Buenos Aires, October 6 – Binance, the global blockchain company that owns the world’s largest digital asset exchange, with more than 15 million users and a daily transaction volume of more than $ 20,000,000,000, launched Binance Pay, your new free, secure, contactless, and borderless crypto payment technology.
Traditionally, money has had functions of store of value and exchange medium, but until now, people used cryptocurrencies to save and invest. However, using cryptocurrencies as a form of payment has already become a reality and is increasingly accessible to everyone.
Sending cryptocurrencies, instantly, to friends or family, or using them to purchase goods and services, such as a car, a jewel, or any retail product, is currently a very easy operation through Binance Pay. There are many benefits, both for users and for merchants:
We do not have to carry cash or cards, credit or debit, to buy a product. This is a key point, especially in transactions of high amounts. Only with our cell phone and an Internet connection can we send, from our wallet to the seller’s, the amount of the selected cryptocurrency.
No prior authorizations and no commissions
To send cryptocurrencies to any user / seller we do not need prior authorizations. Unlike traditional banks, with Binance Pay the payment is made immediately upon confirmation in the application, with no amount limit.
Also, there are no commissions. The recipient of the payment only has to register what exchange rate he used for the conversion to the cryptocurrency and that’s it. The taxes that are paid for the product or service are exactly the same as in a traditional operation.
Users can instantly move funds between their Binance Pay and their personal Spot wallet, and manage payments with transaction history. The crypto chosen to pay is discounted, on the spot, and the seller receives that amount.
In addition, each user can establish in Binance Pay which cryptocurrency to use according to their preferences. Binance Pay supports more than 40 cryptocurrencies and stablecoins, although the most used as a form of payment are usually stablecoins such as USDT and BUSD (1 to 1 with the US dollar).
For merchants, Binance Pay is also an extremely attractive and easy-to-implement option.
Whether they run an e-commerce or a physical store, they can accept crypto payments with Binance Pay, using QR codes. If you want to start receiving crypto payments, enter the Binance app from your cell phone to configure the QR code.
«Binance Pay is the best option to integrate crypto payments in your business. Thanks to the large number of cryptocurrencies available, it is the most flexible option, both for the merchant and the customer. Additionally, we have a 0% commission and instant transactions, which positions Binance Pay as the best alternative to receive payments, as of today, “says Maximiliano Hinz, Binance’s Latam Operations Director.
Tomorrow’s finances are here. What are you waiting to join?