Coinify, the cryptocurrency based payment solution provider has announced a new strategic partnership with Bcash. The new partnership allows Bcash — one of the leading Bitcoin exchanges in Greece to offer card payment option to its customers.
The number of Bitcoin platforms accepting card payments is numbered. Bcash’s partnership with Coinify adds one more platform to that list. The new partnership will benefit not only Greek but the whole European Bitcoin community.
The lack of easy access to Bitcoin is one of the main reasons for the cryptocurrency’s slow adoption rate. On most cryptocurrency exchanges, the only way a user can deposit fiat to buy Bitcoin is through wire transfer. Wire transfer and direct bank deposits may take anywhere between hours, days or even weeks depending upon the geographical location, but with card payments it is instantaneous. Also, it is more convenient for the users to make a credit or debit card payment than going through the hassles of wire transfers of other third party payment applications.
The partnership was announced by Coinify in its recent blog post. The post quotes Palvos Tsolaridis, the Director of Bcash saying,
“Our company has been involved in a very friendly but at the same time competitive and fragile industry and we are glad that we found an ally in Coinify. As a team, Bcash Greece Inc. believes this can be the start of something revolutionary and at last Bitcoin can be embraced and used by a larger group of people. I believe that simplicity is the key to everything and Coinify just made it happen.”
In order to buy Bitcoin on Bcash using Coinify’s payment solution, users will have to first register and submit the mandatory AML and KYC documents. Once the authentication process is finished, they can use their bank cards and start purchasing cryptocurrencies.
Coinify believes that the partnership with Bcash has come at the right time as the adoption of Bitcoin continues to increase in Greece. Following the financial crisis, which saw strict capital controls and banks running out of cash, people started looking for alternatives. The Greek cryptocurrency ecosystem has since then matured and also led to the creation of few digital currency alternatives. By making it easier to buy Bitcoin, Coinify stands a chance to further strengthen the community.
Ref & Image: Coinify
