The Binance Card offers users cashback based on their BNB holdings and card level, with various benefits across seven levels, and enables Europeans to spend cryptocurrencies at over 60 million outlets.
Binance’s Card offers cashback determined by the card level, which relates to the user’s BNB holdings. Cashbacks are calculated daily, but refunds might lead to deductions. The card has seven levels, with cashback rates ranging from 0.1% to 8%. Users can view cashback in their Transaction History, and some transactions don’t qualify. Each level has a monthly cashback limit, from 5 EUR to 100 EUR. For Europeans, the Binance Card facilitates crypto spending at over 60 million places. Users need to register, verify, and can manage the card via the Card Dashboard.
Binance Card Cashback
Binance, a renowned platform in the cryptocurrency world, offers the Binance Card which has a cashback feature designed to reward its users. Here’s everything you need to know about it.
Understanding the Binance Card Cashback Program
The Binance Card cashback system is quite straightforward:
- Users receive a cashback for every eligible purchase made with the card.
- The percentage of cashback is determined by your card level, which is contingent on the amount of BNB you hold in your Binance wallets.
- The cashback amount is calculated daily for each purchase that has been settled from the previous day.
- Binance promises to continually expand and add new perks to this program.
However, should a refund occur, Binance reserves the right to subtract the cashback. The deducted BNB sum is worked out from the initial EUR amount of the cashback on the settlement date and then converted to the BNB amount on the deduction date. This ensures the deducted amount retains the same EUR value as originally given.
To optimize your cashback rewards, it’s advised to use the Binance Card directly for payments instead of third-party e-wallets.
Go to Binance’s Official Website
Binance Card Levels and Their Benefits
Binance offers 7 card levels, each granting a varying percentage of cashback rewards:
| Card Level | BNB Monthly Average Balance* | BNB Rewards for Your Purchases |
|---|---|---|
| 1 | 0 | 0.1% |
| 2 | 1 | 2% |
| 3 | 10 | 3% |
| 4 | 40 | 4% |
| 5 | 100 | 5% |
| 6 | 250 | 6% |
| 7 | 600 | 8% |
Your card level can be checked in the [Card Dashboard] under the [Card Info] section or within the transaction history.
Viewing Your Binance Cashback Earnings
To see your earned cashback rewards, you can navigate to the [Transaction History]. Once a purchase is settled (usually a few days post-purchase), the cashback is calculated and then transferred to your Funding Wallet. Certain transaction types, including those involving digital wallets, digital banking services, and crypto exchanges, are exempted from the BNB Rewards program.
Lifetime Cashback Earnings Explained
Lifetime Cashback Earnings refer to the total cashback rewards you’ve received in your Funding Wallet since joining the program.
Monthly Limits on Binance Cashback
| Card Level | Monthly Cap (EUR) |
|---|---|
| 1 | 5 |
| 2 | 15 |
| 3 | 25 |
| 4 | 40 |
| 5 | 50 |
| 6 | 75 |
| 7 | 100 |
The monthly cap resets at the start of each month.
Go to Binance’s Official Website
Using the Binance Card
The Binance Card allows European residents to convert and spend cryptocurrencies in over 60 million online and physical stores. Ordering and using the card involves a few key steps:
- Registration and Verification: Firstly, create a Binance account and complete the Identity Verification (KYC).
- Ordering the Binance Card: Add a phone number from an EEA country to your Binance account for security, then navigate to [Finance] and select [Binance Visa Card].
- How to Use the Card: Top up your card by transferring assets from your Spot Wallet to the Funding Wallet. You can also view card details and manage the card from the Card Dashboard.
- Making Payments: With the Binance Card, you can spend cryptocurrencies in over 60 million outlets.
For further details, you can refer to the Frequently Asked Questions section provided by Binance which addresses card delivery, card details, costs, security, linking to payment systems, and eligibility criteria.
Stay savvy and make the most of your Binance Card and its rewarding cashback program!
FAQs about Binance Card & Cashback
- 1. How does Binance Card’s cashback system work?
- Binance Card offers cashback on every eligible purchase made with the card. The cashback percentage is based on your card level, which is determined by the BNB holdings in your Binance wallets. Cashbacks are paid daily in BNB to your Funding Wallet. It’s important to note that cashbacks are calculated for each “settled” purchase from the previous day, which means after the seller has received the funds, taking up to 18 days. If you get a refund, Binance might deduct the cashback.
- 2. How are card levels determined and how do they affect cashback?
- Binance Card has 7 card levels, with each level offering a different cashback percentage. Your card level is determined by the BNB monthly average balance, which is the average holdings of BNB in your Binance wallets for 29 days before the current date. The more BNB you hold, the higher your card level and the more cashback you earn.
- 3. Where can I view my Binance Cashback?
- Cashback rewards can be seen under the [Transaction History] along with the original purchase details. They are transferred to your Funding Wallet once the purchase is settled, which can take a few days.
- 4. What are Lifetime Cashback Earnings?
- Lifetime Cashback Earnings refer to the cumulative cashback rewards you have received in your Funding Wallet since the start of the cashback program.
- 5. Is there a monthly cap on Binance Cashback?
- Yes, each card level has a different monthly cap on cashback rewards, ranging from 5 EUR to 100 EUR depending on the card level. The cashback limit resets every month.
- 6. How do I get and use a Binance Card in Europe?
- European residents can get a Binance Card to spend cryptocurrencies in over 60 million locations. To get one, register a Binance account, complete Identity Verification, and follow the provided steps to order. Once you have the card, you can top it up, view details, and manage your spending priorities through the Card Dashboard.
- 7. Are there any restrictions or exclusions for Binance Cashback?
- Certain types of transactions, such as those involving digital wallets, digital banking, crypto exchanges, stored value products, and money remittance services, are excluded from the BNB Rewards program. Moreover, Binance has the discretion to change the list of qualified merchants and conditions for the cashback program.
Please check Binance official website or contact the customer support with regard to the latest information and more accurate details.
Binance official website is here.
Please click "Introduction of Binance", if you want to know the details and the company information of Binance.
Comment by Hans
April 24, 2024
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