The Binance Card is a prepaid Mastercard debit card (not a credit card) currently available exclusively in Brazil, offering up to 2% cashback in BNB (capped at 250 BRL/month), 0.9% crypto conversion fee, 1-2% FX fee on foreign transactions, 10 supported assets (USDT, USDC, FDUSD, BNB, BTC, ETH, SOL, ADA, LINK, XRP), the ability to spend directly from Flexible Earn while accruing yield, Apple Pay and Google Pay, and $0 annual or issuance fees. Binance has a 4.65-star App Store rating from 111,576 reviews. The previous global Visa card program was discontinued in December 2023.
From Global Visa to Brazil-Only Mastercard: The Full Story
In our exchange card ranking, we reviewed the full history of the Binance Card program - the most turbulent of any crypto card. Understanding what happened, and what exists now, is essential before considering the current product.
The Rise: Global Visa Card (2020-2023)
The original Binance Card was a Visa debit card with a 7-tier BNB staking system offering 0.1% to 8% cashback based on monthly BNB balance. Available across the EEA, UK, and parts of Latin America, it was one of the most competitive exchange cards in the market. At its peak, the top tier (600 BNB staked) delivered 8% cashback - unmatched by any competitor.
The Fall: Visa and Mastercard Sever Ties (2023)
In late 2023, both Visa and Mastercard ended their partnerships with Binance amid intensifying regulatory pressure worldwide. The card was discontinued in all regions by December 20, 2023. European users received notice to withdraw funds. The 8-tier staking system was permanently retired. No refunds were offered for BNB held in staking tiers.
This was a direct consequence of Binance's $4.3 billion DOJ settlement and Changpeng Zhao's guilty plea in November 2023. Card network partners considered the regulatory risk too high.
The Relaunch: Brazil Mastercard (October 2025)
After nearly two years without a card, Binance relaunched in October 2025 with a fundamentally different product: a Brazil-only prepaid Mastercard. Simpler tiers, lower cashback, single-country rollout.
The Current Card: Binance Brazil Mastercard
Binance Mastercard - Brazil Only
- Annual fee: $0
- Card format: Virtual (instant) + Physical (free, requires 10 USDT minimum balance)
- Cashback: Up to 2% in BNB (capped at 250 BRL/month, approximately $42)
- Conversion fee: 0.9% crypto-to-BRL at point of sale
- FX fee: 1-2% on foreign currency transactions
- ATM: 2 free withdrawals/month, then $1.50 each
- Network: Mastercard (150M+ merchants worldwide)
- Apple Pay and Google Pay: Both supported
- Best for: Brazilian Binance users who want a simple crypto off-ramp
10 Supported Assets
| Asset | Type |
|---|---|
| USDT | Stablecoin |
| USDC | Stablecoin |
| FDUSD | Stablecoin |
| BNB | Exchange token |
| BTC | Bitcoin |
| ETH | Ethereum |
| SOL | Solana |
| ADA | Cardano |
| LINK | Chainlink |
| XRP | Ripple |
When you swipe, Binance instantly converts the selected asset from your wallet to BRL at the prevailing market rate plus 0.9% conversion fee. You choose which asset to spend from within the app.
Technology: Spend-From-Flexible-Earn
The standout technical feature of the Brazil card is Flexible Earn integration. Your funds can sit in Binance Flexible Earn products earning up to 6.05% APR while remaining instantly spendable through the card. No transfer required. When you swipe, the card draws directly from your Flexible Earn balance.
This is genuinely unique in the crypto card space. Most exchange cards require you to move funds from earning products to a card wallet before spending. Binance's integration eliminates that step, meaning your money earns yield right up until the moment you spend it.
How the Yield-While-Spending Math Works
| Monthly Spend | Flexible Earn APR | Monthly Yield | Cashback (2%) | Conversion Fee (0.9%) | Net Monthly |
|---|---|---|---|---|---|
| 5,000 BRL | 6.05% | +25.21 BRL | +100 BRL | -45 BRL | +80.21 BRL |
| 10,000 BRL | 6.05% | +50.42 BRL | +200 BRL | -90 BRL | +160.42 BRL |
| 12,500 BRL (cap) | 6.05% | +63.02 BRL | +250 BRL (cap) | -112.50 BRL | +200.52 BRL |
The yield effectively subsidizes the conversion fee, making the card's net economics more favorable than the 0.9% conversion fee alone would suggest.
Fee Structure
| Fee | Amount |
|---|---|
| Annual fee | $0 |
| Card issuance | $0 |
| Crypto conversion | 0.9% per transaction |
| Foreign exchange | 1-2% on non-BRL transactions |
| ATM withdrawals | 2 free/month, then $1.50 each |
| Physical card cancellation (within 1 year) | 30 BRL |
| Minimum balance for physical card | 10 USDT equivalent |
Net Returns After Fees
| Transaction Type | Cashback | Conversion | FX | Net Return |
|---|---|---|---|---|
| Domestic (BRL) | +2% | -0.9% | 0% | +1.1% |
| International | +2% | -0.9% | -1 to 2% | -0.9% to +0.1% |
Domestic spending is where the card makes sense. The 1.1% net return on BRL purchases is modest but positive. International spending can go net-negative due to stacked FX fees. For Brazilian users spending primarily in BRL, the card is economically rational.
