As we well know, cryptocurrencies as a means of payment have problems relating to the creation of infrastructures that guarantee low-commission and immediate payments, which is why to date there are still very few cases of application in the traditional world.
Binance Pay, launched in 2022, was created precisely to reverse this trend and has since recorded truly promising results.
During the year 2023, the platform experienced its best year with a 71% increase in volumes reaching $77 billion and a base of 12 million users.
*Binance Pay is nothing more than a cryptocurrency payment service that allows users to make payments quickly, securely and conveniently using some of the top cryptocurrencies, obviously including Bitcoin, Ethereum, BINANCE Coin and others for a total of 70 cryptocurrencies.
The introduction to CEX and Trust Wallet, as well as numerous other collaborations with various players in the sector and a long series of discounts with some companies of the caliber of Decathlon, hotel chains etc..., have certainly given a big boost to growth and upon adoption of the service.
Clearly it is a service developed by Binance, which therefore offers a user-friendly experience while sacrificing the industry's own decentralization.
With all its limitations, Binance Pay still appears to be one of the most decisive crypto adoption processes and which is closest to traditional commerce, giving even small shops the opportunity to use it as a payment method.
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