Thanks to an alliance with the firm Simplex (which has worked before with companies such as Binance, Huobi, Wirex or Skrill) now Bitpay allows you to buy crypto with a credit card
The popular Bitcoin payment processor BitPay sealed a partnership with the fiat to crypto payment processor Simplex and now allows its users to buy Bitcoin and other cryptocurrencies directly within the application using a credit card.
This was announced by different crypto media, stating that the Simplex firm has created an important fiduciary access ramp to crypto economics, by allowing BitPay to carry out and liquidate crypto transactions through it.
For its part, the company Bitpay tweeted about it:
“Stop wasting time moving #crypto between your exchange and your favorite # non-custodial wallet. #Buycrypto right in the @BitPay App with a debit or credit card. #Blockchainpayments #BitPay #BTC #BCH #ETH”
Buy crypto with credit card
In principle, the BitPay-Simplex association is primarily aimed at users of cryptocurrency exchanges.
In a statement, BitPay CEO Stephen Pair said:
“Cryptocurrency exchanges can be intimidating for new users. However, the integration of Simplex makes the Blockchain payment experience smooth. ”
Coinspeaker said BitPay’s reach and reputation along with Simplex’s payment processing capabilities will give operators the ability to convert fiat to crypto and vice versa quickly and safely.
Other Bitpay alliances were built with companies such as Xpring (to buy giftcards on Amazon with XRP), and Onegold (to buy gold at a 2% discount). You can download the Bitpay application by clicking here.
From a single platform
According to Coinspeaker, more than 30,000 merchants use BitPay, and the company processed more than USD $1 billion in cryptocurrency transactions in 2018. Simplex has previously agreed on similar terms with Binance and Huobi, allowing users of those Platforms buy crypto with credit card directly on the exchange.
Now, Bitpay users can also transfer funds, make purchases and send money to friends from a single board, since the Simplex agreement significantly improves BitPay’s capabilities. Indeed, existing and potential users can access a single portal that converts fiat to crypto for crypto payments and crypto to fiat for transactions with BitPay card.
By connecting its payment rails with those of the fiduciary world, BitPay is improving the key infrastructure that will facilitate greater accessibility and utility of digital assets.