I was involved in blockchain from the very early days, and as bitcoin started to gain traction, I was constantly trying to buy more and was frustrated by the difficulties to access and invest in cryptocurrencies. We focused on facilitating credit card purchases as this is the most useful means for users to make those purchases.
Simplex has built a broad, global, and secure fiat infrastructure for crypto exchanges, making credit card transactions fraudless and risk-free for them.
We are the pioneers of this industry, and none of the other vendors have the liquidity network, fraud detection, and banking relationships to enable a similar zero-risk business for global crypto wallets and exchanges.
Like every industry, the crypto space is maturing and slowly integrating with the traditional finance industry. I believe the ecosystem will learn how to work with regulators, and new banking solutions will help bridge that gap even faster. To continue growing, crypto will need to make sure regulators can sleep well at night, and users can integrate crypto into their every day’s financial life.
We are growing fast and adding more ways for users to access and use crypto. We have started from credit cards, as it is the most common and usable way for people to purchase anything, but in 2020 we will add new and alternative payment mechanisms. Simplex is also an EU licensed financial institution (EMI) and is planning to revolutionize the way people buy, sell and spend crypto, as part of new banking experience, we will be launching, together with our partners.
Despite being a hub of innovation for global crypto developments and platforms, the local market has been slow to adapt, and the banking system is closed for business, as far as the crypto companies and investors. This does not stop investment growth, and we can see that Israel is one of the top sources of trades on global exchanges.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!