Binance is the most popular cryptocurrency exchange on the market, but it always had one key weakness – not supporting fiat currency trading. Now, Binance is making steps to make it possible for its customers to purchase crypto with fiat currency. Recently, the firm partnered with payment processor Simplex to provide cryptocurrency purchases with a credit or debit card.
In this article, we will explain how to use Binance’s new feature to purchase some BTC. Binance allows cryptocurrency purchases with USD and EUR, with the minimum/maximum purchase being equivalent to $50 and $20,000 USD, respectively.
Binance is one of the most popular exchange platforms within the crypto market. However, it has always had one weakness—not supporting fiat currency trading. Now, the platform is making changes that will allow its customers to purchase crypto with fiat currency. Recently, the exchange partnered with Simplex, a payment processor to provide crypto purchases with a credit card.
The use of credit card in crypto is controversial, as top exchanges have gone back and forth on this topic. For instance, Coinbase stopped allowing credit card purchases in 2018, but when it used to allow them, customers would incur additional charges.
However, Binance has decided to make this bold move, but the credit cards can only be used to purchase a limited set of tokens, namely Bitcoin, Litecoin, Ethereum and XRP.
Customers of Binance can now purchase crypto directly using debit and credit cards via payment processing firm Koinal.
Binance clients can now buy 5 cryptos using credit and debit cards by Visa and MasterCard
Customers of major crypto exchange Binance can now purchase crypto directly using debit and credit cards via payment processing firm Koinal.
Binance users can now buy crypto using their Visa and MasterCard debit and credit cards, the company announced in a blog post on Sept.
Binance, the world’s largest crypto exchange based on trading volume, will now let you spend money you don’t have after it added support for credit cards from Visa and Mastercard.
Credit card usage in crypto is controversial. Aside from the risk — ask anyone who bought crypto last year… — top exchanges have gone back and forth on support.
Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, has just made it easier for users to buy cryptocurrencies.
The exchange announced Thursday that it has partnered with Israel-based payments processing firm Simplex to enable purchases with Visa and MasterCard credit cards.
At launch, the exchange is supporting credit card purchase for bitcoin (BTC), ether (ETH), litecoin (LTC) and XRP.
Despite the plummeting prices, buying your way into the world of cryptocurrencies is getting easier every day.
Binance, the world’s largest cryptocurrency exchange by volume, announced on Thursday it now supports purchases via credit and debit cards.
Visa and Mastercard are currently supported, and users can buy Bitcoin, Ethereum, Litecoin and XRP. To do so, go here, choose the coin, enter the amount of coins you want to buy, enter your credit card details and you’re ready to trade those with the 150 coins and tokens supported by Binance.
The payments are processed by a third-party payments service Simplex.
The service works in the U.S.
with the exclusion of six states: NY, CT, HI, GA, NM and WA.
The list of restricted countries is fairly small, but it does include some banks in China. For a full list, go here.