Binance users will now be able to use their credit cards to purchase cryptocurrency such as Bitcoin or Ethereum.
The crypto-to-crypto exchange has joined forces with a third party to enable consumers to make credit card purchases directly on its platform.
Users will be able to purchase BTC, ETH, LTC and XRP, but not XLM and NEO, as earlier versions of the original press release had indicated.
According to CoinMarketCap, Binance is the number one cryptocurrency exchange per trading volume, currently processing over $650 million in trades every day.
Today’s news comes months after Binance – which was founded in China in 2017 and is now based in Malta – launched two fiat-to-crypto exchanges to allow users to trade Euros, British Pounds, and Ugandan Shillings with cryptocurrency.
Purchasing cryptocurrency with a credit card has proved a difficult service to keep in the past. Coinbase disabled the option to enable its US customers to use credit cards to buy digital assets in February last year.
The decision was made after some credit card companies said they would prohibit the use of their cards for this purpose. Coinbase’s US customers are still able to make purchases using their bank account, debit cards, and wire transfers.
Published January 31, 2019 — 12:13 UTC