As many of you know, buying into Crypto can be frustrating. Coinbase being the most used exchange of entry, they are well known for their scamming ways of delays and freezing of funds. For those of you who want a better picture of how bad they are, just read these reviews.
https://uk.trustpilot.com/review/coinbase.com
Due to the hardships of entry, many are probably like myself and have shied away from risking their funds much due to the unprofessional ways of exchanges such as Coinbase. But there is exciting news now. One of the most trusted exchanges now accepts debit/credit cards.
Binance Now Accepts Debit/Credit cards.
They do have a restricted countries list however.
Afghanistan
China
Congo (Brazzaville)
Congo (Kinshasa)
Cuba
Democratic People's Republic of Korea
Eritrea
Iran
Iraq
Ivory Coast
Kyrgyzstan
Lebanon
Libya
South Sudan
Sudan
There are also six states on their prohibited list.
New York (NY)
Georgia (GA)
Connecticut (CT)
New Mexico (NM)
Hawaii (HI)
Washington (WA)
https://support.binance.com/hc/en-us/articles/360022204152
Their fees for processing, through a company called Simplex, is 3.5% or 10.00 per transaction, whichever is higher. Unlike the hold to transfer at Coinbase, they are saying you will have your crypto in 10-30 minutes, and can then move forward to trading for Steem.
https://www.binance.com/en/creditcard
Here is the Binance press release from January 31st, 2019.
This is such exciting news, and I look forward to begin buying Steem again in the next month or so, and to do so on a regular basis. It will be so easy to buy some Litecoin, then trade at the same exchange (Binance) it is bought at for Steem, then transfer it here to power up.
If you are unfamiliar with how to open a Binance account, here is a video that explains how to do so.
I love the puzzle piece they have to help fight bots. Notice towards the end of the video they offer a means of double login verification. If you opt for Google authentication, just remember it is phone dependent and not phone number dependent. The level 1 verification requires no ID, the option 2 in the video does. Obviously for debit/credit purchases you will need to undergo KYC protocols as you do at other places like Coinbase.
I will write a follow up to this in a month or so after I make my first purchase to let you know how smooth it works.
It is such an exciting time to be participating in the Steem chain. It seems since the start of the year, great things keep falling into place.