Bitspark is a bankless money transfer company that helps you convert cash to cryptocurrency, globally.
With a market cap of over 138 billion and more than half the market share, bitcoin is and remains the mother of crypto. Irrespective of its enduring volatility, characterised by thrilling gains and dramatic plunges, it remains the major coin to trade against and continues to interest investors willing to commit to the long haul. Likewise, Ethereum is generally regarded as one of the major pillars of crypto.
While Bitshares is by no means third in line, with a relatively small market cap, it is nonetheless a vitally important coin to keep track of. In fact, in terms of operational performance as calculated on the blockchain activity matrix, the BitShares blockchain is a serious contender, with an all time record that surpasses both.
Furthermore, as it forms the basis for a growing variety of crypto-collateralised stablecoins, it is capable of uniquely hacking into cross-border payment systems, including the multi-billion dollar remittance industry, and serve as an important fiat-to-crypto gateway for traders.
Let’s have a look at the best hassle free places to buy into BTC, ETH and BTS.
A centralised exchange, Binance is among the most popular exchanges in the world with massive volumes. It lists a wide variety of tokens and trading pairs. As with every exchange, it is possible to deposit crypto into a Binance account easily.
Perhaps more significantly, it is now also possible to purchase BTC, ETH and several other cryptocurrencies using a credit card. The downside of this method is that this only possible with USD and EUR and it comes at an average fee of 7%.
Another way to get into BTC and then onto an exchange which lists ETH and BTS is through LocalBitcoins, an over-the-counter (OTC) service provider. Their platform allows buyers and sellers to place ads and facilitates transfers via escrow.
While up until recently, their service meant a relatively hassle free process, due to tightening regulations back in Finland, where LocalBitcoins is based, since the 1st of June, 2019, their service no longer includes cash trading.
Bitcoin ATMs, which are found in most large cities, are literally ATMs where you can either buy or sell bitcoin. These devices cater to retail investors, meaning they can handle reasonable amounts of cash. You can do so anonymously and relatively easily. Once you have the bitcoin in your wallet, you will be able to transfer these funds to an exchange, if you wish to trade, or transfer the funds to a hardware wallet.
At times, ATMs are congested and confirmation of receipt may take up to 24 hours. Another downside is that fees, usually above 5%, are high.
Bitspark’s system allows for retail investors, professional traders and businesses to purchase crypto with cash and by transferring funds from your bank account. Depending on the amount, cash can either be picked up and stored in a vault, or you can bring the amount yourself to one of Bitspark’s Cash Points.
In exchange for your cash, you receive the same amount in a corresponding stablecoin (HKD for Sparkdex.HKD, USD for BitUSD, etc.). These funds are located in your personal Bitspark wallet which is integrated in your account and from there you will easily able to trade into BTC, ETH, BTS or any other local currency stablecoin.
The latter may be appropriate if you wish to transfer money abroad, without having to go through conventional currency exchange mechanisms. Likewise, if you wish to sell your crypto for cash, you’ll be able to have your funds transferred to your bank account, delivered or exchanged for cash.
Bitspark is a bankless money transfer ecosystem that enables businesses and people to cash in and cash out cryptocurrencies across Asia and Africa.