Today, TransferGo rolled out a new feature that lets customers buy and sell five different cryptocurrencies. With the added cryptocurrency support, TransferGo users can now trade Bitcoin, Bitcoin Cash, Ripple, Litecoin, and Ethereum. This news comes nearly two years after TransferGo first announced the addition of their real-time payment feature, TransferGo NOW.
Using TransferGo NOW, users are able to have seamless, nearly instant purchasing power. Meanwhile, real-time settlement has reduced TransferGo’s delivery down to 30 minutes or less. As a result, TransferGo’s user base continues to see a noticeable increase. Noting the addition of cryptocurrency trade, TransferGo Founder and CEO Daumantas Dvilinskas stated:
“We’ve launched this cryptocurrency trading facility in response to demand from our user base. With over 4,000 users signing up in the first few hours, we can see there is a strong demand in the market for a simple and reliable investment and trading solution.”
TransferGo users can access this new trading facility using the company’s iOS and Android apps. According to reports, TransferGo’s anti-money laundering (AML) and know-your-customer (KYC) will remain the same as the company’s remittance services.
The core idea behind TransferGo’s service is to offer users a safe, comfortable environment to invest in crypto. With over 650,000 users and a money flow of $1 billion, TransferGo has firm feet to stand on, which is enticing to investors who may be skittish about the safety of cryptocurrency.
TransferGo’s cryptocurrency support, and its speed thanks to TransferGo NOW, is highly valued in the money transfers sphere according to Dvilinskas.
“We at TransferGo have already noticed the incremental increase in the use of various mobile devices, with mobile phones even overtaking desktop usage in the last year, leading to our revolutionary decision to launch close to real-time money transfers for desktop and mobile users, so we can serve our customers even better.”
Moving forward, TransferGo will likely continue to be seen as a disrupter in the money transfer industry as they aim to break the barriers standing in the way of senders and recipients of money. This includes cryptocurrency, with more and more companies aiming to offer quick and easy transfers.
That said, TransferGo’s cryptocurrency support only extends to major tokens Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple. Investors in altcoins may not see the value in trying out TransferGo, though it stands to reason that TransferGo will add support for additional coins over the next year or so.
What are your thoughts? Are you excited to hear companies like TransferGo are adding cryptocurrency support, or do you think more needs to be done to entice investors? Let us know your thoughts down in the comments below!