We are excited to announce the support of three new virtual currencies on our Buy and Sell platform and the overall rebranding of our trade service for private individuals.
Following our support of Ether (ETH) in 2018, Coinify’s individual Buy and Sell platform will now also support Bitcoin Cash (BCH), Stellar lumens (XLM), and Bitcoin SV (BSV). Users can purchase these currencies directly with bank transfers or credit cards.
To enter the virtual currency space, users have traditionally utilised bitcoin as a medium of exchange to access other virtual currencies. We are pleased to provide these users with a process that completely omits this step by providing them with a straight path to the currencies of their choice.
“We are continually developing our services to support access to virtual currencies while taking an agnostic stance on the ecosystem,” said co-founder and CEO of Coinify, Mark Højgaard. “The real differentiator of Coinify is that we are not only offering low-cost bank transfers for buying these currencies, but users also have the option of instant purchases using all major payment cards. There just aren’t that many platforms out there that offer users direct card purchases of other virtual currencies, apart from bitcoin.”
Along with the new currencies, we will be renaming our individual trading platform, formerly known as Buy and Sell, to myCoinify.
The rebranding comes as part of the extension of our payment offerings. We’ve opened up our Payment Product Suite for businesses and will now need a clear distinction between the payment products that are B2B focused, and myCoinify, which is a B2C service for private individuals.
“By providing a clear separation between the platform for individual users and our payment product collection, we can serve our users in the best way possible and resolve their needs more effectively,” said Pia Skafte Johansen, Head of Payment Solutions at Coinify.
The idea behind myCoinify is to empower the individual user with the financial freedom to own the virtual currencies of their choice. myCoinify will, thus, only focus on the end users by providing them with a simple and compliant platform to buy multiple virtual currencies. The service also lowers barriers to entry into the virtual currency space by being wallet agnostic and users can, therefore, store their virtual currencies the wallet of their choice.
The addition of these new coins are only the beginning of myCoinify’s offerings: we are planning to support a total of 15 different virtual currencies on the platform by the end of 2019. The provision of these new virtual currencies will also be available for Coinify’s wallet partners via our inWallet payment solution.