Recent developments have resulted in the payment method being selected by the developers of Shiba Inu in an effort to enhance the utility of the game. Throughout the course of the past 12 months, a growing number of businesses and shops have accepted meme currency as payment.
This is done in order to make a profit off of the increasing demand for the coin among cryptocurrency investors. As a result of Shiba Inu’s recent listing on Binance, the most important cryptocurrency trading platform in the world, the cryptocurrency’s potential for use in financial transactions has significantly increased.
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Shiba Inu Can Be Added As A Binance Card Supported Breed!
Binance, a cryptocurrency exchange platform, has recently announced that it will expand the number of coins supported by its Binance card. A crypto card that can be used to make purchases from any store, anywhere in the world.
At the moment, the crypto card is compatible with a number of different digital currencies. On the other hand, the meme coin known as the Shiba Inu was not one of the coins that were supported.
While this was going on, Binance made an announcement that Shiba Inu owners could now use their Binance cards to make purchases on the platform using their tokens. With this latest update, SHIB can be used to make purchases at any of the more than 60 million stores around the world that accept the Binance card.
As a result, there are a number of advantages to making purchases with SHIB on a Binance card. Reports claim that cardholders can earn up to 8% cashback on purchases and there are no annual or foreign transaction fees.
The Binance card now supports additional cryptocurrencies beyond just Shiba Inu. The cryptocurrency trading platform announced it would accept AVAX and XRP as payment options.
Fourteen different cryptographic currencies can be loaded onto the Binance Card.
Due to the addition of these coins, the total number of digital currencies that can be used with a Binance card has increased to 14. They consist of BTC, ETH, and BUSD.
In addition, they mentioned that the arrival of these new coins would result in modifications to the Payment Priority setting on the card. This means that Binance card holders can keep using their cards as usual.
For the time being, the Binance card is restricted to European Economic Area (EEA) residents and Ukrainian refugees currently residing in EEA countries. A customer’s Priority List can hold a maximum of 12 different types of digital currency. Yet, they need to have access to no less than six different digital currencies.
In the meantime, this new progress has been enthusiastically welcomed by the crypto community. In a market as unstable as this one, accepting tokens as a form of payment might prove to be an absolutely essential strategy. This is true, particularly for investors who have not given up hope that values will improve.
On the other hand, it is impossible to forecast when the bear market will finally end. The crypto market is up today, led by prominent cryptocurrencies such as Bitcoin and Ethereum.