Since the feature’s initial rollout in February 2021, it has been accessible to customers of Binance based in countries other than the United States of America. When asked about potential applications of cryptocurrency, Binance founder and CEO Changpeng “CZ” Zhao stated that making payments is one of the most apparent use cases for crypto.
Binance.US Pay is designed to enable users to send, request, and receive nearly 150 different cryptocurrencies from other users, making it possible for users to make immediate cost-free cryptocurrency transactions.
Binance recently removed trading fees for bitcoin (BTC) and ether (ETH) in an effort to attract more customers during a time when the volume of crypto trading has been low.
According to the company, its payment system makes it possible to transfer cryptocurrency to contacts without the need to enter a complicated deposit or withdrawal address, pay gas fees, or wait an unknown amount of time for the transactions to be successfully completed. It is because users no longer need to enter such information.
Users of Binance.US will have immediate access to the feature, and the cryptocurrency exchange is also hard at work developing a web interface for the feature.
