February 3, 2023

Decentralized finance (DeFi) platform Uniswap (UNI) is announcing that users can now buy cryptocurrencies on its web app using credit or debit cards and bank transfers.

The leading decentralized cryptocurrency exchange (DEX) is rolling out support for the new payment methods in partnership with MoonPay, a fintech company building payment infrastructure for crypto.

“Now you can go straight to DeFi with the Uniswap Web App and buy crypto on our web app with any card or bank transfer in over 160 countries with our premier partner, MoonPay.”

The availability of payment options varies depending on the region. For example, wire transfers are only available to users in most of the US, Brazil, Single European Payments Areas (SEPA), and the UK.

The DEX says the crypto assets Ethereum (ETH), Dai (DAI), USD Coin (USDC), Tether (USDT), Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH) will receive support at launch depending on the region of the user. Those based in the US cannot purchase wETH or wBTC.

With centralized exchanges gaining more scrutiny amid allegations that former crypto giant FTX has embezzled client funds, Uniswap says self-custody is the safest option when investing in crypto.

“However, a major barrier to DeFi adoption has been the onboarding experience, forcing users to store their resources on CEXs for convenience despite the risks.”

The platform say it makes self-preservation more accessible.

“We wanted to ensure that all our users, and future users, have a secure way to buy crypto, without relying on centralized intermediaries.

Now when you connect your wallet to the Uniswap Web App, you can buy crypto with fiat. This is an important step in making DeFi & self-custody more accessible to all users.”

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making risky investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/Suwin

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