The crypto exchange founded by CZ has come up with the newest feature “Sell Crypto to Credit/Debit Card”. Binance has announced that its users can sell cryptocurrencies for fiat and directly transfer the funds to their Credit/Debit Cards, and increase withdrawal limits.
As a Binancian, you can now sell your cryptocurrency for cash, with 11 fiat currencies currently supported: AED, EUR, GBP, AUD, BGN, CZK, DKK, HRK, NZD, PLN, and UAH.
However, the user’s Binance account KYC must be completed before using this feature. Only Visa credit and debit cards are currently accepted as payment methods.
The user can choose their preferred crypto and fiat currency, but they must confirm the payment order within 10 seconds because the amount of crypto is recalculated every 10 seconds.
The “Selling Crypto For Fiat Currency On Card” feature is expected to provide convenience in the form of hassle-free instant withdrawals as well as fast and efficient transactions with the highest liquidity.
Besides this, Brazilian Binance users who pay with credit/debit cards will be charged the IOF tax with each card transaction.