Cashaa now provides a better alternative for users to purchase crypto. With this development, those who use Cashaa can now buy Ethereum, Bitcoin, or its native CAS token by making use of credit and debit cards. Unfortunately, clients who reside in the United States cannot make use of this service at the moment.
According to Kumar Gaurav, the founder, and CEO of Cashaa,
This functionality was constantly being asked by our existing personal users from more than 109 countries. There is no major wallet like Blockchain.info or Bitgo that are offering this service, while the ones who are offering it, are charging higher markup fees on Bitcoin.
Speaking further, he said that allowing this feature will also help the users to purchase crypto as an e-commerce experience. They will neither pay high fees inside their multi-sig wallet nor add any other markup fees on the price of Bitcoin.
It is highly affordable
The announcement also says that the platform will charge 4 percent fee to process cards which the European Union issues and also charge 5 percent on cards which European Union does not issue.
Additionally, they will charge an extra service fee of 1.49 percent, and this is likely to reduce to 0.75 percent if an individual uses their CAS token for payment, and 0.40 percent if it is a business that uses it.
The platform has equally set an upper limit of EUR 10,000 on the transaction that one can perform on the site.
Cashaa launched this service on 8 April and is now providing banking services to the crypto companies. It also aims at reaching businesses which are not finding it easy to get essential banking services from large banks. According to the company, up to 173 firms that are related to crypto have already joined the first beta phase.
Brings flexibility to crypto purchase
Although the service is just joining the league recently, some major exchanges like Binance, Liquid, and OKEx are already allowing their users to use a card to pay for crypto assets. They are all aligning with Simplex so that they use its payment gateways that are free of risk.
Do you think enabling card payment for crypto will further boost buyers’ confidence?