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My first experience with Binance Pay in real life

Binance

Cryptocoins Exchanges / Binance 121 Views

I bought two drinks with Binance Pay yesterday. Here's my experience: I had added earlier in the day 40 GBP and was determined to use them. I ordered two beers and asked them to pay with Binance Pay. They brought the "card" machine with a nice Binance sticker on it (yay!), they entered the amount to pay and a QR code showed on the screen for me to scan.

When I managed to scan the QR code with my Binance app I was asked for my 2FA code *and* another 6 digits code sent by email. Phone signal wasn't great, so it took a minute until I got it. So after these two 2FA interactions we were about 3 minutes in in the transaction process.

Once past the authentication I couldn't see my GBP as an option to pay with, and only other tokens were listed - I understand no fiat is allowed as payment. I then went ahead and used ETH, which I think were converted to BUSD (or perhaps it just shows the value in BUSD?) to finally make the payment in EUR.

Then I was a bit concerned about the fees, due to all the currencies exchanged in the transaction but I couldn't see any transaction history anywhere on my Spot Wallet, from which the ETH come from. Only in Funding -> Pay I could see the transaction (no fees mentioned), so without meticulous analysis I can't tell the real cost of this transaction.

Needless to say that, as excited as I was, the rest of the night I used my regular contactless payments, which don't need data and take a fraction of a second to be processed.

Perhaps there are hacks to speed it up and understand the actual overall cost, but as a first impression it isn't great at the moment.

submitted by /u/BrushedHairWitch
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