Digital fiat wallet Neteller launches new crypto exchange service

By | October 24, 2018

Digital currency wallet platform Neteller has just kickstarted its new service of buying and selling cryptocurrencies like BTC, BCH, ETH, ETC. This new add-on service is available and functioning 10 countries and has further future plans of providing this service to 50 different markets.

The wallet provider Neteller is controlled by Paysafe Financial Services, a subdivision of Paysafe Group Ltd. Paysafe was initially established in 1999 to give a digital substitute to the traditional payment system. Earlier this week on Friday the group officially made an announcement that Neteller has rolled out a new “in-wallet buy-and-sell cryptocurrency feature,” stating:

At present, current Neteller users are allowed to buy, sell and hold cryptocurrencies through a renowned crypto exchange which includes bitcoin (BTC), bitcoin cash (BCH), Ethereum (ETH), ethereum classic and Litecoin (LTC), could be bought using any of the 28 fiat currencies available on Neteller.

“We plan to bring in more currencies in the future,” Neteller’s official website says, all their users can now exchange into any cryptocurrencies from a range of 100 payment methods eliminating any additional verification process. The platform at present supports currencies like  Australian dollars, Brazilian reals, Canadian dollars, Euros, British pounds, Indian rupees, Japanese Yen, Mexican Pesos, Russian Rubles, Swiss Francs, U.S. dollars, and Colombian Pesos.

The payment methods available for funding a Neteller account includes Epay, Pay by Mobile, bank deposits, Paysafecard and bitcoin, as mentioned on its website. Funds can also be transferred via online banking from a range of registered banks

The firm claims that “The exchange rates we provide are highly competitive in comparison to the average market rate and rival firms which include major crypto exchanges.”

Paysafe further adds, “ The new crypto service launched by Neteller’s is available in ten countries with future plans of expanding in 50 additional markets in the coming months and to also make it available on their mobile app.

The minimum set amount for the purchase of a cryptocurrency “is round about equal to 10 EUR,”, adding large amounts depends on limitations levied on each individual account.

Each wallet on the platform provides an option of choosing your default fiat currency at the time of creating the account. The transaction fee for purchasing and selling cryptocurrencies from EUR to USD is set to 1.5 percent. The fee tends to rise upto 3 percent for wallets using other default currencies on the platform.

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About Joel Picardo

Joel Picardo has been in the Cryptocurrency space from the last 2 years and got to know about it through his mentor Arvind Borhade (CTO at U.CASH). He is also currently managing the operations at UCASH India. He is an individual filled with optimism and destined to be a billionaire in the future. His work ethic and dedication are second to none. He believes that Bitcoin and Blockchain would create a world of new opportunities.

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