Hello traders. In this video, I will touch on the topic of cryptocurrency debit and credit cards. They appeared quite a long time ago, as many companies, including crypto exchanges such as Binance, are actively releasing and distributing them around the world. Whether they are convenient and whether it is worth using them, I will tell you in this video. Let’s start!
Crypto Binance Visa Debit Card
In 2020, Binance launched its first Visa cards for cryptocurrency users. At first, they were available in Southeast Asian countries such as Singapore, Malaysia, Hong Kong. But gradually these cards are spreading and will soon be available in Europe, the USA, Russia, Thailand, South America, and Arab countries. With the help of the Binance card, it is convenient to buy and sell tokens, exchange them with each other, enter and withdraw crypto online.
The advantages of Binance debit cards are as follows. The first is the ability to store the crypto and change it when necessary to pay for services or goods, without the need to keep electronic money on an exchange or special wallets. Second, there are absolutely no commissions for card transactions, but exchange commissions through the exchange remain. Thus, you can use the card of the largest exchanger for free.
Crypto Swipe Visa Credit Card
The third advantage is reliable protection and security of your means of payment. You can sleep well and be sure that your assets are safe. In addition, Binance guarantees the return and loss of funds, even if any force majeure happens. Fourth – the ability to get back 8 percent of purchases and card use. The more you spend with a Binance debit card, the more different bonuses you get.
A cryptocurrency Swipe Visa credit card is also available. It is a new product from Binance-owned Swipe. Such a card offers the opportunity for people to borrow money online using Defi (decentralized finance) technology. To use it, you will need a LendFi phone application that runs on the Compound protocol. These virtual cards are already available to users in the United States.
Other cryptocurrency cards
There are tons of other crypto debit and credit cards out there. So the company Visa itself, together with the cryptocurrency startup BlockFi, is going to release its credit card in 2021. They promise to support the return of a small percentage of money in Bitcoin. Bitwala is the next type of Visa card for using electronic money, available and widespread in Europe. Issued by the European bank Wavecrest Holding Ltd.
The fifth type of card is Shift. It is considered one of the first bitcoin cards available on the market. It was created and published by Shift Payments and Coinbase. It allows you to quickly change BTC to fiat money and back without commissions. Available in the US and completely free. The sixth type of card is E-Coin. Unlike all previous cards, this card is supported by MasterCard, it is tied not only to BTC but also to many other popular types of real money, be it a pound or a dollar.
The video about crypto debit and credit cards is coming to the end. I told you about 5 types of payment cards – Binance Debit, Swipe Credit (also owned by Binance), BlockFi, Bitwala, Shift (Visa supported), and E-Coin (Master Card supported). I am waiting for a Binance debit card, as I mainly trade on this exchange and I have more confidence in it. That’s all and see you again in the new videos on botcryptotrade.com