Bitcoin Forum

Binance Launch Fiat Support in South Africa!

CEO of Binance announced the launch of the Fiat gateway allowing the South African Users to make rand deposits.

“Looking at South African specifically, crypto adoption continues to rise with SA being one of the top five countries in terms of cryptocurrency ownership. Today I’m excited to announce that Binance is launching a South African fiat-to-crypto gateway soon. This will enable South Africans to buy cryptocurrencies with their local bank accounts.”

Binance also donated 1M$ to bitcoin education to support the development of blockchain education in South Africa, The organization also getting ready to run educational program soon.

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In the past weeks Binance also launch:

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Binance and WazirX’s launch $50M “Blockchain for India”

Looks like Binance is setting it up again in India we know that India is already behind compared to the other countries when it comes to Binance.
Still, I think Binance is doing a really great job as it continues to influence a lot of countries and implement their exchange and technology. It would not be surprising if the Binance could become the top exchange for some websites in the future.

With his statement:

Let’s invest in India. I foresee many other blockchain companies following our footsteps.
-Binance CEO Changpeng “CZ” Zhao said:

https://i.imgur.com/PENmHz6.jpg

Source:
https://www.fxstreet.com/cryptocurrencies/news/binance-and-wazirxs-launch-50m-blockchain-for-india-fund-202003190138

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There is no company in the space that has done well for the space in the last one year than Binance, Binance also is the only exchange that is well prepared for the coming bull run. I love it when a CEO said something and walk the talk, He always said we build and there is proof to show that are building even to me more than enough

There should be more offers like this in other parts of the globe. Blockchain technology is not very familiar in Southeast Asia. So we expect some more education projects in this part of the globe. I know blockchain is still illegal in most of the South Asian region and I think this is because of the ignorance about blockchain in the people of this part.

They did the same with Nigeria by supporting Naira fiat with pairing with BUSD. I think Binance has consistently supported many individuals in different countries and they are at the forefront of making it possible for anyone to buy their local fiat directly. Just a few days ago, they announce the support of buying bitcoin instantly with visa credit and debit cards. All these are what make them the best exchange in crypto space.

Binance is the pioneer of user centric exchanges. They redefined what users could expect from an exchange and best of all, they are not here just to increase their monopoly. They are participating in different projects that are non-profit or even promotes their competitors. BinanceDEX has popularized some new functions and they have a huge contribution, arguably the largest one from an enterprise in the field of crypto adoption, advertising and promotion.

Good work Changpeng Zhao! Binance has a very good future because Binance doesn't provide any one services. If fait to crypto gate way open soon than it will another exiting news as India lifts crypto banned. This kind of news slowly affect on cryptocurrency when coronavirus is doing magnet backward. India did another work lifted banned from cryptocurrency.

Binance continued to merge fiat currencies with cryptocurrenies. they have been introducing fiat currencies into their exchange platform as a way of allowing citizens of a particular country deposit and withdraw even exchange fiat with cryptocurrencies. it is a commendable one. south Africans can now buy and sell Cryptocurrenies directly from one of the most trusted exchanges in the world.
thank you Binance for accepting the south African Rand in its platform.

Great concept. I did not heard like this before. Once the organisation will start the educational program in the South Africa, another positive thinking will also start about crypto currency and blockchain.
If the biggest crypto platforms will start to follow this way and start such educational programs in different countries then we can see a blockchain depended world in near future.
  

binance company is really leading in crypto world, not only about exchange, they always build something new, and try to support in worldwide. why binance is great?
here is why https://www.binance.com/en/blog/300181937986265088/10-for-10-How-the-Binance-Ecosystem-Drives-BNB-to-Top-10

i believe binance will be support another gateway FIAT currency soon.

Binance is a great exchange with a great vision, they are spending money moving from one state in Nigeria to another state targeting majorly University student. Luno should have been doing what binance is doing now, but they were brutal with fees. Immediately they enabled fiat gateway for Naira, I dump Luno till  date because of bad fees.

You are absolutely right! The CEO is one of the best guys in the whole crypto space. An honest and on target guy who respects his own word! Binance has added HK, KRW, NGR and so many country's native money and they are expanding it more! I have been following him since 2017 with turned on notification!

