Bitpay Partners With Simplex Payment Processor

Bitpay has announced a partnership with Simplex, a payment processing company. The partnership will allow customers to purchase cryptocurrencies from fiat directly in the Bitpay app. The somewhat laborious transfer from fiat to Bitcoin has always been an impediment to new crypto investors. Even 2 years ago, a potential investor would have to buy Bitcoin at Coinbase incurring a fee and then transfer Bitcoin to an exchange which often charged another fee. Small investors were discouraged from investing because of all of the fees.

The ability to buy crypto from fiat in the Bitpay wallet should encourage small investors who may not have considered investing in blockchain before. Bitpay now supports several cryptocurrencies including Bitcoin, BitcoinCash and Etheruem. XRP was also added just a few weeks ago.

I would love to see Steem become available on some of these apps. I think we would attract more investors by having an easy entryway into Steem.