Binance is the largest cryptocurrency exchange in the world. Broadly speaking, it offers one of the lowest commissions on the market and not only allows us to buy cryptocurrencies, but we can also check the profitability of each of them in real time. In addition, you have the VISA Binance card. Let’s see what their conditions are.
To buy cryptocurrencies, it is best to go to reliable portals. Among the best known we have Coinbase, Kriptomat, Kraken or Binance among others. The latter, in addition to being one of the most popular, has its own card to pay with cryptocurrencies.
How Binance VISA Works
The Binance VISA card works in the same way as a classic bank card. In this case, the monetary unit you use to make payments is cryptocurrencies. With it you can pay with your cryptocurrencies in more than 60 million establishments business around the world. You just have to transfer the cryptocurrencies from your spot wallet to your funds wallet.
This card is linked to your Binance account and allows top-ups at any time. When making a purchase, you make a automatic conversion via Swipe. In other words, the business where you use the Binance card will not receive cryptocurrencies as a form of payment, but rather euros or the currency in legal tender of the country where we are.
The Binance Card is available to users who live in one of 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.
Advantages, conditions and limits of the card
VISA Binance has certain advantages. Among them stand out:
- Cashback up to 8% of the value of your purchases that accumulates on the card to be able to use it in the future.
- It works through a secure system.
- They do not charge any administration fee.
- During the payment transaction itself, the exchange to euros or other legal currencies is already made.
On the other hand, one of the biggest disadvantages is its emission cost. For each card requested, Binance charges an amount of 25 euros. In addition, for each transaction they can also charge up to 0.9% commission on transactions at the point of sale or ATM withdrawal.
Currently the Binance card has limits that are as follows. It allows you to make purchases up to the maximum amount, in the case of the physical card, up to 8,700 euros and in virtual format of 870 euros. A maximum limit of 290 euros is also established for withdrawals at ATMs.
On the other hand, the card can be integrated with other mobile payment gateways such as Google Pay or Samsung Pay. We can request the VISA Binance card through the company’s website as long as we reside in one of the countries mentioned where its use is allowed. Once requested, we can activate it when the status of the same appears as “sent” through our user profile or the Binance App.