Talking about a platform that is leading the race in adoption of cryotocurrency them you need to give it to binance. They always know what to do and how to find their way to do it. This is one of the  thing that separates them from others.

This is a great addition to towards supporting crypto and I really wish they expand similar facilities to other countries as well where crypto does not have much support nor much restrictions as this will greatly help to pool in more users to crypto space because most of the users wants to be a part of crypto world they cannot directly buy crypto using their fiat and have to user modes like localbitcoin.com and all.

Binance is really helping adoption by offering these local deposit and withdrawal options, i think as binance keeps on providing this service in more countries it will become easy for common people to enter crypto market and these are really game changing and practical services from binance that i really praise.

We all have to admit that binance is doing well and is moving crypto currency definitely to the next level.
Just about 10-14 days ago, we were dicsussing binance effects on the reversed crypto ban on indians, and now today i see binance supports for south africa fiats.

Binance probably now has fiat support for over 15 countries if am right, thats moving crypto currency in the right direction

Binance is keen to see a growing market and they must have seen that this is the right time to enter the African market through South Africa. Entering with capital support and big names, surely this binance program will be welcomed by the South African market

Binance is a name of an exchange right? What makes binance this great? The team right? That's my point, this is for everyone who still thinks otherwise in crypto space, it's not always about the names, it's all about the capability of the team, I respect binance CEO, he has no limit

Bnb token is the best investment since launch, it's never too late to join but I congrats those who jumped in right from the start, ICO price was way cheaper and look how far it has come, thanks to the team anyways, we need strong teams in crypto space but fake promises projects

Looks like Binance is seriously helping out some countries to get involved more in cryptocurrency. This isnt a bad move but other exchange might think of Binance imposing such agenda on these countries. But for me, I like Binance doing cause not only they add financial support but showing how they wanted to help others to be educated about blockchain and cryptocurrency.

Indeed because we need more help from exchange and other areas of cryptocurrency,we must be supported like what Binance is doing right now.
There so many Good deeds that Binance giving the community and no wonder why they are becoming the best exchange of our time.
Lucky those who bought from the ICO because they are in profit now and still crypto space has lots of scammers and we must eliminate those for the market to continue profiting.

I have to commend Binance for making good things in many country and now developing a technology like this in South Africa is one of the best. Binance keeps on developing new things and travelling all over the world, its not just an exchange now but a real competitor in the market. I hope many coins and crypto company to do the same this, this is for the better world, I believe Binance will climb high on the next up trend.

The best exchange that's currently working on bringing mass adoption to crypto is binance, I don't know about the rest but binance is killing it with everything they got, tell me how BNB token won't make it to three figure soon? The team are the best and they know just what to do

I wish every new projects coming into crypto space are filled with dedicated teams like binance team, I respect binance team and CEO they know exactly what they need to do, the CEO even helped the coronavirus issue in china, these guys want the best for crypto currency

@Asuspawer09 this is great news for the crypto market, and Zhao is absolutely correct as many people from South Africa love to own crypto’s, and this shall only make it easier for them to buy and hodl crypto’s in a reputed exchange. Though I’m not sure how he plans to do it in Hong Kong as the Chinese government doesn’t like crypto exchanges out there, hence it’ll be interesting to see how Binance HK operations will go.

Sources:

https://cryptobriefing.com/south-africa-crypto/

https://www.reuters.com/article/us-hongkong-regulator-crypto/hong-kong-watchdog-to-publish-new-crypto-exchange-regulations-idUSKBN1XG0OL

Crypto space would definitely be a successful haven if all CEO is like binance CEO, that man is very capable and always want to grow more, the zeal is in him, too many crap projects in crypto space makes new investors wannabe lose interest

Binance has shown a great positivity in the crypto system. The platform is one that I really admire so much and hope they hold on to their system of operations. With the way Binance is going creating more fiat gateways for countries, there's no doubt this will be very influential in the crypto adoption of those countries.

Great initiative move by binance helping out people of africa in order to educate them about blockchain technology. Sure it will be a big help knowing that south africa has large community base. By opening more gateways in different countries it would create more opportunities not only for start up projects but also for binance which would gain more exposure in crypto scene..

