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DigiFinex and Simplex join hands to enable credit card crypto purchases

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The greatest hindrance of getting people to exchange their fiat into crypto is the process itself. DigiFinex, a reputable cryptocurrency exchange, has made a significant stride towards removing the roadblock.

The exchange has joined hands with Simplex, a payment processor licensed in the European Union, a move that will see DigiFinex users able to purchase virtual currencies using a credit or debit card. The functionality will be live on April 29.

DigiFinex’s co-founder, Kiana Shek, noted:

The introduction of popular mainstream payment options and additional entry points for trading has always been a top priority of DigiFinex. Partnering with Simplex will allow us to significantly minimize any obstacles presented to current and potential clients on DigiFinex.”

Simplex’s CEO, Nimrod Lehavi, added that the activation of “easy and fast credit card payments” is a crucial ingredient in driving the crypto adoption train.

Cryptos that can immediately be purchased with either USD or EUR include Ripple (XRP), Litecoin (LTC), Bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH). Purchased virtual currencies will be credit onto a user’s DigiFinex account as an ordinary account.

However, the service has capped the minimum and maximum purchases at $50 and $20K respectively at a service fee of 3.5 percent. Additionally, to use the service, personal details, details of the card used, plus upload of a government-issued identification document will be required.

Although the service will be available in most countries, DigiFinex users in Cambodia, Bahamas, Botswana, Ethiopia, Iran, Ghana, Serbia, Sri Lanka, Pakistan, and China are among 15 countries that will be excluded.

DigiFinex is among the top 10 crypto exchanges in the globe with a trading volume of approximately 670 million U.S dollars in the past 24 hours. The exchange has more than 2 million users and over 100 listed cryptos and trading pairs.

Jason Lee is a writer for various crypto publications and manages a small team on Medium. His love of technology and inquisitive nature set him up with crypto back in early 2016 and he hasn’t looked back since. In his spare time, Jason enjoys rock climbing and wakeboarding.

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