Binance made an announcement on 21st February that they are allowing deposits as well as withdrawals in Hong Kong dollars without deposit fees. Users could deposit Hong Kong dollars and then they can spend them on cryptocurrency.
The partnership between the payment processor Epay and Binance enabled the deposits. The deposit option is made available to users through wire transfer, swift code, SEPA, Fasapay, PM and e-currency deposit and withdraw services.
It seems that Binance is trying its level best to bring more liquidity into the cryptocurrency market. The exchange has also added more 15 fiat currency options on its platform for Visa and Mastercard purchases. Additionally, Binance has also brought Russian ruble pairs for its peer-to-peer trading platform. Its the indication that Binance is taking efforts to draw people towards the cryptocurrency market during this new bull market.
Binance user base is been increasing day by day and that also leads to technical difficulties. The report published states that users of Binance had faced the unexpected surge in traffic issues. As the paper reads, “The difference between BTC at $10,000 this time around and the previous times is, there are a lot more users now. While this is a solid sign of strong recovery for the crypto market, it also puts on significant load for our systems.”
