More and more Bitcoin exchange platforms are trying to implement credit and/or debit card payment options into their system. This may seem like an illogical choice when you consider the huge amount of fraud and chargebacks associated with credit cards. Then again, most everyday people have a credit or debit card, and if we want to grow the Bitcoin community, you have to take a leap of faith. UK-based Netagio is the latest addition to the list of Bitcoin-related services to integrate credit and debit card payments.
Netagio – The Only Audited Bitcoin Marketplace
Netagio is proving to be quite the interesting Bitcoin-related company. Just last year, they were touting the fact that their platform allowed users to exchange Bitcoin and gold. However, that didn’t last too long as Netagio decided to remove that option form their platform during Q3 2014. But the Netagio team didn’t sit by idly as time went on though.
Ever since that time, Netagio has evolved into becoming the only world’s only audited Bitcoin marketplace. Besides Bitcoin, the platform also supports traditional fiat currencies in the form of USD, EUR and GBP. With the addition of credit and debit card support, it has become a lot of easier for their customer base to purchase, trade and sell Bitcoin with these supported fiat currencies.
UK-based Netagio services customers in no less than 114 countries around the world, and all of these customers can now use their Visa, Visa Electron, Visa Debit, Mastercard, Mastercard Debit or Maestro cards in order to trade fiat currency against Bitcoin. Unlike traditional bank transfer deposits, which take between one and three business days to complete, credit and debit card funding will take up a lot less valuable time.
Similar to other BItcoin-related platforms which have enabled credit and debit card payments, Netago is not processing the payments themselves. Thanks to the recent partnership with WalPay, a Payment Services Provider based in the Isle of Man, Netagio also gained robust banking relations as well as the possibility to process credit and debit card transactions.
“Our customers will always be our number one priority. We recently expanded our order books to USD and EUR in response to customer feedback and now also offer a choice of payment methods, with our new credit & debit card payments in addition to the traditional banking payments. The US and Europe are the largest markets for Bitcoin trading, after China, and as such present a great opportunity for retail and institutional investors wishing to access these markets,” Netagio CEO Simon Hamblin told the media.
The processing of credit and debit cards is the next step in Netagio’s strategy for becoming a global player, after they launched USD and EUR order books in December of 2014. A little known fact is that Netagio processes 27% of all Bitcoin trading in USD and 2.5% of all Bitcoin transactions in EUR. With all types of customers now being able to buy and sell Bitcoin for USD, EUR and GBP in a fast, easy and secure manner, these numbers are expected to increase over the next few months.
A Welcome Change for International Customers
Netagio’s international customers will rejoice at hearing this news, as they will no longer need to make deposits in GBP to buy Bitcoin. Furthermore, this change also removes any exchange-rate potential cost implications. With customers around the world being able to deposit in their local fiat currency, and allowing them to use credit and debit cards, Netagio reaches a new milestone in the competitive Bitcoin space.
Speaking of reaching milestones, the Netagio team has been working diligently ever since the platform launched in 2013. Not only did Netagio introduce the world’s first free gold-standard offline security vault in January 2014, but they also become the first Bitcoin business to be independently audited and receive an ISAE 3000 standard for its Bitcoin storage in September 2014.