BestRate and Simplex Partner to Offer Buying Bitcoin with Low Fee Rates
BestRate Joins Forces With Simplex To Offer Bitcoin Buys At Low Rates
Known as an aggregator of crypto exchanges, BestRate has recently announced the news that it will be working alongside fraud-free payment processing provider, Simplex in an effort to reduce transaction fees. As per the Medium post detailing the new partnership, the goal not only rests in reducing fees, but also to increase their target market to “end users”.
According to BestRate, the biggest concern for end users is the fact that most of their partners have their own fees tied to the reselling of bitcoins (BTC). To put an end to the additional fees, BestRate affirms that investors can now buy BTC and 80 other altcoins without commission, ultimately set at a fee of just five percent.
In addition to the five percent, the duo has emphasized on convenience. In particular, investors are not required to sign up, has reduced verification times between five and 30 minutes for the Know-Your-Customer (KYC) procedure. Finally, the duo’s focus on security has been well-represented. Investors do not need to rely on third parties, as they will have control over their tokens directly in one’s wallet.
Are the fees truly low compared to other platforms? BestRate has compared Simplex’s partners, who are also in the industry of reselling cryptocurrencies with additional fees. Turns out, Changelly charges 10 percent, with Shapeshift and Buy.Bitcoin.com sitting at 7.5 percent, and Coingate offering 8 percent fees. Clearly, the duo’s fees are the lowest to date!
How To Buy Crypto Via BestRate And Simplex’s Efforts
- Create a wallet for crypto storage
- Visit BestRate.org
- Choose between USD or EUR as the currency with spending amounts limited between $50 to $1,000
- Select Simplex for FIAT to crypto exchange
- Enter crypto-address
- Enter personal information on Simplex payout popup
- Enter bank card details
- Undergo verification processes