MyEtherWallet Partners Up with Simplex to Simplify Crypto Buying Process
MyEtherWallet (MEW) has recently revealed its partnership with Simplex, a fintech company that specializes in fraudless payment processes. The announcement was voiced through Twitter in which MEW shared the partnership, along with a potential instant way of getting to one’s cryptocurrency holdings.
The tweet reads as follows:
Howdy MEWfam! 😎
We thought that we’d make using MEW easier for you, so we’ve partnered up with @SimplexCC, which allows you to directly buy ETH without having to go to an Exchange! Once you’re verified, your ETH will show up in your MEW wallet! 👍https://t.co/RlNOPR7LgH
— MyEtherWallet | MEW (@myetherwallet) July 19, 2018
MEW shared an elaborate post on Medium indicating how the partnership will benefit fellow MEW supporters. It seems to be as simple as owning a credit card, and the mindset to purchase cryptocurrencies. Whether this implies to new or existing users is unclear.
However, MEW specifically addressed existing users, by stating that they will be “simplifying the entire cryptocurrency-buying process, while making it instant and secure.” Users also have the option of ignoring the step of signing into crypto exchanges.
How might this be possible? All of this was made possible due to the integration of Simplex’s “fraud fighting technology” on the MyEtherWallet platform, which allegedly made it possible to “easily open the door” to anyone wishing to purchase cryptocurrencies with traditional credit cards.
According to the MEW team, users will have to undergo a one-time Know Your Customer (KYC) process, which will validate the identity of each user to ensure that he or she is not part of any illegal activities. Upon completing the verification processes, users will immediately find their purchases accumulating in their respective wallets.
In order to get started, users are advised to set up a MyEtherWallet, prior to making any given purchase. To find out more, check out: https://www.myetherwallet.com/#swap