CoinGate support brings Bitcoin SV closer to mass adoption

CoinGate support brings Bitcoin SV closer to mass adoption

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It’s now easier to get hold of Bitcoin SV (BSV) as a growing number of platforms have started supporting the only cryptocurrency that follows the original Satoshi Vision for Bitcoin. The latest service joining the BSV party is Lithuanian-based fintech company CoinGate.

On Monday, CoinGate rolled out support for BSV, allowing its users to natively trade and accept the cryptocurrency.

Established in 2014, CoinGate describes itself as a gateway for blockchain payments, one that provides “a reliable payments infrastructure that caters for the needs of both merchants and their customers: accessible, convenient and customer oriented.” The Lithuanian firm currently serves over 4,500 business clients and 80,000 users, bringing cryptos like BSV closer to mass adoption.

CoinGate’s Chief Commercial Officer Vilius Semėnas notes, “As a bridge between cryptocurrency users and merchants, we are in a unique position to remove adoption barriers for both sides. That said, we are pleased to make Bitcoin SV available for any consumer to spend, without introducing technical hurdles or adding overhead costs for merchants.”

Purchasing BSV via CoinGate is easy; customers only need to create an account and confirm their email addresses and phone numbers. Then, they can choose from several methods including Neteller, Skrill, credit and debit cards, SEPA bank transfer, QQPay and mobile balance to pay for their crypto purchases. There’s no need to deposit funds first before buying and selling digital assets on the CoinGate platform, according to the company.

For merchants, CoinGate offers a variety of methods to set up crypto payments for online and offline stores. Merchants can also keep their revenue in crypto or instantly settle them in euros, which, according to the company, eliminates the risks associated with the volatility in crypto prices.

CoinGate joins the growing number of platforms that have integrated BSV. Coinify added the crypto to its platform in January, followed by Exodus, and then the Waves platform. Recently, large payment gateway CoinPayments expanded its support to include BSV, while Coinbase has also finally allowed BSV withdrawals on the exchange.

For Jimmy Nguyen, founding president of The Bitcoin Association, CoinGate’s announcement is a boost in BSV’s goal of becoming the world’s new money used by millions of people, as well as the global public blockchain with professionalized engineering upon major enterprises can confidently build. BSV, named for the Satoshi Vision of Bitcoin’s creator Satoshi Nakamoto, is dedicated to preserving Bitcoin’s original design. It rests on four pillars: restore the original Bitcoin protocol and keep it stable, allow it to massively scale, while keeping security paramount, and finally, support safe instant transactions for merchants.

“It’s great to see a business with so many active clients in the crypto space recognizing BSV and we are thrilled that CoinGate is joining the party,” Nguyen said.

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.