🔒 Binance Visa Card Discontinued
- Details: Binance announced that its Visa debit card service in the European Economic Area will stop on December 20. This means users can no longer use this card for crypto transactions.
- Reason: The discontinuation follows a search for a new electronic payment provider.
- User Impact: Binance card users must find alternative methods for their crypto-based transactions.
🃏 Crypto.com as a Leading Alternative
- Card Options: Crypto.com offers 5 different Visa debit cards, each with unique cashback rates and benefits.
- Cashback Mechanics: To enjoy high cashback, users must stake CRO tokens. For instance, the “Ruby Steel” card requires a 350 euro stake for 1% cashback.
- Additional Benefits: Some cards offer complimentary services like Spotify and Netflix, with higher-tier cards adding more perks like VIP airport lounge access.
🔁 Other Noteworthy Alternatives
- Bybit Card: Best for active traders, with benefits linked to trading volumes. For example, over $10 million in spot market volume could yield up to 10% cashback.
- Nexo Cards: Offers two types - a credit card that allows spending crypto as collateral, and a more conservative debit card with up to 9% yield on FIAT deposits.
- Bitget Card (Launching 2024): Promises low fees, global acceptance, and real-time settlements, appealing to a broad range of crypto users.
📊 Evaluating and Choosing the Right Card
- Your Crypto Usage: Your choice should align with how you use crypto – whether for daily spending, trading, or holding.
- Benefits vs. Requirements: Consider the cashback and perks against what’s required (like CRO staking in Crypto.com’s case).
- Future Considerations: Keep an eye on upcoming options like Bitget’s card for potentially more favorable terms.
- Stay Informed: Regularly check updates from these platforms as terms and benefits can evolve with market changes.