New stories come up in the crypto world with every passing day. Most of these reveal that crypto is not dead. Instead, it is the future of the world finance. These stories also prove that continuous downfall in the values of cryptocurrency cannot stop the craze of the people for it. In order to fulfill the customers’ demands, many companies are introducing innovative applications and services.
Binance, the world’s largest crypto exchange, has offered a new service for traders and customers. It has collaborated with payment processor Simplex to enable customers to purchase cryptocurrencies with the help of credit cards. Simplex is an Israel based payment processing firm.
Changpeng Zhao, CEO of Binance crypto exchange, says that this move will facilitate the traders to buy digital assets in the most secure way. The traders can buy Bitcoin, Ethereum, Litecoin, and Ripple (XRP) through VISA and Master cards. Traders can now start trading in a few minutes because digital assets reach their wallets in a few minutes.
It is also a fact that winter in the crypto world is due to their limited reach. Purchase of cryptocurrency with credit cards will open new horizons of success for crypto world which is at its early stage. Here, it is also worth mentioning that some crypto exchanges are already offering this facility.
Nimrod Lehavi, the CEO and cofounder of Simplex also considers it crucial for wider adoption of cryptocurrencies. Lehavi further says that they are thrilled to partner with Binance to offer payments through credit cards. This is because payments through credit cards are easy and fast.
👉 Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2012! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020. If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.
Earlier this month, Binance CEO stressed the fiat to crypto trading for long term growth of cryptocurrencies. It is also important to note that daily trading volume of the exchange makes it the largest crypto exchange in the world. Despite the winters in crypto world the daily trading volume of the exchange remains around $600 million.
Binance has also stepped in the European market and launched Binance Jersey. This subsidiary is also offering four different trading pairs to buy cryptocurrency with fiat currency.
Talking about the card facility, the official Binance team says that cryptocurrency will reach customers’ wallet in 10-30 minutes. The exchange is providing this facility at minimal cost of 3.5%. Zhao confirms that the fees will further decrease after the addition of some new cryptocurrencies.
Coin telegraph, another world leading crypto exchange, partnered with Simplex to offer the facility of payments through cards. Coin telegraph is also offering support for Bitcoin, Ethereum, and Bitcoin cash.
Binance had launched its own over the counter trading (OCT) desk. The main purpose of the desk was to handle the larger transactions. This desk handles the transactions worth 20BTC or greater nowadays.
Many countries around the world do not allow Simplex to operate in their jurisdictions. Even some states in America have no access to this payment processing firm. Most of the Asian countries including Iran, Iraq, Democratic People’s Republic Korea, China, and Libya do not allow Simplex to operate in their jurisdictions.
Use of debit/credit cards has always remained a controversial issue in the world of cryptocurrency. Many of the top crypto exchanges which once supported their usage have now banned cards. This is because experts associate card usage in cryptocurrency with its illegal usage.
Coin base, one of the renowned crypto exchanges, had banned use of cards in America a year ago. But nowadays, it is offering support for buying cryptocurrency with debit/credit cards.
Banks are also unable to decide their customers to allow or ban card usage for buying crypto assets. There are many banks which have banned the usage of credit/debit cards for buying cryptocurrency. Also, many banks are offering this support for the customers.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More