Kudos to the CEO of binance, He has really taught so many what a cryptocurrency exchange should be . He has introduce fiat pairs of some countries making it interesting for those from those region to trade happily, now it's south Africa,this is nice,it will bring more of the south Africans into the Blockchain and so increase adoption.

it is one of the efforts to increase crypto adoption. binance does it and of course, this will affect the adoption of BNB also in the market. not specifically but this is an effort to strengthen the community from binance exchange.

Binance has always been a very progressive exchange that is trying not only to make money but also to help popularize cryptocurrencies around the world. educational programs are proof of this. but now the most important question for everyone is what will happen next with the cryptocurrency market. Will it die or will survive?

This is my personal opinion. You can agree or not. The current crisis has proven that cryptocurrencies are not the choice of investors; investors are more comfortable choosing gold. Cryptocurrencies must take the initiative of large-scale adoption to survive in this world.

I'm afraid you're totally right on this one but i dont think we should be surprise with the new features usually created by the exchange because CZ once work at Tokyo Stock Exchange etc as software developer of futures trading which is the reason it easy for him to use his previous experience to implemented something outstanding.

Yeah. never seen a good exchange than this, you know things are better when it is in binance compared to other exchange coz the CEO is really responsible and accountable plus the admiration for cryptocurrency is at its finest. This is will offer a huge help to the targeted areas like south Africa. There is really no doubt why binance is the greatest at the moment.

Also the BNB coin outperformed many coin that is sitting for almost a year having a huge step taking the spotlight and caught the attention of investors.

I don't know why many people are calling binance CEO a greedy type, he is doing all he can for crypto adoption to go higher, binance is one of the best exchange in crypto space today the team deserves some respect

at least the Binance exchange place developers have good innovations to make the exchange place always developing and more and more people are familiar with it because we know very few developers do that, the exchange place must have strong support from the team and the developers to be able to create the best and most comfortable exchange places like Binance exchange place.

The constant innovations being added to binance is what makes it the best cryptocurrency exchange available in the market, i really commend the various brain behind those beautiful innovations. The exchange is already a giant but still,  they keeping pushing for more adoption but of recent, the adoption is not centered on just their exchange alone but the entire cryptocurrency market.  Incorporation of FIAT gateway and pairs are among the various ways of bringing cryptocurrency to daily usage. Binance To The Moon.

binance is an exchange project with the best development this year, I think, and also offers its customers various events. Then it hosts a charity event and helps educate people in Africa. I think this is a noble goal.

Binance is the best exchange and I regret not joining the train very early but the exchange is so successful today because of the team and CEO, they are very hard-working people, I hope many upcoming projects will learn from binance team, nothing can stop them right now

This is another proof that Binance exchange really means business when it comes to being at the top of crypto exchanges. The exchange keeps advancing while looking for more opportunities to rule the world of exchanges and they are really doing well. With this step, Binance is bringing cryptocurrencies to everyone wherein it will be possible for all and sundry to easily get hold of any cryptocurrencies they want, thus one won't be mistaken for saying the exchange is setting the path to cryptocurrency adoption. Lastly by donating to help spread the knowledge of blockchain and cryptocurrencies is a good step as it will make people understand what really lies within the crypto space thus helping them make the right decisions.

cz surely knows how to play his game and secure his position as one of top exchange in crypto today, binance knows how to expand customer base, one of the reason i like binance a lot and why many people also like it, they think ahead of other exchanges, SA are lucky to have this opportunity to now trade in binance directly using their local bank, this is very good, the way they are carrying on, in no time many countries will have access to buy in binance with their local currency, kudos to binance.

The Binance exchange is constantly evolving and making incredible discoveries and achievements and is very actively trying to develop cryptocurrency sphere and thereby attract a lot of attention to itself from big investors and this helps the Binance very much in development.

I can't say a negative thing about this project, it's always giving us a positive news, and as a holder, it makes me more confident despite of what we are going through now. For those who missed BNB when it was cheap, maybe you should consider buying it now.

China had been helping poor countries in africa for years by providing them buildings and uplift their economy, their government I believe has good intention but for Binance to come and put more money, its something to wonder. Binance is a big business, its definitely for profit. They are not just throwing away billions of USD for nothing.

