Advanced Cash, an online payment platform, teamed up with BitPay to offer users 0% fee top-up of accounts in bitcoin. CoinFox reached out to Tom Abramov, Chief Business Development Officer at Advanced Cash, to find out more about the partnership.

Abramov confirmed that the demand for deposits via bitcoin and withdrawals to bitcoin has been growing steadily since the company added these options to their platform.

“A lot of users buy bitcoin with Advanced Cash, but withdrawals to Bitcoin wallets are popular as well. Many people use Advanced Cash as a fast and affordable way to cash out their Bitcoins or spend them using their virtual and plastic cards,” he said.

Tom expects this trend to continue. Advanced Cash is going to add more features that could be useful to bitcoin users internationally, like plastic cards in euros, domestic European bank transfers, and more, he added.

“Bitcoin deposits are getting more and more popular as a fast and easy way to fund your Advanced Cash account and order a plastic MasterCard. The exchange rate is on par with major Bitcoin marketplaces, so we are excited that people see Advanced Cash as a viable alternative to other ways of turning Bitcoin into fiat money,” Tom Abramov, Chief Business Development Officer at Advanced Cash, told CoinFox.

Advanced Cash sees the growth of the bitcoin industry as a possibility to boost the popularity of their e-wallets. Abramov explained that they have chosen to collaborate with BitPay because this payment processor offers flexibility, understands their needs, and operates in a legally transparent manner.

As for the future of bitcoin in e-commerce, Abramov is optimistic:

“We feel Bitcoin has a great future as an easy to use international payment tool.”

Advanced Cash believes that bitcoin will get closer to fiat currencies as the industry grows. This will happen because bitcoin businesses will adopt similar anti-money laundering and know-your customer practices:

“Here at Advanced Cash, we are all about complying with all applicable legislation and keeping things transparent and therefore reliable and viable in the long run. We feel this is the direction to go in the Bitcoin world,” Abramov told CoinFox.