Edge Partners with Simplex on ‘Crypto Cash Out' Functionality
- The new feature enables the wallet's customers to use their cards to transact Bitcoin, Ether, Litecoin, and Ripple's XRP.
Edge, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term asset security platform and mobile cryptocurrency wallet, has announced a partnership with Israeli-based credit card payments provider Simplex. This collaboration allows Edge’s users to sell several Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term to their Visa and Mastercard credit or debit cards.
The “crypto cash out” functionality went live in a beta release today, enabling the wallet's customers to use their cards to transact Bitcoin, Ether, Litecoin, and Ripple's XRP.
Edge was founded in 2014 as a security-centric blockchain platform and multi-asset wallet. The company rebranded from Airbitz to Edge Wallet in 2017 to offer an open source, non-custodial wallet, which employs a modular architecture that allows it to transact with different coins.
Although the exact details of the partnership were not disclosed, Simplex often charges 3.5 percent of a transaction, with a $10 minimum purchase amount. The company also applies various restrictions including a $20,000 maximum for daily transactions when using a credit or debit card, as well as a $50,000 maximum monthly limit.
Credit and debit card processing for crypto purchases
Simplex has signed partnerships with leading crypto exchanges, most recently with Binance to enable users to buy cryptocurrencies with their credit cards directly on Binance.com The service is also subject to area restrictions, with users in countries like Cuba, Iran and Iraq are prohibited.
Commenting on the news, Edge CEO Paul Puey, said: “We are incredibly excited to offer this new functionality in partnership with Simplex. Simplex has been an early leader in offering crypto payment processing, allowing people to acquire bitcoin and other cryptocurrencies with credit cards around the world. Now users have the freedom to effectively spend crypto directly from their credit card of choice. Since our founding in 2014, making crypto usable as a transactional currency has been one of our top priorities and this new functionality brings us a major step closer to that dream.”
Nimrod Lehavi, Simplex CEO, added: “We’re thrilled to expand our long-standing partnership with Edge and start enabling users to cash out of crypto and not only to buy into crypto. One of the main concerns of mainstream new users is cashing out after they have bought in, and we’re excited to start enabling it. We’re certain that this capability will increase crypto adoption by freeing users to do as they see fit.”
Edge, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term asset security platform and mobile cryptocurrency wallet, has announced a partnership with Israeli-based credit card payments provider Simplex. This collaboration allows Edge’s users to sell several Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term to their Visa and Mastercard credit or debit cards.
The “crypto cash out” functionality went live in a beta release today, enabling the wallet's customers to use their cards to transact Bitcoin, Ether, Litecoin, and Ripple's XRP.
Edge was founded in 2014 as a security-centric blockchain platform and multi-asset wallet. The company rebranded from Airbitz to Edge Wallet in 2017 to offer an open source, non-custodial wallet, which employs a modular architecture that allows it to transact with different coins.
Although the exact details of the partnership were not disclosed, Simplex often charges 3.5 percent of a transaction, with a $10 minimum purchase amount. The company also applies various restrictions including a $20,000 maximum for daily transactions when using a credit or debit card, as well as a $50,000 maximum monthly limit.
Credit and debit card processing for crypto purchases
Simplex has signed partnerships with leading crypto exchanges, most recently with Binance to enable users to buy cryptocurrencies with their credit cards directly on Binance.com The service is also subject to area restrictions, with users in countries like Cuba, Iran and Iraq are prohibited.
Commenting on the news, Edge CEO Paul Puey, said: “We are incredibly excited to offer this new functionality in partnership with Simplex. Simplex has been an early leader in offering crypto payment processing, allowing people to acquire bitcoin and other cryptocurrencies with credit cards around the world. Now users have the freedom to effectively spend crypto directly from their credit card of choice. Since our founding in 2014, making crypto usable as a transactional currency has been one of our top priorities and this new functionality brings us a major step closer to that dream.”
Nimrod Lehavi, Simplex CEO, added: “We’re thrilled to expand our long-standing partnership with Edge and start enabling users to cash out of crypto and not only to buy into crypto. One of the main concerns of mainstream new users is cashing out after they have bought in, and we’re excited to start enabling it. We’re certain that this capability will increase crypto adoption by freeing users to do as they see fit.”