- SHIBA INU meme coin is now accepted for online purchases using the cryptocurrency debit card issued by the Binance Argentina branch.
- Argentines have been looking at cryptocurrencies as a “haven” due to growing inflation and other economic problems.
- In 2020, Binance launched the cryptocurrency Visa card to ease the hassle of online payments, especially for cryptocurrency investors.
The most widely used meme token would now be supported for online payments on the cryptocurrency debit card offered by Binance‘s Argentina branch, the biggest cryptocurrency exchange. The SHIB token is now usable for payment at more than 90 million retailers globally, according to a development that was reported early today by the verified handle of Shiba Inu.
Woof! @BinanceArg has added $SHIB to the list of supported tokens for Binance Cards issued in Argentina.— Shib (@Shibtoken) September 16, 2022
You can now pay with SHIB at 90+ million merchants worldwide. Furthermore, get up to 8% cashback and zero fees on ATM withdrawals!
Read more..https://t.co/FN3W964Bfw pic.twitter.com/KDTSnVlnAk
As a result, Binance Argentina introduced a promotional offer for the new card processors. Between September 12 and September 30, the first 5,000 users who apply for their card and complete a successful card transaction would be eligible to win a 5 BUSD token voucher. Additionally, a single qualified user will be chosen by Binance’s unique procedures to get a token coupon for 1 BTC.
Due to rising inflation and other economic issues, Argentines have been eyeing cryptocurrencies as a “haven” even though the markets have been shaky over the past several months. In the past, people have compared the peso to ice cream to show how the value of the money “melts” when contrasted to what may be purchased. As a result, the general public prefers to save in other currencies, such as dollars and cryptocurrencies.
To elaborate, a recent New York Times article revealed that many Argentines are now using cryptocurrency as a means of escaping the peso. Approximately one-third of Argentines, or twice as many as Americans, claimed to buy or sell cryptocurrencies at least once every month.
Binance introduced the cryptocurrency Visa card in 2020 to reduce online payment friction, particularly for those who have invested in cryptocurrencies. A buyer might spend EUR directly from their Binance financing wallet thanks to the Binance card’s real-time cryptocurrency-to EUR conversion at the point of sale.
However, this service is only accessible to European Binance users and Ukrainian refugees living in EEA countries.