Decentralised software development firm Sylo have officially launched a ‘buy crypto in-app’ feature to the Sylo Smart Wallet, thereby removing another of the hurdles between everyday people and the mainstream adoption of cryptocurrency.
As of today, users can simply and quickly buy crypto within their Sylo Smart Wallet app by means of bank card or transfer. Available in more than 100 countries, global users now have the choice to pay for their crypto using over 80 different fiat currencies.
Sylo Smart Wallet users around the world will be able to purchase Bitcoin (BTC), Tezos (XTZ) and Ethereum (ETH), with the exception of some residents of the USA.
A feature that democratises access to the cryptosphere, the ‘buy crypto in-app’ feature has been facilitated in conjunction with MoonPay, a backend payments infrastructure that enables the purchase of cryptocurrencies with fiat.
As Bitcoin’s bull run continues into 2021, release of the ‘buy crypto in-app’ functionality couldn’t come at a time more convenient for newcomers who are hungry to get into crypto.
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“Bridging the tangible and digital worlds of fiat and crypto is our consistent goal and we’re really excited to unveil this useful new piece of functionality to our users,” says Ben Jordan, Sylo Co-Founder and Product Director.
“Enabling users to purchase crypto in-app and send it directly to their wallet removes a major ‘pain-point’ that often stops newcomers from getting on board with cryptocurrency and its benefits. We look forward to our global community of users gaining an even better ease of access to crypto by means of this new tech.”
The first large-scale deployment by Sylo for the year, the release of the ‘buy crypto in-app’ feature is by no means the end of their vision for the Sylo Smart Wallet. Features that build upon the ability to purchase crypto in-app will become available in later 2021. Payment via virtual cards such as Apple Pay, Google Pay and Samsung Pay will be made available in the coming months.
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