The Binance Card is a cryptocurrency debit card that is free, fast and easy to both obtain and use. Moreover, its attractive and innovative design also makes it a cool thing to own.
This is a debit card with which it is possible to convert and spend cryptocurrencies in more than 60 million shops worldwide using the Visa circuit, by transferring crypto from the Binance spot wallet to the card wallet.
The special aspect is that it is completely free of charge. In fact, Binance does not charge the user any administration or transaction processing fees, however, third-party fees may still apply based on usage.
You may also like: How to create NFTs and sell them on Rarible
How does Binance Card work
The Binance spot wallet allows customers to store their cryptocurrencies safely, only sending them to the card wallet when they want to spend them.
The exchange into fiat currency takes place automatically only at the time of spending, while the funds stored on the Binance Card are protected by the highest security standards offered by the platform.
Furthermore, the card can also be linked to the Binance App, so that everything can be managed directly from the smartphone.
The card also offers cashback on eligible purchases of up to 8% of the spending. This percentage depends on the level of the card, which in turn is based on the amount of BNB staked in the user’s Binance wallet. Cashbacks are paid out on a daily basis, with a monthly cap equivalent to €1,800, and are paid directly into the card’s wallet.
The card exists both in a virtual version, to be used for online purchases, and in a physical version, for payments in shops. After ordering and obtaining the virtual version, the physical version can also be requested.
Finally, a list of FAQs has also been published on the Binance website, allowing people to find answers to the most frequently asked questions.