Binance do regular activities for the development of cryptocurrency. The recent announcement for launch of the  Fiat gateway in the South Africa is a milestone in Africa because from this point, people of South Africa and Africa also will be able to come closer with cryptocurrency and people can buy cryptolcurrency with their local currencies using bank.

They have a very big vision and we can see that on the updates that they are rolling out.

Binance has slowly become a bank by adding fiat transactions on their platform, probably the most active exchange in the market, and that's the reason why they dominate and they got the trust and confidence of the people. I am a long term binance exchange user and I am also invested on the BNB coin.

Since the Creation of Binance in 2017 they have never ceased to top the in the exchange market in the Cryptocurrency world, their strategic innovational development and easy-to-use aspect is a major advantage over other exchange platform.
Just few days of research about Binance and am fully satisfied with the result being the best exchange as they seem to add new features helpful enough for easy trading and exchange.

That 1 Million dollar donation in order to educate the people around SA to know deeper about blockchain technology. This really a very good gestures from this company encouraging more people to use this services and open the bridge between SA fiat to crypto industry.
More developments like this will results to a much bigger chances of success, SA will soon to be another place who embraces cryptocurrencies.

I think this will also be beneficial for media promotions that can increase users from binance. because indirectly that opens the way for transactions there is binance then for them to get wages through cryptocurrency they have to buy and use binance coins. this will increase the number of binance transactions which will also make the price of binance go up.

I'm adding this :

Binance Lending just added Bitcoin Cash for the users to get flexible deposits letting users earn a interest on Bitcoin Cash,
Bitcoin Cash is already a popular altcoin in the market and Binance just added support for bitcoin cash on its lending platform. The limit on an individual on the Binance lending platform was 1,000,000 BCH.

https://i.imgur.com/RK4CCyd.png

Read more Here:
https://news.bitcoin.com/binance-lending-bitcoin-cash/

The promotional purpose will always there as people will be familiar with binance and those that will be getting beneficial from this will try to put binance on their minds as the best exchange site that can be used. Binance is always making a very good movement without need a lot of money. That looks very different with those garbage projects that wasted multi million dollars of money.

You already judged it. Remember when Binance donated some on the wildfire bush event on Australia? I think thats purely charity. Dont judge them. I know it may sound like they are after something or profits but at least they showcase first an act of camaraderie.

Im not saying there is no greater negotiation with this move but as I read the news, somehow both parties can benefited from it in the long run. Its not a one sided affair.

This dude has been doing these great things and improving binance to whole another level constantly but I also fear that they might be growing too big. I wonder what their exit strategy is and if they have any. Looking at it from a startup stand point, these dudes opened a website, that's it, it is a business of course but the business is based on a website with many things behind it obviously.

So, maybe one day some big huge american wall street company goes out and says "here take this 50 billion and sell it to us", how do we know they won't accept it? They really might accept it, don't know if that company will continue to be good or will be like satoshidice that sold for tens of thousands of bitcoin to become nothing but in the end that exit would hurt crypto communities.

Binance is really coming up with new innovative ideas every day, this is a great news for South Africans. Traders would soon be able to make deposits on the platform through binance website, crypto adoption continues to rise as South Africa is one of the top countries in terms. Well this will enable them to buy crypto currency with their local bank account.

We can definitely see how the global exchange of binance is developing qualitatively. I can’t imagine the best exchange yet. But of course I would like to see a higher level of liquidity at Binance.

The Binance team always reads the marketing opportunities very well, it's no wonder that Binance can grow and be as popular as this. South Africa, including a potential market, there are no strict regulations related to crypto there, besides that most of the startups in the African continent originated from South Africa, this proves that understanding fintech there is developing well. Thank you, OP for providing this important information.

Why are so many people kissing binance's ass for donating a measly 1M? I guess Bill Gates is their God since hes donated at the very least 50 billion bucks to help the poor.

