Binance vs Bybit

Binance discontinued its Visa card in the EEA and UK in December 2023 and relaunched as a Brazil-only Mastercard prepaid in October 2025. If you are not in Brazil, Binance's card is not available.

Bybit covers the EEA, UK, LATAM, APAC, and Australia. As of January 2026, EEA Bybit users must migrate to Bybit EU accounts for MiCA compliance. The difference in reach is massive: Bybit serves most of the world while Binance serves a single country.

Bybit is restricted or banned in France, Malaysia, Philippines, Thailand, Japan, and Singapore. If you are in one of these markets, neither card may be available to you. Check the country pages for alternatives specific to your location.

Both cards charge conversion fees that reduce net returns from the headline rate. Binance charges 0.9% crypto-to-fiat conversion plus 1-2% FX on foreign currency transactions. Bybit charges 0.9% conversion plus 0.5% FX on all cross-currency spending (1.4% total).

On cross-currency spending, Binance loses money: 2% cashback minus 0.9% conversion minus 2% FX = -0.9% net per transaction. A Brazilian traveler spending $1,000/month abroad loses $108/year on Binance. The same person earns $72-$1,032/year on Bybit depending on tier.

SpendNode's cost-at-spend model shows Binance's 250 BRL/month cap (approximately $45) limits domestic returns to about $264/year even at high spending. Bybit's cashback is uncapped at all tiers. At $2,000/month, Bybit at 4% earns $624/year versus Binance's $264/year - a $360 annual difference that only grows with spending volume.

Both cards use custodial models where crypto is sold at the point of sale, creating a taxable disposal event in most jurisdictions. The tax treatment is functionally identical between the two.

Both cards are extensions of their respective exchanges, creating ecosystem lock-in through card rewards.

Binance's 2% requires no commitment. The cashback rewards spending against your exchange balance with zero prerequisites. Binance supports 10 spendable assets (BTC, ETH, BNB, SOL, USDT, USDC, FDUSD, ADA, LINK, XRP) and offers Flexible Earn at up to 6.05% APR on idle balances. That APR means a $10,000 idle balance earns approximately $605/year in addition to card cashback.

Bybit's rewards scale with exchange activity. Higher tiers require trading volume and asset balances, creating a feedback loop: more trading improves your card tier, which incentivizes more trading on Bybit. Bybit additionally offers 8% APR on idle USDT through Bybit Earn and Apple Pay and Google Pay support. Binance also supports Apple Pay and Google Pay in Brazil.

Bybit's spending limits are significantly higher: $50,000/month Standard, $250,000/month Supreme VIP. Binance caps at 50,000 BRL/month (approximately $9,000). For high-volume spenders, Bybit's infrastructure handles larger amounts without hitting limits.

For domestic BRL spending in Brazil, Binance's simpler fee structure (0.9% conversion, no FX) delivers a clean 1.1% net return. This is the one scenario where Binance matches Bybit's base tier on value: simple, predictable domestic spending without cross-border complexity.

Bybit charges 0.9% conversion plus 0.5% FX on all cross-currency spending. ATM withdrawals cost 2% for Standard ($1.50 flat fee) versus 0% for Supreme VIP. Binance offers 2 free ATM withdrawals per month ($1.50 each after), limited to 3,000 BRL/day. For cash-dependent Brazilian users, Binance's free ATM allowance is a minor advantage up to $1.50-$3.00/month in savings.

For any international spending, Bybit's total 1.4% cost is lower than Binance's 2.9% (0.9% conversion + 2% FX). A Brazilian traveler spending $1,000 abroad pays $29 in fees on Binance versus $14 on Bybit - a $180/year saving on international purchases alone.

Using the Binance card for international purchases and assuming cashback covers the fees. The math does not work: 2% cashback minus 0.9% conversion minus 2% FX leaves you at -0.9% per transaction. On $1,000/month in cross-currency spending, that is $108/year in net losses - you are paying to spend. How to avoid it: Use Binance exclusively for domestic BRL purchases where the 1.1% net return is real. For any travel or cross-border spending, switch to Bybit or a 0% FX card like OKX or Gnosis Pay.

Comparing Bybit's headline 10% rate to Binance's 2% as if both are accessible. The 10% rate requires Supreme VIP status - a tier reserved for users with extremely high trading volume and asset balances on the exchange. Most new Bybit users start at the 2% base tier, identical to Binance's rate but with higher total fees on cross-currency (1.4% vs 0.9% domestic). The realistic comparison for most users is Bybit at 2% (0.6% net after fees) versus Binance at 2% (1.1% net domestic). How to avoid it: Check your actual Bybit VIP level before assuming you will earn more than 2%. The advantage only materializes above the 4% tier, which requires meaningful exchange engagement.

Outside Brazil: Bybit is the only option between these two, available in the EEA, UK, APAC, LATAM, and Australia. If Bybit is banned in your country (France, Malaysia, Philippines, Thailand, Japan, Singapore), check OKX or Crypto.com instead.

In Brazil with low domestic spending (under $2,000/month): Binance at 2% with zero commitment and no VIP requirements is the simpler choice for BRL-only spending.

In Brazil with higher spending or international use: Bybit's uncapped cashback tiers and lower FX fees deliver significantly more value, even at the base 2% tier, once any cross-border spending is involved.

Outlook: Binance has not announced plans to expand its card beyond Brazil. Bybit faces growing regulatory pressure with bans in 6 countries as of early 2026 and is actively migrating EEA users to Bybit EU for MiCA compliance. The gap in availability is likely to narrow for Bybit (more restrictions) rather than widen for Binance (no expansion announced). Watch for Bybit's EEA transition completion and whether Binance re-enters any European or APAC markets in 2026.