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Writer How to set up Binance 'PAY account, send and receive coins using your PAY account

Sincerem

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HOW TO SET UP BINANCE PAY ACCOUNT, USING IT TO SEND AND RECEIVE COINS.

What is BInance Pay?
Binance Pay feature was recently added by Binance CEO 'changpeng Zhao and his executive team members. It's primary objective is simply to make boarder-less, contact-less crypto currency payment using Binance exchange platform anywhere, anytime to a fellow Binancian using the 'Pay feature.

To set up a Binance Pay wallet is one time, simply hassle-free, you don't need to stress yourself over it. Just get a Binance exchange account, complete your KYC verification process, if you never did that. After successful KYC verification, then you can head over to Binance main interface. Search for the 'Pay feature using more option in the main interface. A clear image found below will simply guide you, how to do just that.


1634812545626.png
Image from Binance.com

You'll simply see the option for 'more, click on it, it will simply take you to the full Binance application features, from there you'll find the option for the Binance 'Pay feature. Here you'll find another image showing you the Binance Pay option. Take a look at the image after you must have clicked on Binance Pay option through the 'more option I mentioned previously.
1634812677131.png Image from Binance.com

This image is showing you successful Binance Pay account. After clicking on the Binance Pay option, it will take you straight to the 'Pay application. What you'll do, is simply setting up your password to secure your Binance Pay account, you won't be required to put any additional information since Binance exchange already hold your information. Because, you did KYC verification with them. That's why I told you, setting up Binance Pay account is straightforward, hassle-free, very simple.

After setting up your password, and confirming it, then your 'Pay ID number will automatically show up for you. It's a 9 digit numerical numbers, which you'll need to copy and paste to any merchant using Binance Pay application. To send you coins from anywhere around the world. Its payment is super fast, it doesn't take more than five secs to reflect in your Pay account.

If you want to send to a merchant too, you can simply use such procedure, this time, you'll click the option for 'pay, and copy and paste the recipient's address code in the available space, and press send, and that's all. It will get to the recipient within secs, and you'll get confirmation immediately provided you sent it to the right Pay ID number.

Now you've learned the basics of using Binance Pay, if you never used it before. You can simply head over to Binance.com, and set up your own Pay account after successful registration with Binance exchange. Or simply download Binance exchange app via Google play store and set up an account using the app version.

If you're finding any difficulty towards what's been explained via the content, you can simply drop your comment below, I'll gladly help out.
Thank you for taking your time to read about 'how to set up a Binance Pay account, send and receive coins from a fellow Binancian using the Pay feature.
 
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Mika

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You can use Binance without verifying your account with KYC, but in order to use all Binance features including Binance Pay you need to verify your account. Binance pay is easy to use if you are sending funds to another Binance user.
 

Sincerem

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You can use Binance without verifying your account with KYC, but in order to use all Binance features including Binance Pay you need to verify your account. Binance pay is easy to use if you are sending funds to another Binance user.
You're simply right dearie, you need a verified Binance exchange account to access the Pay feature. Without it, it can't be accessed, that's why Binance are very strict with their KYC verification policy to know each of their customers simply for anti theft procedure.
 

Roboquine

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Thanks for this detailed information. Since I have been using binance, I never knew that something like this exists on binance.
 

Justin

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I use Binance but I have never used Binance Pay to send or receive funds. I use address for respective coins to send and receive funds and I find this easy to use.
 

saoussen5765

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You can use Binance without verifying your account with KYC, but in order to use all Binance features including Binance Pay you need to verify your account. Binance pay is easy to use if you are sending funds to another Binance user.
All accounts on Binance require verification otherwise Binance will become Withdraw Only Option verification doesn't last more than 20 minutes if you calculate total time.
 

raaman

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Hi @sinceram, what about transferring the crpytos to dollars, and cryptos to Indian currency (to my bank account in India)? Is it possible? You have not mentioned about it at all!
 

Sincerem

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Hi @sinceram, what about transferring the crpytos to dollars, and cryptos to Indian currency (to my bank account in India)? Is it possible? You have not mentioned about it at all!
Provided that Binance list Indian Rubee via it's list of fiat currencies, then it means you can withdraw directly to your bank account when you receive funds via your Pay wallet.
When you receive funds into your Pay wallet, what you'll do is move it to your spot wallet or P2P wallet if you want to make use of the P2P trading.

You can then go to sell your coins after you must have converted it to the available tradable coins via P2P method, so that the P2P merchant will deposit fiat currency to you.
 
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