eyed mathematicians will notice that I’m paying £1297.26 per Eth, but paying a little more than I should do. This is very true, and something which I must make you aware of. Ramp do charge a small fee for their payments. However, as you’ll see I’ve transferred close to £3,000 for less than £35, which is very, very generous.
Personally, to save the hassle of moving from Coinbase or another broker, I’d pay the Ramp Fee every single time. (You will see why, when I show the Coinbase deposit method!).
You’ll see above that Ramp offer multiple Deposit Payment Methods, all with different fees. We have;
- Easy Bank Transfer. This is an Instant Deposit, but charges a £60.50 fee. Perfect if you’ve found a cheap player on the market you need to obtain fast.
- Manual Bank Transfer. This is the lowest fee method, and takes between a few minutes and a few hours. Perfect for those who want to save on fees.
- Debit Card. This comes with a higher fee of £86.37, but it’s certainly a very convenient way to deposit.
Ramp automatically map your Sorare Wallet Address, so there’s no way that these deposits can go wrong. When using an alternative method, there is a risk of entering an incorrect address.
During the time it took me to grab these screenshots, the Network Fee reduced significantly. This led to the price that I pay to reduce slightly.
The next step for you to do here is confirm that you wish to make the deposit, and then Ramp will send you the following details;
- Ramp Payments Bank Account Number
- Ramp Payments Sort Code
- Ramp Payments Reference Number
It’s important to get this Reference Number correct, as this is what’s used to confirm the payment on their side. Note, I got this wrong during a deposit, and my money was refunded after 4 working days. If you get it wrong, your money is still safe.
You will then receive an email, confirming that your transaction has initiated. At this point, you’ll probably be refreshing your balance like crazy!
If you press the Transaction Details button inside of your Email, you’ll be taken to a live status menu of your deposit. This allows you to view exactly which stage you’re at, as you can see below my deposit was released within 90 minutes.
So although the Manual Bank transfer option wasn’t the fastest option, it’s certainly acceptable considering I saved £45.
We understand that Depositing on Sorare isn’t the most straightforward of tasks, so we are going to leave this post here. We will create a separate guide for Coinbase / Broker Deposits, so it doesn’t confuse you too much. I will add that post link here, as soon as completed. It’s also worth noting how Sorare have been working on their scaling solution to make deposits and transfers even faster for managers.
I hope you enjoyed this tutorial & it helped you to understand the exact process for depositing. If required, I can also make a video which I can attach to this post!