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Cryptocurrency exchange Binance.US has announced that users can now buy cryptocurrencies using debit cards, which joins the platform’s existing USD on-ramp and off-ramps, including Automated Clearing House (ACH) and bank wire.
The digital asset marketplace has jumped to $15 million in daily trading volume since its launch in late September and increased token listings from seven to 24 tokens, bringing a total of 40 trading pairs to U.S. users.
Binance.US now offers access to buy and sell Bitcoin (BTC), BNB, Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), Algorand (ALGO), Basic Attention Token (BAT), BUSD (BUSD), Cardano (ADA), Chainlink (LINK), Dash (DASH), Dogecoin (DOGE), Ethereum Classic (ETC), IOTA (IOTA), Ravencoin (RVN), Stellar (XLM), Waves (WAVES), Zcash (ZEC), 0x (ZRX), and, more recently, NEO (NEO) and Cosmos (ATOM).
In a press release shared with TokenPost, Binance.US said that traders can now start using BNB to pay for trading fees to receive a discount.
For now, Binance.US services 37 states and Puerto Rico, and it is seeking licenses to service the rest of the United States.
“This is just the beginning. We want our marketplace to stand out as an easily accessible, educational platform for anyone looking to participate in this global movement,” Catherine Coley, CEO of Binance.US, said. “Crypto-literacy can offer Americans the opportunity to unlock new financial freedoms across a global ecosystem.”
Earlier this month, the exchange increased its ACH limits for USD deposits and withdrawals, allowing American users to send up to $5,000 through their initial ACH deposit. After this initial amount is cleared, ACH limits for the depositor will increase to $30,000. There are no fees on USD deposits or USD withdrawals made via ACH, making access to digital assets easier through USD.
Binance.US also announced that USD deposits are eligible for FDIC insurance coverage, which protects depositors against the risk of loss in the event that an FDIC-insured bank fails.
As per the details, all USD deposits are held in pooled custodial accounts at multiple banks that are insured by the FDIC. The pooled custodial accounts are maintained in a manner that provides access to pass-through FDIC insurance coverage up to the depositor coverage limit, which is currently $250,000.
“Whether you’re converting your first dollar into bitcoin, or running your business through our platform, we’ve standardized globally-validated technology to offer a secure, easy-access marketplace with a wider range of digital assets and personalized customer support to put agency in the hands of the user,” Coley added. “Beyond a means of asset exchange, Binance.US aims to help users access, evolve, and be in control of their own personal wealth.”
Going forward, Binance.US intends to continue expanding its roadmap with a continued aim to lower barriers to entry for new and existing users.
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