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BitFlyer Europe users can now buy crypto with credit cards

Yogita Khatri

Cryptocurrency exchange BitFlyer, recognized as one of the 10 exchanges with “real” trading volumes by asset management firm Bitwise, has just made it easier for users to buy cryptocurrencies.

The exchange’s European unit announced Thursday that it has added an “Instant Buy” facility on its platform, allowing users to purchase cryptocurrencies using credit cards, debit cards and local instant transfer methods such as Sofort, iDeal and GiroPay.

“By making it similar to that of a traditional e-commerce experience, we are helping bringing cryptocurrency to a mainstream audience,” said Andy Bryant, co-head and COO of BitFlyer Europe.

The payment processing partner of BitFlyer Europe to offer the Instant Buy facility is Germany-based Wirecard, Bryant told The Block, adding that the transaction fees for processing credit card payments are 1.95% + €0.25 per transaction and 1.95% + €0.30 per transaction for other payment methods.

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In October, the exchange also launched its mobile apps, and currently offers trading in seven cryptocurrencies - bitcoin (BTC), ether (ETH), litecoin (LTC), bitcoin cash (BCH), ether classic (ETC), monacoin (MONA) and lisk (LSK).

BitFlyer is headquartered in Japan and also has a unit in the U.S. Just last week, the exchange added trading support for XRP cryptocurrency on its Japanese platform - the move marked the first cryptocurrency added to its platform in almost two years.

This story has been updated to include comments from Andy Bryant, co-head and COO of BitFlyer Europe.