As the largest broker in terms of volume of operations, Binance now accepts credit cards for the purchase of crypto-coins. The novelty was made possible through a partnership between exchange and Israeli payment processor Simplex. Thus, customers of the company can use the Visa and Mastercard to acquire these assets.
At first, users can buy bitcoin, ether, litecoin, and ripple. With these assets in the portfolio, customers can later acquire 151 other crypto-coins and tokens offered on the platform. However, the option will not be present in the following countries: Iraq, Cuba, Afghanistan, and Libya. The bank also excluded some US states: Connecticut, Hawaii, Georgia, New York, New Mexico, and Washington.
The down side is that Simplex will charge a 3.5% commission on top of transactions, with a minimum limit of $ 10. The daily limit for purchases is $ 20,000 and the maximum, $ 50,000.
Cryptomeds in everyday life
It is undoubtedly good news that Binance is taking credit card operations. It is not the first to give customers that possibility, but the fact that it is the largest in terms of volume of transactions has a weight. It is is another step that the crypto-currency market is leading to greater acceptance and incorporation into people’s daily lives.