Users of Trust Wallet, the official wallet of major cryptocurrency exchange Binance, have one more reason to be happy about its services as a new tweak allows for the purchase of crypto via credit cards.
The leading crypto-to-crypto exchange announced on Tuesday that the wallet provider was partnering payments processor Simplex to facilitate the new payment method.
Also exciting to the Binance’s user community was news that Trust Wallet would be adding support for yet one more major cryptocurrency. As per the exchange’s statement, the wallet will also support XRP, currently third among the largest cryptocurrencies by market capitalization.
The positive development means users of Trust Wallet can now top up their credit or debit cards at major card issuers and use them to buy crypto. At the moment, customers can purchase Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and the latest addition XRP among other tokens.
Binance already added credit card support, with the exchange partnering Israel-based Simplex last January. Users of the exchange can already buy crypto, including BTC, ETH, LTC, and XRP via credit card.
The founder of Trust Wallet, Viktor Radchenko, said that the firm’s intention is to provide services that would enhance user access to cryptocurrencies and decentralized applications (dApps).
He added that adding support for credit card payments constitutes one more way of increasing crypto adoption, which would see the firm realize its vision of enabling users to enjoy “the freedom of money.”
Radchenko also noted that Trust Wallet’s commitment to furthering crypto would see the platform integrate even more blockchains and blockchain-based features.
Binance’s announcement, published on Tuesday, March 12, nonetheless, did not give specific details concerning the supported cards or what fees would be charged to crypto users.
At the time Binance acquired Trust Wallet in July 2018, the only supported cryptocurrency was ether and a host of ethereum-based ERC20 tokens.
However, an effort to have many more added has seen the number of tokens available grow to 17 at the moment. Per the exchange’s announcement, the wallet is also compatible with hundreds of dApps.
Binance, reportedly looking to launch a fiat-to-crypto exchange in Argentina, also has plans for a decentralized exchange that it says will have Trust Wallet as its native wallet.
The Binance DEX is currently in public testing mode since its launch on February 20. According to Binance, the DEX will officially launch in the second quarter of 2019.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.