Yesterday, Celsius Network announced on its official Twitter handle about how its clients can now purchase cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) with the help of regular credit cards and debit cards that we use in our day to day life. The move by Celsius Network is an important step towards making blurring the gap between the crypto world and the traditional fiat currency world.
The US-based startup- Celsius Network is offering these features to its clients through an app that will feature an in-app crypto purchase option. This app has come forth through the partnership of Celsius Networks and Simplex (a payment provider that deals in fiat to crypto payments).
What does the Celsius Network app offer?
Simplex, as per reports, will start offering its customers direct crypto purchases, which they can make through the Celsius Network app. This will enable the users of the platform to:
- Purchase cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) with the help of credit cards or debit card payments.
- All the major credit card issuers are supported on this platform, which includes- Visa as well as the Mastercard.
- Reports reveal that there will be a ‘significant cut in the cost of unloading Bitcoin on the platform.’
- The transaction fees on the app will go down by a minimum of 50 percent.
- In addition, the cryptocurrency purchases with credit cards will be available at a 3.5 percent fee.
- At the launch, Celsius Network announced that at the moment, the clients would be able to use only the U.S. Dollars as the payment option on the platform.
- Further, on a monthly basis, the clients will be allowed to make a maximum of 20 K U.S. Dollars purchase on the platform.
The major crypto enabled payment processor- Simplex has recently opened the gates to 15 new fiat currency payment options, which will also be available through Visa and Mastercard purchasing gateways on Binance. This raises the expectation that maybe soon Celsius Networks too will offer new payment options in the coming future. We need to wait for that to happen. In the past, Simplex has served other major fiat to crypto trading platforms such as OKCoin, and KuCoin, which is a Singapore based platform.