The platform lets users send, spend, and pay with crypto anywhere in the world – all with zero fees. Binance Pay allows Binance customer to pay and get paid in crypto from your friends and family worldwide. You can also send your Binance account’s email, phone number, Binance ID, or Pay ID to your friends to receive cryptocurrency payments. Binance Pay is a simple, borderless, and secure way to send and receive cryptocurrencies from your mobile devices. You can send crypto to friends and family via email, phone number, Binance ID , or Pay ID with zero gas fees.

Buy or sell from the existing offers, or create trade advertisements to set your own prices. If you are not interested in trading but still looking to increase your crypto holdings, you can try Binance Earn. You can also buy crypto directly using your credit/debit card on the Binance website or the Lite Mode on the Binance App easily.

How long does it take for a Binance Pay transaction to be completed?

You can manage your requests from the Pay Requests & History page on your Binance.US app. Tap Requests and select the request you would like to cancel and click the Cancel button. If you would like to reject an incoming request, click the Reject button on the Pay Requests & History page. Some payment networks will charge fees for the service they offer. Trade crypto with the freedom to buy and sell at your preferred prices.

Customers are able to receive up to $1 million in cryptocurrency per 24 hour period. Customers can request crypto from other users a maximum of 10 times in any 24 hour period. To start using crypto like cash, download the latest version of the free Binance.US app.

However, there is a 0.9% conversion fee when converting from crypto to fiat currency. Send money to the seller via the suggested payment methods. Complete the fiat transaction and click “Transferred, notify seller” on Binance P2P. Set up your Merchant account and you can proceed with the Direct Integration of crypto payments via Binance Pay.

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Gucci, Jacob & Co and Travala are some of the notable entities that have already integrated SHIB payments. Unlike credit card or bank transfers, peer-to-peer exchanges do not collect information about buyers and sellers. In this scenario, users are able to make payments by scanning QR Codes provided by Binance and shown by merchants. To specify the cryptocurrency and the amount you want to receive, tap . Tap the icon on the App homepage to access Binance Pay.

So whether you want to pay back a friend or purchase an item, there are multiple options that use blockchain technology. Moreover, the announcement disclosed that MOVii, a renowned digital financial payments resource based in Colombia, will be responsible for issuing the card. Binance has also noted that there will be no fees charged for ATM withdrawals and that eligible purchases will have an 8% cashback feature.

Is Binance Pay available for all users?

Both Visa and Mastercard currently offer crypto card options through different financial service providers. Crypto payments provide a cheap, quick, and fast way to transfer funds. There’s no need to use local fiat currencies for international transfers. A payment service will often be more intuitive than a wallet and also have customer support. On the other hand, a payment gateway provides less control, may charge fees, and takes longer to set up than a standard wallet.

Binance Pay will generate a unique QR code based on the payment details. Tap and send it to your friend to receive cryptocurrency payments. Payment requests can be managed by selecting Wallet and then Pay Request & History. On the Pay Requests & History page, navigate to the Requests tab. From the list of requests on this page, users can choose between incoming requests, like Pay or Reject or outgoing requests, like Cancel or Remind. To view transfer details such as status, date, amount, and token, tap the History tab and select a transaction.

To access Binance Pay from the website, log in to your Binance account and go to – . With just a few taps, you can crypto payment system access Binance Pay easily from the Binance App. Binance Pay currently supports more than 70 cryptocurrencies.

How do crypto payments work?

After the transfer is complete, you will receive email and SMS notifications. The funds will be directly credited to your Funding Wallet. You may check the transaction history by tapping the https://xcritical.com/ payment history icon from Binance Pay. This is usually done via a payment gateway to make the process simple. You can even use crypto to pay for items in fiat currency with a crypto card.

The payer scans the QR code with the app and confirms the payment. As there is no way to return a crypto transaction, these often lead to significant losses. Enter the seller’s email, add currency, and amount. You can also choose to add the order number in the ‘Note’ field as a reference.

The crypto is transferred to the payee’s account or digital wallet. On the hunt for a fuss-free way to buy cryptocurrency? Try using Binance Pay as a payment method on Binance P2P. If you’re new to crypto, be sure to visit Binance Academy – your one-stop guide to learn all about blockchain and crypto. After getting your first crypto, you can start exploring our versatile trading products. In the Spot market, you can trade hundreds of crypto, including BNB.

Open the Binance app and click the scan code icon in the upper right corner to scan and pay. Cashback voucher when you pay with Binance Pay with a minimum spend of US$10.00. Once the seller confirms receipt of money, the escrowed crypto will be released to you. Once you place a P2P order, the crypto asset will be escrowed by Binance P2P. Binance user makes collection request from others in 3rd party application.

Crypto cards for payments

Simply click the QR button and share it in person or via any messaging service. You can use crypto cards in more places than crypto payment gateways. However, it’s trickier to pay a friend directly unless they can accept card payment. If the payee wants to be paid in crypto, then a card also isn’t suitable.

• With over 700+ payment methods and 100+ fiat currencies to choose from, our P2P platform is one of the most accessible gateways for users to access crypto.
• Users looking to send staked assets will need to go through the unstaking process, outlined here, before sending crypto that has been previously staked.
• After getting your first crypto, you can start exploring our versatile trading products.
• Unlike credit card or bank transfers, peer-to-peer exchanges do not collect information about buyers and sellers.
• Accepting crypto as a payment method still isn’t widely accepted.
• Please note that Binance Pay as a payment method on our P2P platform currently only supports UAH and RUB fiat currencies.
• Moreover, the announcement disclosed that MOVii, a renowned digital financial payments resource based in Colombia, will be responsible for issuing the card.

To start using Binance Pay, please register on Binance.com and complete your Identity Verification. With Binance Pay, to pay someone via QR code, simply scan their Binance Pay QR code with your Binance app. Customers are allowed to send their entire available balance up to $1 million. No more than 50 sends can be completed in a 24 hour period. Any Binance.US mobile app user who has verified their identity can use the Pay feature on Binance.US.

Crypto Payments Explained

To change your payment method, click and choose . Please check that the recipient and the amount you send are correct before clicking . Access and manage funds for both Binance Pay and Binance Visa Card using a single wallet.

You can also create a QR code that specifies an amount, cryptocurrency, and message to be sent to the counterparty. Binance Pay also has a list of Merchant Stores that accept payments through the service. Crypto payments are becoming more widely accepted by retailers, individuals, and businesses. While you can transfer funds manually, payment gateways provide a simpler way to accept crypto payments. This saves you from manually copying addresses and making mistakes.

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Select the token you want to send, the amount you want to send and the number of recipients. Each recipient will receive a randomly generated amount of crypto until all funds are redeemed. Instantly send crypto to your friends and family worldwide. Binance Pay is a fast and safe way to send crypto to your friends and family, all with a single tap. Pay, send and receive crypto—all with zero fees.