A guide on how to use the Binance Marketplace.
Sure, some big retailers and online merchants now accept certain cryptocurrencies, but there are usually restrictions on buying and selling in crypto and that one all-encompassing killer app still remains missing.
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What Is Binance Marketplace?
For those who don’t know, Binance Pay is the exchange’s custom-built and contactless payment technology that enables you to make secure payments with 200+ crypto assets from and to anywhere in the world (sanctioned jurisdictions and persons being the exception of course).
Things to Do on Binance Marketplace
The marketplace is focused on making paying in crypto and earning rewards more convenient and fun than ever, It does this by enabling users to play mini-games with friends and family, win prizes, and access exclusive offers when they pay for hotel stays, rideshare services, shopping, subscriptions, courses and dining with Binance Pay.
Here are 4 cool things you can do with Binance Marketplace and Binance Pay.
Go Travel: Book A Flight, Hotel, Restaurant and Activities
Travala also allows users to purchase flights and book restaurants, fun activities and tourist attraction trips at their chosen travel destination.
Share a Ride
Access the Splyt ridesharing service to book a taxi ride within the Binance Marketplace app section. Splyt has a global network of 2 billion people and works with global ridesharing giants like Uber and Grab, integrating on-demand services directly into their platforms.
Binance Marketplace allows you to go shopping at a variety of merchants big and small. Moreover, you can use BUSD to purchase gift card vouchers from the world’s biggest e-commerce retailers such as Amazon, Walmart, Ebay, Best Buy and Target.
You can also directly shop at smaller region-specific online retailers like L'Exception, Futuelink, Cybertino, Amoreshop and Uminers.
Buy Mobile and Game Top-Ups
Binance Marketplace offers a variety of mobile, and game top services that you can pay for in BUSD. Affiliated companies include Alpha Mobile (mobile credit), Tokenstore (gaming) and BytePopUp (karaoke).
6 Cool Binance Marketplace To Try Out
Binance Marketplace also cleverly pulls users towards trying out Binance’s own plethora of innovative products, which many casual users may not be unfamiliar with.
1. Binance Launchpad
2. Binance Liquid Swap
3. Mobile Top-Up
1. Log in to your Binance App and go to [Pay]. Tap [Mobile Top up].
2. Select the country code and enter or select the mobile number you want to top up3. Verify that the automatically identified network provider is correct or the top-up transaction will fail.
4. Select the top-up amount
5. Select the wallet and currency you want to pay with and review carefully
6. Verify the transfer with your 2FA devices, Pay Pin, or Biometric Authentication and wait for email or SMS confirmation.
4. Binance DeFi Wallet
5. Binance NFT Marketplace
Based on the size of your bags, you can buy or sell everything from ultra-cheap NFTs to super-expensive digital collectibles from the world’s most prized collections such as CryptoPunks, Bored Ape Yacht Club (BAYC), MAYC, Azuki, Moonbirds, Otherdeed form Otherside and more, all from the comfort of the Binance App.
6. Binance Live
How to Access the Binance Marketplace
Accessing Binance Marketplace is super-easy — all you need is a Binance account, and you're good to go.
Then follow these easy steps:
- Log in to your Binance account
- Go to the Home tab.
- Drag your index finger down from the top to the bottom of the screen and it should flip over to "Marketplace" mode.
Merchants on Binance Marketplace
An important ingredient in the long-term success of Binance Marketplace will undoubtedly be its ability to draw in and retain both small and big merchants.
While the current offering of merchants are still relatively limited compared to its traditional retail counterparts, Binance is constantly adding new services, benefits and incentives to onboard new third-party service providers.
The advantages for merchants are certainly becoming more compelling as the crypto sector continues to grow, and the integrated Binance Pay feature unlocks some attractive benefits for them.
These benefits include:
- The ability to accept payments in over 50 cryptocurrencies and stablecoins, including Bitcoin and BNB
- Getting access as an in-app Binance Mini-Program to a crypto-native audience of millions of users around the world
- Using the Binance Pay Payment APIs and App SDK to build a crypto-friendly business without giving up control over areas such as the checkout experience. Merchants can also use Binance’s smooth hosted checkout page
- Creating and sharing quick payment links for customers without the need for any coding
- Using QR codes to auto-fill customer order details, thereby saving time and processing transactions faster
- Increasing profitability thanks to super-low fees
How to Become a Binance Marketplace Merchant
Merchants can also create a trial account to explore Binance Pay first before applying to become a merchant. The trial merchant account includes capabilities to click-through the merchant dashboard, test Binance Pay merchant integrations with merchant APIs, and 30 days of trial access. Direct conversion into a Binance Pay merchant can be done by signing in with the same Binance account used for the trial.
Binance Marketplace Q&A
1. What is Binance Marketplace?
Binance Marketplace is a one-stop-shop for crypto users to shop at various supported merchants that accept Binance Pay-supported payments in crypto.
2. What is Binance Pay?
Binance Pay is a contactless payment technology that enables secure payments with 200+ crypto assets from and to anywhere in the world, without charging any fees.
3. What can you do on Binance Marketplace?
Binance users can shop at over 50 merchants and mini-apps offering a wide range of products and services, play mini-games with friends and family, win prizes, and access exclusive offers.
4. What are some cool Binance Marketplace products to try out?
Binance users can buy, sell, trade, swap and stake digital assets on Binance Launchpad, Binance Liquid Swap, Mobile Top-Up, Binance DeFi Wallet, Binance NFT Marketplace and Binance Live.
5. How can someone become a Binance Marketplace merchant?
Interested parties can apply to become a Direct Merchant, Sub Merchant, or Channel Partner through the Binance Marketplace website. They can also create a trial account to explore Binance Pay first before applying to become a merchant.