Uniswap (UNI), a decentralized finance (DeFi) platform, has announced that users may now acquire cryptocurrencies on its web app using credit cards, debit cards, and bank transfers.
Support for the new payment methods is being rolled out by the major decentralised cryptocurrency exchange (DEX) in collaboration with MoonPay, a fintech startup that develops payment infrastructure for cryptocurrencies.
Uniswap’s initial partner, MoonPay, allows users in 160+ countries to make online purchases of cryptocurrency using a variety of different payment methods, including credit/debit cards, bank transfers, and more.
Payment methods may be limited or unavailable in your area. For example, users in the United States, Brazil, the European Union’s Single Euro Payments Area (SEPA), and the United Kingdom are the only ones who may send and receive bank transfers.
According to the DEX’s announcement, it will initially offer the following cryptocurrencies: Ethereum (ETH), Dai (DAI), USD Coin (USDC), Tether (USDT), Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH), however, this may vary according on the user’s location. People in the United States are unable to buy either wETH or wBTC.
Self-custody is the safest choice for crypto investors, according to Uniswap, as centralised exchanges come under heightened scrutiny after charges that defunct crypto giant FTX misused user assets.
Despite the concerns, “the onboarding process has been a key barrier to DeFi adoption, driving users to keep their assets on CEXs for convenience.”
The website promotes itself as an easy way to practise self-custody. All of our users, and those who come after them, should be able to acquire cryptocurrency with confidence and without the need for trusted third parties.
To purchase cryptocurrency using fiat currency, just link your wallet to the Uniswap Web App. This is a significant development in the movement to make DeFi and self-custody available to a wider audience.
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