The card is easily topped up with SEPA, iDEAL or credit card deposits of Euros. Major crypto exchange Binance has announced that it will be joining forces with Swipe to launch its crypto debit card. Swipe already offers its own crypto Visa debit card via Contis Financial Services Ltd, a Visa member that is licensed by the U.K. Financial Conduct Authority. JL: Besides aesthetics (card design) and platform (Binance.com vs Swipe Wallet app), nothing besides perks and cash back potentially. SXP tokens will be burnt on the Binance card side. Doesnt that create some competition for binance US? That way they get all the infrastructure for free and they get the profits from other Swipe-based licensing deals. Probably moving closer together with all features. You can register for Binance card, but expect a few months for production anyway. The Swipe Wallet is also a fiat on/off ramp for users around the world. Binance's highly-anticipated Swipe-powered crypto debit card, Binance Card, is officially debuting in countries of the European Economic Area, or EEA. 1.4 The Terms, as amended from time to time, are available to you on the website for the service (https://swipe.io, the "Website") and relevant mobile apps. Binance then implements a reward plan however they'd like: have people stake BNB, get back cashback in BNB, etc. Your card is linked to a Card Wallet within your Binance account, and you can replenish this wallet with funds stored in your Spot Wallet. Binance then implements a reward plan however they'd like: have people stake BNB, get back cashback in BNB, etc. Binance card - With the Binance Visa Card, you can convert and spend cryptocurrencies at more than 60 million merchants worldwide. Given we're currently under 100m circulating supply, 10m per year for the founders seems enormous compared to other projects. https://medium.com/swipe/swipe-reddit-ama-8-13-80690e2f6589. Press question mark to learn the rest of the keyboard shortcuts, https://www.youtube.com/watch?v=qHWrm7gP0fA. Swipe's business model is Cards as a Service (CaaS). If they can't get something like that right, isn't that a potential concern as to how they'll manage to steer the ship well in general? Currently, people testing the Binance Card are given a simple card without any cashback nor stake levels. Swipe Wallet is also coupled with the Swipe Debit Card that allows our users to spend their cryptocurrency in real time at over million locations worldwide. At the time of its announcement, Binance stated: Having the same problem here in Canada, my brother can add a new card or use/change his debit visa to buy crypto on Binance but I cant even add a new card, we are using the same bank. In that case, thanks to the Binance Card, I am still contributing to the Swipe ecosystem by paying fees there for you guys, even though I would have never touched the swipe wallet nor the card with a 10-foot pole. Best video on this: https://www.youtube.com/watch?v=qHWrm7gP0fA, New comments cannot be posted and votes cannot be cast, Swipe is a digital wallet application that enables users to buy, sell, and pay with their cryptocurrencies. Without Slate card You have to do it by yourself on-chain. I for one have a Binance Card, but no Swipe Card. Crypto exchange giant Binance is advertising bitcoin at London bus stops before launching its regulated platform for the UK users. Binance leverages the Swipe Issuing Premium package where they have staked 300,000 SXP and in turn receive lower merchant processing fees that they pay in order to use … Thanks u/EuW_MadWard this is super helpful. Binance Card works similarly to other crypto cards – when you’re making a purchase with your card, your cryptocurrency is converted to your local fiat currency, which then gets sent to the merchant. Surely, perks and everything will follow. The issuer will be a financial institution that is identified on your Cardholder agreement depending on your region. : if swipe WALLET fee are 1% from crypto to FIAT and for all the rest I saw that it is free (they remove the 1% fee in swipe CARD from crypto to FIAT) how swipe card will profit from the binance card adoption? Master card payments are available in the following countries & regions:Brazil, Colombia, Czech Republic, France, Germany, Indonesia, Italy, Latvia ... How to Buy Crypto with Credit/Debit Card on the Binance App. https://swipe.zendesk.com/hc/en-us/articles/360002643178-What-are-the-fees-associated-with-the-Swipe-Card-, https://swipe.zendesk.com/hc/en-us/articles/360002643398-What-are-the-fees-associated-with-the-Swipe-Wallet, If binance owns swipe. Thank you, Press J to jump to the feed. But Zhao admitted at the time that Binance was having difficulties implementing the new card—something Swipe should help fix. Swipe continues to push the Swipe Issuing platform products to