Binance is stepping up its game by introducing a groundbreaking service that lets you sell crypto directly to your credit or debit card, thanks to a new partnership with Paymonade. This feature brings convenience to the forefront, allowing users to sell cryptocurrencies like Bitcoin and Ethereum seamlessly and convert them into local currencies. The funds are then deposited directly into your bank’s card, making it easier than ever to access your earnings.
This latest offering adds to Binance’s vast number of financial services beyond simple crypto trading, making the exchange platform more accessible and user-friendly. Now, with just a few clicks, you can sell your crypto assets and have the funds transferred directly to your Visa or Mastercard, all through a secure and simple process.
Key Benefits of Binance’s Crypto Selling Feature:
- Fast & Secure Transfers: Funds reach your card in up to 2 business days.
- Global Reach: Available in over 108 countries, supporting multiple fiat currencies.
- Low Fees: A flat 2% transaction fee for selling crypto to your card.
How to Sell Crypto and Transfer Funds to Your Card
Selling crypto directly to your credit or debit card via Binance has never been easier. Here’s a quick guide on how to use this feature:
- Log In to Your Binance Account: Start by logging into your Binance account. If you haven’t set up your account yet, this is your first step.
- Navigate to the Sell Crypto Page: Head to the ‘Sell Crypto’ page. Choose the cryptocurrency you want to sell from the available options.
- Select Paymonade as the Payment Method: After selecting your crypto, pick “Paymonade (Visa/Mastercard)” as your payment method and confirm the sell order.
- Complete the Verification Process: Once you’ve confirmed your order, Binance will prompt you to complete security checks. If your identity verification isn’t already completed, you’ll need to go through that process.
- Bind Your Card via Paymonade: You’ll be directed to Paymonade’s secure platform, where you’ll link your Visa or Mastercard card. Double-check that the cardholder’s name matches your Binance account to avoid any hiccups.
- Confirm and Get Paid: Once all steps are completed, your sell order will be processed, and funds will be deposited to your card within 2 business days.
The verification process only needs to be done once. If you plan on selling crypto frequently, the entire crypto to card withdrawal process will be simple and quick.
A more detailed guide on how to transfer money directly to your bank card is available on Binance’s support center here.
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Is Paymonade Safe for Crypto Sales?
Binance, the world’s biggest crypto exchange, just partnered with Paymonade, adding plenty of credibility for anyone doubting this platform’s legitimacy. Paymonade supports transactions in 38 fiat currencies and hundreds of cryptocurrencies, giving you plenty of flexibility.
Known for its global reach and top-notch compliance standards, Paymonade ensures that all transactions are secure and efficient. With operations spanning 108 countries, Paymonade makes it easy for users around the world to sell their crypto and receive funds in their local currencies.
How Much Are Fees?
While selling your crypto is straightforward, it’s important to know the cost. Paymonade charges a 2% fee for each transaction. So, if you’re selling $1,000 worth of Bitcoin, you’ll pay $20 in fees. It’s a reasonable price for the convenience of direct-to-card transfers.
Investors looking to cash out crypto into fiat can alternatively choose Binance’s regular bank transfer withdrawals for lower fees.
How Long Does It Take to Receive Funds?
Binance is well-known for processing withdrawals within minutes. As soon as you confirm a withdrawal request on Binance, you can rest assured it will be processed almost immediately.
For Paymonade, after confirming your sell order, it typically takes up to 2 business days for the funds to show up on your card. However, processing times may vary depending on your bank’s policies, so it’s always a good idea to check with your bank if there’s any delay.
Which Countries is Paymonade Available In?
Selling crypto directly to credit or debit cards via Paymonade is available in the following countries: Algeria, Andorra, Angola, Argentina, Armenia, Australia, Austria, Bahamas, Bahrain, Belgium, Belize, Bermuda, Bhutan, Bonaire (Sint Eustatius and Saba), Botswana, Brazil, Bulgaria, Chile, Congo (Brazzaville), Cook Islands, Croatia, Cyprus, Denmark, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Estonia, Eswatini, Ethiopia, Faroe Islands, Finland, Gabon, Georgia, Germany, Ghana, Greece, Greenland, Grenada, Guatemala, Guyana, Holy See, Honduras, Hong Kong, Hungary, Iceland, Ireland, Isle of Man, Jersey, Kiribati, South Korea, Latvia, Lebanon, Lesotho, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Malta, Martinique, Mauritius, Mexico, Moldova, Monaco, Mongolia, Montserrat, Namibia, Nauru, New Zealand, Norway, Oman, Palau, Papua New Guinea, Paraguay, Peru, Pitcairn, Poland, Portugal, Qatar, North Macedonia, Romania, Réunion, Saint Lucia, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Sri Lanka, Svalbard and Jan Mayen, Switzerland, Timor-Leste, Togo, Tokelau, Tonga, Uruguay, Uzbekistan, Åland Islands.
Paymonade is currently not available to users from United States, United Kingdom, or Canada. Other major crypto markets where Paymonade is restricted include France, India, Indonesia, Iran, Japan, Netherlands, Nigeria, Philippines, Russia, Spain, Taiwan, Thailand, and Turkey.
For a full and up to date availability by country, visit this page on Paymonade’s support center.
Why Binance’s New Feature Stands Out
This feature truly simplifies the process of converting your digital assets into cash. Whether you’re a seasoned trader or a newcomer, you’ll find that selling crypto has never been easier. Just a few weeks ago Gate.io added a crypto-to-card withdrawal feature, and we’re pleased to see Binance also adding this convenient fiat off-ramp option to its massive user base. You can now cash out without the need for complex third-party transfers or waiting for lengthy processing times.
Plus, the partnership with Paymonade adds an extra layer of trust and security. Paymonade has earned a reputation for its compliance with global standards, even partnering with compliance leaders like SumSub and ComplyAdvantage to keep transactions smooth and secure.
If you’re looking for a quick, secure, and cost-effective way to sell your crypto, Binance’s new feature is the perfect solution. With just a few steps, you can convert your crypto into local currency and have it deposited directly onto your credit or debit card. So why wait? Log into your Binance account today and start selling your crypto with Paymonade!
For more information, refer to Binance’s Paymonade announcement on the official website.
