Bread Wallet Accepts Credit Card Payments

Bread Wallet Accepts Credit Card Payments

Just a few days ago, banks started banning credit card holders from purchasing cryptocurrencies. While not every bank has taken that strict step, some have imposed brutal taxes on cryptocurrency purchases.

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Just a few days ago, banks started banning credit card holders from purchasing cryptocurrencies. While not every bank has taken that strict step, some have imposed brutal taxes on cryptocurrency purchases.

The good news is that the Swiss bitcoin wallet startup Bread announced that their new wallet app enables credit card payments. Bread had unveiled other exciting features as well – instant crypto deliveries and higher trading limits. For instance, Coinbase misses those two and many traders are looking for alternatives. Bread is tightly collaborating with Simplex and the real winners are the customers because they can now bypass exchanges.

Fintech startups are working towards the improvement and ease of cryptocurrency trade but at the same time, banks are making traders’ lives harder. JPMorgan Chase, Citigroup, Lloyd’s and Bank of America are all banning clients from using their credit cards for crypto payments or are imposing higher fees and taxes.

Cryptocurrency enthusiasts are already tired of exchanges’ requirements of verified profiles because verifying is a time-consuming process; daily limits that often restrict capable investors and bitcoin deliveries that can take up a whole week. All these pain-points are approached by Bread with the following solutions: same day delivery, daily limits of $20.000 and monthly of $50.000. On the top of that, verification happens only in the app, so users no longer have to switch between platforms or copy/paste addresses.

Furthermore, Bread wallet is far more secure than exchanges because users are responsible for the protection of their private keys. Third-party service provider? No, thanks, see what happened with Coincheck.

Bread wallet should not worry about fees, as well. The startup clarifies that fees are going to be measured in accordance with the account balance. We all know that the cryptomarket is highly volatile, so the number one priority of all of us is to immediately sell, buy or withdraw funds. Well, Bread is offering just that.

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