Binance's new fiat-to-crypto exchange is "overwhelmed with registrations"

17 Jan, 2019 | Updated: 17 Jan, 2019
by Will Heasman
Binance's new fiat-to-crypto exchange is overwhelmed with registrations

Yesterday brought the launch of Binance’s new fiat-to-crypto exchange, allowing EU customers to trade their GBP or Euro fiat, for Bitcoin (BTC) and Ethereum (ETH). Just one day after the launch and the exchange is already inundated with registration requests.

The exchange even put on a promotion, incetivizing the first 5000 users with 20EUR upon sign up. Something which undoubtedly led to the abundance of registrations, now apparently creating a backlog:

Engagement on this level spells good news for the industry, with new users spilling in and getting involved. On ramps and off ramps such as this new exchange are a vital way to encourage new investors and further usability; leaving the market open to adoption from a less niche demographic.

Many of crypto twitter shared their thoughts on the new exchange and the impressive sign up rate: 

This isn’t a first for Binance, last year it opened up similar operations in Uganda, with UGX-BTC and UGX-ETH trading pairs. According to CEO Changpeng Zhao AKA CZ, this is just the start, with further plans to open 5-10 fiat-to-crypto exchanges across 5 continents this year.

Read moreNew Binance fiat-to-crypto exchange with EUR and GBP pairs: open for 58 countries

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