The integration between Binance Pay and Injective (INJ) is indeed the beginning of a remarkable development and impact for merchants and users, resulting in a significant expansion in the usage of cryptocurrency usage of real-world across global platforms. Let’s explore the steps required in setting up a binance pay for INJ transactions.
Step 1: Register and Verify Your Account on Binance.
- Start by creating an account on the Binance platform if you don’t have one. It will require providing your email address and creating a secure password.
- Complete the Know Your Customer (KYC) verification by submitting the required identification documents. This is an essential step in activating your Binance Pay feature
Step 2: Accessing Binance Pay.
- Once verified, you can access Binance Pay either through the Binance app or via their website. Look for “Pay” option under the ‘Wallets’ or ‘Funding’ tab.
Step 3: Activate Binance Pay.
- For new users, setting up your Binance Pay account involves creating a nickname and a secure Pay PIN, which will be used to authorize transactions.
Using INJ on Binance Pay.
1. Making Payments with INJ.
- To make a payment with INJ, go to the Binance Pay section, and choose INJ as your payment currency.
- You can send INJ by entering the recipient’s Binance ID, email, phone number, or by scanning their Binance Pay QR code. This can be done directly through the app.
- Payments to merchants can also be made by scanning a merchant’s Binance Pay QR code at the point of sale or by using provided payment links or app checkouts.
2. Receiving Payments in INJ.
- To receive payments, you can generate a QR code in your Binance Pay which others can scan to send you INJ.
- Alternatively, provide your registered email, phone number, or Binance ID to the payer who can then transfer INJ to you using these details.
Benefits of Using Binance Pay with INJ.
- Global Usage: Binance Pay facilitates global transactions, allowing you to use INJ for a wide range of services including booking flights and hotels.
- Ease of Use: With the integration of INJ, users can enjoy seamless transactions for both personal and merchant payments.
- Security and Efficiency: Binance Pay provides a secure and efficient way to conduct transactions without incurring high fees, supported by the robust security measures of Binance.
Conclusion.
The integration of INJ into Binance Pay is a landmark for enhancing the utility of cryptocurrencies in real-world transactions. By following these steps, users can now leverage INJ across Binance Pay’s vast network, bringing the Injective ecosystem closer to widespread adoption in everyday commerce.
