Austrian-based startup Coinimal has become the first crypto exchange to allow their customers to buy cryptocurrencies with Neteller. Coinimal claims that the move was a logical decision to make, as it allows users to use a trusted global partner when using their platform. The announcement comes less than a month after Neteller announced that their customers can deposit Bitcoin directly into their accounts.
Coinimal was launched on December 15, 2014 with the intent to make it easier for anyone to buy Bitcoins. Paul Klanschek, CEO of Coinimal, said that he and his two co-founders, Eric Demuth and Christian Trummer, were inspired by their own difficulties in trying to buy Bitcoins in the EU. They set out in mid-2014 with the goal of creating a platform that allowed anyone to buy Bitcoins in minutes without needing to trust the operator. In October of the same year, Coinimal was officially founded. Since then, the exchange has been gradually gaining popularity with European cryptocurrency enthusiasts. As of April 19, 2015, users can buy and sell Bitcoin, NXT Coin, and Litecoin.
Negotiations between Neteller and Coinimal lasted several months, and were led by Eric Demuth. CEO Paul Klanscheck believes Neteller agreed to work with them because of their sophistication and commitment to compliance. He also said that they are “…extremely proud to be the first crypto merchant in the world to accept NETELLER officially.” This new partnership will certainly help with bringing Bitcoin and other cryptocurrencies to the masses since it is now even easier to buy.