Binance Added Support For Purchasing Crypto's With Credit Card.

Binance Added Support For Purchasing Crypto's With Credit Card.

2019-02-01 | Mike Hallen

Binance Added Support For Purchasing Crypto's With Credit Card.

In line with a recent press release published, renowned crypto lending exchange Binance is adding support for credit card crypto purchases through its recent partnership with payment processor named ‘Simplex’.

Binance’s chief executive officer named ‘Changpeng Zhao,’ stated that the firm “wants to offer Binance traders with quick and easy access to crypto, within the most secure option possible.” Zhao additional stated that the exchanges users can buy digital assets with credit cards and “start trading in minutes.”

Zhao continued explaining that “the crypto business is yet  in its early stages and most of the world’s money is still in fiat,” which, per him, is the reason why fiat gateways are necessary for the expansion of the ecosystem.

Co-founder and chief executive officer of Simplex ‘Nimrod Lehavi’, said that for the mainstream users, simple and quick credit card payments are “a key factor in the wider adoption of crypto’s.”

In line with the press-release, Binance users would be able to use Visa and MasterCard cards to buy Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and Ripple [XRP].

Binance is presently the world’s 'largest' cryptocurrency exchange by daily trading volumes. Over the past twenty four hours to press time, the exchange saw around '$582 Mln' in trades.

Just last week, Binance exchange launched its own OTC [over-the-counter trading desks] for larger transactions. The new launch, dubbed 'Binance OTC', offers services for the users performing trades valued at least 20 Bitcoins [BTC] (about $68,800 USD at the reporting time).

Following the recent hack of New Zealand exchange named ‘Cryptopia’ last week, Zhao 'proclaimed' that Binance had frozen a number of the tokens sent to its wallet by the alleged hacker. Analysis from blockchain infrastructure firm 'Elementus' states that around $16 Mln worth of Etherem [ETH] and ERC20 tokens were stolen within the recent hack.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List