Binance Customers Can Now Buy Five Cryptos Using Debit Or Credit Cards
September 25, 2019 8:28 pm
The major cryptocurrency exchange Binance is now allowing its customers to purchase digital currencies using debit and credit cards via Koinal, a payment processing firm. The exchange has recently announced the facility through a blog post.
Through Koinal, customers can buy cryptos such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The payment processing company charges 2.5% per transaction, with the purchased assets which can take five to 20 minutes to reach a Binance wallet.
Binance noted that the service will not be available in a wide list of countries and regions as the Koinal payment processing is subject to local bank policies. Koinal does not support bank cards issued within Mainland China, Russia, the United States, Vietnam, Bolivia, Colombia, Ecuador, Algeria, Bangladesh, Indonesia, Jordan, Kyrgyzstan, Morocco, Nepal, Saudi Arabia, Iran, Pakistan, Taiwan, and Cambodia.
Changpeng Zhao, CEO at Binance said:
“Freedom to convert easily between fiat and cryptocurrency is key to bringing crypto further mainstream. As the blockchain industry matures, there is more demand to bridge the two worlds than ever before.”