Binance Card Launches in Europe

[shata]

Binance made remarkable development started from its inception. And only this year, the former exchange made significant purchases as it acquired coinmarketcap
AND now binance card. Of course, this will spur mainstream adoption.

If that is the case that is awesome, that is exactly what we need in adoption, people will be able to spend everything on there and basically live a pure crypto life (except when they have to pay cash) I need to check more details about commissions and rates but if it is not too steep I think it would be perfect for me, I hope it comes to my country one day too.

That's exactly right! They will do the conversions internally. So you don't have to worry whether you don't have fiat on hand and only BNB or other crypto in your wallet. So even if the merchant is only accepting fiat, there's nothing to worry about. As long as you have their binance card, they will take charge of the conversion to fiat.

Moreover, specific details regarding fees, charges,  process, updates and etc., have not yet announced by the exchange. So, we will wait for that maybe next week.

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[crzy]

Binance everywhere, hope we are not going into centralization in a decentralized revolution? Time will tell and I am expecting institution to come up and join this revolution and makes things more competitive.

Binance will continue to align on the purpose of a decentralized market and having a card doesn't mean that we are going under the centralized market. Binance is simply amazing, it looks like all of the business under the cryptomarket will conquer them. I'm looking for more updates with Binance and hoping as well that this card will also travel in Asia to make it more fun and exciting.

[bgaf]

Binance card launched in Europe, enabling binance users to convert and spend BTC, BNB, SXP, BUSD to fiat. Binance card worked like traditional debit card powered by Swipe Plarform. Balance on the card will remain to be in the form of BNB coin until the point of sale which users can convert it into either cryptocurrency or fiat.

Source: https://www.binance.com/en/blog/421499824684900740/Binance-Card-Launches-in-Europe

So the supported establishment will be restricted since they only using those coins on their ecosystem. How fiat system will work on conversion for example you wanted to spend your coin for food, services or any other goods that accept or support Binance card.

For a big project this is a great advance. But still and only available yet to Europe.

[nicecrypto]

Binance is a perfect example of a project with potential and consistency in development to become one of the best at present, when you talk about project with determination and goal to achieve Binance is one of them, since the inception of this company,  they have strive so hard to provide better service to users, they keep expanding and including new features to their services so that users can have a better experience, kudos to Binance for their hard work, they deserve all the credits.

[jahepahit]

Binance is always breaking new grounds and this is a new one. I respect the exchange for it's determination and renewed idea to push crypto expansion forward.

[Dpat]

This is very good news that Binance is lunched the card for the spending of the crypto in various swap point. But, I want to know that whether it has lunched in only Europe or any other country. But, the crucial thing is that how much it has cost to maintain the card and what is the transactions cost over all the spending point.

[Erumo]

Then it will be really convenient if all the cryptos that are listed on binance can be used for this card. The fact that it's real-time doesnt burden us to convert it to fiat first like any other card out there although it's not something new.
Hopefully this will be a great success and expand even further, could be alternative for someone who used to deal with card frequently like me.

Convenient - yes, but you dont see the exchange rate when you use your card.

I understand it will work like this: you transfer altcoins from your balance to binance card deposit and they are kept in altcoins. They are not exchanged automatically (because you might want to move them back). You go to shop, use the card, pay in EUR or USD. When you go back to your account, only then you see exchange rate.

And more interesting - how will be selected which alt or btc to use for exchange? Lets say I have ETH, BTC, BNB on cards balance. I buy a bottle of water. Which cryptocurrency will be used for that purchase

[killerfrost]

If this idea were to come true, I believe Binance would be much bigger. And in the next 1-2 years, Binance can even surpass ETH in terms of market capitalization, wait and see what will happen next in the future.

[chanc3r]

Binance everywhere, hope we are not going into centralization in a decentralized revolution? Time will tell and I am expecting institution to come up and join this revolution and makes things more competitive.

Unfortunately binance has always actively making innovation and that's the fact. Other exchange might be doing the same thing but binance always stealing the spotlight. competition is always welcome because it gives us more advantages but until now very few it seems that come close to binance but in my opinion the crypto is not always focused on binance alone its just that binance maybe have good promotion team lol.

[Nalbo]

It's a great business strategy of Binance to mold them according to the local priorities and laws. With US citizen being blocked from the exchange, they create a local exchange curated just for US citizens and abiding by the rules of the nation. They are not letting anyone be left behind. They even catalyzed P2P and OTP trading in China and it's been rumored that they are in talk with the Chinese authorities to let Chinese trade crypto once again. But it would surely come with a lot of restrictions like the US version.

