Bitcoin adaption seems to be the buzz of the town these days and while Bitcoin price movement is a reason of concern Bitcoin adaption has been hearing good words and nothing else.
Now banking on the same, Binance is about to roll out its latest product that would enable crypto users to buy goods and services with their digital assets, the special feature in this product would be that user would not have to locate the merchants who accept Bitcoin and users would not have to exchange their cryptocurrency into fiat either.
Per an announcement from the leading crypto exchange Binance, the crypto exchange would release Visa-powered payment cards which would be accepted by over 46 million merchants all over the globe.
Binance card and Bitcoin adaption
Binance also informed the users that they can fund this new Binance card with Bitcoin (BTC) or BNB token by using Binance Card App. The Binance Card, just like debit card uses the credit on the card for settling payments. Binance expects that Bitcoin adaption and cryptocurrency adaption as a whole would increase many-fold by the new product.
The cost of the Binance Card is $15, and in order to pay, users are required to transfer the equivalent amount in Bitcoin or BNB token from their wallets to the balance of the card. Then Binance will transfer the order. Moreover, users were also informed that no fee will be charged monthly or annually.
Currently, the card is available in the beta version as a virtual card. The physical card is going to be rolled out soon. Initially, it would be released to users in Vietnam and Malaysia.
Binance intends to introduce the Binance Card to its users around the globe in a couple of weeks. Reportedly, there are more than 15,000,000 users of Binance worldwide.
Featured Image by Binance