BTC.com Wallet Lets Users Buy BTC With Credit Cards

On January 17 BTC.com announced that wallet users can buy bitcoin in their digital wallet worldwide using credit cards
18 January 2018   265

BTC.com is a Bitcoin and BitcoinCash wallet, open-source and fully featured mining pool and a block explorer. The wallet has made an announcement stating that the users can now buy Bitcoin directly in their BTC.com wallet with a credit card.

To be able to buy Bitcoin the users should:

  • Create a new wallet or log in to their BTC.com wallet
  • Go to the Bitcoin section of the wallet.
  • Choose “Buy” in the menu.
  • To buy bitcoin with your credit card, select “Buy with Credit Card (Simplex)”
  • Choose the amount
  • Fill out the billing information
  • Enter credit card information to complete the purchase
  • Verify the identity

BTC.com instruction of buying BitcoinBTC.com instruction of buying Bitcoin with Credit Card

Currently, the minimum amount to buy is $50, or equivalent in BTC or EUR. At the moment, the credit card checkout is available for web wallet users via wallet.btc.com, and the team of BTC.com promised to release this feature for iOS/Android app users as well.

Moreover, it was stated in the announcement that buying Bitcoin Cash will be added in the near future.

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   75

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.