Bitcoin Exchange CEX.IO Sees over $40 Million in VISA & Mastercard Deposits

European bitcoin exchange CEX.IO has announced a milestone of over $40 million in fiat currency deposits via payment cards. The figure underlines users’ preference of purchasing bitcoins with credit and payment cards over other conventional methods.

London-based CEX.IO has announced that it has seen over $40 million in fiat currency deposits made toward its exchange for buying bitcoins from credit cards.

In an emailed release to CCN, the European bitcoin exchange was among the earliest ones to add payment cards as a means to deposit funds. VISA and Mastercard payment cards are the most commonly used payment means by users to buy the cryptocurrency.

More recently, virtual cards such as Payoneer, Neteller and Netspend are also among the payment methods accepted by the exchange. Altogether, the bitcoin exchange has processed deposits in excess of $40 million so far.

In a statement, Oleksandr Lutskevych, CEO and Co-Founder of CEX.IO said:

We operate as a broad and reliable bridge between people who are willing to buy Bitcoin and the blockchain industry. As credit cards are still the most common thing in users’ pockets, no matter what country they come from, we decided to direct our efforts on user-friendly, fast and cheap Bitcoin purchases using payment cards.

The exchange expects the aggressive growth to carry on, with its claim of 600,000 registered users – all of whom will also be enabled with instant withdrawals to payment cards in USD, EUR and RUB.

“Recently announced withdrawals to Visa and MasterCard from CEX.IO is another breakthrough feature that was very awaited by our existing and potential customers,” he added.