Banxa enables consumers (i.e. individuals only) to buy and sell cryptocurrency (e.g. Bitcoin, Ethereum, etc) using traditional currencies known as fiat currencies (e.g. USD, EUR, AUD, GBP, etc.).
The value Banxa provides to our partners is that we handle the regulations and payments associated with the conversion of fiat currencies into cryptocurrencies (or vice versa).
The main regulations are in relation to Know-Your-Customer (KYC), Anti-Money Laundering (AML) and Counter-Terrorism Financing. Banxa takes responsibility for complying with these regulations thereby taking the burden off our partners.
Numerous payment methods can be used such as credit card as well as multiple methods for performing a bank transfer. Another value add that Banxa provides to its partner’s is handling the fraud and chargebacks associated with fiat payments.
Updated about 1 year ago