Simplex launches to allow people to buy bitcoin via credit cards

At this moment in time, buying bitcoin is fairly easy, but there are always ways to make the process friendlier towards customers. With this in mind, an Israeli startup known by the name of Simplex, which aims to make things easier, has just launched.

According to recent reports, the company’s main scope is to allow the purchase of bitcoin, directly via credit cards, instead of wire transfers and exchanges. Simplex hopes to transform bitcoin purchasing into an easy process that anyone can carry out with the help of an API that can make the process risk-free for anyone, including wallet providers and exchanges which are free to use the software to add credit card payment options onto their sites.

By offering an alternative to the mainstream exchange options, customers will be able to exchange bitcoin without registering, submitting identification documents, and waiting for the funds to be transferred.

In a recent statement, Nimrod Lehavi, the CEO of Simplex has stated that: “Banks often place additional restrictions on which countries Bitcoin exchange customers can send wire transfers to. For example, it may be difficult for the average US resident to use a wire transfer to buy bitcoins from countries outside of the US like Slovenia, Hong Kong or China. This clearly creates very high friction and makes mainstream adoption of bitcoin far from easy. ”

The firm’s initial investment is just right for the market that it’s initially targeting, as they’ve launched with a total of $8.4 million in the bank.

Based on everything that has been outlined so far, what do you personally think about Simplex’s effort to make buying bitcoin easier? Let us know your thoughts in the comment section below.

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7 Comments

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