Waves Adds Credit Card Bitcoin Purchases

Announcements, FinTech | March 29, 2017 By:

Decentralized blockchain platform Waves has implemented credit card purchases for its proprietary token WAVES and bitcoin with bitcoin exchange Indacoin.

The process will work like this: a pop-up dialog will prompt users to buy bitcoins with a credit card. Upon confirmation, the user will be redirected to Indacoin to complete the purchase, which will be in the WBTC bitcoin.

The bitcoins are then deposited to the user’s Waves account via the bitcoin gateway. An exchange rate calculator within the client will provide a total of bitcoins received at the point of transaction.

Indacoin deals with the credit card problem of chargebacks through an enhanced verification process. A phone call is placed to the buyer’s mobile and a four-digit code provided for confirmation on the site. A spending limit applies for first-time buyers, which is progressively raised for later transactions. Visa and MasterCard credit/debit cards can be used.

The bitcoin purchased will be delivered directly to the user’s wallet as a WBTC token via the Waves bitcoin gateway, or instantly converted to WAVES tokens if preferred.

“Bitcoin is the reserve currency of the cryptocurrency world, and so it makes sense that it should be freely available within the Waves ecosystem,” said Waves CEO Sasha Ivanov. “Indacoin has made it possible to buy bitcoin quickly and easily – something that will be necessary as we target mainstream adoption and facilitate entry into the rapidly-growing blockchain crowdfunding sector.”