Polkadot Will Start Using Simplex’s Fiat Onramp Solutions

Polkadot will start using Simplex’s fiat onramp solutions and the integration will provide DOT users another route from fiat to crypto as we are reading more in our altcoin news today.

Polkadot will start using the fiat-to-crypto onramp provider Simplex’s solutions and will provide support for the network of crypto exchanges, brokers, and wallets. In an announcement made today, Simplex said that the Polkadot integration will allow crypto users to buy the token with a debit or credit card, bank transfer, or Apple Pay. The financial institution aimed for mass crypto acquisition and adoption and said that the addition of DOT to the list of supported assets will bring it closer to the goal.

Simplex provides more services to other crypto exchanges like OKCoin and Binance with the company partnering with more than 350 crypto companies since the launch and enables the purchase of more than 50 cryptocurrencies on its network. The payment processor was integrated into the Opera web browser as well. All projects that joined the ecosystem have also seen a boost in the token prices over the past few months with REN, OCEAN, and CELR leading the way in the cross-chain interoperability between networks that resulted in the rising of active token holders as well as the trading volume for each project.

At the time of writing, the price of DOT is up to $35.85, marking a rise of more than 300% since the year started. As recently reported, DOT was holding the ground above the $35 level and the $36 level against the US dollar with the price trading nicely above the $35 support and the 100 simple moving average near the major bullish line that is forming with the support at $35.80 on the 4-hour charts of the DOT/USD pair. The pair could start a strong rally once it manages to clear the $39.50 and the $40 resistance levels.

After correcting to the $28, DOT started a new increase and recovered above the $30 and the $32 levels to move back into the positive zone. The bulls were able to push the price higher and the 100 simple moving average with the recent swing low forming near the $34.83 before the price climbed above the $36.00 and breaking above the 50% fib retracement level from the downwards movement of the $39.53 swing high to $34.83 low.