Shiba Inu’s developers have just adopted this payment option in an effort to expand the Binance program’s usefulness. This last year has seen a widespread adoption of meme currency as a method of payment by businesses of all sizes.
This is done to take advantage of the coin’s rising value among cryptocurrency traders. Shiba Inu’s payment utility has increased with its listing on Binance, the largest cryptocurrency exchange in the world.
Shiba Inu Can Be Purchased with Your Binance Card!
Binance, a cryptocurrency exchange platform, has recently announced that it will be expanding the number of coins accepted by its Binance card. It’s a crypto card that can be used to make purchases from any store, anywhere in the world.
The crypto card can be used to purchase various cryptocurrencies right now. However, Shiba Inu, a coin popular among internet memes, was not one of the supported coins.
While this was going on, Binance made an announcement that Shiba Inu owners could now use their Binance cards to make purchases on the platform using their tokens. Thanks to this latest update, SHIB can now be used at any of the approximately 60 million locations worldwide that accept the Binance card for payments.
In the meantime, there are a number of advantages to utilizing SHIB on a Binance card. All annual and foreign transaction fees have been waived, and cardholders can earn up to 8% cash back, so says the press release.
Shiba Inu isn’t the only cryptocurrency added to the Binance card, though. The cryptocurrency exchange announced that AVAX and XRP were now acceptable methods of payment.
14 Cryptocurrencies Can Be Used With The New Binance Card
Including these coins, the total number of digital money accepted by the Binance card has increased to 14. They consist of BTC, ETH, and BUSD.
It was also announced that the Payment Priority of the card would be changing to accommodate the new currency. Therefore, Binance cards can be utilized in the same manner as before.
However, at this time the Binance card is only available to European Economic Area (EEA) residents and Ukrainian refugees currently residing in EEA countries. Individuals can prioritize up to twelve different digital currencies. However, they need to support a minimum of six different digital currencies.
On the other hand, the latest development has been welcomed by the crypto community. In a down market, the ability to pay using tokens could prove vital. This is true, in particular for those who haven’t given up on the idea that prices would eventually rise.
Although the end of the bear market is anticipated, no one knows when it will occur. The cryptocurrency industry is currently green, led by prominent digital currencies such as Bitcoin and Ethereum.