Cashila Bitcoin Exchange Adds SOFORT Payments

JP Buntinx | January 27, 2016 | 10:00 am
Cashila Bitcoin Exchange Adds SOFORT Payments For Instant Purchases

Cashila Bitcoin Exchange Adds SOFORT Payments

JP Buntinx | January 27, 2016 | 10:00 am

Bitcoin exchange platforms are looking at various ways to make the process of buying and selling Bitcoin more convenient for their users. Especially when it comes to buying Bitcoin, there is a growing need for faster payment solutions, as the price can act volatile at certain times. Novice users want to top up their exchange account balances in a heartbeat, and Cashila has integrated SOFORT banking to provide exactly that service.

Also read: CoinFest 2016 to Hit Over 30 Cities Worldwide

Making Digital Currency Purchases Faster With Cashila

One thing everyone in the world will know about Bitcoin is how the price can fluctuate at certain intervals. This can be of particular annoyance when buying Bitcoin from an exchange, but having to wait for one to five business days before a bank transfer clears. Once the funds have arrived, the customer will either get more or fewer bitcoins for their buck, rather than the specific amount they wanted.

Cashila wants to address this problem by introducing SOFORT payments for European customers. The main benefit of this new payment method is how users can top up their exchange account balances in a matter of minutes, rather than waiting several days. In the end, novice users will be able to reap the benefits from doing so, which will, in turn, help boost Bitcoin adoption around the world.

Several Bitcoin exchanges in Europe offer a similar type of instant payments, and the competition in this space is heating up. Consumers have been asking for faster deposit options when buying Bitcoin, and SOFORT provides them with exactly that. Keeping in mind how this payment option is available in 13 European countries so far, Cashila is taking a large step to becoming one of the top European Bitcoin exchanges.

Cashila CEO Tim Mitja Zagar stated:

“Making transactions effortless is an essential step for the growth of the bitcoin economy. With the help of SOFORT integration one can now buy bitcoins in real time. It gives our users the ability to easily and instantly top up their account. Once they do it, they can buy bitcoin right then and there.”

One could argue that Bitcoin ATMs provide a way for consumers to buy Bitcoin instantly, without having to rely on bank accounts. At its core, that statement is certainly true, but people have to take into account how Bitcoin ATMs will charge high fees for converting fiat to Bitcoin. Most of these machines will charge between 5% and 7% per transaction, which is quite expensive.

Frictionless Bitcoin Buying Without Hidden Fees

The service offered by Cashila is straightforward and simple, as it removes any friction associated with using a Bitcoin exchange. Waiting periods are not fun for anyone, especially not when finances are involved. Cashila removes that waiting period altogether, by letting consumers buy Bitcoin instantly, as long as their bank supports the SOFORT protocol.

Signing up for the service requires an email address and password. For those novice users who are not planning to buy more than 1,000 EUR worth of Bitcoin per year, no further verification will be needed. Exceeding this threshold leads to submitting an ID scan to verify one’s identity, and the process will take anywhere between one hour and twelve hours.

Last but not last, Cashila is all about transparency, as there are no hidden fees associated with using the platform to buy Bitcoin. There is only one fee associated with this platform, which is a 1% surcharge on incoming transactions.No monthly maintenance fees will be charged at any time.

Source: Press Release Via Email

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