now allows users to purchase all of its available altcoins with MasterCard and Visa credit and debit cards.
The UK-based bitcoin brokerage first announced support for credit card payments this May when it added the payment option for bitcoin buyers. Bittylicious accepts bank transfers, cash payments and select mobile payments services such as Barclays Pingit, though card payments are only available in euros.
Speaking to CoinDesk, Bittylicious founder and director Marc Warne cited strong demand for the payment option as the motivating factor behind the decision, and he added that the service upgrade would be finalized over the coming days.
Founded in 2013, Bittylicious is one of the oldest exchange services in the UK, facing notable competition from Coinfloor. Bittylicious sells blackcoin, dogecoin, darkcoin, feathercoin, maxcoin, peercoin, quarkcoin, StartCOIN, vertcoin and worldcoin.
Existing security applies
Warne stressed that altcoin buyers will be subject to the same security procedures as bitcoin buyers.
Users first need to upload an ID, Warne explained, which is then vetted by card processors. The process will take about one business day and serves as an added safeguard against fraud.
Bittylicious users also need to provide their own wallet for all bitcoin and altcoin transactions. For a more in-depth overview, Warne suggested prospective users review its online 'Bitcoin Buying Guide' for more details.
Evolving payment options
Warne suggested that credit card payments have remained a popular payment option at Bittylicious since their introduction, and that he does not see enabling credit card payments as contradictory to the larger goals of bitcoin.
Rather, Warne suggested that supporting more payment options is good for the ecosystem as it encourages more buyers to enter the community.
"Many people that either want to make a purchase without having to log in using their online banking, or want to make larger purchases, are happy to pay a little extra to use their card," he added.
Going forward, Warne said Bittylicious plans to streamline its card process and increase the number of local payment methods to European markets.
Images via Shutterstock; Bittylicious
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