Binance introduces Credit Card support for purchase of Cryptocurrencies

[Dreamchaser21]

Binance has done it. It has bought back credit card support. And this was desperately needed. Last year many banks combined banned purchase of Bitcoins on Credit card. Now Binance bringing this back, we can expect some news users joining the space

Article: https://blockmanity.com/news/exchanges/binance-introduces-credit-card-support-for-bitcoin-btc-ethereum-eth-litecoin-ltc-and-xrp/

This can be the start of a great year, and a huge move by binance now I want to try the system to know how it works and if its really possible to use my card on this. We may not see significant movement with the price right now but if a lot of good exchanges and other companies create a new development for sure it can boost the price of bitcoin, and we will start the uptrend again.

[timerland]

Binance has done it. It has bought back credit card support. And this was desperately needed. Last year many banks combined banned purchase of Bitcoins on Credit card. Now Binance bringing this back, we can expect some news users joining the space

Article: https://blockmanity.com/news/exchanges/binance-introduces-credit-card-support-for-bitcoin-btc-ethereum-eth-litecoin-ltc-and-xrp/

It does seem like that the new update supports most of the countries out there, which is nice.

My only concern would be that a lot of people with Binance have unverified accounts, which cannot use this feature. But collecting customer ID and info is pretty industry standard for processing credit card payments anyways that it's not really that big of a negative.

Also, 3.5% fees could be a bit costly. If you are using your credit card you may need to also pay the cash advance fee/rates, instead of the normal ones.

But overall, pretty awesome update. Simplex has been around for a while as well so it should prove to be a hit with the market.

[flemmings02]

The whole crypto-currencies trading market has already remained bearish for more than one year now, I wonder how much effect would this news affect the trading market in the next few weeks, but I still think as long as the SEC does not approve the bitcoin ETF, the chances for a bull market to return would be extremely low.

This is a good news, especially because of how bearish everything about the cryptomarket has been for these past months,  although I'm also of an opinion that the market needs more than just the credit card purchase options for top coins that got introduced on binance for to have another huge level of adopters, since there have been other sites offering something similar all along.