Wirex, former E-Coin rebranded at the end of February, has announced an easy and cost-effective way to buy bitcoin through PayPal, one of the world’s largest online payment systems, according to the company’s blog post. With this announcement, Wirex users in more than 30 countries will be able to use the E-Coin virtual Visa debit card to buy bitcoin with PayPal at the lowest cost. The service will be available through the E-Coin platform. The whole bitcoin industry will benefit from this more convenient way to purchase the cryptocurrency.
The new service gets available for users in such countries as Bahamas, Bahrain, Botswana, Bulgaria, Chile, Croatia, Estonia, Georgia, Gibraltar, Honduras, Iceland, Indonesia, Israel, Italy, Jordan, Kazakhstan, Latvia, Lesotho, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Moldova, Morocco, Mozambique, Oman, Philippines, Romania, San Marino, Saudi Arabia, Senegal, Serbia, Slovakia, Slovenia, Turkey, United Arab Emirates and Uruguay.
To start buying bitcoin with PayPal, you need just a PayPal account registered through any of the supported countries listed above, a Wirex/E-Coin account, and an E-Coin virtual Visa debit card. Wirex informs that it is absolutely necessary to have a small amount of money on your virtual Visa card (minimum of $3 ) and a positive balance in PayPal account to use the service.
Wirex doesn’t require any fees for the service. However, PayPal withdraws $5 per transaction. The minimum amount you can withdraw is $10.
In addition to PayPal, Wirex supports other ways to buy bitcoin through its platform. Last week, Wirex launched the ability to buy through bank transfers and other alternative payment methods (APMs), giving users dozens of options to load their E-Coin bitcoin debit cards and buy bitcoin at a competitive rate.
To allow domestic transfers, Wirex has teamed up with a number of banks, including Lloyds, ING, the Royal Bank of Scotland and Barclays, from more than 68 countries. Still, the company doesn’t conceal its extensive plans and reveals that more banks-partners will be added in the near future.
“We have banking partners around the world that offer easy and low-cost transfers so we can provide you with a convenient way to buy bitcoin,” says Wirex.
The additional financial services offered by Wirex are part of its ongoing rebranding. In February, Wirex Limited announced the launch of Wirex, the world’s first hybrid personal banking solution that combines the benefits of blockchain technology with everyday finances.
The rebranding also integrated E-Coin, the successful bitcoin debit card provider under the same company, into Wirex. All E-Coin users, cards, and accounts will move over to the new wirexapp.com platform without delay once it launches in April 2016.
Even prior to the rebranding, E-Coin enabled instant transactions. The company integrated BitGo Instant and thus offered customers a possibility to transfer bitcoin and load their cards instantly. As a result, three confirmations of transactions are not needed anymore while transactions are made within the BitGo Instant network, currently consisting of 11 companies, and growing.