Two cryptocurrency ecosystems will collaborate to provide a seamless crypto-to-fiat trading experience for holders of major tokens.
Buying crypto with credit cards
Coinex, a professional digital asset trading platform, announced its partnership with Simplex, a top-notch fiat payment infrastructure provider. The new fiat gateway will allow Coinex users to use major cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and the U.S. Dollar Tether (USDT) stablecoin with their Visa or Mastercard credit cards in a seamless manner.
According to the official statement, Simplex will charge users a relatively low transaction fee of 3.5% (minimum $10). The crypto-to-fiat conversion amount has very comfortable limits: the daily limit per user is $20,000, while the monthly limit is $50,000.
Simplex will enable Coinex with a rich toolkit of fiat currencies, e.g. USD, EUR and CAD. Haipo Yang, CEO of Coinex highlighted that:
This is a milestone for CoinEx, as it’s the first fiat onramp we integrated to our platform
Simplicity and security to boost adoption
According to Nimrod Lehavi, the co-founder and CEO of Simplex, 'Enabling fast and secure credit card payments is a key step to mass crypto adoption'.
It should be mentioned that Coinex obtained a license for crypto-to-fiat remittances in Estonia, one of the most developed blockchain hubs. Coinex is a subsidiary brand of the ViaBTC Group, industry-level Bitcoin (BTC) and Bitcoin Cash (BCH) mining operator.
Simplex is an EU-licensed fiat infrastructure provider for crypto-oriented projects. Launched in 2014, it onboarded numerous popular trading ecosystems.