Users of the decentralized exchange will also be able to acquire cryptocurrencies via bank transfers.
crypto may now be acquired using debit/credit cards, bank wires, and more via the Uniswap web app thanks to a partnership with fintech firm Moonpay. Users in the majority of U.S. states, Brazil, the United Kingdom, and the Single Euro Payments Area (SEPA) will soon have the ability to make a bank transfer.
In a press release dated December 20th, Uniswap announced that its customers will be able to instantly exchange USD for Ethereum mainnet, Polygon, Optimism, and Artibrum cryptocurrencies.
Uniswap claims that DEXs are safer than CEXs due to features including enhanced user safety, self-custodial wallets, and a transparent public ledger.
Although there are risks involved, the business has said that the onboarding process for decentralized finance (DeFi) has been a key barrier to adoption. With “no spread costs on USDC,” the “lowest processing fees in the industry,” and “immediate access,” Uniswap believes its newest release will streamline the onboarding process.
The timing of Uniswap’s launch is particularly beneficial since numerous centralized cryptocurrency exchanges have recently failed, the most recent being FTX.
According to a Cointelegraph post from November 22nd, several users of Uniswap were unhappy with the company’s decision to gather and store user data as part of its updated privacy policy.
The exchange will gather data from the public blockchain, information about user devices including browser information and operating systems, and information on user interactions with its service providers, as detailed in the privacy policy that was amended on November 17.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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