Trust Wallet, a large self-custody cryptocurrency wallet owned by the Binance crypto exchange, has completed a significant integration to make buying crypto easier.

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The Trust Wallet platform has integrated Binance’s official cryptocurrency provider Binance Connect, allowing users to purchase over 200 crypto assets directly from credit or debit cards, Cryptooshala reported on June 22.

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The new Trust Wallet cryptocurrency purchase option is designed to simplify the process of buying cryptocurrencies by allowing verified Trust Wallet users to fund their wallet with over 40 fiat currencies.

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To add funds to Trust Wallet via Binance Connect, users will need to complete the same Know Your Customer (KYC) checks as on Binance. “It will maintain the same high standard and process as Binance’s KYC,” a Binance spokesperson told Cryptooshala.

The commission for adding deposits to Trust Wallet through Binance Connect is 2%, the representative noted.

The integration is available to all Trust Wallet customers, except for those in restricted countries such as the US, Singapore, China, Ontario Canada, Cuba, Belarus, Crimea, and others. According to the representative, the integration began on June 21.

The new integration is designed to provide users with seamless and simplified access to Web3 or decentralized assets. “Previously, Web3 users had to go through a long process to buy cryptocurrency directly on blockchains. They had to do this through various centralized exchanges before finally sending their assets to the blockchain,” the announcement reads.

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Binance did not elaborate on the advantages and disadvantages of depositing with Trust Wallet versus adding funds on the Binance exchange. The representative only stated:

“It depends on how you want to use your cryptocurrency, using Trust Wallet will be an easier way to get crypto assets on different blockchains and enter the Web3 world.”

Binance Connect, formerly known as Bifinity, is a new cryptocurrency payment technology subsidiary of Binance launched in March 2022. Bifinity subsequently received a warning from the UK Financial Conduct Authority regarding the firm’s partnership with investment firm Eqonex.