Binance launched Crypto-to-Fiat Exchange for Euro, British Pound Trading

Binance, one of the top rank global cryptocurrency exchange will expand it to Europe. The exchange confirms that they will accept fiat currency for trading into their new platform- Binance.je (Binance Jersey). The platform accept Euro ( EUR) and British pound (GBP).

Binance made it public that the Binance Jersey is now live. Users are able to register and deposit/withdraw. But users need to complete KYC (know your customer), in other words, identity authentication.

Binance Jersey is a major step in Binance’s plan for global dominance. The new exchange, Binance Jersey, is operating in Jersey. Jersey is a best place to start business, which involved cryptocurrency. According to the reports, government agency, Digital Jersey, will support Binance.

Bonus

Binance Jersey launched competition for 5 000 users. According to the Binance’s blog post, first 5 000 users, who complete account verification (KYC) will each be rewarded with 20 euro. The reward is useable only for trading fees, which means you can’t withdraw this bonus.

Fees

Unfortunately, Binance set deposit fees, also withdraw and trading fees.

GBP Deposit/Withdrawal Fees

Deposit: 7 GBP

Withdrawal: 20 GBP

EUR Deposit/Withdrawal Fees

Deposit: 8 EUR

Withdrawal: 20 EUR

Trading Fees

General 0.1% trading fee

Crypto withdraw fee and limits

Bitcoin

Withdraw fee: 0.0005 BTC
Minimum withdraw: 0.001 BTC

Ethereum

Withdraw fee: 0.01 ETH
Minimum withdraw: 0.02 ETH

Conclusion

Binance Jersey is a competitor of another exchanges, which accept fiat trading, as Kraken, CEX and other. Binance brand has become one of the reliable cryptocurrenxy exchange. Also, the exchange is also one of the fastest in the world as it reportedly processes more than 1.4 million orders per second.

Article may contains Binance affiliate links.

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