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Binance card review Ireland

Earn up to 8% BNB cashback whenever you make a purchase but crypto conversion rates will apply.

Use the Binance Visa debit card to make spending your crypto holdings even easier. And depending on the amount of BNB holdings in your Binance wallet, you could earn up to 8% cashback in BNB on every eligible purchase. Find out how it compares to a traditional debit card here.

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$0

Deposit fee

Up to 0.9%

Withdrawal Fee

Up to 8%

Yield rate

Details

Product NameBinance Visa Card
Yield rateUp to 8%
Deposit fee$0
Withdrawal FeeUp to 0.9%
Annual percentage yield (APY) BTC5%
Annual percentage yield (APY) ETH5.2%
Free ATM withdrawal limitN/A
Fee Amount€0
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Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Pros and cons

Here’s an overview of the Binance Visa card’s standout features and shortcomings.

Benefits
  • Earn up to 8% cashback in BNB every time you make an eligible purchase
  • Your crypto funds are protected by the Secure Assets Fund for Users (SAFU) insurance
  • Spend anywhere that Visa is accepted around the world
Drawbacks
  • Withdrawal fees of up to 0.9%
  • Only 12 cryptocurrencies are supported
  • Apply Pay is currently not supported (though Google Pay and Samsung Pay are)

Eligibility and how to apply for a Binance Visa card

In order to apply for a Binance Visa debit card, you’ll first need to sign up for an account with Binance. It is available to a number of countries across Europe including Ireland.

In order to sign up to Binance and make use of the app, you’ll need to provide personal information with your application including the following:

  • Full name
  • Phone number
  • Email address

Binance will also need to verify your identity. Check out our exchange review to find out how to create an account at Binance.

How does the Binance card work?

The Binance card is a Visa debit card that is similar to a traditional debit card. You will have to be a Binance customer and have crypto held in your Binance funding wallet. From the Binance app, you’ll then need to transfer funds to your crypto wallet, which is then converted into fiat currency in order to make any purchases. And you can earn up to 8% in BNB cashback on every eligible purchase.

There are 7 card levels with 7 different levels of cashback that you can earn. Each card level relates to the amount of BNB holdings you have in your Binance wallet. And this in turn will determine how much BNB cashback you earn (between 0.1 – 8%) whenever you make an eligible purchase. Here’s a quick breakdown, accurate as of 6 July 2022:

Card levelBNB monthly average balanceBNB rewards on purchases
100.1%
212%
3103%
4404%
51005%
62506%
76008%

Main benefits of the Binance card

  • Crypto cashback. Depending on how much BNB you hold in your wallet, you can earn up to 8% cashback in BNB on eligible purchases.
  • No maintenance or transaction fees. You won’t have to pay any monthly or annual fees with the Binance card.
  • Spend wherever Visa is accepted. Use your Binance card wherever in the world Visa is accepted.
  • The Binance card app. Manage your card through the Binance app and start spending your crypto balance right away.
  • Google Pay. The Binance card supports Google Pay and Samsung Pay, making it simple to spend your crypto on the go.

Main drawbacks of the Binance card

  • Limited cryptocurrencies are supported. Only 12 cryptocurrencies can be used to make purchases on the Binance card including BNB, BUSD, USDT and BTC.
  • Payment and withdrawal fee. Whenever you use your Binance card to make a purchase or at an ATM, you’ll pay up to 0.9%.
  • Apply Pay is not supported. Apple Pay is not currently supported by the Binance card.

How does the Binance Visa card compare to a traditional debit card?

Traditional debit cards are usually linked to current accounts that hold your funds, usually in fiat currency like euros. You access these euro funds by using your debit card to make purchases in person or online. The Binance card can only be linked to your Binance crypto wallet which holds your crypto assets. You’ll then need to transfer crypto from your funding wallet to your crypto wallet in order to make a purchase. The key difference between traditional debit cards is that Binance then converts your crypto into euros ready for your purchase.

How experienced do you need to be with crypto to use the Binance card?

The Binance card works well for those already familiar with crytpo investing. This is mainly because you will already need to have a Binance account and hold crypto in your funding wallet in order to apply for the Binance card.

Though Binance as an exchange supports hundreds of cryptocurrencies, the Binance card is limited to supporting just 12. So if you don’t have one of the supported currencies, you may need to look elsewhere.

What cryptocurrencies can I use with the Binance card?

You can convert and spend the following crypto with your Binance card:

  • BNB
  • BUSD
  • USDT
  • BTC
  • SXP
  • ETH
  • EUR
  • ADA
  • DOT
  • LAZIO
  • PORTO
  • SANTO

Is the Binance card safe?

Yes. Binance takes steps to keep both your data and crypto safe. It does this by keeping all your funds secure through the Secure Assets Fund for Users (SAFU). It also adheres to anti-money laundering and KYC obligations.

You can also temporarily freeze your card from the Binance app in case it is lost or stolen.

Where can you use the Binance card?

You’ll be able to use your Binance Visa card all over the world, specifically wherever Visa is accepted.

Fees and limits

Here are the fees that apply to the Binance card:

Type of fee/limitAmount
Card issueFree
Card replacement€25
Payment and ATM withdrawalsUp to 0.9%
Inactivity for 12 monthsFree
Account terminationFree
Daily spend limit€8,700
Daily withdrawal limit€290

Check the full fees and limits that apply to Binance before signing up.

Verdict

The Binance Visa card could earn you up to 8% in BNB cashback, as long as you have hefty holdings in BNB and are already a Binance user.

Although the main perk of the card is the cashback, the Binance card does allow you to convert your crypto assets into euros to make everyday purchases – wherever you see the Visa logo. That’s something you can’t do with a traditional debit card.

Binance as an exchange supports a lot of cryptocurrencies however, the card supports just 12. And if you don’t have crypto assets in the supported crypto, you may need to look elsewhere. Alternative crypto cards and crypto savings accounts are out there. And you could earn a reward on your assets for locking or “staking” your crypto into the account for a certain amount of time.

Shop around and compare your options to find out which might suit your crypto needs best.

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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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