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binance pay security limitations

Binance

Cryptocoins Exchanges / Binance 153 Views

it seems that once binance pay has been enabled in your account, there is no way to disable it, and no way to change the daily transfer limit (eg USD 50k/day). i checked with binance customer support and they confirmed this.

given that binance pay allows transfers via email, phone number or id, it is one way to by pass the whitelist address security (if you have it enabled), and it also does not have 2FA security as protection. all it has is a 6 digit pin as security.

if the above is correct, then i would be very concerned - and would discourage anyone fm enabling binance pay until this is addressed. any thoughts?

submitted by /u/milotrader
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