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Uniswap to allow users to buy cryptocurrency with debit and credit cards

Uniswap to allow users to buy cryptocurrency with debit and credit cards

#Uniswap #users #buy #cryptocurrency #debit #credit #cards Welcome to InNewCL, here is the new story we have for you today:

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Decentralized exchange Uniswap has partnered with fintech company Moonpay to allow users to buy cryptocurrency on its web app using debit cards, credit cards, and bank transfers. The bank transfer option is being rolled out to users in most US states, Brazil, the United Kingdom and the Single European Payments Arena, also known as SEPA.

In the December 20 announcement, Uniswap shared that its users will now be able to convert fiat to cryptocurrency on the Ethereum mainnet, Polygon, Optimism, and Artibrum within minutes.

1/ Go straight to DeFi

Thanks to our partnership with , from today you can buy crypto on the Uniswap web app by credit/debit card or bank transfer at the best prices in web3 @moonpay! https://t.co/YVyk8e6d2h

— Uniswap Labs (@Uniswap) December 20, 2022

According to Uniswap, decentralized exchanges (DEX) are a much safer option than centralized exchanges (CEX) due to their built-in user protection, self-custodial wallets, permissionless immutable logs, and transparent public ledger.

Initially, Uniswap will support Dai (DAI), Ether (ETH), USD Coin (USDC), Tether (USDT), Wrapped Bitcoin (wBTC) and Wrapped Ether (wETH) depending on the user’s region.

The company shared that the decentralized finance (DeFi) onboarding experience has been a major hurdle for adoption as CEXs are seen as more convenient by users despite the risks involved. Uniswap hopes its recent rollout will improve the onboarding process with “no spread fees on USDC, the lowest processing fees on the market, and instant access.”

Related: Uniswap launches NFT marketplace aggregator

Uniswap’s announcement comes at a time when several centralized crypto platforms have collapsed, most recently FTX.

On Nov. 22, Cointelegraph reported that Uniswap received backlash from some members of the community for updating its privacy policy to include the collection and storage of user data, which many believe goes against core crypto values.

The privacy policy, updated on Nov. 17, revealed that the exchange will collect publicly available blockchain data, information about user devices such as browser information and operating systems, and information about users’ interactions with their service providers, among other things.

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