Trading digital currencies for fiat money is becoming increasingly popular with many crypto investors. Bitcoin Börse Binance takes this trend into account.
The Exchange market wants to continuously expand service for currency pairs
Let’s start with the current situation in the trading of crypto tokens against the common European currency, the euro: Customers who traded via Binance’s subsidiary “Binance Jersey” in the past have had the opportunity to speculate with trading pairs involving the euro for about a year now. The context seems to be well received by the customers, otherwise why else would Binance now also serve this demand on its trading portal as a whole?
Euro currency pairs now available for trading
The well-known crypto stock exchange announced today in the Binance blog that from now on (cut-off date 03.01.2019, 8.00 a.m. local time), a supplement to the existing fiat money system will take effect. In future, traders will be able to trade the euro as part of six different currency pairs via the trading platform. Of course, Bitcoin is the first and still the most important crypto currency in the world on the token list. Not surprisingly, the in-house Binance Coin (NBB) is now also available against the Euro.
Also two Stablecoins on the Euro list
Added to this is the Stablecoin Binance USD, which is pegged to the dollar. The new trading offer also includes three further coins:
- Ether (ETH)
- Ripple (XRP)
- Tether (USDT)
Crypto-fans know of course that tether is also a stablecoin. Transfers in Euro to and withdrawals from the Binance account have been possible for several weeks now. Binance introduced this service together with the other currencies hryvnya (Ukraine), tenge (Kazakhstan) and Russian rouble. For the stock exchange (unfortunately for now by Binance US), the additional currency pair component with the euro was probably a logical consequence of the latest extensions to its own trading model. The stock exchange has made a number of corrections and innovations in recent months.