A warm welcome to another Let’s Simplify Things! post!

In this post let us have a look at the Binance card and simplify it.

Yes!! The Binance card has arrived to Europe!

I believe that there is no need to talk about Binance and how big it has become in the recent years!

So, for me it was a matter of time until Binance would also enter the lucrative payment cards space.

And they kind of have had, for some time now, by having a beta version running in some Asian countries.

So, you will ask me, what is the big deal with these cards?

Well…The main adoption issue, in my humble opinion, that the cryptocurrencies face, is the ability to use them to buy goods and services.

An ability that has to be easy enough for everyone to use it.

That is mainly solved by the usage of a payment card  that comes from one of the main paying networks, namely Visa and MasterCard.

Just imagine the transaction volumes that will go through those cards and the profits they will generate...

For various reasons, that mostly have to do with compliance to the various regulations around the world, these cards are, so far, of the pre-paid payment card form.

And the Binance card is just that.

The good thing is that it comes in two forms, a physical card and a virtual card.

The daily spending limits for your Binance card are as follows:

For the Virtual Card it is EUR 800.

And for the physical Card it is EUR 8,000.

The monthly spending limits for your Binance card are as follows:

For the virtual Card it is EUR 2,000.

And for the physical Card it is EUR 20,000

The monthly ATM withdrawals limit is EUR 300 and the limit for a single ATM withdrawal is EUR 150, which in my opinion are very low but being a prepaid card is to be expected.

Don’t forget that these card are into the high risk category for potential criminal activity ( mainly money laundering ) so, the limits have to be kept low.

As for the fees, the only two fees are, firstly, if you use your card in a transaction other than in Euros there is a 3% transaction fee and secondly, if you need to reissue the physical card there is a fee of 25 Euros.

So, if you are a resident of the following countries you can go ahead and get your card…

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

That also includes: Guadeloupe, Guernsey, Isle of Man, Jersey, Martinique, Monaco, Reunion, San Marino, Saint-Martin, The Aland Islands.

So, to simplify it Binance is trying to get a slice of the crypto-card market which is expected to generate billions in the near future.

The fees are very competitive and I do expect to see many perks coming soon.

For me the main competitor ( at least in Europe ) is Crypto.com as the rest have high fees related to their cards.

You can also have a look at my previous post regarding crypto-cards here.

Since it is free, I don’t see a reason not to get it, especially if someone already has a Binance account.

If I had to choose though between the Binance card and Crypto.com card, I would choose the one from Crypto.com as it offers, so far, a much more attractive package!

If you decide to get one or the other or both, I would be grateful if you would use my referral links!

I have to also say that the Crypto.com referral link comes also with 50 USD for you!

Finally before saying goodbye I want to let everyone know that I have no sponsors, this post is not sponsored by Binance, nor Crypto.com nor any other entity whatsoever!

You will only find my personal referral links, that I highly appreciate if you use them to access Binance or  Crypto.com!

The above reflect my personal views and by no means should be taken as a recommendation to use or not use any service or equipment whatsoever! 

Please feel free to make any suggestions or comments especially on what you would like to see next being simplified!

Until the next post....

Thank you all from the bottom of my heart!

The 50 USD Crypto.com referral link is: https://platinum.crypto.com/r/9lb6yfxu14

The Binance referral link is: https://www.binance.com/en/register?ref=35408413

The link to my previous post about crypto-cards: https://www.publish0x.com/simplify/let-s-simplify-things-crypto-cards-50usd-at-cryptocom-xxongke