Nuvei to Buy Crypto Payments Company Simplex for $250 Million

Put simply, Simplex is making crypto accessible to all, turning the complex into the Simplex. Simplex is a licensed financial comapny that provides a solution for online fraud-free payment processing . Simplex enables merchants worldwide to accept diverse payment methods, including credit card deposits and purchases, with zero exposure to chargeback risk. The institution also operates a secure escrow service for large fiat-to-crypto transactions. Simplex’s AI technology analyzes every transaction using proprietary, machine-learning algorithms that eliminate fraud while increasing conversion. Founded in 2011, BitPay celebrates its 10th birthday this year as one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor. If you submit the right documents and fill out all of the required fields of information, you should encounter no issues while purchasing the cryptocurrency of your choice. Now, you’re going to have to fill out all of the transactional information – how much cryptocurrency you’d like to purchase, your public wallet address, and so on. Rather than not, they both provide amazing services to their users. We hope that the above article helped you a lot to know more about MoonPay vs Simplex.

Innovative solutions ensuring 100% fraudless transactions for you and your users, so you can focus on your expertise

Any user who holds more than one account, along with non-unique IP addresses or UIDs will be disqualified immediately. Lending & Single-Asset Vault Provide Single-Asset liquidity to earn income. You will also need to upload your identity document for verification purposes. The company is growing and recently Nuvei acquired simplex so there are some changes but also a lot of opportunities. Verify your identity, personalize the content you receive, or create and administer your account.
With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses are usually just thrown under the umbrella term – exchange. Due to the way that Simplex works, it provides instant payment processing – in most cases. The company states that some payments might, in fact, take between 48 and 72 hours to process. However, these are outlier situations – the only occur when there’s some stalling happening due to verification checks or similar issues.

The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. MoonPay is a financial technology company that builds payments infrastructure for crypto. MoonPay is active in more than 160 countries and is trusted by 300+ leading wallets, websites, and applications to accept payments and defeat fraud. The company is based in Miami, Florida, and was founded in 2019. We would like to highlight that Simplex is a payment processor for fiat to cryptocurrency purchases.

Nuvei and XT COM Team Up to Enhance the Onboarding of New Users

The transactions are very fast , and you can be sure that the security of your crypto assets and fiat money is going to be kept in-tact. First of all, the obvious – it allows many more people to have a smooth and easy gateway into the cryptocurrency market, and thus, by extension, into the world of cryptocurrencies, in general. The main advantage of MoonPay is that it is available in more than 180+ countries and supports more than 80 currencies, while Simplex allows you to buy currencies through credit or debit card. However, it is important to take care of your security as a crypto investor. Initially, you can verify your wallet address before buying crypto so you can face less annoyance. If you suspect that there is a problem with MoonPay during payments, please contact MoonPay support immediately. First, you would choose a cryptocurrency to buy from one of Simplex’s partner exchanges and then pay by credit or Debit card. Nuvei has completed its takeover of Simplex, incorporating the firm’s AI-driven proprietary fraud and risk management tools and enhancing its own cryptocurrency transactional capabilities.

Users can then trade between more than 150 different tokens and coins on Binance.com. Moreover, the Simplex crew is working hard to make crypto adoption a reality. For this reason, they regularly add extra currencies on top of the 50 fiat currencies they have now. Abra is expanding its crypto marketplace to dozens more countries through partnerships with four fiat-to-crypto gateways. We provide support to not only the finance industry, but also logistics, medical, insurance, and real estate industries, interested in introducing blockchain as a means to improve operational efficiency and reduce costs. We provide a wide range of support for NFT trading, which have been attracting significant interest lately, from the early stage business consulting to development, implementation, operation and maintenance. We provide business consulting to select an ideal digital platform for STO that can integrate well with other external securities systems. We assist our clients create new business with our expertise in blockchain learnt through financial industry. Companies and startups in this collection enable consumers, businesses, and governments to pay each other – online and at the physical point-of-sale. Companies and startups in this collection leverage blockchain technology for crypto trading, decentralized finance , NFTs, and more.

Protection and security

Both cryptocurrency wallets have their features to feed on, and they are both amazing. Sometimes, to comply, they may ask you to provide them with additional documentation to help them verify your card payment. Simplex is a licensed financial institution with the highest legal and ethical standards and is dedicated to operating safely. It is approved by the central bank due to strict standards with the regulations of the jurisdictions. Their processing fee is 4.5% with min. €3.99/£3.99/$3.99 or currency equivalent when using card or 1% min. €3.99/£3.99/$3.99 or currency equivalent when making a bank transfer.

