In the ever-evolving world of cryptocurrency, Binance Pay stands out as a game-changer. Whether you’re sending money to friends, paying online, or running a business, Binance Pay makes it easy to use crypto like cash—instantly, globally, and with little to no fees. Let’s explore how this powerful tool works and how you can start using it today.

What is Binance Pay?

Binance Pay is a contactless, borderless, and secure crypto payment system developed by Binance. It allows users to send, receive, and spend crypto with other Binance users and merchants worldwide—without gas fees or traditional banking delays.

Think of it as a crypto wallet that works like PayPal or Google Pay, but with digital assets.

Step-by-Step: How to Set Up Binance Pay

  1. Create and Verify a Binance Account

    • Sign up at Binance.com or the Binance app.

    • Complete KYC verification (ID and selfie) to unlock Binance Pay.

  2. Access Binance Pay

    • Open the Binance app and tap on Pay from the homepage.

    • On desktop: Go to Wallet → Funding → Pay.

  3. Activate Binance Pay

    • Set a Pay nickname (your public ID for payments).

    • Choose a secure six-digit Pay PIN (used to approve all transactions).

    • Binance Pay is now ready to use!

How to Send and Receive Crypto with Binance Pay

Sending Crypto

  • Go to Pay → Send.

  • Enter the recipient’s email, phone number, or Binance UID.

  • Choose your coin (e.g. USDT, BTC, BNB) and amount.

  • Confirm with your Pay PIN.

Receiving Crypto

  • Go to Pay → Receive.

  • Select your preferred coin.

  • Show your QR code or share your email/UID with the sender.

  • Once scanned, funds arrive instantly in your Funding Wallet.

Bonus Tip: Transfers are off-chain, so they’re instant and gas-free.

Supported Cryptos and Countries

  • 300+ coins supported: $BTC , $ETH , $BNB , SOL, XRP, USDT, USDC, FDUSD, and more.

Available in most Binance-supported countries.

Note: Not available in restricted regions like the U.S. or some EU countries due to regulations.

How Merchants Can Accept Binance Pay

Binance Pay is tailor-made for online and in-store merchants:

Integration Options

  • WooCommerce Plugin for WordPress websites.

  • Custom APIs for developers and large businesses.

  • Binance Payment Links for freelancers or small businesses.

Merchant Setup

  1. Register a Binance Pay Merchant Account.

  2. Submit KYB documents (business verification).

  3. Generate payment links or integrate with your e-commerce store.

Thousands of businesses—cafés, stores, travel agencies, even governments—now accept Binance Pay globally.

Popular Use Cases

  • Send Crypto to Friends – Instantly and with zero fees.

  • Pay Online – Shop on platforms that accept Binance Pay.

  • Crypto Tourism – Bhutan now allows full travel payments via Binance Pay.

  • Freelancers & Contractors – Get paid in crypto without border issues.

  • Mobile Top-Ups and Gift Cards – Buy digital products instantly.

Fees and Speed

Feature. / Binance Pay

P2P Transactions / 0% fee (under $140K/month)

Above $140K/Month. / $1 per transaction

Merchant Fees. / Usually 0–1%

Transaction Speed / Instant (off-chain)

Network Fees for Withdrawals / Applies only for on-chain

Security Features

  • Pay PIN & Two-Factor Authentication (2FA).

  • Encrypted transactions and cold wallet storage.


  • SAFU insurance fund to protect user funds.


  • Automatic refunds for failed transactions.

Benefits Over Other Payment Methods

  • No Chargebacks – Finality of crypto.

  • Lower Fees – Save 2–5% compared to credit cards.

  • Faster Settlements – Instant for both users and merchants.


  • Global Access – No currency exchange or cross-border fees.


  • Stablecoins Available – Send $USDt USDC, FDUSD, etc.

Recent Updates (2024–2025)

  • Bhutan’s Tourism Crypto System – National crypto payments via Binance Pay.

  • xMoney Partnership – 20,000+ EU merchants integrated.

  • New Payment Method – External wallet support (with fees).

  • Channel Partner Program – Faster merchant onboarding.

Tips for Users and Merchants

  • Use stablecoins for consistent value.


  • Double-check UIDs before sending.

  • Display Binance Pay logos clearly on merchant sites.

  • Test payment flows before launching live sales.

  • Enable 2FA and secure your Pay PIN.

Conclusion

Binance Pay is turning crypto into a real-world payment tool. With zero-fee transfers, instant settlement, and growing merchant adoption—it’s reshaping how we send and spend digital money. Whether you’re an individual looking to pay globally or a business aiming to expand your payment options, Binance Pay is fast becoming the go-to crypto wallet of the future.

#BinancePay #BinanceSquareTalks @Daniel Zou (DZ) 🔶
@Karin Veri