It’s always good to read some positive news regarding Bitcoin or other cryptocurrencies. Fans of the Bread Wallet for mobile devices have a new feature to explore. It is now possible to purchase Bitcoin directly with their credit card. All of the purchased money will be deposited into one’s Bread wallet right away. It’s a positive development, to say the least. It will be interesting to see how this service is affected by the recent crackdown on Bitcoin-related card purchases.
Mobile Bitcoin wallets are about much more than storing value. While that will remain a pressing goal, there are other features to take into account. Buying Bitcoin directly from one’s wallet certainly makes a lot of sense. It also introduces a fair degree of convenience, which is something everyone will approve of. Bread is one of the first wallets to offer this functionality successfully.
A big Move by the Bread Wallet Team
Using a credit card to buy Bitcoin is not straightforward either. Various banks actively block such transactions without recourse. Visa and Mastercard are not too happy with any cryptocurrency-related associations either. It is good to see Bread implement this functionality. Whether or not a lot of people will use it, is a different matter altogether. Especially given the current “ban” on cryptocurrency purchases, this is a very bold move by the wallet developers.
It seems this new feature is the direct result of customer feedback. More specifically, a lot of users have asked for such a convenient solution by the look of things. Getting verified on exchanges is time-consuming and clunk.y Moreover, users need to pay a high fee to move funds from the exchange to their Bread wallet again. Having an all-in-one solution makes a lot more sense for all parties involved. With this same-day delivery business model, the wallet introduces some positive changes altogether.
It is also worth noting users get to enjoy some rather high limits. It is possible to buy up to $20,000 worth of BTC per day. Do keep in mind the monthly limit is $50,000. Both of these limits are rather generous on the part of Bread wallet. This new service is provided with the help of Simplex, one of the team’s many partners. There is a verification process, but everything can be completed from within the wallet itself. An interesting approach that brings some much-needed positive attention to Bitcoin.
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