Coinify Adds BCH and Rebrands Its Trading Platform

Coinify, the Copenhagen-based cryptocurrency exchange and payments provider, has announced the introduction of three new virtual currencies to its buy and sell platform. Users can now purchase bitcoin cash (BCH) plus altcoins XLM and BSV directly with bank transfer or credit card.

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Coinify Users Can Now Use Credit Cards to Buy BCH

In a statement released to news.Bitcoin.com on Feb. 11, Coinify co-founder and chief executive officer Mark Højgaard said the newly added coins, which start trading tomorrow, were part of plans to support a total of 15 digital assets on the exchange by the end of this year. Ethereum was added to the platform late last year.

The development, which means that users can buy BCH, XLM, or BSV without having to first purchase BTC, also dovetails with Coinify’s ambitions towards improving crypto-based payments.

The exchange has a keen interest on assets that demonstrate tangible viability as a payment method as well as those “with a strong community to support the coin’s use.” Bitcoin cash provides for one of the most efficient, fastest and cheapest payment options in the financial world, with average fees of half a cent for any amount transferred.

Højgaard added that the three newly listed cryptocurrencies were aligned to the company’s internal compliance standards as well as to international regulation, stating:

We are continually developing our services to support access to virtual currencies while taking an agnostic stance on the ecosystem. The real differentiator of Coinify is that we are not only offering low-cost bank transfers for buying these currencies, but users also have the option of instant purchases using all major payment cards. There just aren’t that many platforms out there that offer users direct card purchases of other virtual currencies, apart from [BTC].

Exchange Rebrands Buy and Sell Platform to Mycoinify

Meanwhile, the company has rebranded its individual trading platform to “Mycoinify” from “Buy and Sell” previously. The rebranding comes as part of Coinify’s extension of its payment offerings, which seek to distinguish between its payments product suite for businesses, and Mycoinify, which is a B2C service for private individuals.

Mycoinify will continue to focus on end users by providing them with a “simple and compliant platform” to buy multiple virtual currencies, said Pia Skafte Johansen, head of payment solutions at Coinify. The service also lowers barriers to entry into the virtual currency space by being “wallet agnostic and users can, therefore, store their virtual currencies in the wallet of their choice,” noted Johansen.

Coinify, which is backed by Nordic Eye Venture Capital, Seed Capital Denmark, and SEB Venture, offers two-way virtual currency conversion services for businesses and individuals.

What do you think about Coinify’s expanded virtual currency offering? Let us know in the comments section below.

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