Plenty of mainstream consumers struggle with the concept of buying bitcoin. Signing up for an exchange account and using a bank transfer seems clunky. Using a credit or debit card is a quicker option, yet those payments are subject to fraud and chargebacks. BitOasis, one of the few exchanges accepting credit cards, expands this functionality to five additional countries.
It is quite interesting to see bitcoin exchanges embrace credit card payments. Even though the risks of fraud and chargebacks are very real, BitOasis feels it is the right way forward. After all, buying bitcoin should be more convenient, rather than cumbersome. Unfortunately, most other exchanges make buying bitcoin a very tedious and timeconsuming process. Reaching a mainstream audience requires convenient solutions, that much is certain.
BitOasis Accommodates Growing Demand for Bitcoin
BitOasis acknowledges the growing demand for credit card-based bitcoin buying solutions. As a result, the company expanded their functionality to five additional countries. This allows residents in the Middle East to conveniently purchase cryptocurrency. This functionality was already available in the UAE, yet has now expanded to Kuwait, Saudi Arabia, Qatar, Oman, and Bahrain. None of those countries have been “big” on bitcoin, yet that situation may change sooner rather than later.
As one would expect, the instant buy feature will be somewhat limited. Users in the aforementioned countries can purchase up to US$550 worth of bitcoin with their credit card. BitOasis expects to raise these limits once the service has been given time to establish itself on the market. For the time being, no official ETA has been provided as to when these limits may be raised, though.
It appears there is a growing demand for bitcoin in these five particular regions. It is believed BitOasis will continue to expand to even more countries in the future. Bringing the service to five countries at once is a big move for the company. It will be interesting to see how this move plays out in the long run, though. The Middle East can become a big cryptocurrency hub moving forward, especially now that buying bitcoin has become more convenient.
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