On March 31st Binance closed the deal to purchase CoinMarketCap. The popular exchange, Binance, seems to view the CoinMarketCap site as a valuable marketing tool. The site has long been the go to site for cryptocurrency prices and has served as a great tool to discover new currencies. Binance plans to grow the site which should make it even more influential among cryptocurrency enthusiast.
Binance has announced that they will limit access to traders in Japan. Binance was once headquartered in Japan , but moved their operations to Malta due to Japanese regulators. Binance also had headquarters in China before leaving for Japan.
The exchange has been forced to work around a constant change in regulations in order to operate in the ever changing cryptocurrency world. Binance assured their Japanese traders that the new regulations would be rolled out gradually in order to give traders time to adjust to the limited access and increased regulation.
IOS App in beta testing
Binance.US used Twitter to announce the beta testing of their new IOS app. The app has been in private beta testing for about 2 weeks, but will now be made available to all Binance.US clients. The beta testing will allow Binance to test for flaws and any possible problems with the app before making it available to a larger audience.
Binance will add Fiat to crypto trading pairs
Binance, one of the most popular Cryptocurrency exchanges in the world, has plans to enable their customers to buy Cryptocurrency directly with fiat currency. The complicated process of buying cryptocurrency has been an obstacle for many potential investors. Instead of buying a currency like Steem directly, one must purchase Bitcoin or Ethereum first through companies like Coinbase. Once the Bitcoin is purchased, it must then be moved to an exchange to buy Steem or whatever cryptocurrency is desired. Throughout the entire process, the customer is paying fees and experiencing long delays before they can even begin to purchase the coin they are interested in. Recent moves by Binance may change this entire process.
Binance has moved their operations to Malta which is fast becoming one of the most “Crypto friendly” regions in the world. Originally headquartered in Hong Kong, Binance had major concerns over the often unpredictable regulations imposed on Bitcoin and the cryptocurrency markets by China.
Binance is working with local banks in Malta to set up fiat to crypto trading pairs. This action will enable investors to buy cryptocurrency directly with US dollars or Euros without having to go through Bitcoin first. The ability to buy directly with fiat is sure to bring in many investors as the entire process will be so much easier.
This development will be a welcome change to many who have experienced less than stellar treatment from the banking establishment. Early 2018 saw many banks ban credit card purchases of cryptocurrency. Some banks even imposed significant fees for debit card transactions as well. Coinbase also had a problem with merchant services double charging customers for many transactions.
The ability to buy cryptocurrency with fiat dollars and Euros will completely change the landscape of cryptocurrency investing. Get ready, Crypto is going mainstream whether the banks like it or not.