May 15, 2021

Binance crypto exchange launches payments app in alpha

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Binance has released its payments app, Binance Pay, in public alpha. The app is a contactless peer-to-peer cryptocurrency payment feature that lets users send and receive payments in cryptos like Bitcoin (BTC).

Binance initially rolled out Binance Pay in a soft launch in February 2020 for P2P payments, enabling 250,000 users to interact with the product. Today, Binance Pay is launching in alpha with new features like merchant-based transactions and is available to all users.

A spokesperson for Binance told Cointelegraph that the new service is not limited to certain jurisdictions and is “currently available to all eligible users on Binance.com.” In order to get started with Binance Pay, users need to sign up on Binance and complete their identity verification.

“Users need to go to the Pay function on their Binance app to initiate the Pay account to start using the service. Once activated, users can fund their Pay wallet by moving funds from the spot wallet,” the representative explained.

Binance Pay supports more than 30 cryptocurrencies including Bitcoin, Ether (ETH), Binance Coin (BNB), and supports five fiat currencies including the euro, British pound,Title: Binance crypto exchange launches payments app in alpha
Sourced From: cointelegraph.com/news/binance-crypto-exchange-launches-payments-app-in-alpha
Published Date: Fri, 12 Mar 2021 09:00:00 +0000