Binance about to offer Fiat-Crypto Trading.

[tranthetai]

The plans to open an exchange on the territory of Malta cane earlier this year, in March. The exchange was forced to make this plan after Japan's regulators and financial authorities warned it about not being properly registered. This new development came after Japan's decision to make crypto regulations even more strict. The result includes the necessity for all crypto exchanges to obtain a special license, which is something that foreign exchanges have a hard time to accomplish.

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[Thirdspace]

if binance starts fiat/crypto trading then most likely they will also start allowing fiat deposit/withdrawal
and when that happens, to follow regulations they would start complying with KYC and AML rules
so... they will make user verification as mandatory am I right?
if you don't like the idea of KYC stuff, withdraw your cryptos out of binance now

[Camorra Dev]

It would be really so much more comfortable than it is right now because for now if you sell your tokens in exchange to bitcoin and then you need to move your bitcoin into another exchange to sell it to Fiat.

[crypki21]

Yeah, that would be great. When I first wanted to try trading crypto and invest some money into it, I found that very annoying that I cannot do that like buying something from my card or paying into some online casino. As cryptocurrencies are supposed to make payments easier it would be nice to easily change fiat to crypto.

[Siren]

This would really be great if it happens, don't you think?

https://cointelegraph.com/news/exclusive-world-s-top-crypto-exchange-binance-sets-up-bank-account-in-malta/amp?__twitter_impression=true

Sure thisi will become to happen soon,local exchanges had been having this method that even ethereum,ripple and bitcoin cash can be convertible into fiats means innovation is happening and soon all the active and legitimate coins will be ready to be converted in real money.

[Bessta]

This is an awesome innovation if you want to stay on top. Surely this is the result of competition... the birth of great exchange. This i think will pump up the prices of top alts.

[gabmen]

This would really be great if it happens, don't you think?

https://cointelegraph.com/news/exclusive-world-s-top-crypto-exchange-binance-sets-up-bank-account-in-malta/amp?__twitter_impression=true

Sure thisi will become to happen soon,local exchanges had been having this method that even ethereum,ripple and bitcoin cash can be convertible into fiats means innovation is happening and soon all the active and legitimate coins will be ready to be converted in real money.

Well that's going to be big if that pushes through. And that will push those alts forward if fiat isn't required to be converted to btc first before trading and vise versa. Would also attract more traders to use binance so good move oj their part

[Coinsher]

If this will be happened, I think more people will be joining in the Binance team as more people are likely to have a crypto-fiat trading and vice versa. I hope that the team will be able to pursue this plans so that more people will experienced an easy way of transaction with less fees.

[Shenzou]

This would really be great if it happens, don't you think?

https://cointelegraph.com/news/exclusive-world-s-top-crypto-exchange-binance-sets-up-bank-account-in-malta/amp?__twitter_impression=true

This seems like a great addition to the trading market, but i wish they would allow fiat to crypto exchange and crypto to fiat exchange because that would make a lot of our lives easier and also i wish they would make verification much easier i know they are trying to be secure and keep thing legal but its seems too much for me, plus using their site can be a bit overwhelming for new users even with the basic stuff.

[beerlover]

I think this will happen eventually, bittrex has recently introduced this system which is a very good sign that crypto will be adopted. so this is very good news that is likely to happen. and yes a backbone for another big bull,

I do not trust binance this time, i have colleagues who actually invest cryptocurrency on binance and there is one issue occur which they lost a huge amount of their coins due to the system fails when the price of cryptocurrency has drastically changed.

The value of a cryptocurrency drastically changing is not supposed to be on binance. This is a market, if the value drops and your friend ended up losing a lot of money based on some pump and dump, it is just the market your friend is holding, so rather than trying to shift the blame on binance, maybe you should ask your friend the shit coin he was holding.

It is necessary for you to know that this is a decentralized market and you do not want to be holding a coin with no team or project.

[shield132]

if binance starts fiat/crypto trading then most likely they will also start allowing fiat deposit/withdrawal
and when that happens, to follow regulations they would start complying with KYC and AML rules
so... they will make user verification as mandatory am I right?
if you don't like the idea of KYC stuff, withdraw your cryptos out of binance now

Yeah, I agree with you, even websites without fiat already require KYC stuff and imagine if they offer fiat deposits (which I highly think will be implemented too), verification will be as simple rule as it's in any bank.
But great fact I found in article is that they plan to create 1 billion cryptocurrency-based fund to support blockchain and crypto startups.

[cloudproject]

well i think that was being nice if it done by binance, binance is the largest market after all and i think it can easily improve the choice of user itself when using it

[bocyaj]

This would really be great if it happens, don't you think?

https://cointelegraph.com/news/exclusive-world-s-top-crypto-exchange-binance-sets-up-bank-account-in-malta/amp?__twitter_impression=true

Yes .It is possible to exchange the FIAT with the crypto currency. Previously bitcoin adopted by the small amount of people.Now you can use localbitcoin to do the same .In this you have pay to the seller in terms of FIAT to get the bitcoin in your wallet.It's secured and safe.

[Camorra Dev]

Yes it is really great because from all the other competitors in this thing would put an emphasis on them, and they would be able to stay at the first place longer

[Sowik]

I thought the CEO of Binance said they will not be adding FIAT Pairs anytime soon or not at all, that they will keep it crypto to crypto exchange only. Maybe they will open another exchange for that?

[katiecbell]

Yes, it really will have a positive impact on the crypto currency market, too. If Binance starts trading in fiat currency, this will contribute to the inflow of cash into the crypto currency.

It would have a great impact in the long run and we will at least with this options get to start seeing a lot of the space maturing gradually and getting to see some projects not being reliant on bitcoin's movement which is basically most of the things we get to see these days.

As time goes on, I believe we will get to see this springing up in a lot of exchanges and will gradually become a norm with some active regulations.

[Ludji]

What I would like to see is Binance margin trading. I really love everything about their exchange, except the fact that they haven't yet implemented margin trading, like they said they would in the whitepaper.

[Camorra Dev]

if binance starts fiat/crypto trading then most likely they will also start allowing fiat deposit/withdrawal
and when that happens, to follow regulations they would start complying with KYC and AML rules
so... they will make user verification as mandatory am I right?
if you don't like the idea of KYC stuff, withdraw your cryptos out of binance now

This can become a great opposition for those who have multiple accounts because in this case, they would need some cheat or false documents. To go with there are multiple accounts and continue to trade.

[Otsu]

I thought the CEO of Binance said they will not be adding FIAT Pairs anytime soon or not at all, that they will keep it crypto to crypto exchange only. Maybe they will open another exchange for that?

I guess, this is only a idea and there is no final implementation yet. But probably in the near future they will consider this since bitcoin is getting wider and become more popular now. More big businessmen already engaged with this kind of business so there is a possibility that it can happen soon.

[shadyrifles]

This would really be great if it happens, don't you think?

https://cointelegraph.com/news/exclusive-world-s-top-crypto-exchange-binance-sets-up-bank-account-in-malta/amp?__twitter_impression=true

Binance is planning to introduce crypto to fiat trading pairs, according to multiple recent reports. Binance is currently the leading exchange in terms of daily trading volume, with more than $1.3 billion in trade and is slightly ahead of OKEx.

The exchange will use its new base at Malta to introduce the new service and set up a new platform based in Malta to offer crypto-fiat pairs. Binance CEO Zhao also revealed his plans to expand operations of the exchange to the Channel Islands as it is waiting to receive a license from the authorities at Jersey. The company is also in talks with authorities and banks in Taiwan.