Yacuna Launches No-Verification Bitcoin Buying for Crypto Novices

UK cryptocurrency exchange Yacuna has launched a website that aims to remove the hassle of trading for newcomers who want to buy cryptocurrencies quickly and easily.

Selling bitcoin, dogecoin and litecoin, YacunaDirect is a user-friendly platform designed to appeal to a broad international audience, including traditional traders and finance professionals, who may not yet have experimented with digital currencies.

The firm acts as a broker and lets users buy cryptocurrencies at a fixed price, rather than having to navigate the ups and downs of a live exchange.

Speaking to CoinDesk, Andrei Martchouk, CEO of the Yacuna Group, framed the new bitcoin shop as a way to make cryptocurrency more accessible and convenient for regular consumers.

He said:

“Many of our customers told us they'd like to purchase bitcoins directly. They want to buy cryptocurrencies instantly, without sign-ups or verification processes and spend them directly for other goods. We are the first exchange to integrate this kind of service in our business.”

How it works

YacunaDirect currently allows users to purchase their coins with fiat payments made via SOFORT Banking. Notably, there is no registration process requiring ID and proof of address.

After specifying how much cryptocurrency is required and entering digital wallet and email addresses, users are taken to the payments page where bank account details are taken via SOFORT.

Customers receive their cryptocurrency within 12 hours of the payment confirmation, the company says.

Purchase limit

The lack of a user registration process means there is a limit on how much cryptocurrency a person can purchase per day.

"In order to allow a frictionless shopping experience, we allow our customers to purchase the supported cryptocurrencies up to a limit of €100," said Martchouk. "Of course you can purchase more than that with YacunaDirect, however it will require a registered account with Yacuna.com ... We're setting this limit to comply with the EU-regulation on e-money services."

Additionally, while SOFORT currently accepts bank payments from seven European countries via the site, it currently does not have an option for UK customers.

Martchouk said: "This is being fixed. The UK is supported by our payments partner and we are in the last stages of contract discussions."

Yacuna is an international project of Yacuna AG, a company based in Zurich, Switzerland. Yacuna Ltd, based in London, UK, operates the international exchange Yacuna.com in the EU.

Image via Yacuna