European Binance Users Can Buy Crypto Through Credit Cards, Debits, To Apple Pay, Here's The Trick!

Binance announced that crypto purchases can be made via credit card and Apple Pay. (Photo; Doc. Coincodex)

JAKARTA The world's largest crypto trading company by trading volume, Binance, recently announced its users could buy crypto assets via credit and debit cards. In addition, Binance has also added other payment options through Apple Pay and Google Pay.

Binance announced this information through its official blog post. According to the company, users from the UK (UK) and European Economic Zone (EEA) countries can purchase crypto with their cards, according to a Coinpeaker report.

Binance also shows that users must first meet account verification requirements. Solving the verification process is a prerequisite for using their debit or credit card to purchase digital currencies listed on the exchange.

The announcement also states that a Binance card payment scheme is possible through third-party partner services. Thus, crypto exchanges are not directly responsible for providing these services and features. In contrast, the company led by Changpeng Zhao explains that they only work with these partners occasionally.

Binance also shows that all card payments are local and will not support foreign remittance transfers. Lastly, the popular exchange says users who pay cards in Brazil must pay the IOF tax fee for every Binance card transaction.

How to Buy Crypto with a Credit Card or Debit

In its announcement, Binance also provides guidance on how card users buy digital currencies with Google Pay and Apple Pay.

The process started by logging into their Binance account, selecting "Buy Crypto," and then clicking "Credit/Debit Card". The next step, the buyer enters the desired amount of fiat for the transaction, after which the system automatically displays an acceptable amount of crypto.

2. Select Crypto Buy option with Google Pay or Apple Pay

After that, users continue to purchase crypto using one of the available Google Pay or Apple Pay options before confirming their order. However, Binance stipulates that users only have 1 minute to confirm the order. People who take longer may have to complete their transactions at different prices, as this feature will recalculate based on current market prices. Users will have to click on the "Refresh" button to complete the transaction based on the new price. The exchange will charge a 2 percent commission on each transaction.

After fulfilling these steps, buyers will be directed to their Google Pay or Apple Pay transaction pages. Here, they will follow instructions on the screen to confirm the payment, and once payment is complete, they can see a history of transactions under "View Wallet."

That's how to buy crypto with credit or debit cards as well as Google Pay and Apple Pay.