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Binance allows buying cryptocurrencies with cards in Brazil without charging IOF

Cryptocurrency

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Binance customers in Brazil can now buy bitcoin and five other cryptocurrencies using Visa-branded debit and credit cards without IOF charges.

The news was announced on Friday (27) by the broker's Facebook page in Portuguese. The cryptocurrencies available for the operation are BTC, ETH, BNB, XRP, BUSD to USDT. There is a 2% charge

To use the service, you need to access the “Sell Crypto” page, choose the BRL option, the cryptocurrency you want to buy, then select “Pay by credit / debit card” and insert a valid Visa card.

Until then, customers needed to buy cryptocurrencies on Brazilian exchanges and then transfer them to Binance. With the partnership with Visa, a door opens in reais so that Brazilians can make this investment, more directly.

Expansion

According to Mayra Siqueira, Binance PR in Brazil, the idea is part of the exchange's philosophy of expanding the global adoption of cryptocurrencies.

“For the Brazilian, the entry door was made more difficult by the need to already have cryptocurrencies when starting to trade on the Binance platform. This is changing: from December last year, with the partnership for bank transfers in reais, through the options for purchases via international credit card, until the one launched today, with the purchase by credit and debit cards without international transaction fees, like the IOF. The idea is to expand to have more and more ways to receive Brazilians on the Binance platform ”.

Last Thursday (26), the broker announced the launch of its own debit card, still restricted to Asian countries. With Visa banner, the service allows the use of bitcoin and other digital currencies made available by Binance for the payment of daily purchases.

Although the news is still restricted to a few countries, people interested in the service from all over the world can register on the Binance website to be notified when the card is available in the region where they live.

In the Latin American context, which also includes Brazil, Binance launched on the 18th, a P2P (point-to-point) trading system for Latin America, with five currencies from the continent.

The Brazilian Real (BRL), the Argentine Peso (ARS), the Mexican Peso (MXN), the Colombian Peso (COP) and the Peruvian Sol (PEN) are included in the action. According to the company's statement at the time, the fees for transactions on the P2P platform will be zero.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.