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Celsius users can now purchase Tether Gold using debit and credit cards

May 28, 2020

Celsius Network extends its partnership with Fiat-a-Crypto payment provider Simplex by allowing its users to buy more cryptocurrencies using credit and debit cards.

Celsius, one of the leading cryptocurrency loan companies, Now users can buy the gold-covered stable coin Tether Gold (XAUT) with debit and credit cards. Celsius announced the news on May 28, saying the minimum purchase amount for XAUT is $ 50 while the annual interest rate is 4%.

The Tether Gold deposit was implemented in the Celsius app in early May

In addition to Tether Gold, the new Simplex integration also enables credit and debit card purchases for the company’s native token, Celsius (CEL). According to the company, lCelsius users can earn CEL interest on 25 different virtual cryptocurrencies at a rate of up to 30%.

Celsius users can now purchase Tether Gold using debit and credit cardsCelsius users can now purchase Tether Gold using debit and credit cards

The new function comes shortly after Celsius has listed Tether Gold for the first time in its mobile app. On May 5, Celsius activated XAUT deposits in the Celsius app, allowing users to earn 3% of the annual percentage return. Celsius appears to be one of the few global companies offering to earn interest on Tether Gold deposits through credit and debit card purchases.

Cointelegraph contacted Celsius and Simplex for further inquiries and will be updated when we receive an answer.

Celsius users can also buy BTC and ETH using credit and debit cards

Tether Gold and CEL are not the only cryptocurrencies that can be bought via credit and debit cards in the Celsius network. February 2020 Celsius has implemented a partnership with Simplex to implement cryptocurrency purchases in the app so that Bitcoin (BTC) and Ether (ETH) can be purchased via credit or debit cards. Like other simplex integrations with major cryptocurrency companies like Binance and Huobi, the feature supports credit card companies, including Visa and MasterCard.

In addition to the controversial stablecoin USDT, Tether Gold is one of the stablecoins introduced by the large crypto company Tether. The stable gold-backed currency introduced in January 2020 was later listed on the Tether partner exchange Bitfinex. In March, Bitfinex implemented Tether Gold for futures trading.