Finally: Binance Adds Credit Card Support for Crypto Purchases

January 31, 2019
165 Views

Binance users can now make crypto purchases on the exchange using their credit cards. Malta-based Binance has announced support for credit card payments on its platform through a partnership with Israeli based payment processor Simplex.

According to its press release, the partnership would allow Binance, which is the largest cryptocurrency exchange by volume, to provide a more direct route for investors to purchase cryptocurrencies globally. Previously, users had to buy crypto elsewhere and then transfer them to Binance to trade with.

“We want to provide Binance traders with fast and easy access to crypto, in the most secure way possible. Partnering with Simplex allows us to instantly bridge the gap between credit card payments and crypto for traders globally. On Binance.com, you can now buy crypto with credit cards and start trading in minutes,” Changpeng Zhao, CEO of Binance explained in the release.

With the credit card functionality, Binance users can use their Visa or MasterCard to purchase Bitcoin, Ethereum and Litecoin, for the time being.

“Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users,” Zhao added.

The digital asset platform promises to add other cryptocurrencies to the payment channel later in the future.

Earlier this month, Binance entered the European market with the launch of Binance Jersey, a fiat to crypto exchange.

Trading on Binance Jersey includes support for fiat currencies Euros and the British Pound with cryptocurrencies. At the time, binance had stated that the expansion into the Island of Jersey could provide freedom from the looming Brexit uncertainty for both UK. and EU residents.

https://coinjournal.net/finally-binance-adds-credit-card-support-for-crypto-purchases/


Warning: A non-numeric value encountered in /home/btcethereum/public_html/blog/wp-content/plugins/magazine-plug/shortcodes/s-posts-tabs.php on line 18

Warning: A non-numeric value encountered in /home/btcethereum/public_html/blog/wp-content/plugins/magazine-plug/shortcodes/s-posts-tabs.php on line 18

Warning: A non-numeric value encountered in /home/btcethereum/public_html/blog/wp-content/plugins/magazine-plug/shortcodes/s-posts-tabs.php on line 18

Warning: A non-numeric value encountered in /home/btcethereum/public_html/blog/wp-content/plugins/magazine-plug/shortcodes/s-posts-tabs.php on line 18

Warning: A non-numeric value encountered in /home/btcethereum/public_html/blog/wp-content/plugins/magazine-plug/shortcodes/s-posts-tabs.php on line 18

Warning: A non-numeric value encountered in /home/btcethereum/public_html/blog/wp-content/plugins/magazine-plug/shortcodes/s-posts-tabs.php on line 18

You may be interested

Facebook’s David Marcus Responds to Critics Over Libra ‘Threat’
Crypto News
Crypto News

Facebook’s David Marcus Responds to Critics Over Libra ‘Threat’

btcethereumadmin - September 16, 2019

The head of Facebook’s Calibra – the entity created by Facebook to provide financial services including a digital wallet for…

Harbor Tokenizes Real Estate Funds Worth $100 Million on Ethereum
Crypto News
Crypto News

Harbor Tokenizes Real Estate Funds Worth $100 Million on Ethereum

btcethereumadmin - September 16, 2019

Harbor has pivoted from helping companies issue security tokens to helping them tokenize existing securities. Announced Monday, the startup has…

Deutsche Bank Joins JPMorgan’s Crypto Payments Network
Crypto News
Crypto News

Deutsche Bank Joins JPMorgan’s Crypto Payments Network

btcethereumadmin - September 16, 2019

JPMorgan’s blockchain-based payments initiative has added Deutsche Bank as its latest member. The addition brings the total number of banks signed…

Leave a Comment

Your email address will not be published.