The company expects to continue increasing the exchange flow by adding this new payment tool, which is already available on its platform

The global cryptocurrency exchange platform, Binance, thinks in its customers. It recently enabled the option of buying cryptocurrencies through the use of credit cards. This was announced by the platform on its official website, last Thursday, January 31st.

The company with the highest movements of cryptocurrencies exchange has improved its platform to offer its customers an option in which they can make the purchase of some types of cryptoactives, using credit cards like Visa or Master Card.

According to company spokespersons, the main intention is to improve the customer’s experience, expand its sales system and optimize the transaction platform. Allowing the purchase of digital assets is one of the main goals the company set for this year.

In the company’s official statement it was informed that the payment platform will allow buying only four types of cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and XRP. However, the letter explains that the client has the option to exchange these assets for any of the more than 150 cryptocurrencies Binance offers through its platform.

“As part of Binance’s larger mission, which is about increasing the adoption and widespread accessibility of cryptos, Binancians can now use Visa and MasterCard to buy BTC, ETH, LTC, and XRP, and start trading on in a matter of minutes”, says part of the writing.

Binance partnered with an Israeli startup company called Simplex, in order to adapt its platform to receive payments in the new modality. Simplex is a payment processing company which will allow a key adaptation in the new Binance payment platform.

It is announced that the platform enabled for the processing of the payment will adapt to the waiting times. This particularity will allow the exchange in the shortest possible time, due to the dynamism in the different digital markets.

The company has placed special emphasis on the processing times of the purchase. Workers of this company mentioned that, once the transaction has been completed, the waiting time for the cryptocurrencies to be reflected in the wallet is approximately 10 to 30 minutes. The commission for the transaction is 3 to 3.5%, depending on the flow and size of the purchase.

Changpeng Zhao, CEO of the company, spoke about the progress of Binance’s platform. During an interview, the expert explained that the crypto market is in full growth and these advances are just the beginning of many more possibilities that will bring the near future.

“The cryptography industry is still in its early stages and most of the money in the world is still in conditions. What we need now is to build fiat gateways to grow the ecosystem, increase adoption and introduce cryptography to more users”, Zhao concluded.

On some exceptions, the statement explains that this service will not be available to clients in countries such as Iraq, Afghanistan, Cuba, Congo, North Korea, Eritrea, Iran, Cote d’Ivoire, Sudan, Lebanon, Kyrgyzstan, and Libya. At the moment, customers operating in some areas of the United States, such as Washington, Connecticut, Hawaii, Georgia, New York, and New Mexico, are also excluded. The crypto-community expects to know when citizens of these regions will receive this advantage.

By María Rodríguez


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