Binance Payment has just launched two important upgrades to make cryptocurrency transfers faster, easier, and safer.

The upgraded version includes sending money via contacts and on-chain transfers, meeting the diverse needs of users with over 300 types of cryptocurrencies, eliminating gas fees and minimizing manual operations.

MAIN CONTENT

  • Quickly transfer money via contacts without needing to enter wallet addresses or emails.

  • Support for over 300 types of cryptocurrencies, completely gas-free.

  • Convenient on-chain transfers by scanning QR codes or taking pictures of wallet addresses.

What is Binance Payment Contact Transfers and what makes it special?

Binance Payment Contact Transfers allows for quick and safe cryptocurrency transfers for contacts on your phone without needing to enter wallet addresses or complex information.

"We aim for the simplest user experience, where you just need to select the recipient from your contacts and send cryptocurrency in seconds." – Binance Payment Product Director, 2024.

Head of the Binance Payment Product Department, 2024

This solution allows users to choose from over 300 types of cryptocurrencies to send to their phone number or contacts without incurring gas fees, eliminating the risk of mistakes when entering long and complex wallet addresses as before. This feature improves the experience, minimizes time, and increases security.

What conveniences does on-chain money transfer on Binance Payment offer?

On-chain transfers using Binance Payment allow users to easily send cryptocurrency by scanning QR codes or quickly taking pictures of wallet addresses, without manual entry.

"Eliminating complex data entry steps significantly reduces the risk of errors and enhances transaction speed on the blockchain." – Blockchain Expert XYZ, 2024.

Blockchain Expert XYZ, Technology Report 2024

Users do not have to enter long strings of characters or handle complex network operations. This feature optimizes on-chain transaction activities, increases speed, and ensures safety for cryptocurrency transactions, very useful for newcomers or investors who require quick and high accuracy.

What is the importance of not incurring gas fees in cryptocurrency transfers?

Sending cryptocurrency through Binance Payment Contact Transfers without gas fees significantly saves costs for users.

Gas fees are typically additional costs incurred in blockchain transactions, especially when the network is crowded, which can be costly and slow down transactions. The elimination of gas fees for over 300 types of cryptocurrencies allows users to send at the lowest cost, optimizing financial efficiency when using the money transfer service.

Real-life examples of the impact of upgrades on Binance Payment

According to the official report from Binance, since the update of these two new features at the beginning of July 2024, the transaction volume through Binance Payment contact transfers increased by 35% in the first week of launch.

Data from the system shows that the error rate when entering wallet addresses has decreased by over 60%, helping to increase user satisfaction and promote the expansion of the Binance cryptocurrency ecosystem.

How do these improvements enhance the user experience?

The new solutions eliminate manual data entry, streamline processes, and reduce the risk of errors, thereby helping users feel secure, save time, and use the service more effectively.

According to an internal survey conducted by Binance Payment in 2024, over 90% of users rated the contact transfers feature as easy to use and reliable, increasing customer retention on this platform.

Frequently Asked Questions

  • Does Binance Payment Contact Transfers incur any fees?
    No gas fees and no additional costs when using this feature.

  • How to transfer money on-chain via Binance Payment?
    Users just need to scan the QR code or take a picture of the wallet address, no manual entry required.

  • How many types of cryptocurrencies are supported in contact transfers?
    Over 300 types of cryptocurrencies are supported for gas-free transfers.

  • Is this feature safe?
    Yes, it is secured by Binance's security standards and modern blockchain technology.

  • Will newcomers find these features easy to use?
    Very easy, the interface is designed to be user-friendly and to simplify all operations for users of all skill levels.

Source: https://tintucbitcoin.com/binance-payments-mo-rong-chuyen-tien-dien-tu/

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