BitMart Opens Fiat Deposit Service, Lowering the Barriers to Entry for New Investors
BitMart Exchange, a premier global digital asset trading platform, recently announced their partnership with the EU authorized financial institution — Simplex to offer credit/debit card deposit service. This move will ensure a more convenient and smoother digital asset investment experience for BitMart users.
In 1989, a digital currency company called DigiCash was created by David Chaum, an American computer scientist and cryptographer. DigiCash utilized a digital currency called “cyberbucks” that provided both anonymity to the users and security to the merchants. However, it fell prey to a mixture of internal strife and centralized infrastructure, which stopped it from becoming a widespread online payment mechanism. Until the invention of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double spending, the fundamental security problem in trading process was more effectively solved.
“It is completely decentralized with no server or central authority,” said Satoshi Nakamoto, the unknown inventor of Bitcoin. Decentralized Bitcoin uses a distributed database to record all the transactions according to a specific algorithm, and the cryptographic design also reduces the credit risk in the transaction process. As a result, the Bitcoin dominated digital currency market has been growing exponentially over the past 10 years.
“The anonymity, low transfer cost and borderless nature of digital currency make Bitcoin an important member of world’s mainstream currencies.” said Sheldon Xia, Founder & CEO of BitMart. More importantly, the financial innovation driven by the blockchain technology behind Bitcoin has had a far-reaching impact on the way we live, making cryptocurrencies thrilling and fascinating. “Foreseeably, the digital assets dominated by Bitcoin will continue to become a mainstream investment in the next few years.”
Individual investor can now use either Visa or Mastercard to purchase Bitcoin (BTC) on BitMart Exchange. “The aim of the partnership between BitMart and Simplex is to offer our users with convenient and secure fiat deposit service, lowering the barriers to entry for new adopters of digital currency investment.” said Sheldon Xia, Founder & CEO of BitMart. This service currently supports BTC/ETH and is available in over 100 countries.