Binance Dos and Donts of Binance Pay

[sincerem]

Their is no secrete to the benefits of using Binance Pay application for making contactless, and border-less payment to merchants. Binance exchange is trying to make their Binance pay feature well-known to merchants worldwide, and become the go for making payments to those e-commerce stores that doesn't support Cryptocurrency.

Here are the Do's of using Binance Pay application;

* Payment is fast, within seconds of initiating transaction.

* It is a contactless type of payment, you just need a Pay ID with a single tap and payment is made one time, instead of writing out the long address code.

* Their is no KYC verification required to set up your Pay ID, provided you've completed your verification process to use Binance full feature. You just need to set your password, and that's all with your Binance Pay ID.

* You can make 100s of transactions faster without infringement of waiting too long to complete transactions.

What are the Donts of using Binance Pay? Everything that has merits also comes with demerits. Here are the Donts of using Binance Pay application;

* Confirmation of your coins into ON-SPOT wallet takes more than 11 hours before confirmation. Binance is working hard to get the timer reduced. At this time, its a problem to wait too long before getting to use my coins delivered from the Binance Pay feature.

* A single mistake to the recipient's ID makes the payment going to the wrong destination. That's why you need to be careful before sending the coins out.

 

[kayode10]

I am always careful whenever I am using binance pay to transfer asset to another person. I will say I am lucky because I have some friends who are making use of binance to trade cryptocurrency. They usually put me through whenever I want to transfer my coins to them in exchange for local currency.

 

[sincerem]

I am always careful whenever I am using binance pay to transfer access to another person. I will say I am lucky because I have some friends who are making use of finance to trade cryptocurrency. They usually put me through whenever I want to transfer my coins to them in exchange for local currency.

Binance Pay is one of those features that brings the beauty of transactions with Cryptocurrency. It makes transaction to another merchant looking easy, because upu don't have to bother yourself when it comes to making payments that takes time. Binance Pay is super fast and secure to get to its destination.

 

[Swissycheese]

I heard that Binance now required KYC for all customers, even those with under 2BTC