Binance is revolutionizing the use of cryptocurrency as a payment method by introducing the Binance Card. Usually, there are services offering cryptocurrency as a payment method for certain merchants or they will make the payment on your behalf and take your cryptocurrency when shopping online.
How does the Binance card work
Changpeng Zhao the CEO of Binance demonstrated in Twitter how he has been using the Beta Version of the card. The exchange has been able to launch the card following the acquisition of digital wallet platform Swipe. Users can top up the card through Binance Card App using BNB or Bitcoin and it will be ready for use. The card will use the balance for payments and deduct expenses whenever you make payment.
Interestingly the card is acceptable in more than 200 regions and territories by 46 million online and offline merchants. You can do online shopping for gifts, buy groceries, and even pay your internet bill digitally with the Binance Card. you don’t have to sell your cryptocurrencies to make payments.
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Binance Card will cost a one-time fee of $15
Just like the debit card is issued by your bank, the Binance Card is equally issued by your Binance.com account. For now, the card is in the Beta version as a virtual card with a physical card expected soon which will be available to all users globally.
Interested users can apply for the card on the Binance site and they will be notified once the card is available in their region. Users should download the Binance Card App, log in to their account, and complete identity verification. The card will cost $15 which is a one-time cost that will be billed when you top up from your cryptocurrency wallet. There is no annual or monthly fees charge on the card.
You can use and control the card within the interface of the Binance Card App. The app allows you to spend, manage funds, and have card security with just a few taps. It is easy to use all you do is load BNB or Bitcoin to the card and start shopping.
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