KuCoin is a Singapore operating crypto asset exchange which recently added support to buy cryptocurrencies direct with credit cards. The tweet reads:
— KuCoin Updates (@KuCoinUpdates) February 8, 2019
The investors and traders can now be able to use their bank debit/credit cards for purchasing major crypto coins right through the KuCoin exchange. Moreover, this is the initial attempt by the company to establish a fiat on-ramp – presumably specifically to make it flexible for more traders to acquire digital assets.
According to the KuCoin announcement, the platform users can now buy bitcoin, ether, Litecoin, and Ripple using their credit cards. This new payment method is announced via their partnership with Simplex, which is basically a popular payment processing service firm.
Recently, Binance, Malta operating crypto exchange also introduced a similar payment method for their trading platform. Now, every single purchase can accomplish via credit/debit cards with a fee charged by Simplex. However, the fee will be 5% user’s entire transaction cost with a minimal of $10 for a single purchase order.
Additionally, KuCoin will not charge any other fees for processing the transaction. This new credit card method set up accomplishes within 5-30 minutes. Moreover, the users of this platform might not yet buy some newly announced cryptos like BitTorrent token (BTT), Grin, etc.
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