Uniswap to Allow Purchase of Crypto via Debit and Credit Cards

Uniswap has collaborated with finance firm Moonpay in order to facilitate the purchase of cryptocurrency utilising debit cards, credit cards, and bank transfers, through its web app. 

Most customers in the United States, Brazil, the United Kingdom, and the Single Euro Payments Area (SEPA) will soon have the option to pay with a bank transfer.

The announcement came on December 20th, and it detailed how Uniswap users can quickly exchange fiat currency for Ethereum mainnet, Polygon, Optimism, and Artibrum cryptocurrencies.

With the latest release, which has “no spread fees on USDC, lowest processing fees in the market, and instant access,” Uniswap aims to make the onboarding procedure more smooth.

Uniswap will work with Dai, Tether, Ether, Wrapped Ether (wETH), USD Coin, Wrapped Bitcoin (wBTC) at first, which will vary according to the user’s location and the laws of the land.

Additionally Uniswap seeks decentralised exchanges (DEX) as a significantly more secure choice than centralised exchanges (CEX) due to the fact that they feature built-in user security, self-custodial wallets, permissionless and immutable protocols, and transparent public ledgers.

Even then, consumers prefer CEXs due to the convenience they provide, and the company has admitted that this is a key reason why DeFi hasn’t been more widely adopted. 

Uniswap’s NFT Push

According to a recent announcement, Uniswap now facilitates the trading of non-fungible tokens via its newly established NFT market aggregator. 

Uniswap customers can use the NFT aggregator to purchase and trade digital collectibles on other marketplaces like OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20. 

When compared to other NFT aggregators, the platform claims that its new open-source Universal Router agreement can save consumers 15% on gas expenditures.

Uniswap is notable for being the first open-source NFT platform. With the launch of “Unisocks,” the decentralised exchange introduced NFTs in 2019. 

However, a recent investigation revealed that the vast majority of bitcoin projects promoted on the Uniswap platform and launched in 2018 were actually fraud.