Visa and Mastercard payments now enabled for instant deposits on Bitget platform
In a move to increase the functionality of digital assets for everyday global transactions, Bitget, a leading cryptocurrency exchange and Web3 company, has released a conversion payout feature. This innovative feature allows users to instantly convert their crypto assets into fiat and deposit funds directly to Visa or Mastercard accounts.
Simplifying Crypto Usage
Gracy Chen, CEO at Bitget, emphasizes the importance of simplifying crypto usage to match traditional money. The strategy aims to remove barriers between digital assets and real-world use, allowing users to manage, convert, and spend crypto with the same ease as any fiat account.
Key Benefits
- Instant Conversion: Users can instantly convert cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) into fiat currencies, bypassing the delay typically associated with traditional bank transfers or peer-to-peer transactions.
- Wide Currency Support: The feature supports over 140 fiat currencies, catering to a global user base and enabling users to access their funds in their preferred currency, regardless of their location.
- Real-Time Deposits: The direct deposit to cards reduces settlement times and operational friction, providing users with immediate access to their converted funds.
- Enhanced Security and Reliability: By removing third-party risks commonly found in P2P channels, Bitget enhances transaction speed, reliability, and success rates, ensuring a more secure and efficient off-ramp process for users.
A Streamlined Off-ramp Process
The Visa and Mastercard payout feature is a part of a broader strategy to enhance fiat accessibility within the Bitget ecosystem. Recent updates to Bitget's ecosystem have expanded on-ramp and off-ramp options with faster processing, increased currency support, and local payment integrations.
Users can access the service directly from Bitget's "Buy & Sell Crypto" page by selecting the 'Sell Crypto' option. This allows users to receive fiat instantly without the usual waiting period or bottlenecks tied to banking networks.
In conclusion, Bitget's Visa and Mastercard payout feature simplifies the process of off-ramping cryptocurrencies into fiat by providing a fast, secure, and convenient method for users to convert their digital assets into traditional currencies, making cryptocurrencies more functional and accessible in everyday transactions.
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