businesses, like Binance, which will help the SXP deflationary ecosystem.. Current Swipe Saffron, Sky, and Steel Cards that are linked onto the Swipe Wallet App will be migrating to the Binance Card platform to further support a synced ecosystem of Card products for Binance.com users. Binance Card burns SXP as fees when a payment is made, because it is made on Swipe network. As far as I know, just branding. Consequently, SXP marks a 21% intraday increase. Binance Card burns SXP as fees when a payment is made, because it is made on Swipe network. The card supports payments with Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), Swipe’s SXP token, and its own stablecoin, Binance USD (BUSD). If you're an SXP investor yourself, would be super appreciative if you might reply. Sorry, this post was deleted by the person who originally posted it. Thanks to this partnership, the Philippines headquartered Swipe will be offering US […] I sure hope the Binance Card will have all the staking levels the Swipe one does, that's the main reason I'm not buying more SXP currently, waiting for the release. The Swipe Visa debit card comes in 2 different flavors: Swipe Saffron and Swipe Slate. The Binance Card, powered by Swipe, works like your traditional debit card, but instead of fiat, you'll be holding digital assets, such as BTC, BNB. In this Cryptocurrency Review, I talk about Swipe (SXP) the project with the Visa Debit card that allows you to spend your crypto anywhere ! We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. one more user in binance will not impact since fee are zero, moreover binance will bring their logic with BNB coin.. ++ On some business lines swipe is or it will be in overlap with Binance but I think that thet will cohesist well together and in the end swipe will be the right arm of binance. Hi! The Binance Visa Card utilizes the Swipe Issuing Platform to manage, issue, and utilize our real-time authorization engine to make converting and spending cryptocurrencies seamless at over 60 million locations worldwide. What’s the difference between Binance Card and Swipe Card? The official announcement made by the exchange on July 2 on its website, but this information was soon taken down. Binance and the Swipe team have committed up to a total of 100,000 SXP in rewards to celebrate the introduction of the Binance Card to users in the EEA region and the upcoming Christmas season. It has a seperate "wallet" that is accessible from the main Binance app, so that is top marks for integration! The Binance Card is, perhaps unsurprisingly, a crypto debit card launched by Binance. The card allows users to instant covert their cryptocurrencies to fiat … 1.3 The services of Binance Swipe Card are only provided in specific countries currently and will be expanded to other territories at our discretion. The Swipe Saffron card does not require any SXP stake and comes with a lower spending limit but includes a 1% cashback in Bitcoin (BTC while the Swipe Slate card comes with higher limits and 4% cashback in Bitcoin. Thank you, Press J to jump to the feed. Anyway my question is!! Can someone explain to me why Binance acquired Swipe if only to launch their own card? Currently, people testing the Binance Card are given a simple card without any cashback nor stake levels. Important thing is register interest, if you love what Binance has done for crypto, and will enjoy its ecosystem and increase value of BNB and SXP. The leading cryptocurrency exchange Binance officially announced the acquisition of the Visa debit card platform Swipe. This is all part of Swipe's CaaS business plan, the details of which you can find here: https://swipe.io/issuing. If not, I could definitely see it hampering price growth... - Second is, as you say, about how crappy the current Swipe wallet is! All payments made with the card will simply be subtracted from the balance. The Binance Card, powered by Swipe, works like your traditional debit card, but instead of fiat, you’ll be holding digital assets, such as BTC, BNB, SXP, and BUSD. Binance card and the Swipe team are together launching a promotion program to community, they have committed up to a total of 100,000 SXP in rewards. The leading cryptocurrency exchange Binance officially announced the acquisition of the Visa debit card platform Swipe. “Binance has partnered with Swipe to provide a Card platform for Binance users. Users are complaining that they are facing some errors with Swipe, a digital currency and fiat currency wallet. The fees are alittle higher but it's better than nothing. They are white labeling for Binance. Binance has also listed Swipe’s native cryptocurrency (SXP), which registered a massive price boost of 21%. In the Q2 of 2020, the bank reported about 0k in total assets and a net income of ,767. I sure hope the Binance