Leading cryptocurrency exchange Binance has added 15 fiat currencies for coin purchases with Visa and Mastercard on its platform. As of February 14, users in many countries around the globe can buy cryptocurrencies on Binance through partner Simplex.
List of additional supported fiat currencies including British Pound, Korean won, Russian ruble, Australian dollar, Swiss franc, Czech koruna, Danish krone, Norwegian krone, New Zealand dollar, and złoty Ba Lan, Swedish krona, Turkish lira, South African rand, Hungarian forint and Israeli shekel.
Binance customers can use this option through the page Buy Crypto to buy some private coins like: Bitcoin (BTC), Binance Coin (BNB), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and XRP.
However, this way of buying is not cheap. Simplex usually charges a purchase of about 7% – more expensive than an advance on a credit card. However, Simplex helps to make purchases in the preferred currency, instead of just US dollars or other currencies. This means that many users can avoid forex fees from their cards, usually 2-3%.
Binance continues to add fiat options
Binance is increasing support for more options for fiat trading with crypto. The exchange recently added support for the Russian ruble on its peer-to-peer trading platform. This option is also available on the Buy Crypto page, promising a much lower fee.
These moves appear to be in line with Changpeng Zhao's previous statement – Binance CEO, who said in November last year that Binance will bring 180 fiat currencies of countries around the world to the trading platform. mine.
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According to CoinTelegraph
Translated by ToiYeuBitcoin