Bread Launches Credit Card Purchase For Bitcoin - Watch Out CoinBase

Bread Wallet has enabled an international credit card purchase option allowing users to buy Bitcoin with Fiat. The service will include high limits of up to $20,000 per day and up to $50,000 per month. An identity verification process will need to be completed to increase to the max limits and instant delivery.

The addition of credit card purchases builds on a partnership with Simplex, the fraud-reducing payment processing company. The majority of crypto buyers purchase their coins from exchanges like Coinbase and Kraken. Leaving your funds on exchanges can be very risky as exchanges are under daily threats of being compromised. It is advisable to transfer your coins to an online wallet like Bread or a hard, cold storage wallet like the Ledger.

Bread users will be able to skip the step of transferring funds off of an exchange as purchases including the ownership of all private keys will directly go to the Bread wallet.
Prior to the credit card purchase option launch, Bread offered ACH transfers that took 4-6 days and ATM purchases for Bitcoin. The new credit card feature will be available this week.

It seems Coinbase is starting to get some real competition with Bread adding Bitcoin credit card purchases and Robinhood adding cryptocurrencies to their platform. More options for entry points to turn fiat-into-crypto will definitely help with overall market growth.

Bread has also stated their plans to add more cryptocurrencies in the near future.

More Crypto News, Views, and Gossip The Crypto Tea