Binance is one of the most used apps in the world to buy and sell cryptocurrencies. In addition to that, it is a platform that will be great if you are looking to receive payments in Latin America from a foreign client or an international company. Whether or not you are involved in the crypto world, knowing how to receive payments through Binance in cryptocurrencies can be very useful when it comes to saving commissions and being able to control your money from your mobile. We are going to show you a very simple and step-by-step tutorial on how Binance Pay works to send and receive payments.
Contents
- 1What is BinancePay?
- 2How to activate Binance Pay?
- 3How to receive payments on Binance Pay?
- 4Advantages of receiving payments on Binance
- 5With what cryptocurrencies can I receive payments on Binance?
What is BinancePay?
There is a way to pay, send and receive crypto payments from family, friends and clients without commissions: Binance Pay. This is a new Binance feature that allows you to send and receive crypto between platform users. That is, imagine that your client has a Binance account and wants to send money to you, who also has a Binance account. Through Binance Pay you can receive that payment without commissions and at the moment.
All you need to receive these payments is to have a Binance account, verify it, and follow the steps below.
How to activate Binance Pay?
Once you have verified your Binance account, to send and receive payments you will have to access the platform and log in with your credentials:
Login to Binance
Once inside you will have to access “Wallet” in the upper menu and then “Fund wallet”.
You will now be inside your wallet, where you will have to click on “Pay” and you will be redirected to the page to activate Binance Pay. Here you have to create a profile in Binance Pay with a Nickname and a payment PIN (to confirm receiving and sending payments). I recommend that if you already have one for your Binance account, you use the same one so there is no confusion.
It is time to verify your account either with your email or with your mobile phone and voila, you will have your Binance Pay account activated.
How to receive payments on Binance Pay?
When you create your Binance Pay account, the payment section will automatically appear, where you can select the method you prefer to send money. But if you go to the top right you will see the option to receive.
The Binance QR will appear that allows you to select currency so you can decide which currency you want to receive and how much you want to charge.
If you have a client from whom you are going to receive payments on Binance on a regular basis, you can send them the QR directly or the payment ID that appears just below.
Advantages of receiving payments on Binance
As you have seen, receiving money on Binance Pay is very simple and activating the profile will only take a few minutes. In addition to being able to manage all your money through the app, this platform has a series of advantages such as:
- Free of commissions between users with Binance.
- Speed in sending, receiving the cryptocurrencies at the moment.
- Wide variety of cryptocurrencies to send and receive payments.
With which cryptocurrencies can I receive payments on Binance?
Binance Pay supports over 40 cryptocurrencies right now:
ADA, ATOM, AVA, BCH, BNB, BTC, BUSD, CTSI, DASH, DOGE, DOT, EGLD, EOS, ETC, ETH, FIL, FRONT, FTM, GRS, HBAR, IOTX, LINK, LTC, MANA, MATIC, NEO, OM, ONE, PAX, QTUM, STRAX, SXP, TRX, TUSD, UNI, USDC, USDT, VAI, VET, WRX, XLM, XMR, XRP, XTZ, XVS, ZEC and ZIL.
And this is everything you need to know to send and receive payments on Binance without commissions and instantly. As you can see, it is a very comfortable and useful way for all those who have remote jobs with companies or clients abroad and want to receive their salary through cryptocurrencies. Without a doubt, Binance is one of the most popular and safest platforms when it comes to buying and selling cryptos. And if you are just starting out in this world, check out the 10 essential tools for cryptocurrency investors .