Binance US, the American arm of the popular cryptocurrency exchange Binance, has been one of the most talked-about exchanges in the crypto community since its launch in September 2019. One of the key selling points of Binance US is its commitment to compliance with US financial regulations, which includes Know-Your-Customer (KYC) and Anti-Money Laundering (AML) requirements.
One consequence of this commitment to compliance is that Binance US does not allow customers to deposit or trade using credit cards. This has been a source of frustration for some Binance US customers, who are used to the more lax approach to credit card usage on other exchanges.
However, there are a few workarounds that can be used to get around this restriction. The most popular method is to use a service like Changelly or Simplex to purchase crypto with a credit card, and then transfer those funds to your Binance US account.
These services usually charge higher fees than traditional exchanges, but they can be worth it if you need to get your hands on some crypto quickly.
Another option is to use a peer-to-peer (P2P) exchange like LocalBitcoins or Paxful, where you can buy crypto directly from another person using a variety of payment methods, including credit cards. However, it’s important to exercise caution when using P2P exchanges, as there is always the risk of being scammed by another user.
Ultimately, whether or not you can use a credit card on Binance US depends on how you go about it. If you’re willing to use a service like Changelly or Simplex, then you should have no problem buying crypto with your credit card.
However, if you want to stick strictly to Binance US, then you’ll need to find another method of funding your account.