UK-based bitcoin exchange CEX.IO has announced the launch of instant US dollars, Euro and Russian Ruble withdrawals to payment cards, thereby completing the full circle of fiat money flows to and from Visa/MasterCard.
Users can deposit and withdraw funds in just a few clicks, once payment card is linked to their CEX.IO profile. As withdrawal requests are processed automatically, users are not required to log in to third party services. In most cases, withdrawals are processed instantly, enabling the card owners to use withdrawn funds on their Visa/MasterCard right away. However, CEX.IO said that individual cases might require some time, adding that it is negotiating with payment service providers to enable momentary processing for absolutely anyone.
“Global commonness of using payment cards effectively intersects with people’s will to buy and trade Bitcoins,” said Oleksandr Lutskevych, CEO and Co-Founder of CEX.IO. “We are proud to tell that there are currently no other exchanges offering instant withdrawals of fiat funds to Visa/MasterCard at low commissions, except for CEX.IO.”
Withdrawals to payment cards are beneficial due to high speed or payment processing and low commissions. Also, PCI DSS certificate obtained by CEX.IO ensures strong safety of provided payment card data. To make a withdrawal on CEX.IO, users need to:
- Go to their CEX.IO wallet and click “withdraw”
- Specify the amount to withdraw and the card to credit
- Confirm withdrawal with 2FA and start using withdrawn funds
“CEX.IO plans to continue expanding payment options and among other things will introduce Bitcoin debit cards enabling loading cards with Bitcoins directly”, CEX.IO said.
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