Changelly plans on introducing a fiat-to-crypto trading platform

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Posted on: April 21, 2020 6:17 pm EDT

The crypto wallet company is ready to expand its product line

One of the biggest challenges for the cryptocurrency industry has been on how to integrate the offered services with other currencies, like fiat. Changelly, a crypto exchange, is currently planning to launch a new service to offer trading options from fiat-to-crypto. This means that customers will have the chance to choose among the most reputable fiat providers in the world, and then use that to acquire cryptocurrencies at a good rate in a matter of three steps.

The crypto industry is still in development, and there are many exchanges already offering a wide range of options to buy and sell crypto, although it is not the easiest of processes. Typically, custodial exchanges ask investors to follow complex processes to finalize transactions and charge high fees; however, according to Changelly, this complexity that floods the market is perhaps what keeps discouraging investors from looking at crypto as a legitimate option.

This initiative is a great effort the company has been putting together so it can function legitimately and transparently. This new marketplace that Changelly is working on will gather the best crypto offers to come from creditable fiat providers, so it is possible to compare current rates and limits before buying. So far, the marketplace’s platform has added offers from Simplex, MoonPay, Indacoin, Coinify and Wyre, with plans to add many more.

“Changelly’s mission has always been to provide customers with the easiest and fastest way to buy and swap crypto. Two years ago, we became the first to introduce credit and debit cards to purchase crypto and, in so doing, paved the way for others to launch similar services. With the more fiat options becoming available, we felt it best for our customers to have a tool, which provides all the best rates from different fiat partners we work with,” said Changelly CEO, Eric Benz.