Binance announces up to 8% cash back with its Bitcoin debit card by doing BNB staking
In a statement confirming that the Binance Card is now available in England and Europe, the crypto exchange revealed the cashback rates available for this long-awaited bitcoin debit card.
Thus, the announcement indicates that the cashback rate will depend on the number of BNB tokens the user has in their Binance account.
Cash back is the money you are refunded on the amounts you buy with this crypto debit card.
A cashback rate that ranges from 1 to 8% depending on the number of BNB tokens in staking on all of the user’s accounts (spot market, staking, futures, margin trading, etc.), this is therefore cumulative to arrive to the number of BNB tokens required to obtain the desired cashback rate.
To get a 8% cashback rate, you must therefore hold 6,000 BNB tokens.
The Binance Card cash back rate of 3% for 50 BNB tokens is already more affordable and only requires a number of 50 BNB coins.
Depending on the repayment rate you want to get with your binance Bitcoin bank card, you now know how many BNB tokens you need to hold in your account.
The Binance Card is a Visa crypto debit card accepted worldwide that also allows you to withdraw cash from ATMs.
Google Pay and Samsung Pay
Another important detail about the Binance Card is the ability to link this card to Google Pay and Samsung Pay in order to use it for payments on these platforms.
There are no registration or maintenance fees for this Binance crypto debit card.
In order to use the Binance Card in shops and internet stores, you will need to load it first with BTC, BNB, SXP, or stablecoin BUSD.
These funds are then debited when you make a purchase from a merchant or when you withdraw cash from an ATM.
Binance says there are no fees for transactions in euros.
A new Bitcoin bank card which will therefore have to find its place in the face of well-established competition, such as the Bitcoin MCO bank card which offers 50 dollars as a welcome bonus when you order a card from them, read our article on this subject: click here.
Crypto.com is very aggressive in marketing in order to attract new users, with Binance benefiting from a fleet of millions of users on its leading global crypto exchange.
If you want to order a Binance Card, just create a free account: click here.