Binance has enabled purchases of cryptocurrencies namely Bitcoin, Ethereum, Litecoin and XRP using Visa and Mastercard cards by visiting https://www.binance.com/en/creditcard.
Binance is thrilled to enable debit and credit card payments for cryptocurrencies through our new partnership with Simplex.
Benefits of using a debit or credit card on Binance:
Fast: Average 10-30 mins for cryptocurrency to reach your wallet
Low Fees: only 3.5% per transaction or 10 USD, whichever is higher
Convenient: Visa and MasterCard accepted
You can find more information here
Indian Users Please Note
I'm not sure if it's a good idea for Indian users to use this feature with RBI's mandate on banking restrictions around cryptos currently in place. This is because one has to generally call their bank to clear "Simplex" payments on the credit or debit cards and your bank may decline or deny to process this payment.
I'm aware of people who have used Simplex payments in the past from India but here the use case is for buying cryptocurrencies.
The easier way is to simply use P2P systems currently available in India to buy/sell cryptos. It's far easier and one may not even need KYC in some cases to do this.
I don't see any major issue in this for non-Indian users. There is also a list of restricted countries that is worth taking a look at here
Happy trading on Binance. Cheers!
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Good update sharing firepower sir thanks.
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Great post bro. I think it is a really good new to the cripto world because credit and debit cards are part of our daily life and people knows how to use them.
I hope that in India allow to buy and sell criptos , maybe take time but you will achieve that. In my country argentina it is not regulated yet.
Thanks for stop in my blog aná !
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Fast: Average 10-30 mins for cryptocurrency to reach your wallet
This feature is going to bring me even closer and more heavily invested in crypto. Until now I had to wait more than a week (sometimes 2) for my FIAT to be converted to crypto.
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Nice news but still bad for us as still we are in a matter of confusion that we should use it or not...
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