Circle’s cryptocurrency exchange subsidiary, Poloniex, has been making moves to improve the accessibility of the platform.
New ways to buy crypto assets on Poloniex! Customers in 80+ countries can deposit or withdraw $USDC directly from their bank account. Customers in 60+ countries can now buy $BTC using their debit or credit card: https://t.co/WIhdScej5W
— Poloniex Exchange (@Poloniex) July 9, 2019
With the latest update, Poloniex now allows customers in more than 80 countries to directly deposit money into Poloniex and have it instantly tokenized to USD Coin (USDC). Additionally, customers can instantly convert their USDC to fiat with direct transfers to their bank accounts.
In addition to the new fiat exchange system, Poloniex has partnered with payment processor Simplex to allow customers to use their debit and credit cards to buy Bitcoin (BTC) directly on Poloniex. The luxury does come at a cost, however, as Simplex charges $10 or 3.5% (whichever is larger), in addition to the normal credit card fees.
The addition of direct card purchases is becoming the norm across the industry, as many exchanges including Binance and KuCoin previously added similar functionalities.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.