Is Binance card discontinued? (2024)

Is Binance card discontinued?

Unfortunately, the Binance card ceased operations in December 2023, citing regulatory reasons. While the card's end of service left users searching for another option, it paved the way for new alternatives to take center stage.

What happened to Binance's Visa card?

The closure of the Binance Visa service is the latest in a string of setbacks for Binance. The end of Binance Visa card services was announced a day after the exchange restored euro deposits and withdrawals, which had been unavailable for a month after payments processor Paysafe dropped the exchange.

Why did my Binance card stop working?

This year, Binance faced legal difficulties from the SEC and was unable to renew the program. Binance Visa cards will stop working in the EU and European Economic Area on December 20, 2023. Fortunately, there are alternatives. Let's look at three cryptocurrency cards that can continue to be used in 2024.

Is Binance blocked in the US?

You can use a VPN to trade on Binance.US from the US securely, but the full Binance website is blocked. You can theoretically use a VPN to change your IP address and unblock Binance from the US, but this goes against the government's rules and regulations.

Does Binance card exist?

Binance Card is a Visa debit card that is linked to your Binance account, and it allows you to spend your cryptocurrency like cash wherever Visa is accepted. This includes being able to withdraw cash from ATMs that accept Visa debit cards.

Is the Binance card coming back?

The Visa Debit Card Program for Binance is Being Canceled. This past December Binance said on its blog on October 20 that it will cease offering Visa Debit Card Services in the European Economic Area (EEA), which consists of all 27 EU member states plus Iceland, Lichtenstein, and Norway.

What will happen if Binance shuts down?

Depending on the reason for the shutdown, Binance could face legal actions, asset freezes, or hacking attempts that could jeopardize the security and availability of the funds. Users who store their crypto assets on Binance would risk losing their money or having to wait for a long time to get it back.

Is Binance in trouble?

“Binance's and Zhao's willful violations of anti-money laundering and sanctions laws threatened the U.S. financial system and our national security, and each of them has now pleaded guilty. Make no mistake: when you place profits over compliance with the law, you will answer for your crimes in the United States.”

Where is Binance card available?

Which countries is Binance card available? Binance Card is available to Binance users living in the following countries: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary and many more.

Is Binance card safe?

Security: The Binance Card comes with advanced security features, including 3D secure and real-time transaction alerts, ensuring that users' funds are always safe and secure.

Which states is Binance banned?

In response, Binance and other investors opened Binance.US, a separate exchange designed to comply with all applicable US federal laws, which nonetheless is banned in six states: Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.

What happened to Binance in usa?

Binance US has been the target of several lawsuits over its financial dealings, prompting a review of its offerings. As a result, dollar deposits were frozen this summer, a prelude to the present withdrawal restriction. Customers will have to adjust how they get at their funds because of the alterations.

Why was Binance banned?

Authorities said Binance manipulated exchange rates through speculation and rate-fixing, leading to the devaluation of the naira. The government also accused the company of terrorism financing and money laundering, saying $26 billion worth of transactions on the platform were untraceable.

How to get a Binance card?

Is Binance card a debit card?

Binance Visa Debit Card operates like a conventional debit card but with a crypto twist. It allows users to hold digital assets such as BTC, BNB, and BUSD.

How long does it take to get a Binance card?

Depending on the country of residence, it generally takes about 1-3 weeks for the Binance Visa Card to get delivered. But if you wish to start using your Binance Card, you can do it via Google and Samsung Pay.

Why did Binance back out?

With Binance backing out of its plans to acquire FTX, citing problems with the company's finances as well as potential regulatory investigations, the ongoing crypto rout has deepend.

Is Binance removed from Play Store?

April 23 (UPI) -- Philippine market regulators said Tuesday they had ordered Apple and Google to remove the apps of the virtual cryptocurrency exchange operator Binance from their app stores to protect investors from the threat to their financial security posed by the digital assets.

Is Binance no longer supporting Mastercard?

Global credit card behemoth Mastercard and leading cryptocurrency broker Binance have decided to part ways, according to a Reuters report. The partnership consisted of Binance offering a Mastercard-branded card to its users Argentina, Brazil, Bahrain, and Colombia.

Is Binance in danger of collapsing?

In the short term, Binance will likely lose some of its market share as a consequence of its compliance with regulators, Danny Lim, core contributer at MarginX, a perpetual decentralized exchange (DEX) said. Longer term, it could regain market dominance.

Will Binance survive?

The company will survive, however, even though its founder and CEO, Changpeng Zhao, was forced to step down as part of his plea agreement. In the world of federal white-collar prosecutions, where the government usually gets what it wants, Binance's survival is a victory for the defense.

What happens to trust wallet if Binance goes out of business?

In any case, even if Trust Wallet goes bankrupt, as long as you have the recovery phrase, you can recover your assets once on the blockchain. All users of crypto wallets should always save their recovery phrases manually in case such an event occurs.

Why are people leaving Binance?

Key Binance executives who have been helping the world's biggest cryptocurrency exchange navigate a widening regulatory crisis, including US allegations of fraud, are leaving the company along with many of its US employees, according to people familiar with the matter.

Is Binance getting banned?

🇮🇳 After paying a penalty of $2,000,000, Binance, the world's largest crypto exchange, is set to restart operations in India. 🔒 Previously banned for non-compliance with anti-money laundering laws, Binance's return is a game-changer for over 115 million crypto users in India.

Why is Binance under investigation?

The CFTC brought civil proceedings against Binance in March 2023 for failing to put in place an anti-money laundering program that would have identified and stopped dirty money transactions such as the financing of terrorism and illicit drug sales.