Binance Users Can Buy Cryptos With Visa Cards Linked To Their Accounts
By RTTNews Staff Writer | Published: 1/2/2020 9:23 AM ET
Cryptocurrency exchange Binance enabled support for the purchase of virtual currencies such as Bitcoin (BTC) directly on Binance.com using Visa credit and debit cards that are linked to their crypto accounts. This purchase option is currently only available for Visa credit and debit cards issued within the European Economic Area.
Users will be able to directly purchase tokens such as BTC, BNB, ETH, and XRP after the Visa card has been added. Binance plans to support Mastercard and additional currencies in the near future.
The exchange is currently covering 31 European countries with this purchase option. They include United Kingdom, Germany, France, Netherlands, Poland, Sweden, Austria, Belgium, Luxembourg, Malta, Spain, Iceland, Liechtenstein and Norway.
Binance has recently provided more purchasing options to its users by partnering fintech firms.
Last month, Binance teamed up with peer-to-peer Bitcoin marketplace Paxful to provide an additional option to its users to buy cryptocurrencies such as Bitcoin using multiple fiat currencies.
Paxful's web-based Virtual Bitcoin Kiosk is being integrated and directly available on the Binance platform for new and existing users. This will enable Binance users to use Paxful's P2P trading network to buy Bitcoin (BTC) with 167 global fiat currencies.
Last September, Binance had entered into a deal with London-based payment processing firm Koinal to add the option to buy cryptocurrencies such as Bitcoin using MasterCard or Visa debit and credit cards.
Koinal's proprietary exchange technology enables purchases via the customer's preferred payment method with the help of fraud monitoring and advanced encryption technology to protect payments.
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In February, Binance had started allowing credit card purchases of major digital currencies, that was banned by some banks in February 2018. It signed an agreement with Israel-based payment processor Simplex to enable purchases with Visa and MasterCard credit cards.
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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.
Article reposted on Markethive by Jeffrey Sloe