Since the inception of the cryptocurrencies at least 10 years ago, users have struggled to get easy access to the digital assets. The traditional banking system was for a long time skeptical about the introduction of virtual currencies in the financial system. The obvious reason being that they felt threatened, while at the same time, payment systems were doubtful of the legitimacy of the assets. Although the situation has improved greatly with exchanges like Coinbase allowing direct deposits and withdrawals in fiat currency, users in various jurisdictions still grapple with the long process of buying Bitcoin and other assets.
BitMart is one of the premium digital asset exchange platforms in the crypto market. The Cayman Islands-based company was started in 2017 and currently has offices in various parts of the world including China, the United States, South Korea and the recently opened Hong Kong. The exchange provides a platform for users to trade crypto-crypto pairs only. Moreover, it has the plans to introduce future contract trading, whole-network trading, over-the-counter trading along with decentralized trading.
With over 500,000 customers, the exchange is available in more than 180 countries spread across the world. According to the data on CoinMarketCap, the exchange has a 24-hour trading volume of $107 million.
BitMart has recently commenced a fiat deposit service following the collaboration with the European Union authorized financial institution referred to as Simplex. The institution will provide users with a seamless system that allows then to send funds to the exchange using either their debit or credit cards. The fiat deposit development on BitMart further increases easy access to digital assets. The fiat system is supported by both Visa and MasterCard and will support buying of Bitcoin (BTC) and Ethereum (ETH). BitMart shared the news via Twitter with ecitment stating:
“Want to buy BTC but don’t know how? Not a problem at http://bitmart.com!! We accept Visa/Mastercard to buy BTC and ETH! Embrace your digital asset for alternative investment today.”
This service is open to all individual traders with active accounts on BitMart. Visa and MasterCard support is a groundbreaking achievement for the exchange and its customers alike, all thanks to the partnership with Simplex. The founder and CEO of Bitmart, Sheldon Xia said in regards to the new service:
“The aim of the partnership between BitMart and Simplex is to offer our users with convenient and secure fiat deposit service, lowering the barriers to entry for new adopters of digital currency investment.”
At the moment, users from at least 100 countries around the world have access to the fiat deposit service. The exchange is also working to ensure that the number of trading instruments continued to grow with the recent additions being GUSD and USDC stablecoins.
Bitcoin (BTC) and Ethereum (ETH) price overview
Bitcoin price is currently trading at $6,265. The price is battling to make a comeback above $6,300 following the dip that tested the support at $6,250. Bitcoin is slightly in the green on Wednesday during the Asian trading hours, see live stream data on Blockmodo.
Ethereum price, on the other hand, is exchanging hands at $207. The digital asset has been cancelling last week’s gains from the high formed at $220. The buyers have a couple of support areas to fall back to at $200 and $190 in the event the trend reversal continues towards the end of this week. Ethereum is up 0.13% on the day, besides it could correct higher above $210 in day’s trading sessions.