Exchange News- The service went into beta internationally in February 2021 for peer-to-peer payments.
- The exchange clarified that all Pay transactions would be free of any gas or fees.
After being available to clients outside the United States since 2021. Binance US has now implemented the Binance Pay service for cryptocurrency transactions.
Mobile users of the Binance app in the U.S may quickly trade roughly 150 supported cryptocurrencies without fees. The service went into beta internationally in February 2021 for peer-to-peer payments. And on March 12, it was extended to accommodate merchant transactions.
Zero Gas or Transaction Fees
In a blog post published on December 13th. Binance US clarified that all Pay transactions would be free of any gas or transaction fees. And that the app is now only accessible on mobile, with a web version “which will arrive in the near future.”
Amid the current FUD directed at Binance globally. Binance CEO Changpeng Zhao (CZ) praised Binance America, telling them, “Keep building!” U.S. customers must upgrade to the most recent app version, verify their identities, and add funds to their Pay wallet.
Although the service is free, it can only be used for making exchanges between users of the Binance US mobile app. In a given 24-hour period, users may send and receive up to $1M in cryptocurrency. The worldwide cryptocurrency market has been experiencing some turbulence as this recent statement has been made. Investors are frantically pulling their money out.
A Reuters report on December 13 suggested that the United States Department of Justice (DOJ) is nearing the end of an investigation into Binance that began in 2018. With U.S. prosecutors apparently split over whether there is enough proof to tap criminal charges against the exchange and its executives, which is believed to have prompted the withdrawals.
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Source: https://thenewscrypto.com/binance-u-s-introduces-binance-pay-service-for-u-s-users/