Jasz
VIP Contributor
While bank transfer is the most traditional method of transferring money, and it may be comforting to go with what you know, Binance Pay is generally easier and less costly.
Binance Pay allows you to send and receive cryptocurrency directly from your wallet, making it more efficient than the more traditional method of bank transfer. It's also a lot cheaper: according to a survey conducted by the FCA, bank transfers cost an average of 19 pounds to send, whereas Binance Pay doesn't charge any fees for domestic or international payments.
Binance Pay also has a larger network of supported countries than bank transfer does—while some bank transfers can only be sent between certain countries or regions, Binance Pay is available in all countries where cryptocurrencies are legal.
However, You should use both. If you're just starting out in ecommerce, you can use bank transfers to receive payments from your customers—anyone with a bank account can quickly and easily send a transfer. However, as your business grows and international customers start coming to you for products, you'll want to accept more payment options than just bank transfers. Binance pay provides more flexibility for your customers when it comes to how they pay for their purchases.
Binance Pay allows you to send and receive cryptocurrency directly from your wallet, making it more efficient than the more traditional method of bank transfer. It's also a lot cheaper: according to a survey conducted by the FCA, bank transfers cost an average of 19 pounds to send, whereas Binance Pay doesn't charge any fees for domestic or international payments.
Binance Pay also has a larger network of supported countries than bank transfer does—while some bank transfers can only be sent between certain countries or regions, Binance Pay is available in all countries where cryptocurrencies are legal.
However, You should use both. If you're just starting out in ecommerce, you can use bank transfers to receive payments from your customers—anyone with a bank account can quickly and easily send a transfer. However, as your business grows and international customers start coming to you for products, you'll want to accept more payment options than just bank transfers. Binance pay provides more flexibility for your customers when it comes to how they pay for their purchases.