Argentina has become the first South American country to officially adopt the use of a cryptocurrency card by Binance.
A major cryptocurrency exchange, Binance is in the early stages of a joint venture agreement with a financial conglomerate, MasterCard, on the production of crypto cards for the Argentine market.
With this move, Argentina becomes the first country on the South American continent to embrace it. It is envisaged that the use of the cards will be widely accepted within a short time from now. With the card, shoppers will be able to perform a number of tasks including making purchases, settling expenses, etc.
Incentives on the Crypto Card
An 8% Binance discount has been promised to any customer who makes special purchases. This is automatically transferred back to the recipient’s wallet and serves as a major incentive to attract patronage from the Argentine society. This also puts Binance ahead of the normal financial institutions that offer low interest rates.
Furthermore, there are no transaction fees on debits made through the Automated Teller Machines (ATMs). This is another benefit that the normal commercial banks cannot match due to their high charges on withdrawals.
Obtaining the card is simple – an individual must have a functional BNB account. Transaction worth ₱90,000 is permitted daily at the most and ₱360,000 in a month.
