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.
In order to buy Bitcoin (BTC) on Binance, you first need to open an account.
Binance is one of the most widely used cryptocurrency exchanges in the world. A major reason for Binance’s popularity is its extensive selection of altcoins, which continues to grow with frequent additions. No verification is required on Binance for withdrawals below 2 BTC per day, and the exchange also offers a mobile app for both iOS and Android devices.
If you don’t own any cryptocurrency, you can get started by purchasing some BTC on Binance with a credit or debit card.
The most convenient cryptocurrency to deposit if you want to purchase Bitcoin (BTC) is Ethereum (ETH). It has trading pairs with the vast majority of cryptocurrencies listed on Binance and therefore gives you the greatest amount of flexibility.
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.