Crypto Exchange News (Dec. 26, 2019) – We have great news for the cryptocurrency community. In a major policy reversal, the popular crypto exchange announced today that users can now buy crypto with visa cards by bidding the cards to their accounts
This is major news for the cryptocurrency community because Binance is one of the most used and popular cryptocurrency exchanges in the world. The new feature that allows Binance users to buy crypto with visa cards by biding them, however, is only available to European traders.
— Binance (@binance) December 26, 2019
Binance released the “buy crypto with credit cards” feature to 31 European countries. On the announcement, officially published on Binance’s website, traders can directly purchase cryptocurrency coins using Visa cards that are binded to their trading accounts.
However, only four of the major cryptocurrency pairs are currently enabled. They are: Bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), and Ripple (XRP). Any verified user can buy crypto with credit cards on Binance’s international exchange.
Crypto vs card companies
The feature is not available to United States and countries outside of the European Union. Buying cryptocurrency with visa cards is a rare feature for most crypto exchanges.
The majority of credit card companies are going out their way to prevent visa credit and debit cards to crypto transactions. Some major companies even outright banned their card holders from using their bank or credit cards baring their logo to buy crypto.
How to buy crypto with visa on Binance exchange
To buy crypto with visa credit or debit cards on Binance, simply click on their newly created “Buy Crypto” page. Once the link is clicked, you will be asked to enter your visa card info. After the card is submitted and bound, you can buy crypto with visa cards on file from the exchange.
Binance also announced that Mastercard holders and other fiat currencies will be added to the crypto exchange on a later date.
“Support for Mastercard and additional currencies will be added in the near future. Please stay tuned for more information.”
Do you think it’s unfair that other countries are excluded from buying crypto with visa credit and debit cards?
Raised in the U.S., Anton has a B.A. in economic history and has been in the cryptocurrency industry since 2017.