Crypto adoption

Binance: Shiba Inu added to prepaid card for payments

Leading crypto-exchange Binance announced on August 06 that SHIB payments will now be accepted in stores around the world via the prepaid card.

Two more cryptos added

As a reminder, the launched Binance Card allows European residents, and more recently users located in Argentina, to spend their crypto currencies to purchase goods and services at more than 60 million stores, both online and physical.

Similar to other crypto currencies supported by Binance Card, users who will use:

  • SHIBA,
  • XRP and
  • AVAX

to make their purchases will have their assets automatically converted to fiat currency during their transactions. Binance has increased the number of supported cryptocurrencies to 14.

As a result, the number of cryptocurrencies supported by the Binance Card now stands at 14. These include BTC, BNB,  ETH, USDT, USDC, ADA, DOT, SOL, MANA and SXP.

One of the most important benefits of the new Binance card is that it offers up to 8% cashback in BNB for specific purchases. Eligible Binance cashback will be credited to the funded wallet immediately.

In addition, this card does not charge any fees for withdrawals via ATMs. Users can withdraw up to 45,000 pesos ($339 at official exchange rate) per day or a maximum of 180,000 pesos ($1,357) per month.

The cashback alone makes Binance’s card a serious competitor to traditional banks, which tend to offer very low cashback percentages (or its equivalent in points) and charge high fees to withdraw money from ATMs.

To apply for the card, users must have an active Binance account. The card will allow purchases up to 90,000 pesos per day and a maximum of 360,000 pesos per month.

Leave a Reply

Your email address will not be published.

back to top