Binance To Add "USD To Crypto" Trading Pairs Soon

[sunX3]

"Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro. Before, people had to purchase Bitcoin from other exchanges and then move it into Binance to purchase altcoins."

Source - http://thebitplex.com/2018/03/23/binance-malta/

Assuming everything goes well, do you think this will kill coinbase or tether? Thoughts?

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[VenturaBro]

Think this is great news, of course, it will depend on how fast the transactions will be and so on but definitely a step in the right direction for the future.

[Dluretic]

I think this is a good news, then binance exchanges will become truly international No1 exchange, because it not only has the largest trading volume, and the exchange to support the legal currency prepaid recharge.

[bigcash2011]

Im not sure if it will kill coinbase and other similar services but it will definitely make buying cryptos very easy for the common man and we will see mass adoption of crypto currencies in coming years.

[ciciliacrypto]

binance keeps moving  and innovating different ways for crypto acceptance,there approach to crypto makes them a platform to watch out for. nice move ! this diversification might up there stocks.

[EugeneReigns]

It's a great news and I am thinking Binance, as one of the leading "players" in this sphere, is now doing important steps that the other exchanges will have to do in the future anyway if they want to have customers and remain in demand.

[Philz69]

Pretty great, should help people who are new to Crypto.

[Beerwizzard]

The best thing that comes out of this update is that all crypto / fiat trading will be less connected with Tether and all their problems will stop creating so much FUD around the markets. What's about the other things  then it is not yet clear how it will work. I really hope that they won't  force users to pass through several verification tear and make users print and sign their papers (as it works on Binance). It will be also a great thing if they allow funding / withraw funds via anything excapt bank transfers.

[tomahawk9]

Assuming everything goes well, do you think this will kill coinbase or tether? Thoughts?

If they can do instant transfers then Coinbase will be in serious troubles. The thing is, even though the news sound bullish, Malta has a bit of a bad reputation (corruption and laundering), this move could potentially hurt the cryptocurrency credibility that the market needs. And It'll be interesting to see if the US bank allow their customers to make transfer on Binance (given how strict the US regulations are, and Malta being a tax haven).

[Dutchyyy]

This is great!

So they will support SEPA withdraws? I hate Kraken and their customer support and I will gladly move completely to Binance!

[Lieldoryn]

That's very good news. But I'm wondering what restrictions will apply to accounts from different countries. If these restrictions are reduced to a minimum, I am sure that this will make the exchange one of the most popular in the world and significantly increase the volume of trading. I hope it's not fake.

[htsz_da12]

If true, it is a kind of encryption admit, because that way more and more people can buy directly to the encrypted, without the need to convert them into usdt, I always think it's so trouble.

[jhenfelipe]

The thought of purchasing crypto directly with USD maybe good, but we don't know yet how would they implement it. If you're willing to use it regardless of the process, then it's okay, else you'll wait and see first. Anyway, we don't know when is "soon" so...

[Raist]

Binance’s operations has moved to Malta, a friendly island nation in the European Union. Binance’s headquarters are in Hong Kong, but they have always wanted to move out. China has unpredictable cryptocurrency regulations, so Binance wanted to find a new permanent base. They applied to move to Japan, but after the Japanese Financial Services Agency issued a warning to the exchange, they decided to move to Malta.

That will give a lot of good food for the conspiracy theory adepts. Malta.

[patz22]

Great news! Way to go for Binance on keeps on improving and making our lives easier. This will definitely help up us a lot to remove or lessen the fees whenever we purchase crypto to other exchange and transfer to the other. It might have an issue since it is fiat that is being regulated by government but still this will work for us.  Hope to see this soon.

[cryptoamumu]

This could cause people to leave coinbase and use binance to convert crypto to usd because coinbase has already send info to the IRS for some traders. But I expect large transaction/transfer fees when you convert to USD and transfer money out to a bank account. So in the future, if people want to sell their coins for usd and don't want their info going to the IRS, they will use Binance. And people who don't want to pay huge fees will continue to use coinbase.  

[xiaoxz]

"Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro. Before, people had to purchase Bitcoin from other exchanges and then move it into Binance to purchase altcoins."

Source - http://thebitplex.com/2018/03/23/binance-malta/

Assuming everything goes well, do you think this will kill coinbase or tether? Thoughts?

If this is the case, I believe binance's trading volume will become very scary, and I think it is really possible to kill coinbase and tether.
After all, the strength of binance is still very powerful, and if people can use the fiat who would like to use usdt?

[waynechong1995]

Not sure how complicated the process will be for binance but its a good news anymore, BNB is kinda strengthen these days from this particular news and we hope to see more updates from them.

[coinpricetoday]

That is very big news and it will help a lot of user to buy cryptocoins directly from usd.

But this may impact btc as well

[sedahan13]

I hope this is can be reality soon because i prefer to trade crypto paired with USD. At the moment i trade on Binance only in pair USDT and i also used exchange of gate.io to trade others coins with USDT. But in Binance has more liquidity because the volume bigger.