Bringing Bitcoin and altcoins to the masses will remain a major challenge. Twitter co-founder Christopher Isaac Stone recently backed a fintech startup focusing on making this happen.
Known as Mode Banking, this application and platform has a lot of potential.
Its main purpose is to let customers open an account in less than a minute.
After following the KYC procedure, about three minutes should have passed.
Whether or not these bold claims will apply to every person signing up for this platform, is always difficult to predict.
As far as customers go, Mode Banking works virtually everywhere in the world, except the US.
Customers using this fintech application can buy Bitcoin in a convenient manner.
There is a £50 minimum purchase limit, which equals to $65.
All purchased bitcoins are stored in wallets managed by BitGo for optimal security.
With a trading fee of under 1% and support for the UK’s primary payment solutions, Mode Banking can become a very valuable addition to the ecosystem.
Having the support of a Twitter co-founder is rather prominent for such a young company.
Parent firm R8 Group raised $5 million in funding in April 2019.
More solutions bringing Bitcoin to the masses will help the cryptocurrency ecosystem grow and evolve.
There is always a need to attract more people.
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