The decentralized exchange Uniswap (UNI) recently announced that customers will soon be able to purchase digital assets on the Uniswap Web App using a debit card, credit card, or bank transfer. 160 nations now have access to this facility on a global scale.
Uniswap currently supports Arbitrum, Polygon, Optimism, and Ethereum. It indicates that customers can buy their chosen cryptocurrencies, including DAI, ETH, MATIC, USDC, USDT, WBTC, and WETH, via the DEX.
Trust in centralized exchanges has decreased as a result of the recent collapse of cryptocurrency exchange FTX, and many investors are now storing their cryptocurrency privately. Demand for and trading volumes on decentralized exchanges (DEXs) have increased as a result.
Since DEXs have self-custodial wallets, permissionless, and immutable protocols, they offer greater user protection. On the other hand, DEXs don't provide a very good onboarding experience when compared to centralized exchanges. The Uniswap DEX intends to resolve this precisely with its most recent action.
Uniswap and MoonPay Collaborate
By working with MoonPay, Uniswap is now enabling customers to purchase cryptocurrency using any card and bank transfers, as well as conduct DeFi transactions through the Uniswap Web App. Users can instantly purchase cryptocurrency by simply connecting their wallet to the Uniswap Web app. According to the DEX platform,
“We’re bringing you the best fiat on-ramp experience – no spread fees on USDC, the lowest processing fees in the market, and instant access!”
Additionally, Uniswap has made it plain that they will not gather any financial data about their consumers, including bank and credit card information. Additionally, they don't gather any user data that can be used to identify them specifically. Additionally, Uniswap has set minimum and maximum limits for the acquisition of various cryptocurrencies and stablecoins.
Within minutes after making the transaction, consumers can see their digital assets in their wallets. The ability to transfer cryptocurrency to a bank account has not yet been made available. The DEX did, however, add that they were working on it.
Additionally, consumers are unable to immediately buy NFTs using their cards or bank accounts. They must first buy ETH before using it to purchase NFTs.
