admin The first in-person, concierge service experience for the purpose of buying cryptocurrency is being created by a collaborative endeavor between Cryptocurrency Exchange International Corp (CXI), Cyclebit and CEX.IO, a regulated cryptocurrency exchange. CXI is a full-service Foreign Exchange Technology and Service Provider, while the Cyclebit is a renowned Cryptocurrency Payment Gateway.
Details about the Project
CXI customers will be able to purchase directly from tellers at brick-and-mortar locations across the US. CXI will accept cash, debit cards, and credit cards for customers buying Bitcoin and Ethereum. In addition, the first 1,000 customers will also receive a free NFC enabled hardware wallet to store and manage their cryptocurrencies. “Adding digital currencies Bitcoin and Ethereum to our long list of currencies that we offer was a natural evolution. We are excited to be working with Cyclebit and CEX.IO to be able to offer this new asset class to our US customers,” propounded Randolph Pinna, CEO of Currency Exchange International.
Sameer Pirani, CEO of Cyclebit asserted, “A concierge service by a trusted brand like CXI for purchasing cryptocurrencies is the type of initiative that will push the adoption and acceptance of cryptocurrencies.” Alexander Kravets, CEO of CEX.IO US added to the prospects of this endeavor stating, “CEX.IO is a worldwide leader in digital asset trading, and we are excited to partner with strong, regulated companies like CXI and innovative technology providers such as Cyclebit to bring physical crypto purchases to the retail public, thereby engaging a whole new population in the growing worldwide financial paradigm of digital assets.”
Need for the Service
This first-of-its-kind collaborative venture will allow customers to purchase Bitcoin and Ethereum in less than 10 minutes, at selected CXI branches, starting from the 17th of February, 2021. This initiative has been undertaken to simplify the process of understanding, purchasing, and handling cryptocurrencies. The concept of purchasing bitcoins or any other cryptocurrency can be daunting for a novice user. This is simply because these modalities of digital currencies are so vastly different from the traditional fiat currencies or physical assets we are accustomed to handling. Similarly, there exist qualms among potential investors about the risk of providing Know Your Customer (KYC) details to new and unregulated entities for their first purchase.
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