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 cryptocurrency 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 resurfaced as the go-to option for numerous. 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 advantages to cardholders beyond just cashback. These cards are suitable for CRO holders looking for long-term advantages from the platform and the token itself.
Alternative Cryptocurrency Cards: Bybit, Nexo, and Bitget
Aside from Crypto.com and Binance, other operators offer viable Visa/Mastercard debit cards for convenient cryptocurrency spending. Bybit, for instance, provides a card with spending limitations based on trading activity, offering up to 10% cashback for high-volume traders. Nexo, a lending platform, offers both credit and debit card alternatives, allowing users to spend cryptocurrency without selling it, with cashback and yield benefits.
Bitget is set to launch a credit card in 2024, offering advantages such as worldwide validity, low fees, real-time settlements, and exclusive bonus for VIP customers. These alternative cards cater to a range of cryptocurrency holders, traders, and hodlers, providing different advantages and features.
Hot Take: The Future of Cryptocurrency 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 advantages and features tailored to different preferences and needs within the cryptocurrency community, providing users with flexibility in managing and spending their digital assets.
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