When I was told that Binance provides such service for my country, i was so glad.so glad, because it used to be a serious challenged when converting my crypto to fiat.
If Binance could do this for South Africa, it means they can take it to other parts of the world. The exchange is already a world-class exchange, meant to serve every part of the world. Some other exchanges might have been looking for an opportunity like this, but none is forthcoming.

true, binance always provides new services for the convenience of people to make transactions and they always develop their services not to mention many traders there who make transactions and their volume is also quite high compared to existing markets

   I would say that Binance covered all. New service, promotion, big changes, all that is followed by a marketing. They thought about
everything, and that is the reason why they are number 1 crypto-exchange.
   I agree with you that investing in Binance is a great idea, it was a great idea and it still is. I invested in Binance long time ago, and
from time to time I try to add more BNB to my portfolio whenever I can.

That is why binance still trying to give the best services to their members because they want to be the biggest exchange than the other exchanges. We can see that so far, binance can compete with the other exchanges, and they can be one of the recommended exchanges which every people can use. Without forcing people to complete KYC, that will be a big point for binance while the other exchanges apply that for their members. They know how to treat their member's, so that makes many people trust in binance.

a convenience that has been made binance is an unexpected fortune and can make it easier to make transactions into fiat is a progress that is awaited in every country of course. But there may be unknown predictions why South Africa is a priority. but this might reach other countries if possible, because usually developed countries already have companies that can exchange directly into fiat.

I am not at all surprised by this expansion of Binance into the South African market. This is a planned expansion of its work from the Asian market around the world. A little earlier, we saw this development in Binance work with national currencies  Russia and Ukraine.

They got big money and they know what traders and people are. They know majority of crypto users love bonuses and love competition and free giveaways. They know how to manage reputation by apologizing when the community is angry (like with Steemit) and giving money when hacks happen.

That is good marketing.

Binance and WazirX’s launch $50M “Blockchain for India”

Looks like Binance is setting it up again in India we know that India is already behind compared to the other countries when it comes to Binance.
Still, I think Binance is doing a really great job as it continues to influence a lot of countries and implement their exchange and technology. It would not be surprising if the Binance could become the top exchange for some websites in the future.

With his statement:

Let’s invest in India. I foresee many other blockchain companies following our footsteps.
-Binance CEO Changpeng “CZ” Zhao said:

https://i.imgur.com/PENmHz6.jpg

Source:
https://www.fxstreet.com/cryptocurrencies/news/binance-and-wazirxs-launch-50m-blockchain-for-india-fund-202003190138

Yes, I think this is possible by Binance to expand the blockchain network. The introduction of blockchain is indeed an easy thing, but it makes people believe and want to use this new system that is difficult to accept. By providing education in advance about the blockchain to all African communities under official institutions. Then the use of the blockchain system will be easily accepted. This is Binance CEO's smart strategy in introducing their blockchain.

Day by day, you can see the great improvement of Binance Exchange they totally see their strong support in blockchain technologies. By just showing this news about Binance, you can simply say that they totally belong to the top-performing trading platform. Improving their system and adding more features is one the thing that traders and investors want. Aside from having a good exchange, they also provide giveaways for the traders who use their trading platform. It is not surprising that people trust this exchange, Binance keeps on improving their system to make sure that they are providing better service on users. Who knows that after many years all the country will support this exchange and, this Binance will become the top 1 global crypto exchange in the world.

To the OP, kindly update us for more good news/announcements of the Binance Exchange.

They fully understand how to work with all kinds of traders, they practice good business and from how they've seen the potentials. Binance marketing teams practice well and communicate with good conscience to attract more people to follow them and support them from this quest that they are now working right now.

Nothing in the world of cryptocurrency is permanent. Back in 2013, Mt Gox used to hold more than 50% of the market share in cryptocurrency trading (even at its peak, Binance was nowhere near this level). But that didn't prevented that exchange from getting liquidated, all of a sudden. Binance is a giant as far as cryptocurrency exchanges are concerned. But we should never underestimate the risk factors.

Binance team always find something new to add up to their reputation, they aim to go higher and that's why the team have my full respect, I'm impressed, exchange tokens can only be profitable if the team is very capable

Hmm you are very correct, anything can happen in this crypto space so we shouldn't rely 100% on any project no matter how good they are, if one follow the rules of crypto that never to invest what you can afford to lose then they will be fine

Just make sure that your portfolio is always safe, not stored in exchanges.
Even with BNB, you'll never know what will happen in the future.
And nothing wrong with investing in BNB, as long as you know the risk involved.
It's all on you and not anyone around you.

