Cryptocurrencies came into being with the sole motto of creating an alternative for traditional banking and fiat currencies. The space itself has become a potent option for users who are willing to invest in crypto companies, rather than in equity or forex.
However, the payments options for crypto purchases have been, somewhat, limited in terms of buying digital tokens, as many crypto exchanges across the globe allow users to pay only via USD and/or their native currencies. There has always been a demand for multiple currency payments, which give users more liquidity and the much necessary options to choose from.
Similar demands had been made by the users of VertBase time and again. Finally hearing the requests, the platform tweeted earlier in the week that it will allow users to buy and sell cryptocurrencies with GBP and EUR.
@Vertbase rollout GBP & EUR support for buys and sells 1st May. @vertcoin @DigiByteCoin @bitcoincoreorg @litecoin @NAVCoin @decredproject @dogecoin @DigiByteCoin @Ravencoin @jaredctate @marco_peereboom @tronblack
Thanks for the support!
— 𝐕𝐞𝐫𝐭𝐛𝐚𝐬𝐞 (@vertbase) April 24, 2019
As per the tweet, the platform will start accepting GBP and EUR for crypto transactions from 1st of May this year. The platform also shared a link to its official blog on medium.com. As per the blog, the newly listed fiat currencies will be available to transact for digital tokens include Litecoin, Bitcoin, Dogecoin, Vertcoin, Ravecoin.
VertBase is a crypto trading platform, which is focused on providing a gateway to crypto assets which are not supported by major crypto exchanges. The US-based exchange aims to expand its reach in underserved markets of Europe and Britain. The platform stated,
“Enabling the purchasing of digital currency with the British Pound and Euro was an important goal for VertBase in its mission to improve access to numerous digital currencies and assets for consumers worldwide. With our expansion to British and European markets, we hope to make a positive impact on the industry and the projects which we support within the industry.”
There are new entrants in the crypto space almost every week. In all, there are over 1,600 active cryptocurrencies, and most of them are not even known worldwide. The space is totally dominated by larger tokens like Bitcoin, Litecoin, Ethereum, and Dash, which leaves smaller and lesser-known cryptocurrencies with less or almost no support from trading platforms. As per a data revealed earlier this week, out of the total 4,654 crypto ATMs across the globe, Bitcoin is available on 4,649.
These challenges make most of the lesser known digital tokens almost irrelevant, and often, many are left with only the option to withdraw operations. Therefore, the emergence of platforms like VertBase is extremely important, as they seem to be the only hope for the lesser known cryptocurrencies.
The world knows the importance of cryptocurrencies, and various business sectors are adopting them. Several experts of traditional businesses have repeatedly predicted that cryptocurrencies will cover MajorityCharity of the economy shortly. However, if the crypto space needs to penetrate underserved or unexplored markets, it would require tokens with lesser value to also fire up.