Binance Users Can Now Buy Cryptocurrencies with Credit Cards

Binance, one of the world’s leading cryptocurrency exchanges, has introduced support for credit card crypto purchases. According to a January 31 press release, the new payments method was enabled through Binance’s partnership with Simplex, a payment processing platform.  Users will now be able to use their Visa and MasterCards to buy BTC, ETH, LTC, and XRP, and start trading on the exchange “within minutes,” Binance said in the release. The company believes that the low fees (3.5% per transaction or 10 USD, whichever is higher) will help them attract more traders. The company’s partnership with Simplex is part of its larger mission to increase the adoption and mainstream accessibility of cryptocurrencies. Nimrod Lehavi, the co-founder and CEO of Simplex, said that easy and fast credit card payments are “a key factor in wider adoption of crypto in general,” especially when it comes to mainstream users.

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