Really Binance CEO keeps making some CEOs think twice if they are really CEOs. When a CEO cares about the platform's growth it does not only make the platform worthwhile but it also makes the platform one of the best if not the best; this is just the simple case study of Binance exchange. Since this year, the exchange has opened more fiat gateway for more countries, that is to say, the Binance in reality is making cryptocurrencies easily reachable for everyone. I think there is more to be expected from Binance and its team.

I am also amaze with what is Binance doing so far, every year if I am not mistaken, they have some exciting development that will help in the adoption of crypto, they are doing it right as an exchange as everyone has to exchange bitcoin into fiat in order for them to easily access on crypto.

I am certain that Binance is the future of exchange, and not only that, they will be the best coin in the market and I would not be surprise if soon BNB will rise in the top 3 ranking overtime.

Binance Donated $2.4M in Coronavirus Medical Supplies

Looks like the Binance is doing a move again to fight the coronavirus, donating 2.4M$ for medical supplies including PPE. The Binance CEO said that this supply is shipping to a hospital that needs it.
They are also planning to ship it to Italy this week and then help the USA, hopefully they could recover since there are already so many cases in their country.

https://i.imgur.com/w51Ie9l.png

Source:
https://www.coindesk.com/binance-donated-2-4m-in-coronavirus-medical-supplies-cz-pledges-more

At this point perhaps, its time to call binance the pace setters of crypto currency in terms of exchange platform and overall wellbeing of crypto currency traders.
And to be frank, no other exchange platform comes close to binance, the joint ownership with coinmarketcap just enlarged binance reach and might in the crypto space.

Binance brought so many things in the industry, I wonder what would be like without Binance, he push the industry and the community to another level and we should be grateful and acknowledge that Binance is the number one exchange in the industry and not these other exchanges that faked their volume to attract traders.

We have so many major exchange sites but there are only some that really active to push the crypto to get more adoption. Binance is also having the main target too. If crypto can be passively accepted in the world and binance could be the same as the biggest industry like apple, samsung or something else.

Whatever binance CEO plans, I think all are oriented towards the progress of their platforms and the acceptance of crypto in the future. binance is an exchange platform that we can say is successful today when there are many new exchange platforms with several updates, binance can still follow updates and make them always on top and not lose their traders.

There it is, every single new and old developers out on this crypto space should look and binance team and learn, they are really killing it with everything they got, why can't other devs be like binance team?

We just need to give it to Binance, No other exchange does or come close to what they are offering, I know some people would say what they are doing is not good long term because it create monopoly. What prevent the likes of CoinBase and co to do the same thing, because these are business model that can easily be replicated.

It crossed the red line and the consequences of centralization will be big for the small exchanges. The central exchange idea is boring as I know from the stock trading and seeing the same trend in the crypto industry is not good. New exchanges should improve service quality and join the revolution ASAP.

They are setting the pace for every other exchange.
They are acting as a role model for them, trying to show them what should be done.
If they want to know how it is done., they should just lower their ego and learn from Binance.
 ;D
I respect CZ Binance for this and I give the best exchange service to Binance.
I am not saying this just because of what others have said, but because I have also experienced it.

Binance is the only platform or project int he crypto sphere that is making rapid progress in many aspects of crypto world, recent acquisition of biggest coin data platform cmc just shows its passion and determination to own crypto space, while we are praising binance we should also hope for good competition for binance in future otherwise binance can create its monoply and can dictate many things in crypto sphere.

I can't help but commend the efoort of the various brain behind binance exchange, those guys are folk hero to the crypto space. With thevarious innovations and progress they are adding to this space and their service with each passing day, i can confidently say they are setting a new form of standard that will pioneer the massive adoption of cryptocurrency by the outside world. No availability of FIAT GATEWAYS have been the problem preventing mass crypto adoption for quite sometimes now as new potential investors are always scared of going through the rigorous exercise involved with the former ways of converting bitcoint to real money and vice versa. With this innovation, I'm sure even the commonest individuals in South Africa will be able to switch within their FIAT and CRYPTOCURRENCY