A brilliant news has just reached us with regard to Bitcoins, which is that the largest cryptocurrency exchange in the world, Binance, will now allow users to buy the digital currency with their credit cards.
With this big move towards fiat on-ramps, the exchange has broadened the user base and made the process of buying and selling Bitcoins, much more convenient and accessible. Any user can now buy major digital assets with the help of their credit cards.
The CEO of the platform had earlier come out in support of fiat-to-crypto trades. Changpeng Zhao (CZ) stated in an interview with Boxmining at the Binance Blockchain Week, that he believes that this format of trading should be encouraged and made available.
CZ stated in a public statement that:
“We want to provide Binance traders with fast and easy access to crypto, in the most secure way possible. Partnering with Simplex allows us to instantly bridge the gap between credit card payments and crypto for traders globally. On Binance.com, you can now buy crypto with credit cards and start trading in minutes.”
This move has been implemented, keeping in mind the potential of long term growth of crypto. Since the traditional market sees an influx of fiat currency, it only makes sense to allow greater fiat-to-crypto viability and trades. More investors will thus find it convenient to invest in crypto. The CEO further stated:
“The more ways we can offer people to buy crypto, the better. Credit card is a major method for payment. We are happy to finally make this available to our community. We will continue to work hard to add more options over time.”
This is a great opportunity for crypto to bounce back after the hard crash of the market. More investors will be looking to get in on the crypto game, now that buying Bitcoins is this easy. CZ said:
“The crypto industry is still in its early stages and most of the world’s money is still in fiat. Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.”
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