Argentina is the very first country in Latin America to receive this product from Binance.
Other regions will be available soon
Binance CEO and founder Changpeng Zhao (CZ) announced on his official Twitter account that the Binance Card is now available in Argentina. He said that there was a “soft launch” of the Binance prepaid card on July 7.
To better understand, a soft launch is the launch of a website, product or service to a limited audience. In other words, it is a method of gathering data on the usage and acceptance of a product or service in the marketplace prior to its official launch.
The Binance Card is now available in Argentina. The launch took place on July 7. The rest will be rolled out in the coming week. Other regions will be available soon.
Very importantly, to access the Binance Card, it is necessary to have a registered account on the cryptocurrency exchange platform Binance. The order of the card is done on the official website and requires an identity verification.
By the way, this card allows you to make payments at any online or physical merchant. In addition, according to Binance’s website, with this product, the user can keep cryptocurrencies in Binance’s fund wallet. Then, the platform automatically converts to fiat currency when a payment is made.
In fact, the Binance Card offers a BNB crypto rebate of up to 8% for every purchase made.
All rebates from eligible purchases are automatically deposited into your funded wallet. So all you have to worry about is spending your cryptocurrencies.
P2P trading also available
The Binance card allows purchases of about $690 (90,000 pesos) per day. And $2,780 (360,000 pesos) per month. In addition, a maximum of $340 (45,000 pesos) can be withdrawn from ATMs per day or $1,390 (180,000 pesos) in a month.
It is important to note that the first Binance card is free, but if the user needs to replace it, a $10 issuance fee is charged. For each transaction, a fee of up to 0.9% is charged. In fact, there is no fee for inactivity or account closure.
The cryptocurrencies and tokens with which payments can be made using the Binance card are:
- Binance USD (BUSD)
- Bitcoin (BTC).
- Cardano (ADA)
- Decentralized (MANA)
- Ethereum (ETH)
- Polkadot (DOT)
- Solana (SOL)
- Tether (USDT)
- USD Coin (USDC)