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Binance will launch a debit card for Bitcoin and BNB payments

  • The crypto exchange Binance has announced that it will launch a debit card to facilitate payments with Bitcoin (BTC) and Binance Coin (BNB) worldwide. 
  • At the moment, the card is available virtually in its beta phase, a physical version will be launched soon. 

The exchange Binance has announced the release of its first crypto debit card. According to the announcement, the Binance Card is intended to improve and expand the payment options for cryptocurrency owners worldwide to strengthen the adoption. The card, issued by Visa, is expected to be accepted by more than 46 million merchants online and offline in 200 regions and territories worldwide.

How to pay with Bitcoin and BNB using the Binance Card?

As announced, the Binance Card works like a conventional debit card, but in this case it is linked to the user’s account at the exchange. To use it, the user only needs to top up the Binance Card with funds via the Binance Card app. The funds will be available in Bitcoin (BTC) or Binance Coin (BNB). All payments made with the card are simply debited from the balance.

Binance BNB Bitcoin BTC

Source: https://www.binance.com/en/blog/421499824684900479/Introducing-the-Binance-Card-Shop-and-Pay-With-Crypto-Anywhere-in-the-World

The Binance Card is available in virtual format during the beta phase. However, the physical version will be available soon. The exchange has declared in this regard:

We’re currently releasing the Binance Card in a beta version, and we aim to make it available globally to all new and existing Binance users within the next few weeks. We will initially release the card in Malaysia, then follow with Vietnam, and add more countries as we move forward.

Users who are interested in the card can register here on the product page. Once registration is complete, the user will be notified if the Binance Card is available in their region:

All you need to do then is download the Binance Card App, log in to your Binance account or register a new one, and complete simple and secure identity verification.

Once the above process is completed, the user can pre-order their Binance Card for a one-time fee of 15 USD. Payment can be made using the Binance Card App. Through the application, users will also be able to manage their funds and expenses. Binance CEO Changpeng Zhao invited the exchange users to register for their Binance Card.

However, Binance is not the only exchange that has expanded its services in the form of a debit card. As reported by CNF, the crypto exchange Coinbase has succeeded in issuing the Satoshi Nakamoto card through its collaboration with Visa. The card allows Coinbase users to spend the funds at their disposal directly from the exchange, including Bitcoin (BTC), Ethereum (ETH), XRP and other cryptocurrencies.

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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