Card will have all the staking levels the Swipe one does, that's the main reason I'm not buying more SXP currently, waiting for the release. Right now the Binance card is only available in its Beta version, without an official launch date. I know the first of these payments was just burned, but I guess there's no guarantee they will do this every year? Binance acquires the Visa debit card platform Swipe and lists its native cryptocurrency (SXP). Just transfer crypto. As this uses Swipe’s technology in the backend, major coins such as BTC, BNB, BUSD, and SXP can be used as a funding source.. Cashback and Extra Perks Register Binance Exchange Account And Complete Tasks Binance Visa Card will convert crypto funds automatically into the local currency, enabling you to spend cryptocurrencies seamlessly. Swipe And Binance Card Promotion – Tutorial As Below. Binance Card is basically a Swipe Card using the Binance UI. Using this card, users can purchase goods they want and pay with Ethereum (ETH), and other coins being supported by the service. I ask because I'm considering increasing my stake in SXP but just had 2 concerns: - First is about the token distribution schedule. Metal Pay. The functionality is the same and all of it is powered by SXP. Swipe is for sure a really interesting project as we all know. Why? Binance acquired a multi-asset digital wallet and Visa debit card platform; Swipe has partnered with Evolve Bank & Trust to tap the US market. Please use: https://swipe.zendesk.com for support as this Reddit channel is not checked by our support team and will be removed. Swipe.io just announced that they will be discontinuing their Sky and Steel tier cards and migrating most of their cards to Binance Card Program. Press question mark to learn the rest of the keyboard shortcuts. New comments cannot be posted and votes cannot be cast, Swipe is a digital wallet application that enables users to buy, sell, and pay with their cryptocurrencies. It's free fee from Binance to Swipe wallet, there will show a fee but it will refund instantly to your spot account. Confusing times. The acquisition of Swipe could accelerate the product launch and increase the number of tokens and cryptocurrencies available, in addition to BNB. Simply because the Swipe Wallet is unusable, unsafe and bug-ridden, while Binance UI just works. The cached version of the “Binance Card” FAQ section clearly reads: “Binance has partnered with Swipe to provide a Card platform for Binance users. It can also be funded directly with euros, Bitcoin, BNB and a small selection of other crypto. -- My doubts are as said in the releasing of the coin supply from company and staking that could overcome the token burn and the adoption. As per the announcement, Binance Card intends to support a total of four cryptocurrencies at the very start. It doesn't appear in any feeds, and anyone with a direct link to it will see a message like this one. Please use: https://swipe.zendesk.com for support as this Reddit channel is not checked by our support team and will be removed. Instant Card Withdrawals. I guess everyone having this problem needs to stick to P2P trading. Binance Card is basically a Swipe Card using the Binance UI. Swipe Wallet is also coupled with the Swipe Debit Card that allows our users to spend their cryptocurrency in real time at over million locations worldwide. Swipe also received a big push after Binance’s crypto debit card, called Binance Card, debuted in Europe. Binance Officially Acquires Swipe, Enters Crypto Visa Debit Card Segment. Binance CEO Changpeng Zhao, also known as CZ, unveiled his platform’s plans to launch the Binance Card, a Visa debit card that will allow using crypto to purchase goods and services from merchants that usually don’t dabble in digital assets, earlier this year. Binance has also listed Swipe’s native … You can also use a wide range of accepted stablecoins such as Binance USD (BUSD), Coinbase USD Coin (USDC), PAXOS (PAX), Tether (USDT), and … So instead of licensing swipe, binance bought and now own them. All rewards are the same just that You get additional benefits from the Slate card. Promotion Period: 2020/12/09 10:00 AM (UTC) to 2020/12/20 0:00 AM (UTC). Eligible users will have the chance to receive SXP by completing the tasks mentioned below. Announced last March following the exchange’s acquisition of crypto debit card company Swipe, the Binance Card was released in select European countries in September 2020. They acquired Swipe exactly to launch their own card. The Binance Card has been made possible by Swipe, a company that Binance acquired in July. Given Binance’s universal reach, the partnership news has shot up the value of Swipe’s native token (SXP). I give y ou my thoughts to this conversation. They acquired Swipe exactly to launch their own card.