Binance, the leading cryptocurrency exchange has just made it easier for users to buy cryptocurrencies. Recently, it had added support for credit card crypto purchases, thanks to its new partnership with the Israel-based payments processing firm Simplex. According to the recent press release, this will enable users to purchase using Visa and MasterCard credit cards.
As reported by CoinMarketCap, Binance is the number one cryptocurrency exchange worldwide per trading volume. It’s currently processing over $650 million in trades every day.
About this new partnership, the CEO of Binance, Changpeng Zhao, stated that the firm “want[s] to provide Binance traders with fast and easy access to crypto, in the most secure way possible.” Zhao continued explaining that “the crypto industry is still in its early stages and most of the world’s money is still in fiat,” which, according to him, is the reason why fiat gateways are important for the growth of the ecosystem. According to him, the clients of the exchange can purchase digital assets with credit cards and start trading immediately.
On the other hand, the co-founder and CEO of Simplex; Nimrod Lehavi, said that for mainstream users, easy and fast credit card payments are “a key factor in wider adoption of crypto in general.”
According to the press release, Binancians are, now, able to use Visa and MasterCard cards to purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP).
Today’s news comes months after Binance launched two fiat-to-crypto exchanges to allow users to trade Euros, British Pounds, and even Ugandan Shillings with cryptocurrency.