Recently, developers of Shiba Inu have chosen the payment method to increase its usefulness. Many retailers and companies have learned to embrace the meme currency as a form of payment during the past year.
This is to capitalize on the coin’s popularity among crypto investors. As it joins Binance, the biggest cryptocurrency platform in the globe, Shiba Inu has now advanced in its usefulness for payments.
Binance Card Now Supports Shiba Inu
The exchange platform, Binance, recently announced that it would add more coins to its Binance card. This card is a crypto card that enables holders to make payments at merchants’ shops globally.
Currently, the crypto card supports several digital currencies. However, the meme coin, Shiba Inu, was not part of the supported coins.
Meanwhile, Binance has announced that crypto investors who have Shiba Inu can now use their Binance card to make payments using the tokens. The latest addition will allow SHIB payments to over 60 million merchants on the globe where they accept the Binance card.
Meanwhile, users have several benefits from using SHIB on their Binance cards to make payments. According to the announcement, the card has zero annual and foreign exchange fees, and owners can receive up to 8% cashback.
Also, other cryptocurrencies were introduced to the Binance card besides Shiba Inu. The cryptocurrency exchange stated that it was allowing customers to pay using two other virtual currencies, which are AVAX and XRP.
Binance Card Now Supports 14 Digital Currencies
With the inclusion of these coins, there are now 14 digital currencies supported by the Binance card. They include BTC, ETH, and BUSD.
Additionally, they mentioned that the arrival of these new coins would result in modifications to the card’s Payment Priority. Therefore, users can continue using their Binance cards in the same manner as before.
For the meantime, only EEA citizens and Ukrainian refugees living in EEA regions may currently use the Binance card. Consumers can include up to a total of 12 digital currencies on their Priority List. However, they must have at least six digital currencies.
Meanwhile, the crypto community is happy about the latest development. Accepting tokens for payment may play a crucial role in a bad market like this. This is true, especially for investors who continue to hold out hope that values will rise.
However, it is uncertain when the bearish market will end. Today, the crypto market is green, with notable digital currencies like BTC and ETH leading the market.
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