- KuCoin announces the launch of its KuCoin Fiat Account.
- Users on the platform can directly deposit USD onto the exchange.
- They can do so with debit and credit cards.
The global leading cryptocurrency exchange — KuCoin, just launched the KuCoin Fiat Account. This feature grants users across the globe access to make USD deposits to KuCoin directly via debit and credit cards. With this, users can begin making crypto purchases for major crypto assets like Bitcoin (BTC), Ethereum (ETH), USDT, and more.
As the crypto industry expands rapidly to meet the growing global demand, there are many challenges they must face. For instance, one of the first hurdles to conquer is providing these users with the option to convert their fiat to crypto.
Following this, they must build a fiat channel that is user-friendly, safe, and offer low transaction fees. Thus, the Fiat Account feature making its debut to KuCoin will supplement the existing fiat-related offerings such as P2P fiat trade. More so, it will also supplement third-party fiat getaways such as Banxa, BTC Direct, and Simplex.
The CEO of KuCoin Global — Johnny LYU, shares his thoughts on the matter,
As the ‘People’s exchange’, KuCoin continues to improve the experience for all classes of crypto investors by introducing advanced products with less complexity and lower fees. The KuCoin Fiat Account will help get more intenders on board, contributing to the mass adoption of crypto ahead.
To highlight, the KuCoin Fiat Account will first support USD. Therefore, Mastercard or Visa holders can proceed in depositing their USD directly to KuCoin before converting the funds to any supported crypto assets via Fast Buy. Soon, KuCoin aims to support 50 more fiat currencies. Specifically, these will include AUD, EUR, RUB, and GBP.
Lastly, in celebration of the launch, KuCoin will hold a campaign to reward its users. This will take place every day from 18:00 on November 2, 2021, to 18:00 on November 5, 2021 (UTC). During this time, the first 100 users to buy USDT via KuCoin Fiat Account using Mastercard, Visa, or Balance will receive a 50% discount on their purchase.