Binance Introduces Binance Card To Shop And Pay With Crypto
March 27, 2020
Binance Introduces Binance Card To Shop And Pay With Crypto
March 27, 2020

Binance, the major cryptocurrency exchange, introduced Binance Card, which can do everything just like a regular payment card does, as it works like a regular debit card issued by the users’ bank, which, in this case, is their Binance.com account.

On March 26, it has been reported by Binance that users can simply top-up their card with funds through the Binance Card App in the form of Bitcoin or BNB. It’s as simple as transferring BNB from one wallet to another. 

However, users’ card will then use this balance for their card payments and automatically deduct all expenses from the balance every time they make payment.

The Binance Card is issued by Visa and accepted by more than 46 million merchants offline and online in 200 regions and territories, which makes shopping with crypto easier than ever before. 

Also, the Binance Card will help to buy gifts for loved ones, shopping for groceries, or paying Internet bills online.

ALSO READ :  Binance Adds Nigerian Naira Fiat Trading Pair, Opens Deposits

As per the report, users will no longer need to sell their crypto to pay bills. With the Binance Card, they can keep HODLing, and spend only what they need to make a payment.

It has been analyzed that the Binance Card is currently available as a virtual card in a Beta version, with a physical card coming shortly.

The report states:

“We’re currently releasing the Binance Card in a beta version, and we aim to make it available globally to all new and existing Binance users within the next few weeks. We will initially release the card in Malaysia, then follow with Vietnam, and add more countries as we move forward.”

Likewise, the report continues by adding:

“You can register interest in Binance Card through the landing page, and we will notify you once the card becomes available in your region. All you need to do then is download the Binance Card App, log in to your Binance account or register a new one, and complete simple and secure identity verification. Then you can order the card for a one-time cost of 15 USD, which is payable in the form of initial top-up from your crypto wallet to the Binance Card balance. You just transfer 15 USD worth of BNB or BTC to your card balance, and we’ll process your order. We don’t charge any monthly or annual fees.”

While asking how can a user use the card once it arrives, the report says:

“All you need to use and control your card comes within the interface of one app. The Binance Card App allows you to manage your funds, card security, and spending with only a few taps. Once your new card arrives, you need to load it with funds. Just transfer Bitcoin or BNB from your Binance.com wallet to the Binance Card wallet, and you’re ready to go.”

Thus, the Binance Card App will be available soon.

ALSO READ :  Baseline Protocol Code Allows Private Systems To Be Built On Ethereum Is Now Available On GitHub

Source: binance.com | Image: theblockcrypto.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is a regular publication of information, analysis, and commentary focused primarily on blockchain technology and business, cryptocurrency, blockchain-based tokens, market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any security.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

You May Also like

AR Crypto Game Promotes On Social Distancing

AR Crypto Game Promotes On Social Distancing

Triffic, a free augmented reality game which rewards players with cryptocurrency, is doing their part to promote social distancing among their user base. On March 26, the startup announced on twitter that beta users...

Ishita Bora

Ishita Bora is a content creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, and guides.
Share This

Share This

Share this post with your friends!