Crypto cashback cards became quite popular after crypto.com blasted the entire world with millions of advertisements. It used to be the best cashback card around but they kept on cutting rewards until they lost their competitive advantage.

Not using a cashback card is like throwing money away. Everyone has expenses that can be paid by credit card, might as well get something back every time you spend money. It's like having a 2% discount on every single purchase!

I had my Binance card lying around and after getting my CRO rewards cut in half I decided to start using my Binance card instead. It offers a 2% cashback if you hold an average of 1 BNB ($267) over the last 30 days. There are other tiers that give you higher cashback rates but the 2% tier is the most efficient in my opinion.

I think the Binance card is not available for US clients yet but hopefully, it will be in the future. Once crypto regulations become clearer and binance starts playing nice with us regulators (filling some pockets).

Cashback Limits

There's a limit to how much you can earn each month from cashback each month. For my level, the limit is 100 Euros which means I get money back from every purchase until I spend over 5 000 Euros. Tier 3 and 4 also have a 5,000 euros monthly expense cashback limit. My monthly expenses are way below 5,000 so I can always enjoy my cashback without any worries.

How to use it

The money you use to make purchases will be deducted from your funding account within Binance. Before you start using the card you define an order of priority for which cryptos you would like to spend first, I would recommend putting stablecoins at the top of the list because there's no point in wasting your crypto during the bear market.

After using the card for the last few months I'm extremely happy with the ease of use and functionality. All I have to do is transfer some crypto into my funding wallet and go about my day. The Celsius fiasco forced me to sell some of my Hive to deal with some of my expenses while I cover the hole it left in my finances. Using Hive to pay for everyday stuff was never easier, all I have to do is transfer it to Binance (which takes 1 minute), then convert it to BUSD and transfer it to the funding account.

This card is a lifesaver for someone like me that deals with crypto every day. Now I can just use it for my expenses without having to sell it and wait for it to reach my bank account and I get two percent cash back. I forgot to mention it is completely FREE! Most banks charge a yearly fee and offer 0% cashback... Crypto does it better.

Posted Using LeoFinance ^Beta