Leading global cryptocurrency exchange KuCoin (KCS/USD) has launched KuCoin Fiat Account, which makes it possible for users all over the world to deposit US dollars (USD) to KuCoin using a credit or debit card, Invezz learned from a press release. They can also buy Bitcoin (BTC/USD) and other major cryptos.
Fiat to crypto conversion no longer an obstacle
The first and main obstacle newcomers to the crypto industry tend to encounter is the conversion of fiat to crypto. KuCoin launched the fiat account to supplement P2P Fiat Trade and other fiat-related services that already exist on the platform as well as Simplex, Banxa, and BTC Direct among currently available third-party fiat gateways. This will help create a safer, user-friendlier fiat channel with lower fees.
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Johnny LYU, CEO at KuCoin Global, said:
As the ‘People’s exchange’, KuCoin continues to improve the experience for all classes of crypto investors by introducing advanced products with less complexity and lower fees. The KuCoin Fiat Account will help get more intenders on board, contributing to the mass adoption of crypto ahead.
KuCoin to support 50+ fiat currencies in the near future
Visa or Mastercard holders can deposit USD directly to their fiat account with KuCoin before using Fast Buy to convert it into their crypto asset of choice. In the near future, KuCoin will support 50 more fiat currencies, such as EUR, AUD, GBP, and RUB.
KuCoin rewards users with 50% discount on purchase
To celebrate the launch, KuCoin will give the first 100 users who buy Tether (USDT/USD) via KuCoin Fiat Account using Visa, Mastercard, or Balance a 50% discount. This rewards campaign will be held daily from 18:00 on November 2, 2021 to 18:00 on November 5, 2021 (UTC).
A global exchange for hundreds of assets
KuCoin is a global cryptocurrency exchange for over 400 digital assets. It currently provides P2P fiat trading, Futures trading, Spot trading, Margin trading, Staking, and Lending to its 8 million users in 207 countries and regions around the world.
It’s currently the fifth biggest crypto exchange according to CoinMarketCap data after securing $20 million in Round A funding from IDG Capital and Matrix Partners in 2018.
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