Binance Credit Card: Review, Costs & Cashback (2023)

  • Home
  • Binance Credit Card: Review, Costs & Cashback (2023)
Find out everything about the Binance credit card. We reveal what the fees are incurred, what the cashback rates look like and everything else you need to know.

A large number of crypto exchanges not only offer trading in various cryptocurrencies but also offer their own users the option of using a credit card. The crypto exchange Binance is one of these providers.

In our Binance card review, we share our experiences on the fees and costs of the VISA card. We also go into more detail about the functions of the Binance card and its cashback program. Our experience report reveals exactly whether using the Binance credit card is worthwhile.

The functions of the Binance credit card

functions of the Binance credit card

Binance’s VISA credit card provides access to the global VISA network, enabling payment at over 60 million merchants. In addition, Binance card supports both Google Pay and Samsung Pay, so that a corresponding smartphone can be linked to the credit card, for example. This enables fast and contactless payment in all shops that support these payment methods. It is a pity, however, that Apple Pay is not supported.

Also, the platform offers a practical feature: immediate and direct crypto-to-fiat conversion. This feature enables the exchange of held crypto coins for the relevant fiat currency during credit card payments. It’s important to note that this functionality is specific to the cryptocurrencies approved for credit card transactions and doesn’t apply to all assets held in the Binance account. Managing the preferred order of cryptocurrency usage is a simple task within the Binance Dashboard.

It’s worth highlighting that the Binance card operates as a debit card. This means that the paid amounts are directly debited from the Binance account, ensuring seamless and efficient transactions.

Binance Visa Credit Card: All Information

Credit card type Debit card
Credit card issuer VISA
Crypto to fiat support Yes
Google Pay Yes
 Samsung Pay Yes
Apple Pay No

How to get and use Binance card?

Acquiring and utilizing a Binance Card is a straightforward process that adds a layer of convenience to your cryptocurrency experience. Here’s a simple guide to help you obtain and make the most of your Binance Card:

Getting Your Binance Card:

  1. Access Your Account: Log in to your Binance account. If you don’t have one yet, you’ll need to sign up for a Binance account first.
  2. Navigate to Card Dashboard: Once you’re logged in, head over to the Card Dashboard section. This is where you’ll manage your Binance Card and its functionalities.
  3. Apply for a Card: Within the Card Dashboard, you’ll find the option to apply for a Binance Card. Follow the prompts and provide any necessary information for verification.
  4. Card Selection: Choose the type of Binance Card you want. Binance often offers different tiers or options, each with its own set of features and benefits.
  5. Verification and Approval: Complete any required verification steps, which may include providing identification documents. Once your application is approved, you’ll receive your physical Binance Card.

How to activate Binance card

How to activate Binance card
Binance Card Activation

Wondering how to get your Binance Card up and running? The activation process is a breeze and can be done right from your Card Dashboard. Here are 3 simple steps to help you through it:

  1. Access Card Dashboard: Log in to your Binance account and navigate to the Card Dashboard.
  2. Enter Card Details: Provide the last four digits of your physical Binance Card. This ensures that you’re linking the correct card to your account.
  3. CVV Input: Input the 3-digit CVV (Card Verification Value) located on the back of your Binance Card. This step enhances security and authentication.

Voila! With these easy steps completed, your Binance Card is now successfully activated and ready to use.

Using Your Binance Card

  1. Card Transactions: Your Binance Card functions similarly to a traditional debit or credit card. You can use it for online and offline purchases at locations that accept card payments.
  2. Crypto Conversion: One of the key advantages of the Binance Card is its ability to convert your cryptocurrency holdings into fiat currency in real-time. This allows you to spend your crypto assets seamlessly.
  3. Card Management: Keep track of your card balance, transaction history, and other details through the Card Dashboard on your Binance account.
  4. Security Measures: Binance employs security features to safeguard your card and funds. You might be required to verify transactions with authentication codes or biometric data.
  5. Enjoy the Benefits: Make the most of the perks offered by your chosen Binance Card tier, which could include cashback rewards, discounts, and more.

By following these steps, you can easily obtain, activate, and utilize your Binance Card to enhance your crypto journey and make everyday transactions more convenient.

Read also: What is Binance Web3 Wallet?

Binance card fees at a glance

Binance describes its own Visa credit card as the cheapest version on the financial market. The company scores above all with really low usage fees:

Binance credit card: an overview of fees and costs

Annual fees $0.00
Sign up fees $0.00
Second issuance of the credit card $25.00
Inactivity fees $0.00
ATM withdrawal fees $0.00
Transaction fees $0.990

Thus, the fees are actually particularly cheap and the fact that there are no fees for issuing the first credit card or even annual fees should surprise many users positively.

