If you’re in the US, people are going crazy with the Fold and Lolli cards. And why not? You can just load them up with all your funds in bitcoin, spend as usual and you get sats in return for doing your regular spending.

It’s awesome.

Note: This is not financial advice. You should consult your accountant or your financial advisor for any decisions you make.

For the rest of us sitting in the sidelines, we don’t have that access, not now or anytime soon that is. So, here’s an alternative:

Ledger - Crypto Beginners Pack

Binance‘s debit card is available pretty much everywhere in the world. It’s free, very easy to use, you just load the card balance with Bitcoin and you’re ready to spend.

The daily limits are quite okay, there’s even a 290 euro withdrawal limit per day which is decent if you need cash from an ATM (No cashback in that case, of course.)

If you’re living in Europe and your daily spending is like my own, you can use a debit card pretty much anywhere you go.

Why not get 2% cashback on all those transactions?

The trick is that you’ll need at least 1 BNB in your account. I know how it sounds to bitcoin maximalists, but it’s not that big of a deal. Think of it as a Security Backed Token, basically like a stock and a cryptocoin wrapped up in one. I actually like Binance, and I hold 1 of their coins. That coin acts like a stock, going up and down in value. It’s an investment. Also, by holding it inside the Binance system, it gives me certain discounts. I don’t remember what those are but I get some fees reduced simply by holding 1 BNB.

And the most important thing is that for the debit card, it gives me a jump from 0.1% to 2%, which is a big difference. 2% basically eliminates all the fees you’re paying. The larger levels need a lot more BNB and I don’t really suggest them, but that first BNB coin is enough to get you going.

Now, let’s be clear about this, the cashback is done in BNB. The amount is simply added to your debit card ready to be used after a couple of days if the transaction is eligible. You can either spend that BNB or transfer it out of the card balance, trade it into more BTC, and either keep it or spend it again. It’s your choice. After you get the hang of it it’s not a big deal, it’s all done in the Binance app.

Again, to reiterate. What you need to get a 2% cashback is:

At the time of writing this, 1 BNB costs about 300 euro. That’s not much and it will earn you back plenty if you use the debit cashback like I do. You will need to hodl that coin forever and the bonus kicks in after 30 days.

And to make it earn back, you can just go to the Earn Tab in the Binance app, BNB Vault and stake the 1 BNB to earn you interest. The APY is variable and it also stakes in various other coins from their launchpool. I just sell these for more Bitcoin.

So, that’s one way to get a debit card with cashback when you don’t have Fold or any of the other ones available in your area.

Sign up for Binance through this link for an extra 10% off on your fees forever.

BullionVault

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