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Analysis News

Ethereum (ETH) took off thanks to Visa and MasterCard

Rumors that ETH became the second digital defensive asset, “digital silver,” have been exaggerated a little bit. The rise of ETH is associated with the launch of KyberSwap – another one, but really convenient gateway from the fiat world to crypto built on the Ethereum blockchain.

KyberSwap was created by the authors of the KyberNetwork (KNC) platform in cooperation with Coindirect service (Hong Kong) and MakerDAO, a decentralized stablecoin. KyberNetwork (KNC), 98th place in the CoinMarketCap ranking, is a platform for the exchange of any cryptocurrencies. The meaning of the KyberSwap project is to provide even the newcomers with the opportunity to buy small amounts of cryptocurrency directly with Visa and MasterCard credit or debit cards. They do not have to bother about KYC. And do not have to pay a huge commission. The commission of the service is 3.5%, for the fiat-crypto gateway it is a bit.

KyberSwap supports trading tokens compatible with ETH and the ERC20 standard. The creators promise a simple interface, applications for iOS and Andriod, and most importantly – it is non-custodial. The authors declare that their service is a kind of brief instruction and trial for those who want to enter crypto, at first providing only the card data:

– Imagine a curious user who wants to try DApps on Ethereum, and would like to start by buying a small amount. There aren’t many fast and convenient ways to do so … Once the user is comfortable with crypto purchases and wants to increase his trade limit and get even lower fees, he has the option to furnish more personal details.

On the news of the launch of the new gateway, Ether (ETH) rised by more than 10%.

The KyberNetwork (KNC) token has also risen by almost 15%. True, not for long:

The most balanced market experts constantly repeat: “Do not expect speculative ups at the current, more mature, crypto market!” The market is now rising gradually and moving forward in small steps. It’s good that the alts do not give up and are also growing, and their adaptation is expanding.

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