Binance CEO says this is the time to buy crypto with credit cards

Binance CEO says this is the time to buy crypto with credit cards
Written by:
Ali Raza
March 28, 2020
  • Binance CEO, Changpeng Zhao, recently posted on Twitter, adding another reckless comment.
  • Zhao suggested that users use credit cards to buy crypto, as 'infinite amount of money' is just around the corner.
  • CZ has a long history of reckless comments that often see a backlash, and while he stressed that this is not financial advice, this one already saw similar reactions.

Binance’s CEO, Changpeng Zhao (CZ) recently shared an interesting message on Twitter. He said that users might as well just start using their credit cards to buy crypto. He suggested this after the governments started announcing ‘infinite amounts of money.’

Zhao promotes a new feature as the economic crisis unfolds

Zhao retweeted a tweet posted by Binance’s official account. The exchange announced the ability to purchase AUD, INR, ZAR, BRL, and IDR with Visa card, inviting users to try it out. Meanwhile, its CEO, in his retweet, stated: “With infinite amount of money around the corner, might as well.”

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Zhao, who often posts some provocative comments on Twitter, made sure to point out that this is ‘not financial advice.’ The remark likely comes due to the common criticism of irresponsible statements that he made in the past. Since this one is likely to be taken as such, as well, Zhao added that this is not his official advice.

Of course, the nature of the comment clearly does make it financial advice, which comes just in time of great confusion for the crypto users. On one hand, many are afraid to invest in crypto due to the high volatility seen in the past several weeks. On the other hand, the promise of ‘infinite money’ is making everyone nervous about the long-term value of fiat.

Binance’s offer to purchase crypto via various fiat currencies, and through Visa, must have stressed uncertain users even further. This is when Zhao decided to act by posting his ‘not financial advice.’

CZ’s reckless comments keep coming

As mentioned, Zhao seeing criticism for reckless comments in the past. CZ is easily one of the biggest and most influential names in the crypto industry. Zhao has a major following on Twitter, which is why many feel that he needs to put more thought into what he posts. Especially during the time of global pandemic and something that many are calling the worst economic crisis in history.

The major company’s CEO has often attempted to make humorous comments. However, a lot off users might take such statements the wrong way. Of course, there was no lack of openly reckless statements, either. He tried to promote and pump BNB more than once, and such tweets usually disappeared due to backlash.

He also recommended not shorting Binance Coin, which ended up being very bad advice. He also called for regulation of crypto news, claiming that fake news is damaging the industry.