Just In: Binance Pay Launched in the US Amid Turbulent Crypto Market

• Cryptocurrency exchange Binance has opened its payments system Binance Pay to its American customers.
• The announcement has come amid a turbulent period for the global crypto exchange.

Binance Pay, a contactless, borderless, and secure cryptocurrency payment mobile application designed by Binance, is now available to US customers. The service was first launched in 2021 for customers outside of the US, and it allows users to transact over 150 cryptocurrencies with zero gas or transaction fees.

To use Binance Pay, users must first update to the latest version of the Binance.US app and verify their identity. Once their identity has been verified, they can load their Pay wallet with cryptocurrency and start making payments.

Binance Pay can be used to make peer-to-peer payments, as well as payments to merchants. When making a payment to a merchant, the merchant will provide a QR code that the user can scan with their Binance Pay app. The user will then enter the amount of cryptocurrency they want to pay and confirm the transaction.

Binance Pay is a convenient and secure way to make payments with cryptocurrency. It eliminates the need to enter complex deposit or withdrawal addresses, and it offers zero gas or transaction fees. Additionally, Binance Pay is available on mobile devices, making it easy to use on the go.

The launch of Binance Pay in the US comes at a time when the cryptocurrency market is facing some challenges. The price of Bitcoin has been declining in recent months, and there have been reports of regulatory scrutiny of cryptocurrency exchanges. However, Binance Pay could help to boost the adoption of cryptocurrency in the US by making it more convenient and affordable to use.

In addition to the launch of Binance Pay, Binance.US has also recently made a number of other changes in an effort to attract more users. The exchange has gotten rid of trading fees for Bitcoin and Ethereum, and it has also launched a new staking program. These changes are likely to help Binance.US to compete with other cryptocurrency exchanges in the US market.

Overall, the launch of Binance Pay is a positive development for the cryptocurrency industry. It makes it easier and more affordable for people to use cryptocurrency, which could help to boost adoption. Binance.US is also making a number of other changes that are likely to attract more users to the exchange. These changes could help to make Binance.US a more competitive player in the US cryptocurrency market.

Here are some additional details about Binance Pay:

• Binance Pay is available on iOS and Android devices.
• Users can transact over 150 cryptocurrencies with Binance Pay, including Bitcoin, Ethereum, Tether, and Binance Coin.
• Binance Pay transactions are instant and secure.
• There are no gas or transaction fees for Binance Pay transactions.
• Binance Pay can be used to make peer-to-peer payments and payments to merchants.
• To use Binance Pay, users must first update to the latest version of the Binance.US app and verify their identity.

Here are some of the challenges that Binance is facing:

• The price of Bitcoin has been declining in recent months.
• There have been reports of regulatory scrutiny of cryptocurrency exchanges.
• Binance is facing a criminal investigation focused on its compliance with US anti-money laundering (AML) laws.
• The complexity of Binance’s corporate structure makes it difficult to get a clear picture of the company’s balance sheet.

Despite these challenges, Binance is still a leading cryptocurrency exchange. The launch of Binance Pay could help to boost the adoption of cryptocurrency in the US, and the other changes that Binance is making are likely to attract more users to the exchange.