Komodo Platform is excited to announce that KMD coins can now be purchased with fiat money at 170,000 physical locations throughout Europe, Australia, and Canada. As of July 30, 2018, KMD will also be available for purchase with and sale into fiat in sums greater than $1,000 USD.
This is an enormous step forward for Komodo Platform for two reasons.
First, it creates a simple, fiat-friendly entry point for buying KMD. In fact, this physical purchase option makes KMD accessible to tens of millions of people. Buying KMD online may be difficult for some, but now it can be purchased with fiat at more than twenty thousand brick-and-mortar stores. Simply buy a Flexepin voucher with cash or a debit card, then redeem the voucher online to receive your coins. Similarly, KMD can now be purchased with fiat at virtual ATMs all across Canada.
Second, this new development provides an easy path for selling KMD coins, thus generating value. KMD coins already have value in a number of important ways— paying the fees for Komodo’s dPoW security services and Komodo’s JUMBLR privacy tool, among other things.
Now, KMD can also be sold for fiat currency through virtual over-the-counter trading desks. To use these OTC trading desks, transactions must be made in amounts greater than $1,000 USD. The fact that millions of people can sell their KMD coins directly for fiat gives Komodo a degree of value that most cryptocurrencies have not yet obtained.
All of this is made possible by an agreement between Komodo Platform and Netcoins, a business that strives to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Komodo Platform is one of the first cryptocurrencies to be integrated to the Netcoins network.
“Komodo Platform is a welcome addition to our newly-added lineup of cryptocurrencies,” said Netcoins CEO Mark Binns, noting that “Komodo’s technology is a game-changer as it allows users to easily launch their own secure, independent blockchain.” Mr. Binns said that Netcoins is looking “forward to welcoming more cryptocurrencies and coins to our Netcoins network soon.”
Komodo is equally excited about this recent deal. “Komodo is thrilled to be added to the Netcoins Platform,” said Ben Fairbank, General Manager at Komodo Platform, adding that “Netcoins shares Komodo’s vision of being more accessible to more people, by offering numerous convenient purchase options through its virtual ATM, OTC and voucher services.”
Mr. Fairbank continued: “Komodo supporters can now use fiat options to make their purchases of the native KMD coin…. As blockchain technology becomes more widely acknowledged, it is important that adoption is a primary focus.”
In addition to the services described above, Netcoins will promote the availability of KMD coins across its network of retail locations. Komodo Platform is pleased to be coordinating marketing efforts with Netcoins.
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