The industry’s top wizards and experts provide their best advice, research, how-tos, and insights – all to help you level-up your Crypto futures trading skills. Thank you for your continued support and we assure you our best services at all times. Learn how, with Onfido, MyCash boosted automation of customer approvals end-to-end and reduced the time it takes to verify and onboard new customers. Read more about stk reddit here. Learn how, with Onfido, Moneyfarm dramatically reduced the amount of time it takes to verify customer identities, saving their Operations team hours in manual reviews.

This means that they simply do not accept fiat money – you’d have to purchase your fiat currency somewhere else, and then come back to the platform in order to buy another cryptocurrency of your choice. Yes, the Simplex payment method is secure with 100% guaranteed fraud-free transactions on online platforms for its users, which is approved by a central bank. As both have amazing features and services, cryptocurrency brokerage users are happily satisfied with them. As MoonPay offers more than 80 currencies, while Simplex allows it to buy in 33 currencies. Simplex’s cutting-edge fraud prevention solution and proprietary state-of-the-art AI technology blocks fraudulent users and facilitates legitimate payments, increasing conversion rates and enabling merchants to focus on their growth. For power crypto users, the BitPay Wallet app is a secure, non-custodial open-source wallet app that includes a full featured non-bank financial services solution. Multi-factor security leverages private key encryption, PINs, and biometric authentication for enhanced security. Simplex has created Innovative solutions which guarantee 100% fraud less transactions for users and online platforms.

Now, traders will be able to purchase cryptocurrency via the Simplex service. Simplex are building the fiat-to-crypto infrastructure for the entire world. Through their payment processing and crypto banking infrastructure, they’re making cryptocurrency accessible to all. Nuvei’s proprietary platform offers direct connections to all major payment card schemes in over 200 markets worldwide, supports 455 local and alternative payment methods, nearly 150 currencies, and 40 cryptocurrencies. The firm acts as a fiat-cryptocurrency gateway connecting market participants including exchanges, brokers, wallets and liquidity providers. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

BitDCE cooperate with Simplex officially to start cryptocurrency global payment

The integration of Simplex solutions for bank card processing allows traders and cryptocurrency exchanges to perform familiar e-commerce transactions with the maximum level of protection. Simplex will assist with COTI’s efforts of offering a holistic solution that empowers enterprises to build their own payment networks by providing users with a simple way to convert fiat to crypto. Through this integration, users will be able to purchase crypto using credit cards through a secure checkout page. Simplex is an EU-licensed financial institution and Tier 1 service provider providing a complete fiat infrastructure to the crypto industry. Simplex processes every crypto transaction payment with a 100% guarantee – in the event of a fraudulent chargeback, merchants will be compensated through Simplex.

Coincloud/Simplex BTC have for years have been fast and dependable. I would hope in the future for cheaper rates based on volume of use age however. This is one of the useless as far as I know this company is fake and asked me to deposit £300 and said to be I will earn extra money on Bitcoin in fact my £300 is gone. I have already informed to bank and fraud departments and waiting to report to fraud police department. The people who were chatting with me on Instagram are part of this. BitDCE has partnered with crypto payments firm Simplex to form a combined ecosystem of “Global Easy + Global Payment + Global Purchase”. COTI’s 30+ people team is built from highly experienced individuals, who previously held positions at IBM , Ripple , Blackrock , Investec bank , as well as cryptographers from Israeli elite army intelligence units.
All US residents, both those experienced with crypto or a newbie, can take advantage of this competitive pricing making the BitPay Wallet App the most affordable way to buy crypto. The BitPay Wallet App makes it easy to send and receive crypto, buy crypto from within the app, check the price of crypto and securely store funds. “The crypto industry is still in its early stages and most of the world’s money is still in fiat. Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users,” said CZ. Based on our extensive track records and experience in blockchain technology built in the financial industry, Simplex can provide optimal blockchain services in a wide range of industries and sectors.

• BitDCE exchange is a comprehensive trading platform covering digital currency spot, contract, legal currency, and cryptocurrency derivatives and other products.
• I will now transfer this issue to our fraud analyst team, which will ask you additional questions in order to understand your situation better, as well as provide you with further support.
• Simplex processes credit card payments with a 100% guarantee; in case of a fraud chargeback, the merchant gets paid by Simplex.
• While these fees might not be the smallest around, they are still justified by the fact that you not only receive the chance to purchase cryptocurrencies with a credit card, but are also receiving super-secure and fast transactions.
• Well, what if the exchange does not house the crypto that you want?

