llo everyone it's Petko Aleksandrov, hope you are doing well and in today's video
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I'll be sharing the differences between the Binance visa card and the Crypto.com visa card
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and I know many YouTubers have reviewed them and they compared them but you will notice with
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most videos that the YouTubers doing that they don't have those cards, they're just reviewing
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the conditions on their websites which obviously you can do as well but I have been using Binance
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visa card and I have been using Crypto.com cards for quite a long time now and I can tell you
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the most important that you need to know and actually my Crypto.com card is in my car so let
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me go straight in there. Alright guys, right in my car, I believe yep here it is because I usually use
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it on the Gas stations here is the Crypto.com visa card and why not actually going to the Gas station
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right now so I can show you how it practically works instead of going back to the office
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This is a Crypto.com visa card versus Binance card and the first thing I need to compare is the first
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impression and I actually keep in here yep there they are okay, this is the envelope that I received
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the Binance card okay, a very average envelope and inside I have a piece of paper, welcome to your
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Binance cards and a few things you can do, this is how it looks like okay, but pay attention to how
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I have received the Crypto.com card, this is the envelope, alright and look at that when you open
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it, you find the cards in here, this was where it was placed, okay I have some money in right now
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but I got it into this piece of envelope which is pretty cool isn't it and as well I have
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received obviously, it's not a personal one but it is from the Co-founder and the SC of Crypto.com
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kind of a letter, okay so definitely the first impression is way better on Crypto.com compared
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to the envelope from Binance, common Binance you can do so much better than that. And the next thing
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when we're talking about impressions is that when you hold the Crypto.com card here we go and you
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hold the Binance card there is a huge difference, you know why, because the Crypto.com actually
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is a metal card, it's much heavier and when I give it in the hands of someone in the shop or
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if I give it to my wife or friends to use it, they always have the same first impression when they
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get it, whoa! It's heavy and I say yep because it is a metal card. The Binance is just
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an average plastic card, definitely a better first impression goes to Crypto.com, of course that's not
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the most important thing right. Now I will go to the Gas station to put some gas in my car
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and while I'm going there I will explain what is the most important thing you get
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when you are using Crypto cards such as Crypto.com visa card and Binance card, it is the cashback you
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receive, so for every purchase right now I'll be putting gas in my car, I will get a cashback
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it depends on the type of cards you have, I have reviewed them separately I will drop links down in
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the description so you can see exactly what's the different criteria when you are choosing the card
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and you will know which card suits you better, for example if you select to use the Crypto.com card
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you will see the different types of card explained in the video and how much money you need to stake
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So when you are using Crypto cards you get cashback, for every purchase let's say you spend
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50EUR on a purchase you are getting cashback, depending on the type of card you have for example,
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on those two cards right here, I have 2% cashback, with the Crypto.com, it depends how much
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you are staking or how much you are locking as CRO, this is the token of Crypto.com and with the
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Binance it depends how many Binance coins you have or BNB coins you have in your wallet
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so you are getting more or less cashback on every purchase, but the most important thing is, when
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you're getting the cash backs you get the token you're not getting fiat money as Dollars, Euro
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or any Pounds yen wherever you are, okay you're getting the token with the Crypto.com visa card
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you're getting CRO coins as a cashback, if you spend $100, you get $2 with my type of card
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as a cashback or I'll be getting $2 in CRO coins, if the CRO coin sits at 0.50
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0.50 or 50 Cents, I'll be getting 4CRO coins, if I spend a hundred Dollars, I hope this makes
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it clear it's the same thing with the BNB or the Binance coin. So here comes probably
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the most important thing which coin or which token you want to hold is it's CRO or is it BNB and
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from my trading perspective as a trader definitely BNB has more value, you know where it sits today
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and so where is the CRO coin, this is because the BNB has way lower number of coins in circulation
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compared to CRO coins even they have burned some in the past still, CRO coin is much depreciated
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on the other hand if you earn more CRO coins, when you are purchasing with your Crypto.com
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and in time if the coin increases in value that would be better right, but if you want to go for
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the more valuable token at the moment and hold more BNBs definitely, I give a point here to
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the Binance just because the token is way more appreciated, but here is a huge note guys, with the
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Crypto.com I can fund it with another visa card from a bank account with a fiat currencies okay
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but with BNB or the Binance card, I can fund it only with Crypto, for example if I wanna
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spend what is it $100, I can put some Bitcoin, Ethereum and in time when I'm purchasing
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they will convert and I will spend those money but here is the trick, this is a taxable event
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Every time you put Crypto in your card and you spend it as a fiat money,
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you are supposed to pay taxes and can you guess how many transactions you are doing in 1 year, I
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bet hundreds or even thousands of them, right so it gets really hot and a lot of people don't realize
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that but when you put Crypto in your Binance card and you make purchases those are taxable events
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guys you need to pay taxes of course it depends where you live but in most countries you need
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to pay taxes, my solution here is very simple I just make bigger transactions with the Crypto on
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Binance, for example if you have bought a Bitcoin at $20,000 and you decide to sell
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it at 40,000 you have a 100% profit or that would be $20,000 as
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a profit, you know how much taxes you have to pay and you are spending this $40,000
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on your Binance card, but if you make small transactions 20, 50, 5, 3, 40 or whatever every time,
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this will be really hard for you at the end of the year to pay your taxes, that is why with the small
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transactions, I prefer to use the Crypto.com because I don't need to fund with Crypto I can
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top up with fiat money and as well when the Crypto market is going up and I want to hold it for
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longer, I don't feel like selling my Cryptos, I prefer to top up the card with fiat money and
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I'm still getting those cashbacks, okay where on Binance we don't have that option, you can top up
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only with Crypto, so that's a huge thing to know and I will see you just on the Gas station guys
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and
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here I am at the Gas station, let's put some gas with the Crypto car so what you need to
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bear in mind is that those are visa cards and you can purchase anything
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where they have post terminals as well one thing I forgot to mention is that you can purchase online
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and even when you are ordering the card before it arrives you can use it for online purposes, okay
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Voila that hard to do, now it is time to go back to the office guys. Okay
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guys, so you already saw how that works, it is super cool to have a Crypto card,
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gives you cashback, it depends what you're looking for, if you want to save CRO or if you want to keep
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BNB, it is up to you, I will be happy to see your thoughts in the comments below
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and I will see you in another video, if you just subscribe, do it now cheers
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...
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