The cryptocurrency startup Bitsa has decided to add support for Monero (XMR), one of the largest privacy-focused coins in the crypto market. The information was released in an official press release on February 21.
Bitsa Adds XMR Support
In the press release, the company informs that Bitsa prepaid cards will allow Monero users to make payments and process transfers. Monero is known for offering secure, anonymous and untraceable payments and transfers on the blockchain.
Indeed, Bitcoin (BTC) and Litecoin (LTC), two of the most popular cryptocurrencies, have open ledgers. That means that it is possible for individuals, companies and governments to check all the information that is being transferred through the network.
Adding support to this virtual currency is an important step for the whole crypto market. The firm is offering crypto prepaid cards. In this way, users are able to easily spend their virtual currencies anywhere they are.
On the matter, the firm explained:
“Buy in physical stores and e-commerce, make SEPA transfers, transfer money between cards, etc. With Bitsa Card converting Monero (XMR) to euros to make purchases and transfers is a fast, simple and safe process. And all from the app!”
In order to reload your Bitsa Card with virtual currencies, you will have to select the “Top-up” option and choose the “cryptocurrencies” method. Once you have done that, you will then be able to select the virtual currency you want to use to fund your account.
Users will also be able to withdraw cash from ATMs, carry out SEPA transfers and make transfers between cards.
Monero was created back in 2014 and continues to play an important role in the crypto market. As mentioned before, this virtual currency allows individuals to have their information protected when they move funds or transact virtual currencies. Thus Monero is considered to be a fungible virtual currency.
In addition to it, there are many other privacy coins in the market that are offering similar services to Monero. Indeed, Litecoin is also working in order to offer fungibility to its coins. This could help the virtual currency to get new users and protect their privacy as well.
Meanwhile, Monero continues to expand in the market. At the time of writing, Monero (XMR) is the 14th largest crypto in the market with a valuation of $1.43 billion and a price per coin of $81.81.