In a press release, the European Bitcoin exchange CoinMate announces that the company has entered into a new partnership with payment provider MoneyPolo wherein the two companies have agreed to enable users from over 100 countries to exchange cash for Bitcoin and back. This is expected to take CoinMate to the next league of the companies with wide user base.
The company believes that once the two companies are able to provide the services to the users who wish to buy Bitcoin with cash, a lot of their issues will be solved to great extent. However, the company informs that the customers need to open a MoneyPolo account as well as a CoinMate account for the purpose.
Opening the account with the two companies, customers can fund their MoneyPolo account with cash at one of the company’s partners with brick-and-mortar locations in over 100 countries. The company informs that once the MoneyPolo account is funded, the money can be transferred to CoinMate for free, where it can be used to buy Bitcoin.
Nonetheless, the users who want to sell Bitcoin for cash simply transfer the fiat to their MoneyPolo account and pick it up at a local partner. Talking about the entire development, CEO of CoinMate parent company Confirmo, Roman Valihrach, said that the partnership will provide ample opportunities for the Bitcoin users to sell and buy Bitcoin.
CoinMate is giving away €20 worth of Bitcoin to the first user per country
He admitted that most Bitcoin markets work with bank deposits and bank withdrawals, however it is estimated that 40% of the world’s adult population has no bank account and an even greater share is limited to local transfers. However, MoneyPolo account allows cost effective cash deposits and cash withdrawals in more than 100 countries of the world.
The partnership networks of MoneyPolo are not just available around the world but also provide reliable services and that is a major reason that CoinMate decided to integrate. Nonetheless, the London-based Bitcoin exchange changed its standard currency from the U.S. dollar to the euro and allows for deposits in Czech koruna and Polish zloty.
Nonetheless, to celebrate its partnership with MoneyPolo, CoinMate is giving away €20 worth of Bitcoin to the first user per country to deposit or withdraw cash. Additionally, CoinMate and MoneyPolo are the latest in a series of services for buying cryptocurrency with cash and get into the Bitcoin ecosystem with ease and speed.
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