Bitcoin exchange fans have been waiting for this message for a long time. After the Binance Card was announced in early April, it is now available to residents of Europe and the UK. A few days ago, Binance CEO Changpeng Zhao gave an insight into the crypto credit card software.
Cashbacks in the form of Binance Coin (BNB)
The crypto credit card market is dominated by large companies like crypto.com. However, due to the Wirecard scandal, they even had to issue their cards for Europe and the UK for a short period of time to stopbefore the cards were available again. But now you get competition from none other than Binance, one of the largest Bitcoin exchanges worldwide.
With the Binance Card, the exchange enters the crypto credit card market. It enables payment at 60 million acceptance points around the world. The Binance Card account is linked directly to the Binance Exchange account.
In addition to Bitcoin (BTC), the card supports the company's own cryptocurrency Binance Coin (BNB), SXP from Swipe and its own Binance Stablecoin BUSD. Cashbacks are paid out in the form of BNB according to the tweet:
#Binance Card is now launched for Europe and the United Kingdom (UK), enabling our users to convert and spend their #BTC, #BNB, $ SXP, and #BUSD to fiat at over 60 million merchants across 200 regions and territories worldwide.
(I.e. #BNB cashback
Sign up now! ⬇️
- Binance (@binance) July 14th, 2020
Binance Card: Pre-orders now possible
Interested customers from the supported areas (Europe and UK) can now register for the Binance Card on the website. As soon as this is available, pre-orders will be informed. Customers must have completed the exchange's KYC-2 procedure to place an order.
While digital cards can be delivered directly, the physical credit cards are still in production. Therefore, delivery will still take between 6 and 8 weeks.
Just a few days ago, Binance's CEO, Changpeng Zhao, gave a first glimpse into the software of the Binance Card:
Markus from Kryptokumpel.de
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