The world of cryptocurrency has been visibly evolving day by day where it is becoming increasingly simpler for the users to buy, sell or exchange their digital assets in the smoothest manner possible. Now making things easier for its users is Huobi OTC. In its recent announcement, the leading OTC platform for digital assets across the globe has stated that it is enabling debit and credit card payments for its users.
The update was shared with global crypto enthusiasts on 17th April 2019 through Huobi OTC’s official handle on the micro-blogging site Twitter.
Going forward, as per the announcement, all the users of Huobi platform would also be able to use their MasterCard or VISA for depositing USD in order to purchase cryptocurrencies of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), as well as Litecoin (LTC). That means it will become a breeze for the users to trade on all the products of Huobi Global.
Huobi OTC has already made a name for itself in the crypto community as it provides users with a bridge that lets them carry out the exchange between their digital assets and fiats. The platform already supports over ten payment methods and more than 20 fiats for both buying and selling ETH, BTC, HT, EOS, HUSD, and USDT, safely and efficiently. All one has to do is post a buy/sell ad of their digital assets on the Huobi OTC platform and then complete the transaction with the involved party to get their digital assets exchanged with fiats. The actual payments are completed offline.
With the addition of credit and debit card payments, Huobi OTC has taken their professional and customer-centric services a notch higher. The move will not only offer users increased flexibility but will also give them more payment options to choose from.
To implement this new feature, Huobi OTC has partnered with Simplex, a reputed financial institution that holds the European Union license. Simplex is known for its trusted solutions for payment processing across the world.
At present, Simplex will only be accepting debit and credit cards that are issued by MasterCard and VISA. Other methods like Wire Transfers are not supported. In fact, Simplex recommends users to utilize their debit cards in order to avoid any kind of cash advance charges.
While utilizing credit/debit card deposit services, users have to comply with the set transaction limits. The predetermined everyday and monthly limits are 20 thousand USD and 50 thousand USD, respectively, which also includes the fees.