📉 The new Binance Card

I will talk about the experience in Mexico where we saw a clear experiment: Bitso Card, a crypto card with transparent fees, direct conversion to MXN, and no double conversion tricks.

What was the result?

It did not survive. It was withdrawn in 2025 due to low adoption and little profitability.

And now Binance Card appears, backed by Mastercard, with a completely different model: crypto conversion → USD → MXN, variable spreads, and costs that are not always shown before payment.

Users have already documented several problems:

- Double conversion that raises the cost of each purchase.

- Hidden spreads between the displayed price and the final charge.

- Balance holds that take days to release.

- Charges greater than expected, especially for domestic payments.

- Slow support to clarify discrepancies.

While Bitso Card died being transparent, Binance Card moves forward with a model where the user only discovers the real cost after paying.

If the “clear” card was not sustainable, we will have to see how long one that operates with reports of implicit fees and unfavorable conversions lasts.

The question is not whether Binance Card works today —it does work— but whether this product with those comments of high spread can sustain itself when users do not really understand how much they are paying to use it.

Time will tell if Binance Card consolidates…

or if it ends up in the same drawer of good ideas on paper, but unsustainable in practice.

What has been your experience with #Binancecard ?