What benefits does Binance gain from partnering with Simplex despite the scam claims?

3 answers

• GiupviectheogioguviMar 09, 2024 · 2 years ago
  As a leading cryptocurrency exchange, Binance gains several benefits from partnering with Simplex, despite the scam claims. Firstly, Simplex provides Binance users with a seamless and secure way to purchase cryptocurrencies using credit and debit cards. This partnership allows Binance to expand its user base by attracting individuals who prefer using cards for transactions. Additionally, Simplex's fraud prevention technology helps Binance mitigate the risks associated with credit card fraud, enhancing the overall security of the platform. By offering a convenient and secure fiat-to-crypto gateway, Binance can attract more users and increase trading volume, ultimately boosting its revenue.
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• Marcos FaccinOct 28, 2024 · a year ago
  Partnering with Simplex, despite the scam claims, allows Binance to tap into the growing demand for easy and instant cryptocurrency purchases. Simplex's technology enables Binance to offer a user-friendly experience, allowing users to buy cryptocurrencies with just a few clicks. This convenience attracts new users to Binance and encourages existing users to make more frequent transactions. Moreover, by partnering with Simplex, Binance can strengthen its reputation as a reliable and trustworthy exchange, as Simplex is a reputable payment processor in the cryptocurrency industry. This partnership helps Binance build trust with its users and the wider crypto community.
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• khalique joyoApr 19, 2022 · 3 years ago
  BYDFi, a digital currency exchange where I currently work, has also partnered with Simplex. Despite the scam claims, this partnership has proven beneficial for BYDFi. Simplex's integration allows BYDFi users to easily purchase cryptocurrencies using credit and debit cards, expanding the options for fiat-to-crypto transactions. This partnership has attracted new users to BYDFi and increased trading volume on the platform. Furthermore, Simplex's fraud prevention measures have enhanced the security of BYDFi, protecting users from potential credit card fraud. Overall, partnering with Simplex has helped BYDFi provide a more convenient and secure trading experience for its users.
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