Reportedly, a third of Korean adult population owns cryptocurrency, which explains the public uproar which followed the news of ICO regulation. South Korea benefits from its geographical proximity to China and as we see multibillion-dollar corporations funding exchanges, we understand that Malta’s ambitions to become a leading “cryptonation” are of the “in your dreams” category; Binance or not.
The LitePay startup, which ambitiously promised to introduce a debit card, wallet, etc., thus finally achieving a long-standing dream of integrating a currency into everyday payments and which fuelled the LiteCoin market price for days, has been denounced by Charlie Lee and ingloriously shut down. “I am sorry for having hyped up this company and vow to do better due diligence in the future.”, – Charlie Lee.
CoinBase is by far not the only exchange which allows its users to effortlessly buy Bitcoin with a credit or debit card. EXMO, an established exchange with only a few pairs, but impressive trade volume, proportionate to its size, as well as low fees. A partnership with Simplex, a payment processor, allows EXMO users to deposit EUR, USD and PLN straight to exchange using VISA and MasterCard.
“Simplex – is a payment processor providing the online payment handling, ensuring the integrity and security of the operations, and also contributing to fraud prevention within the financial sector.”