[benthach]

Binance card launched in Europe, enabling binance users to convert and spend BTC, BNB, SXP, BUSD to fiat. Binance card worked like traditional debit card powered by Swipe Plarform. Balance on the card will remain to be in the form of BNB coin until the point of sale which users can convert it into either cryptocurrency or fiat.

Source: https://www.binance.com/en/blog/421499824684900740/Binance-Card-Launches-in-Europe

i preferred cash app by square, which already available in the u.s

[Tomohisa]

Binance everywhere, hope we are not going into centralization in a decentralized revolution? Time will tell and I am expecting institution to come up and join this revolution and makes things more competitive.

Binance only a fraction of the upcoming crypto payment card. They're the leading one, of course, but soon plenty other will follow and implement it. A single centralization service take a lead and many other follow suit till it become decentralized so don't worry.

[tvplus006]

Looks like a decent competitor to Coinbase card, Revolut and MCO's card.

There isn't any information on whether you need to register your personal details with the exchange to use the card (e.g. complete KYC/AML check).

If not, the this could be an absolutely killer tool for us that want to make the switch to pure crypto payments.

I've registered my interest, we'll see what they want in August.

I'm still in the month of April has seen this information that to obtain the card requires passing the complete verification. But for those who have previously passed KYC, re-verification is not required. This will be similar to issuing a debit card by a regular Bank.

[jakedeez]

Looks like a decent competitor to Coinbase card, Revolut and MCO's card.

There isn't any information on whether you need to register your personal details with the exchange to use the card (e.g. complete KYC/AML check).

If not, the this could be an absolutely killer tool for us that want to make the switch to pure crypto payments.

I've registered my interest, we'll see what they want in August.

I'm still in the month of April has seen this information that to obtain the card requires passing the complete verification. But for those who have previously passed KYC, re-verification is not required. This will be similar to issuing a debit card by a regular Bank.

indeed
nothing new   

[filterMX]

Currently, Binance is launching various benefits to increase investor interest in investing in the world of cryptocurrency, and for the steps taken Binance is very precise and I also can't wait to have the card.

[TopTort777]

Most of Binance exchange traders could become their potential customer for this card. Smart move by Binance to use their token for the conversion.

Why only "their token" ? In description it is mentioned that card owners can transfer anything from their binance account to card account.

Most important question - will this card be accepted? As far as I understand, it has no VISA, MASTERCARD, AE, MAESTRO on it. Will regular shops accept these kind of card with weird design? Or cashier will deny accepting it, even thought transaction would be successful?

[imstillthebest]

Most of Binance exchange traders could become their potential customer for this card. Smart move by Binance to use their token for the conversion.

Why only "their token" ? In description it is mentioned that card owners can transfer anything from their binance account to card account.

Most important question - will this card be accepted? As far as I understand, it has no VISA, MASTERCARD, AE, MAESTRO on it. Will regular shops accept these kind of card with weird design? Or cashier will deny accepting it, even thought transaction would be successful?

did you read the description of this card already ? thats strange  . if its a card based it should support the brands you list above or else its use will be limited  only  . if that is the case then it wont be market verry well because there are lots of competitors can offer better support for thier crypto credit/debit cards but this is only a new thing to binance  , later on they will also make fixes to this .  this is useful if your already using binance because you can use your binance balance on the go 

[popeye95]

Most of Binance exchange traders could become their potential customer for this card. Smart move by Binance to use their token for the conversion.

Why only "their token" ? In description it is mentioned that card owners can transfer anything from their binance account to card account.

Most important question - will this card be accepted? As far as I understand, it has no VISA, MASTERCARD, AE, MAESTRO on it. Will regular shops accept these kind of card with weird design? Or cashier will deny accepting it, even thought transaction would be successful?

I think this is a non-issue if you know about VISA and MASTERCARD and domestic ATM card, they can be used as long it follows the card's technical aspect.

[Natalim]

Getting bigger and bigger, more great news for Binance and I would expect that they will be in the top soon, next to bitcoin.
I like it, hopefully one day they'll roll this out that will be available to everyone so transaction would be easy.

I haven't read the details yet but I think if you have a balance in your binance account, you'll be able to fund the card, right?

[kesmex]

Most of Binance exchange traders could become their potential customer for this card. Smart move by Binance to use their token for the conversion.

unfortunately it is still in Europe, not all over the world, if there is a crypto currency machine it would be very interesting and of course it would be amazing for crypto currencies, we can withdraw anytime on the streets