Changelly, the popular global cryptocurrency exchange that offers several dozen cryptocurrencies, has announced via Twitter that userscan nowo purchase XRP tokens with Visa and MasterCard debit and credit cards, a development that eases the barrier of entry into the cryptocurrency market.
⚡️Big news for #Ripple fans! You can seamlessly buy $XRP on Changelly via our partner @SimplexCC from now on.
Give it a shot 👉 https://t.co/ETBVJSIj2y@Ripple @RippleFeed #XRP #simplex #cryptocurrency #blockchain pic.twitter.com/IKOmiXY2Gx
— Changelly.com (@Changelly_team) October 22, 2018
The feature has been made possible through a partnership with Simplex, a payments processor for the cryptocurrency market.
Users received an email informing them that they could immediately make the purchase:
Time to buy XRP now! Convert USD or EUR to Ripple. Big news for Ripple fans and wise investors! You can seamlessly buy XRP on Changelly via our partner Simplex from now on. Give it a shot! Best investments, Changelly.
Changelly allows users to trade several different cryptocurrencies, though it does charge a flat fee of 0.5% and offers limitations according to the user’s jurisdiction.
Options to Buy Crypto with Credit and Debits Cards Growing
While dabbling in the volatile cryptocurrency market through credit purchases is generally ill-advised, this option at least gives those who are financially stable an easier option to purchase cryptocurrencies, as opposed to having to go through roundabout ways to obtain tokens.
Fiat-crypto transactions are still very limited, though that has been changing in recent times, especially with the arrival of institutional investment.
Changelly is far from the first to offer such services. Cryptocurrency is available for USD trading on several other platforms, including Bittrex, CoinField, and Wirex.
Last week, it was revealed that Nexo became the first platform to offer XRP-backed collateral for loans up to $2 million. Exchanges are a crypto-battle unto themselves, each constantly attempting to one-up the other with new features and services in order to be the best cryptocurrency exchange on the market.
Coinbase once allowed a smooth credit card experience. It no longer does, following the decision by major U.S. banks to ban the purchase of crypto with credit cards. The stated reason for this ban was the volatility of the market.
Despite these sorts of hiccups, the cryptocurrency market and exchanges themselves have had an excellent 2018 — regardless of what 2018’s bear market might suggest — because of the enormous interest shown by financial institutions and enterprise companies. Many see this as key to the market’s growth, and as lawmakers and worldwide entities slowly develop regulations that allow for innovation and protect consumers, the market can only grow.
2019 could very well be the year that cryptocurrency truly takes off.