Besides the Binance Visa Card, you can also use Binance Pay to perform cryptocurrency payments. Binance Pay is a service that allows you to pay and get paid in cryptocurrencies. It´s a special Binance feature that many users are not aware of. That´s probably because Binance has so many different features that it can be quite confusing, especially for beginners.
In this post, I´ll explain what Binance Pay is and how it works.
What Is Binance Pay?
With Binance Pay, you can pay and get paid in cryptocurrencies from your friends, family, or customers worldwide. The transactions are secure and usually confirmed instantaneously.
Right now, Binance Pay is supporting a wide variety of more than thirty cryptocurrencies including BTC, BNB, BUSD, ETH, ADA, ATOM, BCH, DASH, DOGE, DOT, EOS, ETC, FIL, HBAR, LINK, LTC, MATIC, NEO, PAX, QTUM, TRX, TUSD, UNI, USDC, VET, WRX, XLM, XMR, XRP, XTZ, ZEC, USDT, FRONT, STRAX, ONE, EGLD, and SXP.
Binance Pay is currently only available to eligible users. Please check by yourself if you are eligible to use Binance Pay or not.
How To Use Binance Pay?
Binance Pay is not only for professionals. The Binance Pay account is quite easy to set up. You need to be registered on Binance and you need to have the Binance app installed on your smartphone.
Log in to your account on the Binance app, click on your profile, and then on "pay".
Now you can top up your Binance Pay wallet with assets from your spot wallet or you can simply skip for now and fund your Binance Pay wallet later.
Your Binance Pay wallet is ready to use and you can set a payment priority order for the assets in your Binance Pay Wallet.
The dashboard of your Binance Pay Wallet will look like this. You can now pay, receive, and transfer your funds. You can also access the Binance Pay QR code scanner quickly from the home screen of your mobile phone. You will also get a small introduction on the screen and you can additionally watch a quick tutorial.
My Final Thoughts
I don´t know in detail who is eligible for Binance Pay and who is not. Please check by yourself. If you are eligible, you have an easy way to spend your crypto. It´s an alternative to the Binance Visa card when it comes to paying with crypto.
Finally, I also like to remind you that my intention in this post is to raise your awareness of Binance Pay and my intention is not to replace your own research.
If you are not registered on Binance yet, you can use my referral link with the invitation code E3PGAJCE for signing up. When you use it, it will save you trading fees each time you perform a trade on Binance. Don`t forget about this possibility when you introduce your friends and family to cryptocurrency as it will save both of you some money.
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