Decentralized cryptocurrency exchange (DEX) Kyber Network has announced support for a new fiat-to-crypto gateway that will allow users to directly purchase Ethereum’s ether.
Fiat to Ether DEX Support
According to the announcement, Kyber Network has become the first DEX to support the direct purchasing of ether using fiat. The release claims that clients can use either debit or credit cards in the purchase of ETH, in addition to instituting a low minimum purchase of 15 EUR per transaction.
— KyberSwap (@KyberSwap) September 13, 2019
Support for the new feature comes after KyberSwap’s recent partnership with Coindirect.com, a third-party service backed by MakerDAO which allows for the purchase of crypto via fiat. Kyber Network says they were prompted to implement crypto for fiat purchases as a way for new users to have easier access to ether,
“Everyone needs to first buy Ether (ETH) from somewhere, whether to trade or to use DeFi (decentralized finance) applications…Generally the first step is the hardest, but it’s even harder when it comes to buying cryptocurrency.”
The new gateway will be available through the DEX’s official website in addition to the iOS and Android mobile applications.
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