COTI provides functionality as robust as Paypal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. COTI’s platform enables companies to effortlessly create advanced fintech products ranging from payment networks to stable coins, loyalty programs and more. We provide secured and user-friendly wallet system, featuring not only high level of security specification required for crypto asset brokers but also constructing support team. Our track records of development and operation and maintenance in crypto asset trading system, especially high level of security that users can use with confidence, has been well-recognized by our clients. Ramp is a Polish cryptocurrency API company that wants to make using cryptocurrencies as easy as shopping online. It describes itself as a crypto on-ramp specialist and aims to allow users to buy crypto without leaving their dApp or wallet. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you with that other person .
Our main activity scope is secure payment processing and fraud prevention. Also, I would like to add that we do not ask for more money nor we communicate to our users via Instagram, the only method we reach out to our customers is via our official support email Simplex is an EU-licensed financial institution that enables users to buy crypto from exchanges using their credit cards in a fraud-free environment. Simplex processes credit card payments with a 100% guarantee; in case of a fraud chargeback, the merchant gets paid by Simplex. Simplex’s cutting-edge fraud prevention solution and AI technology blocks fraudulent users and allows legitimate users to complete payments with ease. This increases conversion rates and enables merchants to focus on their business growth.

You may tap on the Return to BTCC button to go back to our app while you wait for the funds to arrive in your account. I saw that there are a bunch of customer service positions open and I don’t know if it’s somewhere that would fairly easy for someone with just 1 year of experience. I need to change where I’m at, but not sure how big of a company is really gonna hire me when I’m so new to things. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Provide specific products and services to you, such as portfolio management or data aggregation. Have you been itching to buy some additional crypto to add to your bags?

Israeli company Simplex, which provides fiat infrastructure for the cryptocurrency ecosystem, is in advanced negotiations to be acquired by Canadian payment processing giant Nuvei for between $200-$250 million, Calcalist has learned. In 2020, the firm teamed up with HedgeTrade, a crypto social trading platform, to integrate and add HEDG cryptocurrency to its credit card processing solutions. Simplex is a licensed financial institution offering the widest range of payment methods and fraud-free cryptocurrency purchases. Pioneering new methods for accessibility https://www.beaxy.com/exchange/btc-usd/ and innovations to its partner network, Simplex is a team obsessed with crypto adoption. Simplex is a free way to buy the desired cryptocurrencies at a reasonable cost. It is very safe, you can pay with your credit card and the payment processing is also very fast. Simplex, a Nuvei company, is a B2B2C fintech company leading the mainstream adoption of crypto by offering a variety of fiat/crypto on and off-ramp solutions. Our network of over 250 partners spans the entire crypto ecosystem including all the leading exchanges, wallets and information sites.

We’re super excited to announce the Simplex 0 Fee Deposit event, which allows you to buy crypto through Simplex without paying any processing fees. “Today is a very special day for all of the Simplex team, as well as the entire cryptocurrency community,” said Nimrod Lehavi, Simplex’s Co-founder and CEO. “By joining Nuvei, Simplex will be able to fulfill its promise of bridging the gap between the blockchain space and the traditional finance world. We couldn’t have thought of a better partner for us, and we are excited for what the future holds.” Fiat-to-crypto on-ramp Simplex will be able to offer their services to a broader market. Simplex also provides a KYC opt-out feature for purchases less than USD $150. If the blockchain transfer is complete, you will view the assets you purchased in the Exchange Account. Learn how, with Onfido and Iquality, LeasePlan Bank have automated 50% of their internal identity verification processes.

Additionally, users enjoy a ‘one and done’ policy when it comes to document submission and user validation , ensuring a fast and efficient checkout process. In the recent soft launch of the product, millions of euros were deposited to buy and sell crypto assets. The transaction limit is set at $20,000 while users can use their PC, IOS and Android devices to make payments in legal currencies of over 97 countries. Israel-based global fiat payment processor Simplex announced Tuesday it has become a principal member of the Visa network. With our experience and track records in supporting blockchain services to our institutional clients in highly competitive financial markets, we provide superb quality engineering services.

Learn how, with Onfido, BUX are verifying 90% of customers in under three minutes and automating 70% of customer verifications end-to-end. Could you please kindly send me an email directly at , and specify the payment ID of the transaction in question? Have being using Simplex for a while to fund my crypt o wallet and every time they have come through within a couple of minutes. I will now transfer this issue to our fraud analyst team, which will ask you additional questions in order to understand your situation better, as well as provide you with further support. Got what I needed back from simplex and that was my exact amount de posited to the acc ount with the help of ericscholes atρrotonmαïl. YieldPlanet is a premium software provider focused on hotel distribution and channel management. It delivers powerful solutions to meet and surpass the challenges of distribution and revenue management.