Binance Card: What is it and How Does it Work?

Binance card: what is it?

Binance is today the largest crypto-exchange in the world by daily cryptocurrency trading volume which today aims to become a global finance giant.

An important step along this path is the introduction of the Binance Card, the Visa card proposed by Binance, which presents itself as a rechargeable, secure and reliable debit card, as it is part of the Visa circuit.

What is the Binance Card for?

The Binance Visa card performs the normal functions of a regular, multi-currency debit card, adding a host of benefits to the equation, including cashback and the ability to pay anywhere, using your own cryptocurrencies directly.

Through the Binance Card, therefore, it is possible to use cryptocurrencies to be able to make online and offline purchases, using both a virtual card and a physical card, which is delivered to the home.

The conversion of cryptocurrencies into fiat currencies takes place at the time of purchase, at the official exchange rate and without commissions. Binance will take care of it directly and there will be no need to convert the crypto previously.

Through the physical card, Binance and Visa also allow the user to make withdrawals from ATMs, withdrawing cash in euros or dollars. In this way, cryptocurrencies can be spent immediately all over the world,

Binance Card: how it works

You can transfer Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD), Ethereum (ETH), Swipe (SWP), Cardano (ADA) and Polkadot (DOT), Ripple (XRP), Avalanche ( AVAX), Shiba Inu (SHB), Lazio Fan Token (LAZIO), Porto FC Fan Token (PORTO) and Santos FC Fan Token (SANTOS).

In addition to cryptocurrencies, the Binance Card also supports euros, so you can also pay directly in fiat currency.

There are no activation or maintenance costs. No Binance-side fees are charged on individual transactions and withdrawals, but administrative fees may be charged by third parties.

Another possibility offered by this card is that of being able to transfer cryptocurrencies from the main wallet to that of the card and vice versa at any time, instantly and completely free, also associating the Binance Card with Samsung Pay and Google Pay accounts.

There is a daily spending limit, for the virtual version of the card, which is 870 euros.

For the physical card, however, the limit amounts to 8,700 euros, while for withdrawals, it is set at 290 euros per day.

Binance Cards and cashback

An additional benefit of the Binance Card is the ability to get up to 8% cashback in BNB on all eligible purchases made through it.

The value of this cashback will depend on the amount of Binance Coins (BNB) that are stored on Binance in the last 30 days on average.

Requesting the Binance Card is very simple: first of all, you must be registered with Binance and directly visit the Binance Visa card website and follow the procedure.

The physical version of the card usually takes 45 days to be delivered.

Invest In The Stock, The Editorial Staff


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