Topic: Binance Enables Debit and Credit Card Payments - page 2. (Read 337 times)
Having the option to buy using creditcards is definitely good; even though I've read somewhere that Coinbase is actually cheaper than Binance when buying BTC using fiat. But whatever; good news nontheless. I'm just wondering how they're going to fight back the potential credit card fraud and stuff, also knowing that KYC isn't required on Binance.
That's actually a seriously competitive rate for credit card buys... but it does seem pretty steep for debit purchases (which is cash and not reversible, at least in my jurisdiction). Like you said, though, everyone almost who started offering it eventually stopped. Just not sure how long they will be able to sustain that. Expect chargeback rates to start soaring - and not all will be from malicious customers either. Just the nature of credit purchases.
https://support.binance.com/hc/en-us/articles/360022498052
Binance is thrilled to enable debit and credit card payments for cryptocurrencies through our new partnership with Simplex.
As part of Binance’s larger mission to increase the adoption and mainstream accessibility of crypto, Binancians are now able to use Visa and MasterCard to buy BTC, ETH, LTC and XRP, and start trading on Binance.com within minutes.
To purchase cryptocurrency with a debit or credit card on Binance, please visit: https://www.binance.com/en/creditcard.
Benefits of using a debit or credit card on Binance:
Fast: Average 10-30 mins for cryptocurrency to reach your wallet
Low Fees: only 3.5% per transaction or 10 USD, whichever is higher
Convenient: Visa and MasterCard accepted
To learn more about our partnership with Simplex, read our press release here.
Note: Simplex payment processing is subject to local bank policies. For more information, please refer to the Simplex FAQ here and a list of jurisdictions restricted from using this service here.
Thanks for your support!
Binance Team
2019/01/31
The vast majority of exchanges that at some point accepted credit cards charged very high rates or stopped accepting after a certain period.
I hope Binance will not make either of these two cases. And that this new service helps to reverse the price with more fiat in the market.
Binance is thrilled to enable debit and credit card payments for cryptocurrencies through our new partnership with Simplex.
As part of Binance’s larger mission to increase the adoption and mainstream accessibility of crypto, Binancians are now able to use Visa and MasterCard to buy BTC, ETH, LTC and XRP, and start trading on Binance.com within minutes.
To purchase cryptocurrency with a debit or credit card on Binance, please visit: https://www.binance.com/en/creditcard.
Benefits of using a debit or credit card on Binance:
Fast: Average 10-30 mins for cryptocurrency to reach your wallet
Low Fees: only 3.5% per transaction or 10 USD, whichever is higher
Convenient: Visa and MasterCard accepted
To learn more about our partnership with Simplex, read our press release here.
Note: Simplex payment processing is subject to local bank policies. For more information, please refer to the Simplex FAQ here and a list of jurisdictions restricted from using this service here.
Thanks for your support!
Binance Team
2019/01/31
The vast majority of exchanges that at some point accepted credit cards charged very high rates or stopped accepting after a certain period.
I hope Binance will not make either of these two cases. And that this new service helps to reverse the price with more fiat in the market.
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