MyEtherWallet now allows to buy Ethereum for fiat

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4 months ago
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MyEtherWallet, one of the most popular wallets for Ethereum and ERC20-tokens, has announced the implementation of a new feature – it now allows to buy ETH using Visa or MasterCard.

According to the announcement, the Simplex platform is used to purchase the cryptocurrency. One of the advantages of Simplex is the use of artificial intelligence and advanced algorithms to detect fraudulent activities. If such an attempt is made, then the Simplex platform, rather than MyEtherWallet, will counteract fraud.

To be able to buy the cryptocurrency using a plastic card, the user must undergo verification. Also, the bank issuing the card must allow operations with cryptocurrencies. A lot of banks around the world have disabled this function.

The popularity of MyEtherWallet makes the service desirable for hackers. Earlier this year, DNS servers of the wallet were hacked.