SHOW ALL

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Trust Wallet, owned by Binance, can now be used on Binance Connect

Trust_Wallet,_owned_by_Binance,_can_now_be_used_on_Binance_Connect

Trust Wallet, a key self-custodial cryptocurrency wallet owned by the Binance cryptocurrency exchange, has finished a major integration. This will make it easier to buy cryptocurrencies.

The company told Cointelegraph on June 22 that its official fiat-to-crypto provider, Binance Connect, has been added to the Trust Wallet platform. This means that customers can now buy more than 200 crypto assets directly with credit or debit cards.

With the new Trust Wallet crypto buy feature, verified users can load their wallets with more than 40 fiat currencies. This makes it easier to buy cryptocurrency.

To send money to Trust Wallet through Binance Connect, users must continue to go through the same Know Your Customer (KYC) checks they do on Binance. A Binance representative told Cointelegraph that it “will keep the same high quality and process as Binance’s KYC.”

The representative said that there is a 2 percent fee when using Binance Connect to send money to Trust Wallet.

Users in some countries, like the United States, Singapore, China, Ontario, Cuba, Belarus, Crimea, and others, can’t use the integration, but all other Trust Wallet users can. The person who talked to us said that the integration went into effect on June 21.

The goal of the new connection is to make it easy and smooth for customers to get to Web3 or decentralized assets. In the past, Web3 users had to go through a long process to get cryptocurrency on the blockchains directly. According to the release, they had to go through many controlled exchanges before they could finally put their money on a blockchain.

Binance didn’t explain in detail the pros and cons of putting money into a Trust Wallet account instead of a Binance exchange account. The only thing the person said was:

How you use your cryptocurrency depends on what you want to do with it, but using Trust Wallet will make it easier to access assets on many blockchains and join the Web3 world.

Binance Connect, which used to be called Bifinity, is a new subsidiary of Binance that focuses on fiat-to-cryptocurrency payments. It was launched in March 2022. After that, the UK’s Financial Conduct Authority sent Bifinity a warning questioning the company’s ties to the investment business Eqonex.

SHARE:
Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *