Crypto asset exchange company, Huobi Group, has announced this week that Huobi OTC will now accept deposits via Visa and Mastercard. The new funding option is made possible via a partnership with payment processor Simplex.
The new service will allow customers to use their debit and credit cards to purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) over Huobi’s peer-to-peer exchange.
Deposits through Simplex are capped at USD $20,000 daily and USD $50,000 monthly. Fees can vary but generally average around 3.5%. The minimum fee for transactions is USD $10.
“Bridging the divide between the fiat and crypto is still a big problem for the community and this is one of the ways we are looking to solve it. Partnering with Simplex will allow us to significantly minimize the obstacles our customers face – something we are always interested in.”
“Easy and fast credit card payments, for mainstream users, is a key factor in wider adoption of crypto in general. We’re thrilled to partner up with Huobi and together enable a much better, fast, and easy experience.”