Cryptocurrency exchange platform Bityard and P2P trading platform, Paxful have joined hands to offer crypto traders in Singapore access to numerous new payment options.
Starting immediately, Paxful’s web-based Virtual Bitcoin, Kiosk will be integrated and directly available on the Bityard platform for new and existing users.
Join your industry leaders at the Finance Magnates Virtual Summit 2020: Register and vote for the FMLS awards
The integration will now allow Bityard users to utilize Paxful’s peer-to-peer trading network directly to purchase BTC with 160 various fiat currencies into their accounts. Specifically, it allows Paxful to act as a fiat-to-crypto on-ramp for Bityard customers, providing access to over 300 different payment methods for buying cryptocurrencies.
This feature helps crypto exchanges onboard people who are new to cryptocurrencies by enabling them to purchase supported coins using their local currency. Some of the supported payment methods for purchasing cryptocurrency on Paxful include bank transfers, domestic wires, online wallets, gift cards and more.
The list of supported currencies includes Russian Ruble (RUB), Vietnamese Dong (VND), Indonesian Rupiah (IDR), Nigerian Naira (NGN), Colombian Peso (COP), British Pound (GBP), Mexican Peso (MXN), Canadian Dollar (CAD), Euro (EUR), and Argentine Peso (ARS).
Paxful Exits Venezuela
Paxful is now another Bityard fiat gateway partner, joining the list of similar providers that offer fiat-to-cryptocurrency on-ramps through diverse payment methods. However, Paxful’s support of hundreds of payment methods is the key differentiator, particularly in countries that apply restrictive banking rules. In such nations, residents of this country can use gift cards to buy bitcoin via Paxful to fund their Bityard accounts. Meanwhile, Bityard offers traders the ability to buy and sell crypto contracts using USDT on a number of major cryptocurrencies, including BTC, ETH, LTC, and more.
Paxful’s Virtual Bitcoin Kiosk grants users the ability to match instantly with sellers that meet the criteria of their trading needs based on currency and payment method. The company also continues to branch out from operating as a bitcoin-only platform since its launch in 2015, having recently added support for the Tether (USDT) stablecoin.
However, Paxful has recently sent a notice to its customers that it will no longer offer its services in Venezuela. The company’s decision to cease operation in the country, which leads the Latin American region in terms of crypto volumes, was apparently related to sanctions imposed by the United States on Venezuela.
Aside from Paxful and the similar P2P exchange, LocalBitcoins, Binance and KuCoin were among the few cryptocurrency exchanges serving users in hyperinflation-ridden Venezuela.