One of the world's largest cryptocurrency exchanges, Binance, has officially announced that it has started to offer services to Syrian citizens.
Binance Now Operating in Syria: Years of Access Restrictions Come to an End
Thus, millions of Syrian users who have been outside the digital asset economy for years have gained the opportunity to join Binance's global user base of over 270 million.
Due to the previously enforced US sanctions, Binance was unable to provide services to users in Syria. However, with the recent suspension of these sanctions, Syria is no longer listed as a "Prohibited Country" in Binance's Terms of Use.
With this important change, users in Syria will now have access to all products and services of Binance.
Main Services Available for Syrian Users:
Over 300 cryptocurrencies: including BTC, XRP, DOGE, SHIB, TONCOIN, and BCH
Spot and Futures Trading
Staking and Earnings (Earn) products
Ease of transactions with stablecoins
Fast and low-cost cross-border transfers with Binance Pay
Arabic educational contents
Special support and secure onboarding processes for local users
Why is it Important?
In addition to Syria's population of approximately 24 million, there are between 8 to 15 million Syrians living abroad. Due to the years-long economic crisis, high inflation, and the instability of the local currency, many Syrians have viewed cryptocurrencies as a way out.
Under these conditions, Syria ranked among the top 10 countries worldwide in crypto search interest in 2021. However, technical and legal barriers made it difficult to convert this interest into actual usage.
With Binance opening its doors, Syrian individuals and businesses can now directly and securely participate in the crypto world.
With the Arabic support and localized training content provided by Binance, users in Syria will have easier access to information and financial tools.
*It is not investment advice.
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The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Bitcoin Exchange Binance Has Lifted Years of Access Restrictions in This Country! Here Are the Details
One of the world's largest cryptocurrency exchanges, Binance, has officially announced that it has started to offer services to Syrian citizens.
Binance Now Operating in Syria: Years of Access Restrictions Come to an End
Thus, millions of Syrian users who have been outside the digital asset economy for years have gained the opportunity to join Binance's global user base of over 270 million.
Due to the previously enforced US sanctions, Binance was unable to provide services to users in Syria. However, with the recent suspension of these sanctions, Syria is no longer listed as a "Prohibited Country" in Binance's Terms of Use.
With this important change, users in Syria will now have access to all products and services of Binance.
Main Services Available for Syrian Users:
Why is it Important?
In addition to Syria's population of approximately 24 million, there are between 8 to 15 million Syrians living abroad. Due to the years-long economic crisis, high inflation, and the instability of the local currency, many Syrians have viewed cryptocurrencies as a way out.
Under these conditions, Syria ranked among the top 10 countries worldwide in crypto search interest in 2021. However, technical and legal barriers made it difficult to convert this interest into actual usage.
With Binance opening its doors, Syrian individuals and businesses can now directly and securely participate in the crypto world.
With the Arabic support and localized training content provided by Binance, users in Syria will have easier access to information and financial tools.
*It is not investment advice.
Follow our Telegram group, Twitter account and Youtube channel for exclusive news, analysis and on-chain data! Also, download our Android and IOS Apps and start live price tracking right away!