The success of the Binance Cryptocurrency Exchange and its lifeblood, the BNB Token continues despite the year-long bear market in 2018. Just recently, in February 2019, BNB broke in the top 10 cryptocurrencies by market capitalization pushing Bitcoin SV out of the number 10 spot. The BNB Token is now trading at 8.74$ (09.02.2019) with a market cap just above 1,2 billion USD.
Binance’s newest feature, credit card deposits, has been announced on the 31st of January. BInance wants to provide its users with easy access to cryptocurrencies and their partnership with Simplex allows the exchange enable credit card deposits for traders around the globe.
Simplex – A new partner for Binance
According to Simplex’s CEO and Co-Founder, easy credit card payments are paramount to the adoption of cryptocurrencies through the wider public. The partnership with Binance is supposed to tackle this problem and facilitate the fast and seamless exchange of FIAT into crypto assets.
As of now users can directly buy BTC, ETH and LTC with their Visa and Mastercard credit cards through Simplex. While Binance is already immensely popular amongst traders, investors and influencers alike, this new feature will probably further cement Binance’s position as the top crypto exchange in the future. Back in 2017, the exchange gained popularity fast by offering a vast selection of altcoins to trade on a simple to use platform, low fees and its BNB utility token.
Binance only recently began offering its users options to directly exchange FIAT for crypto assets with Binance.je and Binance Uganda allowing to trade with Euros, British Pounds, and Ugandan Shillings to be exchanged and now globally through credit card payments.
Binance’s outlook for the future of the crypto market
Binance CEO Changpeng “CZ” Zhao said that the crypto industry itself is still in its infancy and that Binance’s new deposit options are meant as a gateway to facilitate the adoption and introduction of the general public to cryptocurrencies.
The future seems to look bright for Binance with its flourishing userbase and successful projects like the Binance Launchpad.