The most important names in the crypto space are all supporting adoption, and their efforts will undoubtedly lead the digital assets on the right path towards mainstream adoption.
The exchange revealed that both credit and debit card payments for crypto are now open and this was possible courtesy to a partnership with Simplex – a fully-licensed financial institution that provides online payment processing solutions without any hacking risks involved.
Turning fiat into crypto has never been easier
From now on, Binance users will find it much easier to turn fiat into crypto.
“Binance is thrilled to enable debit and credit card payments for cryptocurrencies through our new partnership with Simplex,” according to the official announcement.
— Binance (@binance) January 31, 2019
The exciting news says that “As part of Binance’s larger mission to increase the adoption and mainstream accessibility of crypto, Binancians are now able to use Visa and MasterCard to buy BTC, ETH, LTC, and XRP, and start trading on Binance.com within minutes.”
The fees are 3.5% for each transaction, and the minimum charge is of $10.
Changpeng Zhao says that this move is a part of their efforts to make it much easier for people to enter in the crypto game.
Binance’s goal is to provide people with faster and easier access to crypto, and the most important thing is that access will be completely safe.
“With most of the world’s money still resting in fiat, building fiat gateways is what we need now to grow the ecosystem and create more long-term opportunities for crypto,” CZ says.
The option is disabled in some countries including Cuba, Libya, Iraq Afghanistan and in the US all states are supported but six of them: New York, Connecticut, Hawaii, Georgia, New Mexico, and Washington excluded.