As cryptocurrency becomes more popular across the globe, it is important that the crypto industry is as accommodating to new users and put systems in place to facilitate increased activity. One of these is the ability to buy crypto with greater ease, especially with fiat currencies which are chiefly accepted.
In light of this, Polkadot has announced that it is the latest platform to adopt Simplex’s fiat on-ramp to make the process easier for its users. Thanks to this new partnership, users can buy Polkadot’s native DOT token using their debit or credit cards.
Buying Tokens Made Simpler
According to the official announcement, the firm is seeking widespread crypto adoption and acquisition with this new move. As such, users can purchase DOT tokens using not only fiat debit and credit cards but also with Apple Pay and bank transfers. With the integration of DOT, one more token can be accessed with more ease, the announcement says.
Currently, Simplex works with over 350 crypto firms and exchanges like Binance and KuCoin and also enables the buying of over 50 different cryptos. As cryptocurrency itself is becoming more popular and widely accepted, it is likely that Simplex’s network will grow even more.
“Simplex supports hundreds of fiat currencies and enables the purchase of over 50 cryptocurrencies through its network of partners. Adding Polkadot (DOT) to the list of supported assets brings the world one step closer to mass cryptocurrency acquisition and adoption,”.
This move also benefits DOT as projects which were listed with Simplex have seen their market price increase. This is likely due to the increased accessibility for customers who do not need to first buy a different coin and then exchange it for DOT but can instead buy it directly now.
Crypto Buying in the Future
In the future, cryptocurrency will likely be used more widely across the globe, and with this increase in usage, crypto cannot remain at its current level of accessibility. Instead, it must be as easily accessed as fiat currency if it is to compete with fiat.
With developments like this, however, innovative crypto projects can reach the masses with more efficiency, and this benefits the industry at large.