Binance, the world’s largest crypto exchange, began the year by enabling direct fiat purchases of major cryptocurrencies using debit and credit cards. The partnership with Simplex allows Binance users to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and XRP (XRP) with Visa or MasterCard.
— Binance (@binance) June 4, 2019
According to the fiat gateway page, BNB is now available through the pre-existing Simplex functionality. Binance indicates that the average transaction will take between 10-30 minutes, and the exchange will charge 3.5% or $10 per transaction, based on whichever is higher.
For the two stablecoins, USD purchases can now be made through direct bank deposit, providing another on-ramp for investors to access the digital currency market.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.