Binance Card (this guide covers the virtual card) and OKX Card (virtual only) are crypto cards that keep assets on the exchange. For most users in Taiwan, Binance Card is the stronger fit: rewards have three monthly-spend tiers, up to 3%. The standard OKX Card monthly reward cap is only $5, but it can be added to Apple Pay. Fees and risks are covered below in What to know before applying.
How do Binance Card and OKX Card compare?
| Item | Binance Card | OKX Card |
|---|---|---|
| Available to applicants in Taiwan | Yes (confirmed by Penchan) | Yes (tested by Penchan) |
| Card network | Mastercard | — |
| Virtual / physical card | This guide covers the virtual card | Virtual card only; no physical card |
| Issuance fee | $0 | €0 |
| Annual fee | $0 | €0 (inactivity fee is also €0) |
| Fee on TWD spending | 2% foreign currency fee, plus crypto conversion fee (0.1% for USDC, 0.9% for other assets); Binance says these are charged in addition to Mastercard fees | — |
| Base reward | 1.5% (monthly spend below $100) | 2% (standard users, only when paying in USDG) |
| Highest reward and requirements | 3% (monthly spend of at least $1,000) | 10% (VIP 4+, with $5 million in assets or $20 million in 30-day spot trading volume) |
| Reward cap | At the 3% tier, equivalent to $100 per month; no cap listed for the other two tiers | $5 standard; $100 for VIP 1, $200 for VIP 2, and $800 for VIP 3 and VIP 4+ |
| Apple Pay / Google Pay | New Apple Pay bindings paused; Google Pay supported | Both supported |
| LINE Pay / JkoPay | LINE Pay supported (confirmed by Penchan); JkoPay not supported | LINE Pay —; JkoPay not supported |
| Custody | Custodial; assets stay in your Binance account | Custodial; assets are held in OKX Pay |
| Signup referral code | PENCHANCO | 48917075 |
The differences that matter most when choosing:
- Reward rules: Binance Card automatically moves you between tiers based on monthly spending, with no staking required. OKX Card uses your exchange VIP level; card spending does not raise it.
- Reward requirements: OKX Card rewards are paid only on USDG purchases. USDT and USDC do not qualify.
- Reward caps: the standard OKX Card cap is $5 per month; Binance Card’s 3% tier has a monthly cap equivalent to $100.
- Mobile payments: OKX Card is the only option if you need Apple Pay.
Who is Binance Card for?
- Everyday spenders: rewards are tiered by monthly spend, and exchange VIP status is not required.
- People who often use Google Pay or LINE Pay: Binance provides official Google Pay linking instructions, and Penchan confirmed LINE Pay linking works in Taiwan.
- People with a Binance account who want to spend directly from their Spot or Funding account.
Who is OKX Card for?
- iPhone users who need Apple Pay: new Apple Pay bindings for Binance Card are currently paused.
- People who subscribe to ChatGPT, Claude, or Netflix: OKX also offers subscription rewards of up to 5 USDG per month to selected users. You must pay in USDG and subscribe to a monthly plan on the merchant’s website.
- People who already have an OKX account and hold USDG, or are willing to convert to USDG in OKX Pay before spending.
- People who already qualify for OKX VIP: rewards start at 4% for VIP 1 and go up to 10%, with monthly caps from $100 to $800.
What to know before applying
- Binance: On August 10, 2026, the Taiwan (ROC) Virtual Currency Business Association named Binance on its warning list, stating that Binance had not completed anti-money-laundering registration with Taiwan’s Financial Supervisory Commission and could not solicit business from the public there through advertising or similar means.
- OKX: On June 7, 2024, it was added to the Taiwan Virtual Asset Service Provider Association’s warning list for not completing its anti-money-laundering compliance declaration.
- Both are custodial services: assets are held at the exchange, not in your own wallet.
- Binance Card rewards are paid in USDC or BTC equivalent. Tiers reset at the start of each month, and rewards already paid are clawed back when a purchase is refunded.
- OKX referral codes can only be entered during signup and cannot be added later. The Binance referral code must also be entered during signup; there is no field for it in the card application form.
How to apply
For the full steps, see the Binance Card application guide and the OKX Card application guide. For details on each card’s rewards and fees, see the Binance Card review and comparison and OKX review and comparison.
