Prominent crypto payment services platform BitPay is partnering with fintech firm Simplex to provide fee-less crypto purchases for US users.
Leading Bitcoin (BTC) and crypto payment services platform BitPay recently announced a collaboration with payment processing gateway Simplex. Under this initiative, US residents will now be able to purchase crypto seamlessly without fees through the BitPay Wallet app. In addition, they will be able to facilitate this using a slew of payment methods. These include the BitPay debit card, Apple Pay or Google Pay. However, according to a BitPay press release, the fee-less payment options will only be for a limited period of time.
Collaboration of BitPay and Simplex
BitPay chief executive officer Stephen Pair weighed in on this recent promotion saying:
“For those consumers in the US who want to try out crypto for the first time, this is a straightforward way to purchase, store and spend crypto through the BitPay Wallet app integration with Simplex. BitPay wants to help consumers start to live life on crypto and by working with Simplex, we make it simple to acquire crypto by eliminating the need for users to navigate to a cryptocurrency exchange to fund the wallet.”
Nimrod Lehavi, founder and chief executive officer of Simplex, also commented on his platform’s initiative with BitPay. According to Lehavi, the intricacies that accompany buying crypto, such as using a debit or credit card, make it unappealing to newbies. Lehavi asserted that the Simplex-BitPay promotion looks to forgo those hassles and create a level playing field across the board. The Simplex CEO concluded by remarking, “Together, Simplex and BitPay are making it possible for consumers to enter the crypto space.”
How the BitPay Wallet App Works
The BitPay Wallet App allows users to perform a host of crypto transactions. Furthermore, the new competitive pricing makes it even more affordable to experienced and newbie US crypto buyers. They can choose to send, receive, and buy digital currencies from within the app. In addition, the aforementioned user class can also check the price of crypto as well as securely store funds within the app.
The platform also allows users to buy gift cards from several leading online and in-store retailers using popular digital currencies. Supported options include Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), and Wrapped Bitcoin (WBTC). In addition, five USD-backed stablecoins are also usable for transactions. They include BUSD, DAI, GUSD, USDP, and USDC.
The BitPay Wallet App is available on iOS, Android, Linux, and Windows 10 operating systems. Users can select the Buy Crypto option, enter the desired amount in US dollars, and choose the preferred digital currency. Finally, users get to select Simplex as the payment option to complete the transaction process.
Simplex, founded in 2014, is a fintech firm that facilitates online crypto merchants with fraud-free payment processing. In September this year, it was acquired by Nuvei, a leading global payment technology provider, for $250 million.