If, you ask me is BINANCE Pay (BP) alternative to PayPal.
The answer is heck no, this new idea or maybe a mix of ideas.??
BP has launched around 2 months ago and available for verified users and on mobile devices. Actually, BP is also like Binance account but here you can not trade your cryptos only can spend and receive just like fiat mobile wallet scane and pay.
Is it a PayPal alternative, no it's not, on PayPal you have to add fiat money and then buy crypto and your bank or card will charge for it while BP only allows to add cryptos present in your Binance account and charge zero fees?
Binance Pay is a contactless, borderless and secure cryptocurrency payment technology designed by Binance. Binance Pay allows you to pay and get paid in crypto from your friends and family worldwide. Let us understand how this new crypto payment technology closes up the circle for our different users within the Binance ecosystem. Live the crypto lifestyle you always wished for #LiveCrypto.
BP currently supports more than thirty cryptocurrencies.
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.
Pay feature available in the mobile app. In order to use BP download BP mobile app and then log in with your actual Binance account and then click on PAY and add the amount of money, you want to transfer crypto from the Binance account to BP.
How to pay with BP.
1. Click on pay and scan QR code or enter receiver Pay ID. (Pay ID contains 8 digit numbers. Ex - 94143867 )
2. Input payment details like name, amount.
3. Enter pin verification to confirm and click on pay.
4. Your payment will confirm.
To receive crypto in BP, set up your BP account. And then send Pay ID or say scan QR code to sender. Remember listed crypto you can send and receive mention above.
There is one question why BP when we already have a Binance crypto wallet I think this the first step of Binance to launch a Pay wallet like regular fiat mobile wallet. The intention behind this pay wallet is to scan and pay with zero fees among Binance users.
Just started using Binance Pay but didn't receive or send crypto yet.
By the way what you think about BP. Are you using it or not let me?????
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