Binance now supports buying cryptocurrencies by binding Visa cards to your account

By Dorothy 12/27/19 4:00 AM

The crypto exchange Binance now has the option to add debit and credit cards directly on its platform.

According to a statement on Thursday, Binance, the largest exchange by trading volume, has just announced support for buying XRP of Ripple along with Bitcoin, Ethereum and Binance Coin by binding Visa debit/credit cards.

Binance decided to allow users to link Visa cards to their respective accounts, using the same card to purchase any form of cryptocurrency directly from the exchange.

According to an update, users can access this service through the “Buy Crypto” page on the Binance trading platform.

You can choose an amount of EUR or GBP after following the link above, and continue by clicking next, followed by “Add Card”. This means for users to bind their Visa cards.

In January, Binance introduced an option that allows users to purchase Bitcoin, XRP and other digital assets with a thorough credit card payment provider based in Israel Simplex. It was the first step to develop the exchange’s fiat ports. The big difference is that users can now directly add their debit/credit cards without relying on a third party company.

According to the report, Binance has also recently increased the number of trading pairs for Turkish Lira (ETH / TRY, XRP / TRY, USDT / TRY). Apart from Turkey’s Lira, the exchange currently supports a large number of other currencies, including the Euro and the Russian Ruble.

Currently, Visa cards are issued in 31 supported European Economic Area countries, including the United Kingdom, Germany, France, Greece and Malta. Accordingly, two fiat currencies – euro and British pound – are supported.

After initially allowing users to add a new Visa card, Binance announced that they would also support Mastercard, another leader in the global payment field. On top of that, the exchange will also add additional cryptocurrencies that can be purchased directly with your credit card.

Binance supports Paxful to expand users’ options for buying cryptocurrencies with Fiat

Binance, the largest cryptocurrency exchange by trading volume, announced its strategic partnership a few days ago with Paxful, a market where cryptocurrencies like Bitcoin can be bought with fiat currencies. The exchange has once again announced Paxful support to expand users’ options for buying cryptocurrencies with fiat.

Exchange Binance announced via its official website a few minutes ago. Any user interested in taking advantage of this service can access the Buy Cryptocurrency page directly. You can then choose the currency you choose to follow by clicking on “Paxful”.

According to the report, any user following that process will be given access to a selection of over 300 payment methods. As soon as the above procedure is cleverly executed, those user’s Binance accounts will automatically be credited with the quota of the purchased digital currency at no extra charge.

What is Binance?

Binance is a global cryptocurrency exchange, providing a platform to trade more than 100 cryptocurrencies. Since the beginning of 2018, Binance has been considered the world’s largest cryptocurrency exchange by trading volume.

In 2005 in Shanghai, CEO Changpeng Zhao previously founded Fusion Systems. This is a company building a high-frequency trading system for brokers. In 2013, he joined Blockchain.info as a third member of the crypto wallet group. He also worked at OKCoin as a CTO for less than a year, a spot trading platform between digital assets and fiat.

In September 2017, the company was founded in China, but later moved servers and headquarters out of China and into Japan before the Chinese government’s ban on cryptocurrency trading. By March 2018 , the company has established an office in Taiwan.