With the increasing adoption of Bitcoin as a payment currency, making the process of buying Bitcoin more convenient remains a key challenge for service providers. CoinGate is on the right track to do so, though. The company has introduced a new feature that lets anyone buy Bitcoin with a text message or a phone call to a premium number. This is an interesting new feature in the world of Bitcoin that may introduce some positive changes overall.
CoinGate Makes Buying Bitcoin Straightforward
Even though Bitcoin has been around for several years now, a lot of users remain mystified by the process of buying cryptocurrency. Signing up for an online platform, and going through a lengthy verification process makes little sense to most consumers. Moreover, the required documents to verify one’s identity include the exchange of sensitive personal information, which is not something people are all that comfortable with.
Luckily, that may no longer be much of a problem for people looking to buy Bitcoin quickly. The new feature introduced by CoinGate allows users to send a text message or call a premium number to buy small amounts of Bitcoin. In fact, it is a perfect solution for people looking to buy between US$5 and US$100 worth of BTC. More importantly, they no longer have to go through a lengthy verification process, or even to sign up, which is great news.
This new service is made possible thanks to a partnership with DaoPay, an Austrian mobile billing veteran. CoinGate sees the merit of such a service, and they want to expand their presence in the coming years. It is interesting to see Bitcoin payment processing companies partner with mobile service providers, as the outcome could finally make cryptocurrencies universally accessible to all mobile users.
It is worth mentioning this service has gone through a stealth launch in the past few days. In fact, CoinGate the service is already operational in nine different countries in Europe: Austria, Belgium, Cyprus, Finland, Germany, Greece, Netherlands, Slovakia, and Spain. The company has the approval to operate in 36 countries so far, and the expansion to other regions will occur in near future. New regions will include the UK, Canada, Australia, and Israel, among others.
It is evident there is a growing demand for convenient gateways to buy Bitcoin. While centralized exchanges will always remain popular, a service based on text messages and premium phone number calls will introduce millions of people to cryptocurrency in a frictionless manner. As a matter of fact, it appears a lot of people often search Google for such a service, yet there is no proper service yet that provides a universal mobile billing solution for purchasing Bitcoin. CoinGate is planning to fill this gap and rapidly expand their presence in this industry.
No one will object to a service that makes it easier for novice enthusiasts to buy Bitcoin for the first time. Clearly, submitting ID verification documents when trying to buy US$50 worth of Bitcoin is too much of a hassle. Using a Bitcoin ATM is an option, yet these machines are only found in very specific locations. CoinGate is definitely on the right track with this new service, and it will be interesting to see how popular it becomes in the coming months. Try out the feature yourself and become one of the first people to Buy Bitcoin with Mobile Credit.
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