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What is the Binance Gift Card and how does it Work?

Introduction to giftcards

A birthday, a wedding or Christmas. All of them are fun holidays, but finding a good gift remains difficult. A lifesaver is often a gift card. No, I am not talking about a boring voucher from your favorite clothing store or bookstore around the corner, but a voucher for crypto. Surprise a friend or family member with the Binance Gift Card. Find out what it is and how it works in this article.

What is the Binance Gift Card? #

The Binance Gift Card is a gift card with which you can give cryptocurrencies as a gift to friends and family. No boring gift card from the local liquor store or some gift shop, but give crypto as a gift to your loved one.

Despite the fact that we are currently in a fierce bear market, the development of crypto continues. Behind the scenes, teams are hard at work shaping the future and governments are developing CBDCs. In short: enough reasons to say that blockchain is the future. And what better way to invest early in new projects that are the future. Imagine if you had invested in Google or Microsoft in the early days of the Internet. Is this a new opportunity?

Anyway, what better than investing yourself? Exactly, getting crypto as a gift. And that is now possible thanks to the Binance Gift Card. For which occasions can you give a Binance Gift Card as a gift?

  • Christmas
  • New Year
  • Special World Cup editions
  • Birthday
  • Wedding

Binance distinguishes between Thematic Gift Cards and Token Gift Cards. You can choose the theme cards for special occasions as mentioned above. Do you want to gift someone a certain token? Then you have a choice in the Token Gift Card, so you have BNB Gift Card, DOGE Gift Card and BTC Gift Card.

In short: a whole range of Binance Gift Cards. But how does the Binance Gift Card work?

Binance christmas and new year styled cards

Which crypto to give as a gift? #

Do you want to give your son, daughter or perhaps your mother a Binance Gift Card, but you don’t know which crypto to give as a gift? The choice is huge. The Binance exchange is known for the huge range of crypto coins. Trade over 350 different currencies on Binance. But how do you choose which one to give as a gift? Of course you don’t want the value of your crypto to plummet. Imagine if you had given LUNA as a gift just before the crash… But how do you determine which crypto is the best gift to give?

Risk #

The answer to that question, of course, depends on the risk profile. The price of crypto can be volatile. Just as you can win money, you can also lose money. Do you know which crypto the person has invested in and strongly believes in? Then you can supplement his or her portfolio with this crypto coin. Prefer to play it safe? Then of course you can give stablecoins as a gift, such as BUSD, Binance’s own stablecoin.

How does the Binance Gift Card work? Roadmap. #

To give crypto as a gift via the Binance Gift Card, you need an account on Binance. Don’t have an account yet? Then you can create it for free. Are you new to crypto and have no idea how Binance works? Then read our extensive manual.

Have you verified your identity and is your account ready to use? Then you first need balance. You have several options to deposit money into your account. The most convenient way is to transfer money via your credit card. Take into account a fee.

Now that you have a balance on your own account, you can give it as a gift. Here we show a step-by-step plan. We’re using Binance’s app in this example, but you can also use the desktop version for this:

  1. Go to your account and click on ‘More’ in your main menu.
  2. At ‘Gift and Campaign’ you see ‘Gift Card’
  3. Choose your card. Binance has several gift cards. Do you want to congratulate someone on a birthday or marriage? Choose a matching gift card.
  4. Choose a currency. Based on your risk profile, you choose which cryptocurrency you want to give someone as a gift. Select a cryptocurrency of your choice from the list.
  5. Choose the amount. Choose the amount that is available in your own wallet. Do you have 100 dollars? Then you can opt for 50 dollars, 50% of the total amount. You can of course also freely choose an amount that is available.
  6. Is your account properly secured? Then you must give approval via your 2FA verification.
  7. Send your Binance Gift Card.
Send crypto with binance cards

How to give Binance Gift Card? #

The value of your Binance Gift Card is always sent with a unique code. So do not share this code with others, after all it is your own gift. By default, Binance gives you a few options for handing over your Binance Gift Card:

  • Text message
  • Mail
  • Binance account

Do you want to know if the recipient has used your gift? Navigate back to ‘More’ in your app and then to ‘Gift & Campaign’ and choose ‘Gift Card’. Here you will get an overview of all your gift cards, including the code and the amount. Is the gift card colored dark grey? Then the recipient has withdrawn the balance. Is it still yellow? Then it might be useful to point out to the recipient that he or she can still withdraw crypto as a gift.

How to redeem the Binance Gift Card? #

Did you receive a gift card yourself? Then you will receive a notification, also directly via your app. But of course, you want to add this balance to your wallet. How do you do that? This is almost identical to the step-by-step plan above:

  1. Go to your account
  2. Navigate to Gift Card
  3. Click on “Redeem”
  4. Enter the unique code
  5. You can find the new balance in your own ‘funding wallet’.

The question is of course whether you would like to keep these tokens, or whether you still want to convert them to another currency? From the moment they are in your funding wallet, they are also freely tradable. Exchange your received tokens for stablecoins or choose another crypto such as Bitcoin or Ethereum.

Redeem Binance Card

Trust Wallet #

It is even possible to redeem your credit with your Trust Wallet. Directly to your own software wallet. It is also no surprise that DeFi is still very important and that more and more people are finding their way away from centralized trading and decentralized exchanges. So how do you claim your currency via Trust Wallet?

By mail:

  1. Open the email and click on ‘Redeem to wallet address via Trust Wallet
  2. You will be redirected to the Trust Wallet app. Choose your wallet
  3. Click on ‘Redeem now’ and the currency will be added to your own Trust Wallet

By text:

  1. Open your Trust Wallet app and go to settings
  2. Choose ‘Scan QR code’
  3. Scan the code or enter your code manually

How long does the Binance Gift Card remain valid? #

Like other gift cards, the Binance Gift Card also has an expiration date. The code to redeem your gift is valid for one year. So, claim your crypto within one year. Aren’t you doing this? Then you can no longer use it, which would be a great pity.

Conclusion #

Giving a gift, for one a nice affair, for the other a struggle every time. Giving a gift card seems like the right solution. But how much do we really like this? With the arrival of the Binance Gift Card you can really unpack and give something unique as a gift. Choose from the range of cards, create your own unique message and choose a crypto coin. And the amount? Of course, you choose that yourself. Do you give Bitcoin as a gift or do you play it safe and give stablecoins like BUSD? Your card, your gift, your decision.

Updated on December 28, 2022
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*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.