CEX.io Surpasses US$40m in Payment Card Deposits

CEX.io remains one of the world’s best-known Bitcoin exchanges, and they have surpassed the US$40m mark in deposits through Visa and MasterCard. This is quite a significant milestone for the company, as it goes to show consumers want to use convenient payment methods to buy Bitcoin.

Another Milestone For CEX.io

Late last night, news broke regarding CEX.io announcing they had surpassed the US$40m mark in fiat currency deposits through payment cards. Considering how credit and debit cards are among the most commonly used payment methods around the world, they seem to present an excellent use case to boost Bitcoin adoption.

Albeit there are several exchanges which process card payments for Bitcoin, CEX.io mentioned how they have seen a significant interest in this payment option compared to more traditional offerings. Additionally, the company recently launched a payment card withdrawal option, which will lead to further expansion of their customer base, sitting at over 600,000 registered users at the time of writing.

The exchange model offered by CEX.io has seen a lot of interest from traders and investors alike, and the option of buying cryptocurrency with Visa or MasterCard is a big part of that success. But the company went beyond physical card acceptance, as their users can also use virtual payment cards to satisfy their Bitcoin purchasing needs.

CEX.io CEO and Co-Founder Oleksandr Lutskevych stated:

“The recent Money 20/20 Europe conference held in Copenhagen proved that blockchain technology and related businesses are in the spotlight of FinTech. We operate as a broad and reliable bridge between people who are willing to buy Bitcoin and the blockchain industry. As credit cards are still the most common thing in users’ pockets, no matter what country they come from, we decided to direct our efforts on user-friendly, fast and cheap Bitcoin purchases using payment cards. Recently announced withdrawals to Visa and MasterCard from CEX.IO is another breakthrough feature that was very awaited by our existing and potential customers.”

With over US$40m in deposits processed already, it will be interesting to see if a lot of their customers will withdraw funds to a payment card as well. Considering how the platform supports Bitcoin, Litecoin, and Ethereum, CEX.io seems to be providing a lot of convenience to both novice and experienced cryptocurrency enthusiasts.

Source: Press Release Via Email

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