— Azondo is a globally operating cryptocurrency exchange with offices in Tallinn and Lithuania, that offers simple, convenient and accessible ways for consumers to purchase and utilize cryptocurrencies. Azondo’s solutions are designed to tackle some of the most common challenges most crypto holders face daily. The separation of traditional and crypto-based currencies becomes diminished, as Azondo’s users will have the opportunity to purchase BTC in user-friendly fashion:
With Azondo, users can buy Bitcoin with credit and debit cards. Customers can hold Bitcoin in free Bitcoin wallets, or withdraw their funds at any time. What is usually the most arduous process of buying Bitcoin - the infamous Know Your Customer (KYC) registration routine - has been significantly trimmed down through the use of electronic ID solutions like BankID, NemID, and MobileID.
The KYC and AML rules are becoming increasingly stricter on the European markets; such a venture is warranted by the increase of illegal dealings and operations. Although BTC and crypto traders will this way benefit from improved security and could conduct their crypto businesses with more confidence, the complications imposed by the KYC process are causing a substantial amount of friction.
According to Swift.com, KYC is the key to “combat illegal activities that use the financial industry to move or hide money.” Azondo’s implementation of electronic ID solutions aims to tackle these challenges and allow the exchange’s customers to retain the levels of security provided by KYC and AML rules while eliminating the elements that cause unnecessary friction.
Azondo launches its regulated cryptocurrency exchange, available at www.azondo.com, this month. Azondo operates on the Over-The-Counter (OTC) model, meaning that it is not an open exchange marketplace, but operates as a private buyer and seller of Bitcoin. All trades happen on the books of Azondo. Azondo therefore sets and maintains the buy and sell prices on the platform. This model is similar to that of for example well-known cryptocurrency exchange Coinbase. Azondo generates revenue by means of fixed and variable transaction fees.
One of the main reasons why the brand has opted for BTC is the fact that this cryptocurrency has seen a series of significant surges in 2021. Many analysts would argue that Bitcoin has declined in 2020 due to the Covid-19 pandemic. Ever since the end of November of 2020, BTC has been steadily rising in both price and traded volumes.
The most significant spike of Bitcoin in the past five years occurred on the 10th of January 2021. Although it kept diving towards the tail-end of January and beginning of February, it spiked again in March and reached its all-time peak on the 14th of April. Azondo took the leap of faith despite BTC suffering the deepest dive at the beginning of June 2021, estimating that it will inevitably spike and rise again. The current price of Bitcoin on the European markets has been stabilized for months, and the company has decided that now is the best time to launch its innovative cryptocurrency exchange platform.
With offices in Estonia and Lithuania, Azondo, the Estonian licensed crypto exchange wants to compete for the hearts, minds, and wallets of European crypto investors. More information about Azondo can be found on the company’s official website.
Release ID: 89048478