Binance announced that users in most countries around the world can now buy cryptocurrency in the platform using Visa Card. The feature is available through Instant Buy and provides new opportunities for more users around the globe.
“Instant Buy with Visa Now Available Around the Globe! Purchase cryptocurrencies in seconds using $USD, $EUR or $GBP with a Visa card”, tweeted Binance.
The exchange had added support for Visa Card some time ago after signing a partnership with Visa, but the new announcement is about adding many new countries to the support list.
Binance’s Instant Buy supports many fiat currencies natively, and users can buy directly through those assets. But in countries that their national currency is not supported in Instant Buy, buying with Visa Card is a useful solution. Those users can buy cryptocurrency with USD, EUR or GBP in their Visa Card.
Binance will add some other fiat currencies to the Instant Buy platform shortly. VND, BRL, AUD, IDR, ZAR, HKD, and INR will be added in the next 48 hours.
If a currency is supported in Binance Instant Buy platform, users can buy cryptocurrencies with their debit or credit card. The procedure is as simple as buying any other online asset. The user only has to have required credentials of debit or credit card.
Buying with Visa Card is not that different and provides the buying opportunity for users in not supported countries. But Binance has a list of abandoned countries and don’t accept payment from users in them.
“Mainland China, Japan, Canada, Luxembourg, Gibraltar, Bolivia, Ecuador, Pakistan, Colombia, Egypt, Bangladesh, Nepal, Morocco, Belarus, Congo, Cuba, Iraq, Iran, North Korea, Sudan, Syria, Zimbabwe, and Crimea”, are not supported, according to Binance announcement.
Some users tweeted about supporting MasterCard in Binance Instant Buy platform. Undoubtedly many customers around the world use MasterCard for their payment and adding that solutions mean many more people can join the cryptocurrency ecosystem. But the partnership between Visa and Binance and the long-time rivalry between two major credit companies may pose some problems in that direction.