Everyday people want easy access to Bitcoin and other cryptocurrencies. Even though there are a lot of Bitcoin ATM’s spread out across the globe, it still doesn’t approach the ease-of-use from buying something in the comfort of your own home. Clevercoin, a Bitcoin exchange based in tHe Netherlands, recently added credit and debit cards to their list of payment options.
Credit and Debit Card Payments
Given the fact that most everyday consumers have a credit or debit card at their disposal, it is a huge market to conquer for Bitcoin exchanges. This is not as easy as one might think, as credit card are almost synonymous with chargebacks and fraud. In an article earlier today, we mentioned the consequences reversible payment methods could have for exchange platforms.
On the other hand, you have to commend Clevercoin for making such a bold move, as the company wants to expand their presence across the European continent. Speaking of expansion, Clevercoin’s BTC/EUR order book exchange is now available in more than 30 European countries, including Switzerland, United Kingdom and France.
Credit and debit card payments join other popular traditional payment methods such as iDEAL and SEPA bank transfers. But that is not all, as Clevercoin is already working on integrating more payment systems in the near future, as they want to keep expanding the number of options for users to safely and securely deposit funds.
It is important to note Clevercoin has partnered with a third party payment processor, called Lemon Way, in order to process credit and debit card transactions. No further details about the partnership were announced at this point in time.
Verification Procedure Changes
One of the major hassles of signing up for a Bitcoin exchange is the verification procedure. Clevercoin has changed their procedures significantly where the proof of address verification step is concerned. Submitting an ID scan or copy of your passport or driver’s license is still a necessity, and documents can be uploaded quite easily via the website.
Instead of submitting an internet bill or any other document verifying your place of residence, Clevercoin users can now opt to receive a letter at home. Once the user takes a selfie while holding up the verification letter and uploads it to the Clevercoin website, their address will be successfully verified.
“After focusing solely on Dutch customers and platform security for two months, it’s now time to open up to other European customers by accepting credit cards. We always strive to make bitcoins more accessible and easier to use. Starting today, we are one of the first to allow our customers to deposit funds with credit card,” Clevercoin CEO Karsten Nilsen told us.