Binance adds Shiba Inu to crypto cards, enabling SHIB payments for 60 million merchants
Shiba Inu has taken the payment route to provide more utility for the cryptocurrency. Over the past year, many brands and merchants have begun accepting the meme coin as a form of payment, apparently to capitalize on the coin’s popularity among investors. It has now taken another step in the payment tool as it lands on the largest crypto exchange in the world, Binance.
Binance adds Shiba Inu
In a recent post, crypto exchange Binance posted that it would add the option of new coins to the Binance Card. The Binance card is one that allows users to pay at merchants worldwide using their cryptocurrencies, and it already has a number of prominent cryptocurrencies.
However, the Shiba Inu had not previously made the list until now. The post announced that Shiba Inu investors will now be able to pay with their SHIB tokens as long as they have a Binance card. The new support will bring SHIB payments to more than 60 million merchants worldwide, where the Binance card is accepted for payments.
Using Shiba Inu with the Binance Card also brings some mouth-watering benefits to the users. Holders can get up to 8% cashback and enjoy zero annual and currency fees on the card.
We are happy to announce that @binance has added SHIB to the list of supported tokens for the Binance card issued in Europe.
You can now pay with SHIB at over 60 million retailers worldwide. Plus you get up to 8% cashback and zero annual or FX fees! pic.twitter.com/FqINtnHFWx
— Shib (@Shibtoken) 5 August 2022
More options from Binance
Shiba Inu wasn’t the only cryptocurrency added to the Binance card. The cryptocurrency exchange announced that it is further expanding its card offering by allowing users to pay with two other cryptocurrencies, namely Ripple (XRP) and Avalance (AVAX).
The addition of these coins has brought the total number of accepted cryptocurrencies on the Binance card to 14. These include Bitcoin (BTC), Ethereum (ETH) and BUSD, among others. The exchange added that there would be changes in payment priority due to the addition of the new cryptocurrencies. Users can continue to use the Binance card as they always have.
#Binance The card has been added $XRP, $SHIB and $AVAX to the list of supported cryptocurrencies.
Find out more ➡️ pic.twitter.com/xLmuUrB9N8
— Binance (@binance) 5 August 2022
The Binance card is currently only available to EEA residents and Ukrainian refugees in the EEA areas. In addition, users must have a minimum of six cryptocurrencies on the priority list, while they can list up to a maximum of 12 cryptocurrencies.
The addition of these three tokens to Binance card payments has been well received by their community. In a bear market like this, the use of tokens can often make all the difference, especially for holders who still have hope that prices will recover.
SHIB price falls to $0.000011 | Source: SHIBUSD on TradingView.com
Featured image from Crypto Consulting, chart from TradingView.com
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