Binance Card: Review, Opinions And All You Need To Know

✍️ 21 July, 2022 - 14:49 👤 Editor: Jakub Motyka

  • The Binance Card is a fantastic option if you are looking for a crypto debit card.
  • You can use the crypto card from Binance for almost everything, the same as if you were using any other credit or debit card.
  • Before making your decision, take a look at this full review of Binance Card.

The Binance Card has created much buzz in the blockchain world. Some people love it; some people hate it. This blog post will take an objective look at the Binance Card and discuss its pros and cons. We will also talk about the value of blockchain technology and how it is changing how we do business. Finally, we will give our opinion on Binance Card and whether or not we think it is worth your time and money.

💳 What is the Binance Card?

It should be no surprise in the blockchain talk that the cryptocurrency exchange Binance has created a debit card for its consumers dubbed the Binance Card. After being announced in March 2020, when the cryptocurrency exchange closed its purchase of the debit card business Swipe, the Binance Card was delivered in some European countries in September 2020.

Binance Coin (BNB), Ethereum (ETH), Swipe's SXP token, and Binance's stablecoin, Binance USD, are all acceptable ways of payment on this exchange. In addition, the Binance Card is accepted in over 60 million establishments across more than 200 countries and territories due to its position as a Visa debit card.

When making a transaction, you can choose to withdraw funds from Binance's fiat wallet rather than your cryptocurrency holdings. As a result, the fiat wallet may be filled with your favorite fiat money.

🤔 Is It Easy to Get A Binance Card?

The first step in receiving a Binance Card is buying one on the Binance website. Unfortunately, at the time, the Binance card was only accepted in a few countries in Europe, including some of those listed above. Although their country is no longer on the official list of nations that may do so, cryptocurrency enthusiasts in the United Kingdom may make pre-orders. This is most likely due to the confusion caused by Brexit.

Using an email address is the only thing necessary to create a Binance account, which is essential before you can begin trading. However, it should be noted that to get a Binance card; your account must first be verified by the KYC level 2 standard.

👍 Pros of the Binance Card

The Binance Card is the most exciting new way to use your crypto. It's like a credit card, except it uses your crypto to make purchases anywhere in the world. 

1️⃣ No Crypto Conversion Fee

One of the main advantages of the Binance Card is that there is no fee for converting your cryptocurrency into fiat currency. When you purchase with the Binance Card, the funds are automatically converted from your cryptocurrency into the local currency. This means you will not have to pay any conversion fees when trading from cryptocurrencies to fiats like Bitcoin to Euro when using the Binance Card.

2️⃣ Accepted in Any Visa-Accepted Locations

Another great advantage of the Binance Card is that it is accepted in any location that accepts Visa. This means that you will be able to use your Binance Card in over 60 million establishments around the world.

3️⃣ Binance Has A Reliable Reputation

Binance is one of the world's most popular and well-respected cryptocurrency exchanges. This means you can trust that your funds will be safe when using the Binance Card.

👎 Cons of the Binance Card

The debit card from Binance is excellent. It's fast, it's convenient, and if you're a crypto trader, it's practically an essential part of your kit. But with great power comes great responsibility. So here are some of the downsides to using the Binance Card!

1️⃣ Limited to a Few Cryptocurrencies

One of the main disadvantages of the Binance Card is that it is only accepted in a few cryptocurrencies. Binance only allows you to use Binance Coin (BNB), Ethereum (ETH), Swipe's SXP token, and Binance's stablecoin, Binance USD, to load your card. Therefore, you are unable to use the Binance Card if you don't own any of these currencies.

2️⃣ Binance Card is Only Available in Certain Countries

Another disadvantage of the Binance Card is that it is only available in Europe. Specifically, these countries:

  • Austria
  • Belgium
  • Bulgaria
  • Croatia
  • Republic of Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Gibraltar
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden

This means that if you live in another part of the world, you will not be able to use the Binance Card.

3️⃣ How to Use the Binance Card?

The Binance Card is very easy to use. Link your Binance account to the card, and you can use it anywhere that accepts Visa. When there's a purchase, the funds will be automatically converted from your cryptocurrency into the local currency.

💬 Conclusion

The Binance Card is a great way to use your cryptocurrency. It's fast, it's convenient, and it's accepted in over 60 million establishments around the world. However, there are some downsides to using the Binance Card. Specifically, the card is only accepted in a few cryptocurrencies and is only available in certain countries. 

Nonetheless, the Binance Card is a great way to use your cryptocurrency to get the best value for your blockchain. Thank you for reading! We hope this blog has helped you learn more about the Binance Card, and if you want more content like this, make sure to check out our blog now!

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