The Binance gift card is a digital cryptocurrency voucher code that allows holders to send and receive crypto to and from anywhere in the world. This service is offered with zero fees for both Binance and non-Binance users alike. It is a fast and easy way to give the gift of Bitcoin or any other cryptocurrency available on Binance.
Please note that unless stated otherwise, the ’gift card’ is just a digital voucher code and not a physical gift card of the sort you would buy in a brick-and-mortar chain store.
What is Binance?
Binance is a cryptocurrency exchange platform that also provides other blockchain services such as offering an NFT creation and marketplace service, ICO launchpad service and cryptocurrency news pieces, among others. It has around 90 million users globally, a daily average trading value of around $2 billion USD, and facilitates an average of 1.4 million transactions per second.
How does the Binance gift card work?
The Binance gift card is a digital voucher code consisting of 16-digits that can be redeemed on the Binance platform. When it is redeemed the cryptocurrency attributed to the voucher code will be credited to the recipient’s Binance wallet. Therefore, the gift card cannot be used for anything other than to transfer cryptocurrency, and some fiat currencies, between wallets with an extra step.
Neither the giver nor the recipient will be charged for the transaction.
How to buy a digital Binance gift card
- Create an account with Binance if you do not already have one
- Buy cryptocurrency if you do not already have some
You can purchase cryptocurrency on Binance itself
- Log in to your Binance account and select the square icon on the top left icon. Then select ‘Gift Card’
This will take you to the ‘Binance Gift Card’ page
- Click on ‘Send a Crypto Gift Card’
- Fill in the order form
You will be required to choose your cryptocurrency from the drop-down menu, to fill in the amount of that cryptocurrency that you would like to transfer from your wallet to the card, the amount of gift cards that you would like to create and the gift card’s design. The design can be chosen from the options shown in the bottom left corner of the screen.
There are over 180 cryptocurrencies to choose from, as well as fiat currencies.
You can only set the cryptocurrency amount up to the maximum amount of crypto that is currently in your Binance wallet. If there is no cryptocurrency in your wallet, then you will not be able to make the purchase.
Once you are done, press the ‘Buy’ button in the bottom right corner of the page.
- Complete the 2-Factor Authentication (2FA) to confirm the transaction
This entails entering in the verification code that will be sent to the mobile phone number that is registered with your Binance account, as well as your Authenticator Code. Then press ‘Submit’
- A pop-up will appear with your Binance gift card’s 16-digit Voucher code
- Click ‘Send Now’
This will allow you to forward the voucher code to the recipient of your Binance gift card.
- Fill out the recipient details
Select the ‘Enable to bind your referral link,’ as this will add your referral link email to the gift card email that the recipient will receive.
If that person joins the platform because of your gift card, you may earn a small commission on trades that they conduct on Binance in the future.
Selecting ‘Restrict recipient account’ will ensure that the recipient is the only person who will be able to redeem the voucher code. This acts as a safeguard against someone else from stealing it from the recipient.
You can choose to send it either to their email address or to their mobile number.
NOTE: This process works slightly differently on Binance’s mobile app. There is a walkthrough of the process of buying through their mobile app on the Binance website.
How to redeem Binance gift card
Once the recipient has received the Binance gift card voucher code, they will be able to redeem it from the Binance platform. This can be done either on a desktop computer or via Binance’s mobile app.
To redeem the voucher code on a desktop, the holder will need to create a profile on Binance, and then click through to the ‘Binance Gift Card’ page.
Once on the page, they can enter in the voucher code in the prompt box at the top of the page. This will allow them access to the cryptocurrency stored in the gift card.
They can then choose to buy NFTs or trade some of it on the Binance cryptocurrency exchange platform, transfer it to an off-platform wallet or similar actions.
Any cryptocurrency not used will remain on the voucher wallet. They can review the voucher’s balance on the same panel that they redeemed the voucher on by selecting the ‘Check Card’ tab and entering in the voucher code.
Can you buy a physical Binance gift card?
It is possible to buy physical Binance gift cards. Binance offers its users the opportunity to create Binance gift cards in bulk and then print them out. The basic steps are as follows:
- Log in and go to the Binance Gift Card webpage, as described above
- Buy your gift card voucher codes
This is the same process as above, except that under ‘Enter Quantity,’ you should type in the number of Binance gift cards that you would like to create. You will need to ensure that you have enough cryptocurrency in your wallet for all of the cards prior to going to this page. Otherwise, you will not be able to complete this step. Once you have completed your bulk order, proceed to the next step.
- Click ‘Binance Code’ at the top of the page, then choose ‘Code History’
- Select ‘Bulk Create History’ at the top of the page. Then print each one by clicking the Printer icon next to each order.
- Fill in the relevant information
Under ‘Powered by’ enter the merchant’s name, meaning the name of the business how will be selling the Binance gift cards. You should also enter in your email address. Your phone number is optional.
- Click ‘Preview my gift cards’
This will allow you to confirm that the appearance and details printed on the card are accurate. If you are satisfied, confirm your choice and you will proceed to the next step.
- Confirm your printing choices
To print all the cards at once, ensure that you have set ‘Pages’ to ‘All.’
- Fold the printed cards in half
Binance advises folding each physical copy in half so that the details are concealed inside the paper. This way, they will not be visible to customers.
Of course, the downside to this is that it is no different to a regular printed wallet and is not the same as a traditional plastic gift card that the recipient might expect from a regular store.
Although it is unknown how many merchants are selling such cards in most countries, there are over 50 stores in Ghana and 200 stores in Lebanon. The purchaser can choose between over 200 cryptocurrencies and a few fiat currencies as well.
However, as with the digital version of the Binance gift card, the only way that a non-Binance user can use their card is by creating an account on Binance. A full list of participating physical Binance gift card sellers can be found here.
FAQs
Where can the physical version of the Binance gift card be used?
The Binance gift card is only a redeemable voucher, not a wallet. So, you will need to redeem it on Binance, and only then can you put the cryptocurrency to use elsewhere.
Is there a way to check whether a physical Binance gift card is real or fake?
The only way to confirm whether a physical Binance gift card is authentic is to scan the QR code with your Binance mobile app or to manually enter in the 16-digit voucher code. So, if you are buying a Binance gift card from a brick-and-mortar merchant, you might want to redeem it near your place of purchase, if it is safe enough to do so. Of course, you should also try to ensure that you do it outside the line of vision of other customers.
