If cryptocurrency is to ever see its full potential in terms of being used by the general public then it is imperative that people are able to acquire tokens as seamless as possible. Naturally, the biggest method by which cryptocurrencies are gotten by people is through crypto exchanges and these have grown from strength to strength over the years and continue to expand their reach across different countries as well as the number of cryptocurrencies that are offered. While these efforts are commendable, is also important that the method by which people are able to buy cryptocurrency is made as easy as possible.

In light of this, it was announced on November 1, 2019 that customers of Binance can now purchase an array of cryptocurrencies by making use of their debit cards.

Improved Payment Scheme

This announcement was made in a blog post and it turns out this is not the only new way by which customers can pay for cryptocurrency as there is also the option for paying for cryptocurrency with wire transfers, existing US dollar on-ramp and off-ramps as well as international clearing houses.

This is not the only new development as the blog post also touched on the number of milestones that have been achieved by Binance US since its launch on September 24, 2019. According to the blog post, the exchange has seen $15 million in trading in the first 30 days. Furthermore, the exchange also increased its tokens from 7 to 24 Which means that Binance US users can enjoy a total of 40 trading paris across the platform. The exchange was also able to break the $10 million mark by October 23, 2019 which is a huge success for Binance US.

Back in October, the exchange stated that customer deposits are eligible for FDIC insurance. This means that the exchange holds its funds in accounts that are insured by the FDIC which is the organization that gives insurance for deposit funds within the United States and this adds another layer of security to customer funds, especially in light of incidents like the QuadrigaCX scandal, in with hundreds of millions of dollars were lost.

What's your reaction?
Leave a Comment