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Matrixport allows for Crypto Purchases Via Credit Cards

Matrixport, a financial service platform with Bitmain affiliation, has recently entered a partnership with Simplex, a payment processing firm licensed by the EU. This will allow users to purchase a select number of cryptocurrencies through the use of their debit or credit cards.

20 Fiats For 6 Coins

Through the new partnership with Simplex, users of Matrixport, spread all over the world, will now be capable of using their Mastercard or Visa to buy seven different kinds of cryptocurrencies. In particular, users will be able to buy Ethereum (ETH), Bitcoin (BTC), buy Bitcoin Cash (BCH), buy Ripple (XRP), Litecoin (LTC), as well as Tether (USDT). Users will be able to pay either on the mobile app of the platform or via the website. This comes according to a press release the platform had sent.

According to the announcement, this new integration includes the support of 20 different fiat currencies, all capable of being used to purchase crypto. Among these fiats stands the Euro, the US Dollar, the British Pound, the Russian Ruble, as well as the Japanese Yen.

Noting the Popularity of Dual Currency-USD

This new partnership allows for the use of the financial products that Matrixport provides, such as the Duel Currency-USD. This stands as an investment setup that supports the payments of stablecoins that were made in USDT and USD Coin (USDC).

John Ge stands as the co-founder as well as the CEO of Matrixport, and had further co-founded the China-based crypto mining giant, Bitmain, alongside Jihan Wu. Through a public statement, he explained that Matrixport’s Dual Currency-USD stands as one of the platform’s most popular products. This is due to the people being able to invest in USDT and USDC and earn far higher returns compared to what they can get elsewhere from bank deposits and most funds.

New Features Streamlining Experiences

Ge explained that in the past, Matrixport’s customers had to purchase the USDT/USDC from somewhere else, then transfer it to their platform separately.  With the new support for Simplex, the process is significantly streamlined and makes attractive returns be at your fingertips, according to Ge.

Matrixport guarantees its users the highest degree of security possible when it comes to their credit card purchases, according to the press release. This is due to all merchants apparently being fully compensated by Simplex in the event of a fraud chargeback. In terms of fees, however, Simplex issues out a charge of 3.5% of the value of the transaction.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.