Cashback Cap Math
Cashback is capped at 250 BRL/month (approximately $42 USD). At 2% cashback:
- Only the first approximately 12,500 BRL (approximately $2,100) of monthly spending earns rewards
- Spending above 12,500 BRL/month earns zero additional cashback but still pays the 0.9% conversion fee
This means high spenders effectively see a declining effective cashback rate:
| Monthly Spend (BRL) | Cashback Earned | Effective Rate |
|---|---|---|
| 5,000 | 100 BRL | 2.0% |
| 12,500 | 250 BRL (cap) | 2.0% |
| 25,000 | 250 BRL (cap) | 1.0% |
| 50,000 | 250 BRL (cap) | 0.5% |
Transaction Limits
| Limit | Amount (BRL) | Approx. USD |
|---|---|---|
| Daily spending | 25,000 | approximately $4,200 |
| Monthly spending | 50,000 | approximately $8,400 |
| Annual spending | 200,000 | approximately $33,600 |
| ATM daily | 3,000 | approximately $500 |
| ATM monthly | 25,000 | approximately $4,200 |
| ATM withdrawals per day | 3 | - |
Limits can increase with higher verification levels. These are denominated in BRL as the card operates exclusively in the Brazilian financial system.
Trust, Security, and Regulation
- Exchange: Binance, the world's largest crypto exchange by trading volume
- Network: Mastercard with standard fraud protection
- Custody: Custodial (funds held on Binance exchange)
- KYC: Brazilian personal verification document required (ID card, passport, driving license, or resident's permit)
- Regulatory history: $4.3 billion DOJ settlement (November 2023), ongoing compliance overhaul under new CEO Richard Teng
- Card history: Previous Visa card discontinued December 2023 due to network partner withdrawal
- European alternative: Binance promotes Trustee Plus as an affiliate partner for European users, but this is a separate company and product - not a Binance card
After reviewing the regulatory context, the history is important. Binance's card program was shut down once due to compliance failures. The Brazil relaunch represents a more cautious, single-market approach under the new leadership. Whether the card expands to other markets depends on Binance's ongoing regulatory rehabilitation.
Availability: Brazil Only
- Brazil only (October 2025 relaunch)
- Requires Brazilian KYC documents (ID card, passport, driving license, or resident's permit)
- NOT available in: EEA (discontinued Dec 2023), UK (discontinued Dec 2023), US, Colombia, or any other country
- Apple Pay and Google Pay supported
- Virtual card: Instant issuance after approval
- Physical card: Free delivery (minimum 10 USDT balance)
There is no confirmed timeline for expansion beyond Brazil. Binance has not announced plans to relaunch in Europe, the UK, or any other region.
Binance Card vs Competitors
| Feature | Binance Card | Bybit Card | Crypto.com Blue | RedotPay Virtual | KAST Pengu |
|---|---|---|---|---|---|
| Annual fee | $0 | $0 | $0 | $10 | $0 |
| Cashback | 2% (capped) | Up to 10% | 0% | 0% | 6% |
| Conversion fee | 0.9% | 0.9% | 0% | 1% + 1.2% | 0% |
| FX fee | 1-2% | 0% | approx. 2.99% | 1% | TBD |
| Yield while spending | Yes (6.05%) | No | No | No | No |
| Assets | 10 | 100+ | 350+ | 40+ | USDC/USDT |
| Regions | Brazil only | Global | Global | 50+ countries | 170+ countries |
After reviewing the competitor lineup:
Binance vs Bybit: Bybit offers broader regional availability, more assets, 0% FX, and up to 10% rewards on higher tiers. Binance wins only on the Flexible Earn yield feature. For Brazilian users choosing between the two, Bybit is the stronger card unless the yield-while-spending feature is a priority.
Binance vs Crypto.com: Crypto.com offers 0% conversion fees and global availability with tiered CRO staking rewards. Binance's 0.9% conversion fee is a disadvantage, but the 2% cashback at the free tier beats Crypto.com's 0% at the free tier (Midnight Blue). For Brazilian users, Binance's local integration and BRL denomination may be more convenient.
Binance vs KAST Pengu: KAST offers 6% cashback for free with 170+ country availability and no conversion fee. Binance's 2% (capped) with 0.9% conversion is significantly worse on pure economics. Binance wins on exchange integration and the Flexible Earn feature for existing Binance users.
The Verdict
Use the Binance Card if:
- You are a Brazilian resident and active Binance user
- You want to spend crypto domestically in BRL with a simple, free off-ramp
- You value the Flexible Earn integration (earning 6.05% APR while spending)
- You spend under 12,500 BRL/month (above the cap, effective cashback declines)
- The Binance Mastercard is the only card you need for BRL-denominated spending
Look elsewhere if:
- You are outside Brazil: the card is not available to you
- You want higher cashback: KAST Pengu (6% free), ether.fi Core (3% free)
- You want global availability: Bybit (global), RedotPay (50+ countries)
- You want 0% conversion fees: Crypto.com (0% conversion on all tiers)
- You want self-custody: MetaMask, Ready, or Avici
Sources and Verification
All card specs, fees, and tiers verified from:
Frequently Asked Questions
Is the Binance Card available in Europe or the UK?
No. The Binance Visa Card was discontinued in the EEA and UK in December 2023. The current Binance Card (Mastercard) is only available in Brazil.
Is the Binance Card available in the US?
No. The Binance Card is not available to US residents.
What happened to the 8% cashback tiers?
The 8% BNB tiered cashback was part of the old Visa card program discontinued in 2023. The current Brazil Mastercard offers up to 2% cashback, capped at 250 BRL per month.
Is the Binance Card a credit card?
No. The Binance Card is a prepaid Mastercard debit card, not a credit card. You load crypto or BRL fiat and spend your own balance - there is no credit line, no APR, and no credit check. For crypto-backed credit card options, see our reviews of Gemini, ether.fi, Nexo, and Avici.
App Store (112.0K ratings)
Source: Apple App Store - Updated Invalid Date
