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Cryptowire Collaborates with Bitget for Fiat-to-Crypto Conversions
Cryptocurrency exchange Bitget has partnered with payment solutions provider OnRamp to facilitate the seamless conversion of fiat money into cryptocurrencies. This partnership aims to provide users with convenient and efficient methods for depositing various fiat currencies and acquiring cryptocurrencies.
Supported Currencies and Payment Methods
- Indian users can now use United Payments Interface (UPI) and Immediate Payment Service (IMPS) for INR deposits.
- Users in Nigeria, United Arab Emirates, and Mexico can deposit NGN, AED, and MXN respectively through bank transfers.
- Vietnamese users have the option to use VietQR, a mobile QR code payment system, for VND deposits.
This diverse range of supported currencies offers users flexibility and ease in converting between crypto and fiat currencies.
Zero-Fee Offer and Enhanced User Experience
Bitget is extending a zero-fee offer for all cryptocurrencies as part of this integration, complementing its existing policy of fee-free Bitcoin (BTC) and Ethereum (ETH) transactions. This move aims to enhance the overall user experience and make cryptocurrency trading more accessible.
Bitget’s Focus on Emerging Markets
Bitget’s partnership with OnRamp is strategically aimed at targeting emerging markets and providing users with familiar banking channels to acquire cryptocurrencies without incurring additional fees. OnRamp’s compatibility with various blockchain networks and developer-centric approach ensures a seamless onboarding process for new users.
OnRamp’s emphasis on accessibility in emerging markets is evident in its integration of popular services like UPI and IMPS in regions such as India. These integrations help reduce transaction failure rates, thereby improving user accessibility and experience.
Driving Mass Adoption of Crypto
Gracy Chen, Managing Director at Bitget, expressed the company’s commitment to driving mass adoption of cryptocurrencies through this integration. By simplifying the conversion process between crypto and fiat currencies, Bitget aims to accelerate a global financial revolution that is inclusive and accessible to people worldwide.
In December, Bitget witnessed a significant surge in new user registrations, surpassing the total number of registrations from December 2022 by 20%. The exchange reported that 89% of these new users entered the crypto market, with a majority (61%) choosing to invest in Bitcoin.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
