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- Partnership will offer Singapore’s crypto traders access to a number of payment options
- Paxful’s web-based Virtual Bitcoin Kiosk will now be available on the exchange platform of Bityard
- Mainly the firm also provides its service in several countries with restrictive banking rules, as in such countries
Singapore based Crypto exchange platform Bityard has partnered with Paxful, a global peer-to-peer platform to purchase Bitcoins. This new partnership will offer Singapore’s crypto traders access to a number of payment options. Paxful will act as a fiat-to-crypto for the users of Bityard and provide 300 different methods of payment.
What Features Will this Partnership Bring?
As Bityard allows Paxful to act as a fiat-to-crypto on their platform, Now the users of Bityard can access 300 different payment methods. Paxful’s web-based Virtual Bitcoin Kiosk will now be available on the exchange platform of Bityard, only for the new and existing users of Bityard. Now the Bityard’s users can easily access Paxful’s P2P network of trading cryptos and can purchase BTC with another 160 types of tokens into their account. New onboard users can now use these features to purchase supported tokens using their local currencies. Some of the available payment methods are bank transfer, domestic wires, online wallets, gift cards, etc.
Which Currencies are Supported on the Platform?
Not all but many currencies can be accepted on the platform to purchase cryptocurrencies. In the list of supported currencies to purchase includes Russian Ruble (RUB), Indonesian Rupiah (IDR), Mexican Peso (MXN), European (Euro), Vietnamese Dong (VND), Nigerian Naira (NGN), Colombian Peso (COP), British Pound (GBP), Canadian Dollar (CAD), and Argentine Peso (ARS).
What Differentiates Paxful from Other P2P Bitcoin Purchasing Platforms?
The key differentiator of Paxful is that the firm supports several different countries’ currencies and hundreds of payment methods for its users. Mainly the firm also provides its service in several countries with restrictive banking rules, as in such countries, the residence can use gift cards to purchase cryptos from their platform.
However, Bityard provides its users the ability to purchase and sell crypto contracts on a number of major cryptocurrencies like BTC, ETH, LTC, and more by using USDT. Paxful’s Virtual Bitcoin Kiosk allows its users the ability to match instantly with a trader that meets the criteria of the traders based on currency and payment method.
Paxful Stops its Services in Venezuela
Recently, Paxful has also announced that the firm will no longer provide its services to Venezuela’s customers and will cease its financial operation in the country. The firm may have decided this due to the sanctions imposed on Venezuela by the United States.
It seems like Paxful is willing to branch out its Bitcoin-only platform, since it established, and recently added for stablecoin support tether (USDT).
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With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
