Bit.Store adds mobile wallets with Alchemy Pay

Bit.Store, the leading Asian SocialFi crypto investment platform, and crypto payment service Alchemy Pay have deepened their cooperation. Alchemy Pay will add domestic instant transfer services and mobile wallets to the platform, Invezz learned from a press release.

Off-ramp capabilities

The payment service will also supply Bit.Store with off-ramp capabilities. Users will be able to convert their crypto funds into the fiat currency of their choice. The funds will be transferred directly to their bank accounts.

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Bit.Store’s users grew by almost a third in a few months

The new features will improve Bit.Store’s app, which is already quite commonly used in Europe and Southeast Asia. Bit.Store is among the best-known social crypto investment platforms for Indonesian retail investors. Although it launched as recently as last year, it has seen exponential growth.

Its users have increased by 30% to 700,000 since the partnership was concluded in November 2021.

Beginner-friendly

Thanks to its intuitive and straightforward interface, Bit.Store has established itself as a beginner-friendly investment platform enabling secure and convenient access to crypto regardless of the user’s background.

The simplicity of functionality and design does away with the entry barrier for many. By upholding the SocialFi model and using social elements, the app stands apart from the competition.

Making smarter investment decisions

Bit.Store helps laymen of crypto make smarter investment decisions. It lets users create communities to share info, embracing the web3.0 epoch. The app has numerous forums and groups for trading discussions and current news as well as educational content.

Bit.Store co-founder Carl Moss commented:

It is a big step forward to offer the flexibility of Alchemy Pay’s easy, secure payments to our users. Acceptance of mobile wallets are crucial, in particular, to our Asian users where so-called alternative payments are now becoming the dominant method. Additionally, the ability to pay-out from our platform via Alchemy Pay puts us way ahead of many of our competitors.

John Tan, CEO of Alchemy Pay, added:

Our focus right now is on our ramps that are integrated onto crypto and web3 services. The ability to onboard users to platforms directly via global and local fiat payments, and then offer the chance to cash out again makes for a seamless, user-friendly experience. We are expecting to make a huge impact on the web3 movement with these ramps.