InstantBuy Offers New Revenue Stream
Bitcoin and the broader digital asset market provides many assurances, but access to them is one of their weakest. InstantBuy expands access to crypto by offering non-intrusive tools to website owners. InstantBuy offers a new revenue stream options for website owners.
Most users are funneled into a handful of centralized exchanges to quickly buy/sell BTC or other leading digital assets. However, these exchanges often require onerous KYC/AML processes and a bank account — two characteristics not widely available in many regions of the world.
Capital controls, like the current situation in Lebanon, also curtail access to cryptocurrencies via government mandate. The only other semi-popular option is P2P exchanges. Although they have thin order books and complex user-interfaces. That’s why boosting access to Bitcoin and other digital assets is one of the foremost initiatives by many in the industry.
If and when the bulk of mainstream users come, they need to have direct, fast, and cheap access to cryptocurrencies. And prominent Bitcoin OTC firm, IBIS Brokers’ latest InstantBuy feature is an intriguing step forward for opening up access to cryptocurrencies.
A History of Access
The crypto market’s endeavors to broaden access to the world of uncensorable digital assets range from the clever to the bizarre.
Located in a country with stringent capital controls like Venezuela? Use LocalBitcoins to tap BTC as an intermediate financial vehicle for accessing USD or crypto-dollars (e.g., stablecoins).
Want to send Bitcoin without using the Internet? Send your precious BTC over high-frequency radio waves using GoTenna and Samourai Wallet.
Only want to exchange BTC physically like cash? Use OpenDime Bitcoin credit sticks, which function as bearer bonds for fixed sizes of BTC.
While the above methods are expanding the bridge to tapping cryptocurrencies, they often focus on niche cases in specific demographics. More broadly, access to cryptocurrencies needs to be more intuitive on the web and provide new revenue streams.
The problem is that many people are uncomfortable with onerous KYC/AML processes or don’t like the high fees associated with exchanges like Coinbase. Many also can’t access exchanges simply via regulatory-induced IP addressed moats. Similarly, the incentive for offering fiat-to-crypto gateway services as compared to solely crypto-to-crypto trading is low. Costs and risks are both high.
But IBIS Brokers may have found a promising solution to widening access to fiat-to-crypto gateways on the web — InstantBuy.
InstantBuy and A Clever Incentive
IBIS Brokers, one of Europe’s largest Bitcoin OTC desks, built InstantBuy. They solve the double-edge problem facing more intuitive crypto-to-fiat access on the web — incentive and availability.
InstantBuy offers a new revenue stream by empowering users to purchase over 50 crypto assets with a credit/debit card on a website. In fact, it can be any website.
“InstantBuy was developed in a manner that allows website owners to embed the trading module in their site by pasting a few lines of code,” says Jan Sammut, Founder of IBIS Brokers. “This essentially allows every crypto-related site to ‘become Coinbase’ and earn a percentage of all sales executed on their site.”
From a website operator’s perspective, especially if they’re crypto or finance-oriented, InstantBuy is a win-win.
“Cryptocurrency site owners have been limited in their monetization options,” continues Sammut. “Their two options being selling invasive banner space, or thinly veiled promotional content. Neither of them provides their audience with real value. From your audience’s perspective, buying cryptocurrency the first time is a difficult and complicated endeavor, and large segments of the market remain locked out due to their bank’s policies.”
InstantBuy side steps the availability and problems around a lack of banking infrastructure (or favor) for cryptocurrencies. While concurrently supplying website operators with a new revenue stream. At a high level, it’s a trivial method for monetizing cryptocurrency-based traffic. Website operators share in the trading commissions by simply pasting a few lines into their website’s code. Users are offered a fiat-to-crypto gateway on sites they regularly visit with minimal fees.
Fiat-to-crypto gateways are the most important junctures that bridge the legacy fiat world to cryptocurrencies. As far as expanding access to crypto on the web goes, InstantBuy is promising. Not to mention, it comes from a leading OTC Bitcoin broker with a trusted reputation and experience helping institutional clients trade in massive sums.
In a similar light, Brave Browser and Binance teamed up to embed a fiat-to-crypto gateway into Brave’s privacy-oriented browser for its ballooning number of users. However, their model does not reward or incentivize website operators. It is a one-way access point to buying/selling crypto directly in the browser. It’s also currently only available in the Nightly (the testing browser) version of Brave.
What’s evident is that granting better access to cryptocurrencies is an initiative taken up by a thriving market of startups and institutions. With an uncertain financial and economic backdrop drawing from COVID-19’s fallout effects, better access to cryptocurrencies, with new revenue streams like InstantBuy, may become a necessity for citizens in regions like Lebanon and Argentina.
Better to have multiple redundancies if centralized exchanges can’t unlock the floodgates of crypto access to the rest of the world. Then, maybe, access to Bitcoin won’t be one of its weakest assurances.
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