Personally, I find the fees and costs of the Binance credit card to be fair, transparent, and appropriate.

Our experiences with the Binance credit card and cashback

Similar to the classic cashback of a “normal” credit card, the Binance card offers cashback for every confirmed and settled purchase.

But unlike cashbacks from mainstream providers, which typically credit you in a fiat currency, Binance Card rewards you with in-house Binance Coin, also known as BNB. The cashback system deposits these rewards into your funding wallet on a daily basis.

This is the virtual wallet that stores the money that users can access with their own card. The average total amount of BNB holdings in Binance wallets over the last 30 days (see the table below) determines the cashback amount. The Binance credit card offers a maximum cashback of 8 percent per payment.

In my test of the Binance card, the functionality of the Binance card was positive. It consists of converting cryptocurrency into fiat currency at the point of sale, allowing users to use their cryptocurrency as a form of currency to pay for goods and services.

What is the Binance card cashback program?

Binance is offering special incentives to credit card holders by holding the Binance token BNB. This means that the more BNB a credit card holder holds, the more advantages they can enjoy when using the credit card. The card’s cashback system in particular offers particularly attractive conditions. In order to receive the cashback, the token must be held for at least 29 days.

The following tier system applies to the credit card cashback program:

Binance card (level) Monthly held Cashback rate
1 O BNB 1%
2 1 BNB 2%
3 10 BNB 3%
4 40 BNB 4%
5 100 BNB 5%
6 250 BNB 6%
7 600 BNB 8%

At this point, however, I have to criticize my experiences with the Binance credit card.

In practice, the 8% cashback is unrealistic for an average Joe.

Nevertheless, I like that as a regular investor, you can realistically get between 2 and 4 percent cashback with the Binance Visa credit card.

How does Binance process credit card refunds?

In terms of refunds, the Binance card works like most other cards: the business can refund the money directly to the card, after which it will appear in your fiat currency balance within a few days – regardless of what cryptocurrency I used when purchasing the goods or services in that particular transaction.

If a refund occurs, Binance will naturally deduct the cashback amount from my wallet. Since the value of BNB can be volatile, the amount withdrawn will always have the same euro value as originally granted, which is fair and sensible.

Alternatives to the Binance credit card

Alternatives to the Binance credit card

In our comparison of crypto credit cards, Binance can assert itself as the best provider – not least because of the relatively high cashback rates and the really low fees.

The automatic transfer from cryptocurrency to fiat currency when paying is also a rarity that is not always offered by the competition.

The Binance credit card does not offer any really major disadvantages: the lack of support for Apple Pay is definitely annoying and annoying for some Binance users. In addition, the cashback link to the Binance Coin (BNB) is also not optimal and should also be a disadvantage for some Binance users.

However, this system is common practice. In our review of, we have already shown that the use of the Cronos Coin (CRO) is directly related to the credit card. For this reason, we also see the Binance credit card as the best alternative.

Anyone looking for a larger selection with different features will find five different credit card offers at In terms of usage and features, we advise everyone to take a look at Bitpanda, which can really offer a lot in this regard.

Conclusion on the Binance card review

Ultimately, my experience with the Binance credit card shows that the crypto exchange actually scores with a rock-solid product the low fees, ease of use and good cashback rate are convincing. The crypto-to-fiat payment method is also really convenient and noticeably reduces the work that users have to put into using it.

Since Binance itself is also one of the largest and most well-known crypto exchanges in the world, we can only recommend the card to anyone looking for a corresponding debit card.

Related: Binance Review 2023


Frequently asked questions (FAQ) about the Binance card

In this section, we provide answers to the most important questions about the Binance credit card.

  • How much does the Binance credit card cost?

The Binance credit card is completely free as there are no annual fees or issuance fee. Transactions only incur fees of up to 0.9%.

  • How long does it take to get the Binance credit card?

You can conveniently request the Binance credit card through the website. Once approved, you can virtually use the credit card immediately. However, it takes between one and three weeks for the physical version of the Binance credit card to arrive via post.

  • Can you cancel the Binance credit card?

Using the Binance Portal, you can not only freeze your own credit card, but also cancel it completely. You can complete this process within a few minutes, and once you’ve entered the 2FA code, it cannot be undone.

  • Does the Binance card support Apple Pay?

If you have a Binance credit card, you can not only use it in VISA shops, but also use it to pay via Google Pay and Samsung Pay. However, Binance do not currently support Apple Pay