Leading cryptocurrency exchange Binance has once again taken a strategic step to promote the mainstream usage of digital currencies by launching a payment card dubbed “Binance Card.”
In an official blog post on Thursday, the exchange disclosed that the new Binance Card works just like every other regular debit card but it comes with extra benefits.
Many customers have found out that shopping online with cryptocurrency as a means of payment can be both inconvenient and expensive since they have the option of either selling their Bitcoin and waiting for the funds to be transferred to their bank accounts or to allow exchanges to make the payment in exchange for their crypto.
It is these concerns that Binance seeks to correct by making it easier for customers to make purchases by simply topping up their cards with funds from their wallets using the Binance Card App.
Top up Binance Card with BTC or BNB
This top-up can be done through Bitcoin (BTC) or the Binance coin (BNB). Once the top-up process is completed, the customers will then be able to make purchases anywhere in the world using the Binance card which deducts the funds from the balance.
The new card also makes it easier for clients to pay bills, buy gifts for relatives, and buy groceries online without having to sell their cryptocurrencies before the payments are made.
According to the announcement, the card is issued by Visa and accepted by over 46 million merchants offline and online in 200 different regions.
It is presently available as a virtual card in a Beta version and will be released first in Malaysia, followed by Vietnam and other countries will be added later on. The physical card will soon be made available to all Binance clients around the globe within a short time, the exchange said.
The Binance card, just like other crypto cards released by the likes of Coinbase, Crypterium, and Crypto.com seeks to make online shopping with cryptocurrencies easier than ever before, thus, paving the way for global crypto adoption.
Author: Obike Favour