My Binance VISA Card has finally arrived
It's Finally Here
It's been more than 30 days since I ordered my Binance VISA card and as I was starting to loose hope that something has happened with the parcel, the mailman rung my doorbell a few days ago and delivered!
Here is my new "toy". Looks super-cool, right?
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But Knowhow, what's the big deal?
There are a lot of advantages holding a Binance card, especially in the country I live in (Greece).
First of all, no more stupid bank fees when I send FIAT from Coinbase to my bank account as well as no more Coinbase fees for converting crypto to Euro. All I have to do now is to load my Binance card with crypto and Binance card powered by Swipe converts that crypto to FIAT instantly when I wanna buy something online or at a store.
One more advantage of having this card is that I can withdraw money from any ATM machine any time, any day with just a small 0.9% fee and a 2.5 Euro bank fee. That's way less than the 10 Euro I was paying every time I wanted to convert my crypto to FIAT!
Last but not least, Binance card holders enjoy a 0.1 to 8% cashback every time they purchase something using their card! The cashback varies depending on the amount of BNB you hold!
No taxes baby
The most awesome thing about this card is that I don't have to pay taxes ever again! Not that there are any specific tax laws about crypto in Greece but if the government decided to apply taxes on crypto gains then no problem. No money are entering my Greek bank account so no taxes, at least for now.
I'm sure the government will find a way to tax me in the future but until then, I'll keep using my Binance card for my daily purchases, FIAT withdrawals and pay with style.
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Posted Using LeoFinance Beta
Thanks for your explanation! I've been wondering if I should get it, but it definitely looks like it has some advantages!
It's free so you've got nothing to loose my friend! Go get this one!
Posted Using LeoFinance Beta
It comes with lots of advantages thanks for sharing hope i get to grab one of these care soon.
Go grab one now my friend. It's free!
Posted Using LeoFinance Beta
Thanks much will apply asap
η μαλακια σε αυτο ειναι οτι μπορει να σου βαλουν μετα απο χ χρονια να πληρωσεις φορο σε οτι συναλλαγες εχεις κανει μεσω binance/binance card. Οπως στο περιπου εγινε με το κρακεν π τους ειπαν απο το 2016-2020 πληρωστε αν εχετε πανω απο 10κ-20κ συναλλαγες κατι τετοιο
Posted Using LeoFinance Beta
Tha exw figei gia gouatemala mexri tote file, den tha me piasoune pote xaxaxaxa!
Posted Using LeoFinance Beta
good for you! maybe i will get one soon.
for the tax thing. you have to pay taxes after your income, and it does not matter if its cash, bank transfer or anything. i dont yet know how binance card works so maybe its the same as the nexo card. they solved the tax problem this way: when you use your card, its not conversion, but a loan against your crypto holdings. since taking out a loan is not a tax event government is fine with it. and if you dont want to owe, you can repay using your crypto balance the same day
Posted Using LeoFinance Beta
I don't know exactly how it works too but I think it does not work like NEXO Card. Need to dig deeper into these info but all I knowfor sure is that it rocks hehehe!
I don't think I have to pay anything (for now) since I've been doing what I am doing for around 2 years and never paid any taxes! Greece is a crazy country and there are a lot of "small windows" you can take advantage of in laws
Posted Using LeoFinance Beta
i think your card is like a debit card. you place your crypto on a separate wallet then its get converted when needed.
not paying taxes is not the same as not having to pay taxes. be cautious as governments punish tax evasion more than murders and pedophiles
Posted Using LeoFinance Beta
Sure thing man! I am not cashing out all that money after all so not a big problem.
And when they do that, may be they charge you for all the old transactions as well ?
I hope I've made enough money to not care by then @sanjeevm hehe! Greece is a crazy country so you never know what's gonna happen!
Posted Using LeoFinance Beta
This might be a game changer. It's an interesting approach to taking crypto to the mainstream.
It sure is! Paying with crypto is exactly what we need hehhe!
Posted Using LeoFinance Beta
Awesome stuff man, keep avoiding the taxes as long as you can dude! Sounds like a great asset here.
It sure is bro! I think it's not available in the US yet though!
Posted Using LeoFinance Beta
Great. I've been the Binance card for a while and it's doing its job pretty well.
Posted Using LeoFinance Beta