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Binance Enables Debit and Credit Card Payments

posted on January 31, 2019 by in Exchanges

According to a press release, the Leading cryptocurrency exchange Binance is going to add support for credit card crypto purchases via its collaboration with payment processor Simplex. According to Changpeng Zhao, Binance’s CEO, the firm aims to provide Binance traders with quick and simple access to crypto, in the securest way. It is reported, that co-founder and CEO of Simplex, Nimrod Lehavi, noted that for mainstream users, simple and quick credit card payments are very important for wider adoption of crypto in general. Binance users will be able to use Visa and MasterCard cards to purchase BTC, ETH, LTC and XRP.

Transaction Volume of Bitcoin Outreaches PayPal, Catches Up on Visa

posted on August 27, 2018 by in Bitcoin

Reports show that BTC transactions accounted for $1.3 trillion in 2018 alone, outperforming all PayPal transactions for the same period. Visa accounted for a massive $8.9 trillion in 2016, but with a trajectory of an 80.17% growth per year from 2013 to 2018, BTC will also overtake Visa in 2022, theoretically handling over $13 trillion in payments.

Visa and MasterCard Commissions for Cryptocurrency Purchase Now Twice More Expensive

posted on February 6, 2018 by in Other crypto

As most of the major credit card companies have changed their Merchant Category Code for cryptocurrency purchases, both Visa and MasterCard used this opportunity and have changed the classification of such transactions from ‘purchase’ to ‘cash withdrawal’, which gives them the right to charge additional fees.