“Cryptocurrency giant” exchange Binance has published an announcement about its cashback program aimed at Binance cardholders. What is a Binance Card? And what are the new cashback options? How to get extra BNB?
The Binance Card: a crypto card for shopping
Who says cryptocurrencies are useless and can’t be applied to buy everyday products?
Binance Card is a bank card that works via the Visa network. Thus, you can use it with all vendors that accept Visa cards. This card is linked to your cryptocurrency wallet. It converts cryptocurrency to fiat currency instantly. So, you can use it every day!
Binance is not the only exchange offering this type of product. Crypto.com and Coinbase, for example, also offer their Visa cryptocurrency card.
Apart from the fact that you can use your cryptocurrencies, this card gives you cashback. As a reminder: cashback allows you to earn money by spending. Specifically, a percentage is applied to the transaction amount made with your card. This percentage is then added directly to your card. Let’s find out more about it.
New cashback program (extra BNB to wallet)
Binance has just announced a new cashback schedule for Binance cardholders. This grid is aimed at current cardholders, but the exchange hopes to attract new customers with this benefit. The promotion starts on 10 June 2022 and will run until 31 October 2022.
With the Binance Card, the cashback is determined according to the amount of BNB cryptocurrency you own or the amount of your monthly transactions made with the card. Specifically, levels are defined as follows:
- Level 1 :
– Less than one BNB or less than $799 of monthly transactions;
– Cashback: 1%
- Level 2:
– 1 to 9 BNB or $799 to $1,499 of monthly transactions;
– Cashback: 2%
- Level 3:
– From 9 to 39 BNB or from $1,499 of monthly transactions;
– Cashback: 3%.
This new scale is more attractive than the former one. For example, previously, if you had a level 1, your cashback was only 0.1%. So, are you tempted to get the Binance Card?