Binance vs OKX

Binance discontinued its EEA Visa card 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.

OKX serves the EEA and APAC regions with a Mastercard debit card. OKX supports Apple Pay and Google Pay for contactless mobile payments. The card integrates directly with OKX's Funding Account for instant crypto-to-fiat conversion.

However, OKX is restricted or banned in India, Malaysia, Philippines, Thailand, Singapore, Japan, and Canada as of early 2026. Users in these APAC markets cannot access the OKX card despite the broad regional designation. Binance is also banned in Malaysia and the Philippines.

There is no market overlap between these two cards. European and remaining APAC users can only use OKX. Brazilian users can only use Binance. This single factor decides the comparison for most readers.

SpendNode's Binance vs OKX verdict on the numbers: headline rates tell one story, but net returns after all fees tell a more nuanced one. Both cards charge a 0.9% crypto-to-fiat conversion fee at the point of sale. Binance adds 1-2% FX on foreign currency transactions. OKX charges 0% FX.

On cross-currency spending, Binance loses money. The 2% FX fee plus 0.9% conversion (2.9% total fees) exceeds the 2% cashback, resulting in a net loss of 0.9% per transaction. A Brazilian traveler spending $1,000/month abroad loses $108/year on Binance. OKX's 0% FX eliminates this problem entirely.

For domestic BRL spending, Binance nets 1.1% (2% cashback minus 0.9% conversion), but the 250 BRL/month cap (approximately $45) limits total annual earnings to roughly $264 at $2,000/month spending. Above $2,250/month, the effective rate drops because additional spending earns zero cashback while still incurring the 0.9% conversion fee.

OKX at the base tier (minimal OKB holdings) nets approximately 0.1% after the 0.9% conversion fee - significantly lower than Binance's domestic rate. But at the mid-tier (moderate OKB holdings), OKX nets 2.1%, and at the top 5% tier, the net 4.1% is nearly four times Binance's domestic rate. The key variable is your OKB position and trading activity.

Both cards use custodial models where crypto is sold at the point of sale, creating a taxable disposal event on every transaction. The tax treatment is functionally identical.

Binance caps cashback at 250 BRL per month (approximately $45 USD). A Brazilian user spending more than $2,250/month in BRL earns nothing extra beyond the cap. Every dollar above that threshold incurs the 0.9% conversion fee with zero cashback offset. The cap creates a hard ceiling: maximum annual cashback is approximately $540, regardless of spending volume.

OKX has no published cashback cap, making it theoretically uncapped at all tiers. But reaching the 5% tier requires holding a significant OKB balance and maintaining 30-day trading volume on the exchange. A user who does not trade on OKX or hold OKB will earn closer to the base tier (approximately 1%), not the headline 5%.

The OKB token adds a layer of risk that Binance's BNB cashback does not have in the same way. Both cashback tokens (BNB and OKB) are subject to price volatility, but OKX's tier structure means your reward RATE depends on your OKB holdings. A 30% drop in OKB price could push you below a tier threshold, reducing your cashback percentage while simultaneously reducing the value of previously earned rewards. Binance's 2% is fixed regardless of BNB price - only the value of received BNB changes.

For a European digital nomad spending $3,000/month across currencies, the OKX card delivers $3-$123/month in net rewards depending on OKB tier. The same person could not even apply for the Binance card.

OKX offers $30,000/month in spending limits at the standard level, with increases available based on account verification and OKB holdings. ATM withdrawals cost 1% with a $500/day limit.

Binance's Brazil card allows up to 50,000 BRL/month (approximately $9,000) in spending and 3,000 BRL/day ($540) at ATMs, with 2 free ATM withdrawals per month ($1.50 each after). The monthly spending limit is lower than OKX's, but sufficient for most retail spending in Brazil.

OKX supports 6 spendable assets (OKB, USDT, USDC, BTC, ETH, SOL). Binance supports 10 (BTC, ETH, BNB, SOL, USDT, USDC, FDUSD, ADA, LINK, XRP). Binance's broader asset support means users can spend smaller-cap holdings like ADA and LINK without first converting them, a minor convenience advantage for diversified portfolios.

Assuming OKX's 5% cashback rate is the default for all users. The 5% tier requires substantial OKB holdings and consistent 30-day trading volume on the exchange. New OKX users with no OKB start near the base tier, where the approximately 1% cashback minus 0.9% conversion fee nets just 0.1% - dramatically less than Binance's 1.1% domestic net. At the base tier, OKX is actually the weaker card for net returns on equivalent spending. How to avoid it: Check your actual OKB tier in the OKX app before comparing to Binance. If you are at the base tier with no plans to acquire OKB, the OKX card's 0% FX advantage only matters for cross-currency spending. For same-currency transactions, Binance's guaranteed 1.1% net may actually outperform OKX's base tier.

Using the Binance card for any international purchases. This is mathematically guaranteed to lose money. The 2% cashback minus 2.9% in total fees (0.9% conversion + 2% FX) produces a -0.9% net return. Every $1,000 spent internationally costs you $9 more than paying with no card at all. Over a year of $500/month in international spending, that is $54 in losses. How to avoid it: Reserve the Binance card exclusively for domestic BRL purchases where the 1.1% net is real. For any cross-border spending from Brazil, use a no-FX-fee card like RedotPay, Gate.io, or even Crypto.com Basic (0% fees, 0% cashback - still better than paying -0.9%).

In the EEA or APAC (excluding banned countries): OKX is your only option between these two, and it is strong - 0% FX, up to 5% cashback, Apple Pay support, no cashback cap. Even at the base tier, OKX's 0% FX makes it the correct choice for any cross-currency spending.

In Brazil: Binance is your only option. The 2% domestic cashback is decent for low-to-moderate spenders (under $2,250/month) but caps quickly and turns negative on international purchases.

If you have access to both exchanges and are choosing a platform for your crypto card, OKX's card program is objectively more competitive in 2026: zero FX, uncapped rewards, Apple Pay integration, and broader geographic reach.

Outlook: OKX is expanding Apple Pay support to additional EEA markets and continues to invest in its card program. Binance has not announced plans to expand beyond Brazil or increase the 250 BRL monthly cap. OKX faces its own regulatory challenges with bans in 7 countries (India, Malaysia, Philippines, Thailand, Singapore, Japan, Canada), but its EEA position appears stable. The availability gap between these two cards is likely to persist through 2026 unless Binance announces a European or APAC relaunch.