Users can now buy cryptocurrencies using their Visa or MasterCard credit cards. This is no doubt going to please a lot of traders. Let’s check it out.
Binance Accepts Credit Cards
Announced earlier today, Binance has partnered with Israel-based payments processing firm, Simplex, to allow the ability to use credit cards on its exchange.
The move will now make purchasing cryptocurrency much easier for the platform’s users.
Once active, the exchange will support credit card purchases for Bitcoin (available on Coinbase) (BTC), Ethereum (available on Coinbase) (ETH), Litecoin (available on Coinbase) (LTC), and Ripple (available on Binance) (XRP). These coins can then be traded further, against over 151 other tokens supported on the exchange.
Binance CEO Changpeng ‘CZ’ Zhao said earlier today about the update:
“The crypto industry is still in its early stages and most of the world’s money is still in fiat […] Building fiat Gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.”
Simplex is an Israel-based financing firm with ties to the crypto industry. It raised $7 million in a Series A funding round in February 2016 with investments coming from crypto-miners Bitmain and Cumberland Mining, among others.