The cryptocurrency industry has grown exponentially over the past year, expanding the pool of investors and market participants to record levels. Though cryptos have now permeated mainstream investing, what is less clear are the optimal ways to buy Bitcoin (BTC) or Litecoins (LTCs) without incurring absorbent fees.
Both BTC and LTC cryptos have been available for purchase, transactions, and trading for several years now. However, the industry has evolved such that fees and other transaction barriers have been reduced to new lows. Leading this trend has been Cryptopay, which recently supported new cryptos purchasing measures.
Cryptopay has joined a growing group of venues that have streamlined crypto purchasing. Cryptopay differs from its peers however with its competitive pricing structure, enabling some of the lowest fees and transaction costs of any group in regard to Bitcoin or Litecoin purchasing.
Streamlined credit, debit card usage
One of the most important attributes of Cryptopay is the ability to link normal credit and debit cards. With Cryptopay, users no longer are forced to deal with days of lengthy wait times via third-party payment gateways and questionable transactions.
Linking to major debit and credit cards is a huge draw for users, as many venues offer limitations in the fine print. Additionally, Cryptopay charges a competitive fee of just 4 percent for both Bitcoin and Litecoin. This figure is comparable to even traditional payments options such as PayPal, in essence setting a new standard for transactions.
This number is also substantially lower than other competitors such as Bitsamp, Coinhouse, Cex.io, or others, as many of whom charge at least 5-10 percent fees for debit or credit cards. In terms of limits for Bitcoin and Litecoin purchasing, Cryptopay also takes the lead relative to its peers. Larger limits makes purchases with these cryptos easier than ever – historically users have been encumbered by small daily limits causing many to miss out on getting in on fast-moving crypto markets.
This is not the case with Cryptopay as both Bitcoin and Litecoin can be purchased through major fiat currencies, including the British pound, euro, and the US dollar. Limits are scalable, which helps cater to a wide range of clients. The limits start at €1000 daily, and €5000 monthly for both leading cryptos. This framework is quite versatile, helping support larger purchases as well.
By comparison, other online exchanges offer a much more rigid structure. Most other exchanges average less than €700 per month starting out, with other regional restrictions as well. Cryptopay offers its service on a global basis, available for verified users, with limits slated to increase over time, potentially increasing to €50,0000 monthly.
This figure would reflect the highest monthly limit available today, besting Coinbase, CoinMama, and others. The competitive fees and pricing structure come as no surprise for users of Cryptopay, which has emphasized the importance of instantaneous transactions and transparency measures in 2018.