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– TIMESTAMPS –
1:44 Binance Enters Crypto Card Market
4:14 Europe & UK launch
7:14 My Binance Card Predictions
10:02 Things To Know
12:22 Country Support
13:00 Final Thoughts
📺 Recommended Videos 📺
Want to assess options whilst waiting for that Binance card? Why not check out my other other crypto card videos?
► Crypto.com Review: The best crypto card? 👉 https://www.youtube.com/watch?v=Ugmi1fIDrIQ&t
► The Top Crypto Cards Compared! 👉https://www.youtube.com/watch?v=MB7gIZ1COR0&t
⛓️ 🔗 Useful Links 🔗 ⛓️
► Binance card announcement: https://www.binance.com/en/blog/421499824684900479/Introducing-the-Binance-Card-Shop-and-Pay-With-Crypto-Anywhere-in-the-World
► Swipe acquisition: https://www.coindesk.com/binance-acquires-crypto-debit-card-provider-swipe-for-undisclosed-sum
► Swipe Binance research report: https://research.binance.com/en/projects/swipe
► CZ beta testing Binance card: https://twitter.com/cz_binance/status/1281593589982621696
► European & UK launch: https://www.binance.com/en/blog/421499824684900740/Binance-Card-Launches-in-Europe
► BNB cashback tweet: https://www.binance.com/en/blog/421499824684900740/Binance-Card-Launches-in-Europe
📝 Overview 📝
Thinking about getting your hands on a crypto card? Well, you may want to hold off for a bit! The reason why is that Binance is throwing their hat into the crypto card ring.
In this video, I tell you everything we know about the Binance card so far and I reveal my thoughts on what I am expecting…
🔫 Binance Declares War On Crypto.com 🔫
Back in April 2020, Binance announced it would be getting involved in the crypto card game. Now, I’m going to level with you, I was a little disappointed about that announcement. The idea of paying $15 and getting a Binance card at some point in the future didn’t seem that great a deal.
Even worse, there didn’t seem to be anything special about this card. All it seemed to be was a bog standard Coinbase card that you had to pay for.
Binance then acquired the crypto card provider Swipe on the 7th July for an undisclosed fee. On the same day, Binance also released a Binance research report on Swipe and announced that Swipe’s SXP token would be listed with BTC, BNB and BUSD trading pairs.
Three days later, CZ announced he was beta testing the Binance card and had even made several real-world transactions on it.
🇬🇧🇪🇺 Binance Card Launching In Europe & UK 🇪🇺🇬🇧
On the 14th of July, Binance told the word that they would be rolling out their new card to Europe and the UK. The key takeaways from that announcement were:
► The card will support BTC, BNB, SXP & BUSD
► Card users will get full exposure to the price of crypto until they spend it on the card
► If you get the card you’ll be able to recharge the card directly from your spot wallet on the exchange
💳 What Is Swipe? 💳
It appears that the Binance card will be issued as a white-label product via Swipe – that acquisition is starting to make sense now.
Looking into the cards offered by Swipe, I found that two different cards were offered.
► The basic card doesnt require you to stake any SXP tokens. Perks are similar to the Crypto.com blue card, with 1% cashback on offer.
► The premium metal card offers 4% cashback and requires you to stake a cool 30k SXP tokens to get it. That’s about $45k worth of crypto.
It doesn’t really make sense that Binance would allow Swipe to offer a better card product. After searching the internet, I did find a Binance tweet mentioning BNB cashback, so I am pretty confident now that these new cards will offer this perk.
🌎 When Can You Get A Binance Card? 🌎
France and Spain are the first European countries to get their hands on this card. With the evidence I have uncovered, I expect the cards to start hitting the streets in Spain and France around the end of August or early September.
So, my top tip to anyone living elsewhere in Europe is to register interest in the card and make sure you’re first in line to get one.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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