Cryptocurrency Q&A
Why is Binance card closing?
Why is Binance card closing?
KatanaSharpness
Wed Sep 04 2024
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7 answers
1418
Could you please elaborate on the reasons behind the closure of the Binance card? Are there any specific regulatory issues or changes in the company's strategy that have led to this decision? Are there any concerns regarding the security or stability of the card that have prompted the closure? Additionally, what are the alternative options for Binance users who have been relying on the card for their financial transactions? Is there any plan to introduce a new product or service to replace the Binance card in the future?
7 answers
Dario
Fri Sep 06 2024
However, the future of this service was uncertain as Binance faced challenges with its payments processor, Paysafe.
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Matteo
Fri Sep 06 2024
Due to Paysafe's exit, euro deposits and withdrawals were temporarily unavailable on Binance, causing inconvenience to users and casting doubts on the stability of the platform.
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alexander_jackson_athlete
Fri Sep 06 2024
The Binance Visa Debit Card was a groundbreaking offering in the cryptocurrency space, allowing users to seamlessly convert their crypto funds into local currency at the point of purchase.
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CherryBlossomBloom
Fri Sep 06 2024
Eventually, Binance was able to restore euro deposits and withdrawals, marking a significant step towards restoring normalcy on the platform.
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GyeongjuGrace
Fri Sep 06 2024
Unfortunately, the Binance Visa Debit Card service was terminated following the restoration of euro transactions. The reasons behind this decision remain unclear, but it undoubtedly left a void in the crypto ecosystem.
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