“The freedom to convert easily between fiat and cryptocurrency is the key to bringing crypto further mainstream.”

Changpeng Zhao, the CEO of Binance

These are the words said by Changpeng Zhao, the CEO of Binance, when the company partnered with Koinal to bridge the two worlds of fiat and digital currency. Binance has been the leading exchange that enables its users to purchase cryptocurrencies. Partnering with Koinal has allowed them to open credit and bank card payment channels for the purpose. Binance has users over 175 countries buying Bitcoin, Bitcoin Cash, Ethereum, Litecoin and XRP from the platform. It witnesses a trading volume of $1.2 billion on an average every day.

How Will This Partnership Benefit Binance & Its Users?

The motive of this partnership has been to provide users with the easiest way to enter the digital asset economy.

Binance has been able to offer its users a service that makes their work easier. The additional credit and bank card payment channels added through Koinal increase the accessibility and adoption to purchase digital currency. The Koinal users and the millions of Binance users shall gain the following:

• Get a fiat to crypto gateway using their credit cards or debit cards
• Pay low fees per transaction
• Complete their transaction between 5-20 minutes

Changpeng Zhao also says that “As the blockchain industry matures, the demand for bridging the two worlds increases more than ever before. At Binance, we wish to provide our users with the easiest way to enter and thrive in the crypto space. We will always keep on building fiat to crypto gateways to boost accessibility and acceptance of crypto.”

Benefit for Koinal

The main benefit Koinal would get out of it would be tapping a huge market through Binance. This partnership will enhance Their effort to increase accessibility to the digital asset economy. The Head of sales at Koinal, Caroline Holst says;

“We are delighted to partner with Binance and acquire the opportunity to open up added credit card channels to the digital asset economy.”

Caroline Holst

Koinal has also made a similar partnership with Okex.com, another cryptocurrency exchange platform with millions of users. Koinal is on a mission to encourage the purchase of digital assets across the world. Starting services from just 2018, it has satisfied several users by providing:

• Hassle-free purchase of cryptocurrency using a credit card and debit card
• Making the fiat to crypto transactions extremely cheap
• Providing with the highest level of privacy and security to its users
• Enabling quick purchase of cryptocurrencies
• Giving an attentive customer service to all its users, leaving no grievance unresolved

If you plan to purchase cryptocurrency for the first time, you can consider using the Binance-Koinal platform. You can start buying cryptocurrency with your card by providing basic information.  After that, it will be easier to go through the process from here.

You can check out the Koinal platform and leave us a response here.