Binance Announces Fixed Crypto Investment Program With Visa & Mastercard
Binance announced the launch of its new feature of a fixed investment function. This investment program facilitates a systematic crypto investment service for retail traders, by allowing the purchase of a fixed amount of cryptocurrency within a set time interval.
Binance users can pre-order cryptocurrency purchases through their respective VISA and MasterCard. However, the fixed investment function is only supported by a VISA or Mastercard as of now.
Binance facilitates user convenience with the Automatic purchase service
Binance will provide the Automatic purchase service with this new feature. This means, investors can fix a certain purchase amount for their preferred cryptocurrency, and that fixed amount will be deducted from their Visa or Mastercard “every day, every week, every two weeks, or every month”. This is popularly known as a Recurring Buy.
Recurring Buy is a dollar-cost averaging (DCA) investment strategy. This facilitates the purchase of the chosen cryptocurrency, with a definite purchase amount, along with fixed intervals of the respective purchase. However, Recurring Buy is just another automatic feature, that eliminates the manual investment on part of users. This feature may provide convenience, but it does not guarantee the opportunity to acquire extraordinary returns. Nevertheless, the exchange highlights that these fixed investment schedules can easily be modified or suspended according to the user’s preference.
Binance in Regulatory Remission
Binance users have not seen any exciting launches or upgrades from the exchange recently. This stagnancy in the world’s largest exchange offerings could be the result of expanding regulatory crackdown on Binance. The exchange has suffered the wrath of regulators, which in turn has led to Binance taking steps toward compliance.
Overnight, the exchange announced the withdrawal of trading activities that involve the Singapore Dollar, instead of a local regulatory crackdown. Binance stated that Friday, i.e., 10th of September onwards, the trading platform will halt all transactions through the SGD payment option for its Singapore users. Furthermore, Binance’s trading App from Singapore’s iOS and Google Play stores will also be removed.Source