One of the more interesting financial news stories over the past few weeks has been the acceptance of Bitcoin payments by popular online payment service NETELLER. This change has been made possible thanks to the partnership between NETELLER and BitPay, the world’s leading Bitcoin payment processor and we now also have the very first Bitcoin merchant to partner with NETELLER, in the form of Coinimal.
NETELLER Accepts Bitcoin
It came as a big surprise to the Bitcoin community when news broke that NETELLER was suddenly accepting Bitcoin as a deposit method. Considering the terrible year Bitcoin has had in terms of media headlines, it was due time for some positive news. NETELLER provides us with exactly that, as they are one of the largest online payment processing companies in the world.
NETELLER is a company processing millions of dollars worth in transactions on a global scale. Part of their success can be attributed to the vast array of services provided by them, such as prepaid debit cards and multi-channel online payment solutions. And when such a major company sees the benefit of adopting Bitcoin as a payment method, good things are bound to happen sooner rather than later.
One of the main benefits of the partnership with BitPay is that all of the NETELLER prepaid debit cards in circulation right now can be loaded with Bitcoin. On top of that, NETELLER is integrated with thousands of merchants worldwide, giving Bitcoin customers access to even more opportunities to spend their digital currency wealth for everyday purchases. Plus, in doing so, you save 5% cash advance fees and currency conversion fees.
Coinimal Partners With NETELLER
Coinimal is a well-known brand in Europe, as they are a European Bitcoin and digital currency gateway. By adding the NETELLER payment option to their platform, millions of customers around the world will have access to instant deposits and withdrawals. This is an unprecedented move that sets a precedent for future partnerships between Bitcoin-related services and traditional payment method platforms.
Keeping in mind that Coinimal was only launched on December of 2014 and is located in Vienna, Austria, they are not wasting any time to set their mark on the Bitcoin market in Europe. Regardless of how you look at it, obtaining Bitcoin for European customers is still a tedious task, which is something Coinimal aims to improve over time.
Note from the Author: Coinimal is not just focusing on Bitcoin, as their services are also available for buying and selling NXT and Litecoin.
By partnering with an established partner such as NETELLER, Coinimal takes the first step on the road to becoming an established European Bitcoin and cryptocurrency gateway. Payment options such as credit and debit cards, prepaid cards and bank transfers can now all be used to purchase Bitcoin, facilitating the initial process for novice users.
Furthermore, cash accounts can now also be funded with Bitcoin, thanks to NETELLER’s fully-automated platform. Even though this is the first foray in the world of digital currency for NETELLER, negotiations with Coinimal have been ongoing for a few months prior to this announcement.
‘In my opinion NETELLER decided to do this pilot project with us because they feel that we are the most sophisticated, serious bitcoin gateway in the world, and our compliance is stellar. We are extremely proud to be the first crypto merchant in the world to accept NETELLER officially.’ Coinimal CEO Paul Klanschek told DigitalMoneyTimes.
Source: Press Release via Email
Images courtesy of NETELLER and Coinimal