Binance Discontinues Visa Card Services
On 20 December, Binance will cease supporting all services related to its Visa debit card, leaving holders unable to spend their crypto until the exchange finds another provider for electronic payments. This move has prompted users to search for alternative cards, with some turning to the Crypto.com card, which has gained popularity as a leading option in the niche market.
Crypto.com as First Replacement
With Binance pulling its Visa debit card service within the EEA, Crypto.com has emerged as the go-to option for many. Offering a range of Visa debit cards with varying cashback percentages based on the amount of CRO tokens staked, Crypto.com provides a variety of benefits to cardholders beyond just cashback. These cards are suitable for CRO holders looking for long-term benefits from the platform and the token itself.
Alternative Crypto Cards: Bybit, Nexo, and Bitget
Aside from Crypto.com and Binance, other operators offer viable Visa/Mastercard debit cards for convenient crypto spending. Bybit, for example, provides a card with spending limits based on trading activity, offering up to 10% cashback for high-volume traders. Nexo, a lending platform, offers both credit and debit card options, allowing users to spend crypto without selling it, with cashback and yield benefits.
Bitget is set to launch a credit card in 2024, offering benefits such as global validity, low fees, real-time settlements, and exclusive rewards for VIP customers. These alternative cards cater to a range of crypto holders, traders, and hodlers, providing different benefits and features.
Hot Take: The Future of Crypto Cards
With Binance discontinuing its Visa card services, the spotlight is on alternative options such as Crypto.com, Bybit, Nexo, and Bitget. These cards offer a range of benefits and features tailored to different preferences and needs within the crypto community, providing users with flexibility in managing and spending their digital assets.
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