Simplex has just announced that it will integrate DOT into its list of supported cryptocurrencies that are available through its network of partners across the globe. Millions of customers will now be able to purchase DOT with credit cards or other means of payment.
Simplex is a licensed institution in the EU and a principal member of the Visa network. As an addition to the Simplex partner network of exchanges, brokers and wallets, DOT will now be able to be easily acquired through the normal payment systems that include credit and debit cards, Apple Pay or via a bank transfer.
Cryptocurrencies are still not mainstream, and for the vast majority of potential investors there are still quite large barriers to entry, especially for the uninitiated to the crypto world of exchanges, wallets and other financial instruments.
Simplex is in the business of simplifying a complex system down so that the ordinary person who knows nothing about crypto can buy a wide variety of cryptocurrencies through payment systems they are already familiar with.
The Simplex fiat on/off ramps, provided by a large network of partners, enable a customer to use any of literally hundreds of fiat currencies with which to buy an ever-expanding list of cryptocurrencies.
DOT is the latest addition to more than 50 available cryptocurrencies, making it easily accessible to a mass market of individuals, many of whom probably still haven’t made their first cryptocurrency acquisition. With Bitcoin and cryptocurrencies starting to make bigger public waves around the world, awareness is going to grow and those first buys are going to accelerate.
Polkadot is one of the foremost blockchain ecosystems in crypto today and ranks in 6th place in the Crypto market cap, just below Ethereum and Cardano. Its system of sharded parachains doesn’t seek to supplant the likes of Ethereum, but to interoperate by enabling any type of data or assets to be transferred cross-blockchain.
Polkadot and its native DOT token have gained massively in popularity over recent months, as much among developers as investors. The integration with Simplex could well bolster this popularity and price as crypto continues its upward trajectory.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.