On a day when we have reached 30K BTC for realz (not for fake ETF news) after almost 2 months of being under, I have to share some bad news with you guys... Well, it's not that bad, but it is a continuation of the constant pressure on crypto in general... I was the owner of the Binance VISA card for years and it served me well, but I will have to say goodbye to it as they will be "banned" from the EU from December, 20th! Merry Christmas! 😒
The bad news came today in my email inbox which I didn't believe at first sight as I thought that it was just one of those annoying, phishing emails that I receive on a daily basis... The subject of the email was: You will no longer be able to use your Binance Visa Debit Card from 20th December 2023
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That was a cold shower as I am using the card regularly for my daily purchases... I was expecting something similar a few months ago when Binance was pushed to the wall by the US authorities, so I have ordered a "backup" card for my wife but for another company... It looks like I will look for another option for myself in the next month or two... If you are in crypto, you have to have a Plan B(itcoin) 😂 But, seriously, you gotta have at least 2 ways how to withdraw crypto if you are living from it...
So, what does it mean? It means that the bank that issues these Binance VISA cards (UAB ”Finansinės paslaugos ,,Contis“, part of the Solaris Group) will not support them anymore... I suppose that they were threatened to do so, as it usually goes with crypto, but that's just my speculation... Anyways, all other functions of Binance should work normally and if you want to withdraw money, I suppose that SEPA transfers and transfers to other VISA cards should work... Also, you can withdraw your crypto to other accounts (external wallets) normally...
All in all, it's not that bad news, but I did like the VISA debit card as that was the easiest way to spend my earned crypto, without the hustle of bank transfers and additional fees... If you have some good experience with crypto debit cards, please let me know in the comment section... I was using a Binance, Wirex card (which doesn't work in the EU either!), and TAP card (still works, we will see until when)... So, if you know of some other that you have tried, please let me know! Thanks!
You can check out more about this unpleasant news here...
Thank you for your time,
~ph~
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