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Bitcoin Marketplace with 300 Payment Methods Integrating into Large Crypto Exchange

A peer-to-peer marketplace offering more than 300 ways to buy Bitcoin is being integrated into a crypto trading platform with more than 600,000 users.

A peer-to-peer Bitcoin marketplace that offers more than 300 ways to buy Bitcoin has announced it is being integrated into BitMart, a global digital asset trading platform.

Paxful enables its users to purchase Bitcoin using bank transfers, debit cards, online wallets like PayPal and an array of gift cards — including well-known brands such as Amazon, iTunes, Google Play and Steam Wallet. Many of these payment methods enable consumers to access the cryptocurrency instantly.

The platform has now entered into a joint venture with BitMart, a digital asset trading platform with a global user base of more than 700,000 people, which says it is passionate about “joining the fast-growing peer-to-peer financial revolution.” As a result of the partnership, BitMart users will be able to make payments using Paxful’s technology without paying listing fees, while Paxful users will have the opportunity to convert their Bitcoin into other cryptocurrencies through the exchange.

“A pivotal time for the crypto community”

Both companies say they hope to increase liquidity and scalability through their partnership — with Paxful focused on reaching emerging markets and the estimated 2 billion people worldwide who are unbanked. This emphasis on accessibility has been complemented through a free Bitcoin wallet, guiding users through the process of sending, receiving and storing Bitcoin. 

Ray Youssef, the CEO and co-founder of Paxful, said: “We’re excited to integrate with BitMart in efforts to bring more trading options to emerging markets. It has always been our mission to provide financial freedom worldwide and we see this as the next big step in the financial revolution.”

Sheldon Xia, the founder and CEO of BitMart, believes the collaboration will help the company fulfill its mission of providing a “convenient and secure financial service in the crypto market.” He added: “By offering users with more payment options, BitMart aims to lower the barriers to entry for new adopters of digital currency investment. An integration with a revolutionary company such as Paxful allows us to bring digital asset trading to those who would otherwise not have had the access.”

Paxful is available here

Growing demand

As reported by Cointelegraph, Paxful has reported growing demand for its service in recent months. Despite Bitcoin prices tumbling by 80% compared with the dizzying highs of almost $20,000 seen in December 2017, the volume of transactions on its platform has increased substantially — rising by 130% in Africa alone to an average of 17,000 trades on a daily basis. Difficulties in obtaining bank accounts on the continent, when combined with the impact that hyperinflation and political instability have had on African currencies, may have been a factor in the burgeoning interest that cryptocurrencies have been experiencing.

The partnership could see Paxful’s profile grow considerably — as at the time of writing, BitMart was the 17th-biggest crypto exchange in terms of trade volume on CoinMarketCap.

BitMart currently hosts 233 trading pairs and claims to offer the lowest withdrawal fees when compared with other mainstream exchange platforms. It says its user base spans more than 180 countries, with a 24/7 customer service team ensuring that support is available for consumers in every time zone. Its platform is also available in a multitude of languages, including English, Chinese, Japanese, Vietnamese and Russian.

In describing what they hope the integration to achieve, both companies said they aim to provide “education, opportunities and allow the unbanked, underbanked and overbanked to participate in a growing peer-to-peer financial ecosystem.”

Learn more about Paxful

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Ethereum-based BitMart Token (BMX) Now Listed on CoinMarketCap

BitMart token (BMX) has been listed on CoinMarketCap (CMC) with price of $0.0542 USD as of writing. BitMart Exchange itself was listed on CMC in early June and currently has a daily trading volume of $22,630,975.23, earning it a top 50 ranking on CoinMarketCap.

What is BMX?

BMX, is an ERC-20 based token issued by BitMart Exchange with a total volume of 1,000,000,000 tokens. When users conduct transactions on BitMart, they will get a discount on the trading fee if they use BMX, no matter what tokens they trade.

Repurchase Mechanism

BMX also features a repurchase mechanism in which the BitMart team will take out 20% of the income earned from trading fees each month to repurchase BMX. All repurchased BMX will then be destroyed, with repurchase records released by BitMart immediately to ensure transparency. This mechanism will continue until only 500 million BMX are left. Since trading fees began June 20th, the first burn is scheduled to take place at the end of July.

About BitMart

BitMart is a premier digital asset trading platform with more than 449,000 users from over 160 countries. BitMart offers crypto-to-crypto trading for coins and utility tokens only. BitMart has a global team with extensive industry experience from all over the world including the United States, Russia, India, Singapore, Japan and Hong Kong. Since launching in March, BitMart has a total trading volume of over $549,000,000 USD. BitMart currently offers 53 trading pairs for BTC, ETH, USDT, XLM, EOS, VEN, NEO, OMG, ZRX, IOST, ABT, AE, AISI, BBK, BTM, DPST, EFX, GNT, HYDRO, KAN, MKR, ONT, RHOC, XRR, ZIL,  MOBI, and BMX.

BitMart currently offers a Refer-A-Friend Program, where users can invite friends to join using a referral link and receive a commission from their friends transaction fees. The commission rate is 50% of the transaction fees from direct referrals, and 10% from indirect referrals (i.e., people who sign up using the referral link of some who you referred). There is no limit to the number of people you can invite and you can start collecting referrals now. In addition, the commission from the referrals‘ transaction fees will be paid to users in BTC.

In addition to current promotions, BitMart will also soon be opening a new market for their utility token, BMX. Projects will be able to obtain investment from supporters in the form of BMX and use it to list their tokens on BitMart Exchange as a trading pair for BMX. All transaction fees from the BMX market will go directly to the users who supported the project. Once a project has proved successful on the BMX market, it will be reviewed for listing on BitMart’s BTC and ETH markets without a listing fee.

To learn more about BitMart visit their Website, Twitter or join their Telegram.