Infinito and Paxful Form Strategic Partnership for Safe, Feeless Access to Cryptocurrencies Globally
- 11.05.2020 11:15 am
Infinito, the leading multi-crypto wallet for users to easily start investing and earning more with digital assets, today announces its strategic partnership with Paxful, a peer-to-peer bitcoin (BTC) marketplace that aims to provide financial inclusion around the globe.
From now, users of Infinito Wallet can directly purchase Bitcoin at best prices from other crypto users around the world safely, without having to pay any transaction fees. This is made possible thanks to the seamless integration of Paxful's web-based Virtual Bitcoin Kiosk on the Infinito Wallet platform. From 11th May 2020, there is also a limited-time 3% rebate in ETH for all purchases made via Paxful service on the wallet.
The strategic integration between Infinito and Paxful unlocks convenient payment methods for Infinito Wallet users to buy Bitcoin (BTC) with 167+ fiat currencies including USD, VND, GBP, CNY, CAD, and more. The most in-demand payment methods supported by Paxful are bank transfer, gift cards, online wallets, domestic wire transfer, and many more.
To simplify and fully optimize the in-wallet crypto purchasing experience, buyers are instantly matched with sellers who are offering the best price on Paxful's platform based on the currency and payment method chosen. Purchased funds are seamlessly sent to the buyer's wallet address, removing the hassle of transferring funds between different platforms.
A Strategic Partnership to Penetrate New Regional Markets
Additionally, both Infinito and Paxful are looking to penetrate Vietnam, a highly potential market with a rapidly growing Bitcoin investor community of 6 million people and counting. The two platforms are reportedly working on a unique "crypto investment competition" type game that will allow newcomers to try their hands at crypto before investing in the real thing, while the user community at large can take part in fun trading competitions, with prizes, to discover the best crypto traders.
"We're extremely pleased to be Paxful's first-ever crypto wallet partner to enable Bitcoin ownership for even more people all over the world and penetrate the Vietnam market. This shared vision between Paxful and Infinito for a simple, fair, and secure economy for all empowered by cryptocurrencies has driven us to build a safe and accessible platform to purchase Bitcoin," shared Jack Nguyen, Director of Infinito. "We hope that our joint efforts will bring about greater accessibility to Bitcoin for the masses, especially for people still foreign to the concept of digital assets."
"As we continue our work in emerging markets, this unique partnership with Infinito aims to bring bitcoin to the masses and promote the usability of cryptocurrency," said Ray Youssef, CEO, and co-founder of Paxful. "Together, we enable people everywhere to directly purchase Bitcoin at the best prices without having to pay any transaction fees. We're excited to see how this will drive financial access and more opportunities for people worldwide."
Amidst the global financial crisis caused by the Covid-19 pandemic, BTC and cryptocurrency have been gaining great traction as more people ferret for different means to diversify their income streams. Bitcoin ownership globally is growing fast and both Infinito and Paxful have reported sharp increases in crypto purchasing volume on their respective platforms, especially from Vietnamese users.
In Q1 of 2020, Paxful saw over a 43% increase in new user signups in Vietnam compared to Q4 of 2019, with a massive 262% increase in trading volume. Vietnamese seller volume also grew by 69% while the volume of buyers rose by more than 115% on the platform, both with bank transfer as the leading payment method. Similarly, Infinito has reported a colossal 710% increase in buying amount from January to February 2020 for Vietnamese users alone and over 107% increase for global users.