Bread, a bitcoin wallet application announced that starting this week Bread users around the world will have the ability to use a credit card to purchase bitcoin and have it deposited directly into their Bread wallet account. The new feature builds on a partner integration with Simplex to allow for higher limits and near-instant delivery for most users.
The ability to get instant purchases is attractive to users, who sometimes have to wait up to a week if using a bank account. Also daily limits on many services is too low for users to acquire a substantial amount.
Bread will be providing same-day delivery of bitcoin purchases with limits up to $20k per day and $50k per month, with identity verification completed right inside the Bread app.
This new feature joins two existing purchase options in Bread: ACH transfer in the US, and in-person purchases through ATMs and convenience stores in multiple countries.
The Bread team stated:
“With Bread, your bitcoin is delivered directly into the safety of your personal wallet, where you alone control the private keys. You get the service of an exchange without taking unnecessary risks. As we expand, we will offer a broad set of financial services that enable you to use digital assets seamlessly in your daily life, and this is one more step in that direction. At the core of our model is gold-standard security, giving you the confidence to utilize cryptocurrency in the real world.”