Credit card purchases integrated within Waves client

It  is now possible to buy WAVES and bitcoin with a credit card, depositing  BTC directly into the Waves client as a native blockchain token.

Waves  has implemented credit card purchases for WAVES and bitcoin within its  lite client via a partnership with Indacoin. The bitcoins purchased will  be delivered directly to the user’s wallet as a WBTC token via the  Waves bitcoin gateway, or instantly converted to WAVES if preferred. The  service is best suited for buying small amounts of BTC and WAVES, in  order to use the platform’s token creation and distribution facilities.

Gateway deposit

Users  can already deposit bitcoins to their Waves wallet using the bitcoin  gateway. The gateway processes bitcoin transfers and exchanges them for  the native Waves bitcoin token, WBTC. The token is backed 1:1 with  bitcoins that are stored in a multi-sig account, managed by a cluster of  secure servers. New fiat gateways will be added in due course, starting  with a Euro gateway.An  additional option has been added to the BITCOIN and WAVES Deposits tab  in the client. A pop-up dialogue allows users to buy cryptocurrency with  a credit card. On confirming they want to continue, the user is  redirected to Indacoin to complete the purchase. The bitcoins are then  deposited to the user’s Waves account via the bitcoin gateway, as  normal, or converted on-the-fly to WAVES. An exchange rate calculator  within the client ensures that users know how much cryptocurrency they  will receive at the point of transaction.

Indacoin

Credit  card processing has been outsourced to Indacoin, an instant exchange  platform that allows fast and easy purchase of bitcoins. Indacoin is  well-established in the bitcoin space and has been offering credit card  purchases since 2014. No registration is required.‘Whilst  we’re lining up gateways that will enable users to move larger amounts  of money into and out of the Waves system efficiently, credit card  purchases allow anyone to buy bitcoin and WAVES quickly and easily,’  comments Sasha Ivanov, CEO of Waves platform. 

‘So they can access token  creation facilities on the platform — something that will be necessary  as we target mainstream adoption and facilitate entry into the  rapidly-growing blockchain crowdfunding sector.’Indacoin  deals with the problem of chargebacks through an enhanced verification  process. To ensure that the owner of the card really does want to  purchase bitcoin, a call is placed to the buyer’s mobile and a  four-digit code provided for confirmation on the site. A spending limit  applies for first-time buyers, which is progressively raised for later  transactions. Visa and Mastercard credit/debit cards can be used.In due course, it will be possible to trade WBTC and WAVES against other tokens on the platform’s decentralised exchange (DEX).

For more information, visit www.WavesPlatform.com