- Huobi exchange now allows direct purchase with Visa and Mastercard.
- The exchange is posed to enable a streamline on-boarding process for users.
As the cryptocurrency industry advances, exchanges continue to accelerate adoption by exploring and enabling quick and convenient ways for the public to buy cryptocurrencies. Today, Huobi exchange walked through this path and will now allow its customers to purchase cryptos through their Visa and Mastercard cards, right from the platform.
Huobi exchange streamlines card payment option
Basically, customers can now purchase Bitcoin, Ether, Ripple, Litecoin, etc., from the exchange’s interface without having to leave the platform. Previously, the crypto buyers were usually redirected to other webpages or third-party payments portal when using credit or debit cards from Mastercard and Visa.
The card users on Huobi exchange were redirected as know your customer or KYC verification process. Although the transactions are secured, some people dislike the idea of redirection, and it also constitutes more time. “By removing an extra step in the user journey, we’re creating a frictionless experience,” a Huobi Group executive, Ciara Sun, commented.
Huobi ease down crypto entry barriers
According to Huobi exchange, the new payment service integration was developed by Huobi Global’s blockchain company, also known as Huobi Technology. Australia and other countries in Europe can be able to use the service to buy any cryptocurrency supported on the platform via Visa cards. Customers in the U.K., Netherlands, Poland, Gibraltar, Australia, Czech Republic, and France can use their Mastercard.
Judging by the recent update from the exchange, Huobi is focused on easing down the barriers to entry for its customers. Noteworthily, the development today is coming soon after the cryptocurrency exchange rolled out the fiat-to-crypto gateway, allowing users to directly buy crypto using their fiat currency. The gateway was specifically launched for the EU and Australians, as Cryptopolitan reported.
The gateway integration stemmed from the exchange partnership with Banxa. This will help users to avoid the cost of currency conversion when buying crypto with their local currency.