Binance, the world’s largest cryptocurrency exchange by trading volume, has launched a new Visa debit card that allows users to spend their cryptocurrency holdings anywhere Visa is accepted.
The Binance Visa Card is currently available in select European markets, with plans to expand to other regions in the future. The card is issued by Swipe and powered by UnionPay, and allows users to spend up to $3,000 per day in cryptocurrency.
To use the card, users first need to download the Binance Card App and link it to their Binance account. From there, they can select which cryptocurrency they would like to use to fund their card balance.
Currently, Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) are all supported.
NOTE: WARNING: Before using a Binance Visa Card, please be aware that it is not a substitute for a traditional debit or credit card. The Binance Visa Card is a prepaid card that allows you to make purchases with your cryptocurrencies. It is important to remember that you do not have the same consumer protections with the Binance Visa Card as you do with traditional debit and credit cards. Furthermore, fees associated with the use of the card may be high. It is highly recommended that you carefully read through all terms of service and related documents prior to using a Binance Visa Card.
Once a user has selected their funding currency, they can then use the card anywhere Visa is accepted, including online and offline merchants. At the point of sale, the card will automatically convert the user’s cryptocurrency into fiat currency using the real-time exchange rate.
The Binance Visa Card also comes with a number of perks, including cashback rewards of up to 5% on certain merchants, and no foreign transaction fees. There is also no annual fee for the card, and users can order up to 5 cards for free.
The launch of the Binance Visa Card comes as more and more companies are looking to enter the cryptocurrency space. Earlier this year, PayPal announced that it would allow its users to buy, hold, and sell cryptocurrencies on its platform.
And last month, Mastercard announced that it would start supporting certain cryptocurrencies on its network later this year.
With the launch of its new Visa debit card, Binance is looking to make it easier for its users to spend their cryptocurrency holdings in the real world. And with support for a variety of different cryptocurrencies, the Binance Visa Card could soon become one of the most popular ways to spend crypto.
10 Related Question Answers Found
A Binance Card is a physical prepaid card that can be used to spend your crypto assets at any store that accepts Visa. The card is linked to your Binance account and allows you to easily spend your crypto without having to convert it to fiat first. The Binance Card is currently available in select countries and more are being added all the time.
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