Belize-based exchange Bitsource.org has announced it will accept Mastercard, Visa and a host of other payment options beginning immediately.
The exchange, operated by DCE Group, is hoping that the significant increase in options will generate interest and open up the service to the mainstream.
“We've always felt that adding credit card and debit card processing was the missing link required to push Bitcoin into the mainstream,” DCE Group Managing Director Marc Santos said in a press release yesterday.
Convenience at a price?
Bitsource does not list a full variety of payment methods as it says that potentially any option can now be considered upon a customer’s request, such as Bank of America deposit and transfer, MoneyPak and Western Union, which would then be processed manually. “We've worked hard to make the process of buying and selling Bitcoin, Litecoin, and other crypto-currencies quick and easy for everyone,” Santos confirmed.
The website currently lists VISA, Mastercard, Maestro, OKPay, PerfectMoney, Yandex.Money, QIWI Wallet, EgoPay, Payeer, W1, Wire Transfer, SEPA and SWIFT transfer as the primary options available. However, fees vary when funding wallets with fiat on the exchange, notionally beginning at 0% but with the potential to reach a fairly hefty 7.49% per transaction depending on the method desired.
Nevertheless, Bitsource is seeking to create high standards, with up to 98% of funds kept in cold storage and bank vaults, and “also plans to expand into other alt-coins in the near future,” according to the company.
Certainly, with a plethora of payment options on the table, the exchange could prove a significant hit with users of various less well-known international varieties.
To see how Bitsource compares to some other exchanges on the market, take a look at Cointelegraph’s exchange review series covering not only usage fees but many more areas of operation which should help when choosing the most appropriate exchange for your needs.