Accepting payments for services and goods via cryptocurrency is gaining global popularity. Ethereum and Bitcoin remain the most popular cryptocurrencies in the world, and there are different ways to accept payments in them.
What is a Binance coin, and how can you accept payments in this cryptocurrency on your website?
The most important thing they say about cryptocurrencies is that they are not subject to the supervision of banks, so you don't need a bank account to store or use them, but a cryptocurrency wallet. Due to this property of cryptocurrency, there are some limitations in dealing with it. For example, a person assumes all the risks associated with erroneous transfers of any amount.
All cryptocurrency transactions are based on blockchain technology, which is responsible for the secure storage of virtual currency. The blockchain stores information about payments, deposits, and everything.
Anyone in the cryptocurrency industry will tell you about the security of the technology behind cryptocurrency transactions. All transactions are securely stored in a blockchain, and money cannot be lost. What's more, you don't have to prove your identity to communicate, which means everything is anonymous. However, you need a key to make payments, which can be stolen by fraudsters. Then they can use your cryptocurrency for their own purposes.
So, cryptocurrency is convenient for businesses in any field. The money will not be lost, all actions with it will be saved, and users of your product will have a convenient way to interact with you.
Binance pay was developed for users of Binance coin, also known as BNB. This token is in the Binance exchange system. Binance pay service allows you to accept BNB payments and provides storage in any specified cryptocurrency.
In the first case, you need to send a generated code to the person who is supposed to transfer BNB to you. You can specify a specific amount of cryptocurrency. In order to transfer the virtual currency to you, the person will need to log in to the Binance app, read the QR code and verify the transfer with their signature.
In order to use Binance Pay, one needs to register with Binance, and the exchange requires meeting certain requirements.
Regardless of the platform on which your company website is set up, you can connect a cryptocurrency payment service or cryptocurrency gateway. This is a program that makes dealing with cryptocurrency secure. With MEEG API software, you will be able to accept the most popular currencies, including BNB.
With MEEG, you can integrate this program into the code of your website. Payment acceptance is implemented with a QR code located on your website, so there is no hassle for users either.