Every day brings new conveniences for using cryptocurrencies in nearby stores. The following information is important to know when obtaining a Binance Visa Card.
The ease of using cryptocurrencies like Bitcoin and Ethereum as payment at stores and restaurants is increasing every day. Increasing numbers of retailers see the potential of cryptocurrencies and use them in some capacity.
Recently, a number of bitcoin debit cards have appeared to allow companies accept payments in the form of digital assets. Debit cards for cryptocurrencies let you use BTC, ETH, XRP, and other altcoins for regular transactions, just as with traditional ones.
The world’s largest cryptocurrency exchange by trading volume, Binance, has also gotten involved and has introduced a brand-new crypto-based Visa debit card. When a user completes a transaction, it facilitates real-time conversion of cryptocurrencies to EUR.
The most recent Visa debit card is evidence of Binance’s efforts to promote the use of cryptocurrencies as much as feasible.
What is the Visa for Binance?
You may use your Binance Card, which is effectively a Visa debit card connected to your Binance account, to make cryptocurrency purchases everywhere Visa is accepted. It must be pre-loaded with cryptocurrency because it is a prepaid card, much like a traditional debit card.
Users of Binance can access it at the moment in a few countries in Europe, including 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, and Sweden.
It is accepted at more than 60 million businesses worldwide in more than 200 countries and territories.
Currently, only the following cryptocurrencies may be converted and used with the Binance Card: BNB, BUSD, USDT, BTC, SXP, ETH, EUR, ADA, DOT, LAZIO, PORTO, and SANTOS.
Why Order a Binance Visa Card (or Why Not)?
The Binance Visa Card offers a practical solution for you to spend your cryptocurrency earnings.
Pros
- low costs for transactions and processing
- Your crypto-based Visa card can be used wherever that Visa is accepted.
- One of the most well-known and safe cryptocurrency platforms is Binance.
Cons
- Taxes: For each nation, you should check to see if and how much cryptocurrency is taxed because, in order to use your cryptocurrency, you must first sell it for cash.
The Binance Visa Card’s features
A few new features have been added to the Binance Visa Card in addition to increasing usability and adoption:
There are no transaction or administrative fees at Binance.
- You may make purchases without having to convert your cryptocurrency assets into money. Binance converts it precisely when you need it, so you may hold onto your cryptocurrency till then and it will only convert when needed.
- Depending on the monthly average balance of your Binance Coin, you may receive up to 8% cashback (BNB). This reward will be applied to your Binance account in BNB.
- Let’s now look at the application process for a Binance Visa Card
How to Obtain a Binance Card?
non-binary users
You must first register an account with Binance if you don’t already have one. It takes a while to register. Follow the sign-up steps on the Binance registration page by clicking here.
The user account must also undergo KYC level 2 verification before the card can be ordered.
Users of Binance already
Here are the procedures you must do if you already use Binance in order to get your new card:
Step 1: Visit the website to apply for the Binance Visa Card.
Step 2: Click “Get Started” in step two.
Step 3: You may select how your name will look on the Binance Card once you’ve been forwarded to the order page. After you’ve confirmed it, click “Next.”
Step 4: Entails setting up a PIN for your Binance Visa Card. There are two security precautions to be aware of. It’s best to avoid using PINs with four consecutive numbers, as 1234 or 6789. Useless sequences include 7777.
If you skip this step, your PIN will be generated automatically. You can afterwards use an ATM to alter it.
Step 5: You may verify the delivery address for the card when the PIN is generated. If you registered at the exchange’s website, Binance will immediately prefill the address with that information. You should double-check everything and, if necessary, add any missing details.
Step 6: Verify all of your information and accept the terms of service, privacy statement, cardholder agreement, and KYC authorization.
Step 7: Click “Order” to conclude the procedure.
The delivery of the Binance Visa Card typically takes 1-3 weeks, depending on the country of residency. However, you may use Google and Samsung Pay to start using your Binance Card.
Activating the Visa Card for Binance
Your virtual Binance Visa Card will immediately activate upon the successful completion of your order.
Go to the Card Dashboard, however, to activate your real card. Remember that until the card’s status changes from “Pending” to “Shipped,” the area in yellow labeled “Activate You Card” will be grayed out and unavailable.
You can only click the “Activate Your Card” icon when the status is “Shipped.” It is preferable to obtain the actual card before activating it for security reasons.
Verifying the details of your Binance Visa Card
Following the activation of the actual Binance Card, you may review your information. Only virtual Binance Cards are supported by the see Details feature.
Step 1: On the Binance website, pick the “Binance Visa Card” link from the dropdown menu after hovering over the “Finance” navigation menu.
Alternately, go to the bottom of the page and select “Cards” from the list of available products
You may also choose “More” after logging into your Binance app. Tap the “Card” option that appears below “Finance.”
Step 2: Click “Show Card Data” and then input your 2-Factor Authentication (2FA) code to access the card details.
Step 3: Click “Display PIN” and re-enter your 2FA verification code to view your PIN number. It’s crucial to remember that the number will only be visible for a brief period of time.
Additionally, the PIN code is only used while using a real Binance Visa Card. Your Virtual Visa Card won’t require a PIN number to make purchases once it is connected to Google Pay or Samsung Pay.
How can I place an order for a new card?
You may order a new Binance Card through the Card Dashboard if you’ve cancelled your physical one or reported its theft. Please be aware that, unless the situation is as follows, you must pay a replacement cost of EUR 25.
Please be aware that we do not currently support a Binance Refugee Card replacement.
Click [Purchase New Card] to place an order, then double-check your mailing address. Next, decide how to pay the EUR 25 replacement price. You can utilize your Spot and Money Wallet’s fiat or cryptocurrency. If you want to pay with a cryptocurrency, the system will immediately convert it to EUR using the current exchange rate. The conversion rate is only good for one minute, so please be aware of it. The conversion rate will be updated if your order is not complete within this time window.
