A guide on how to use the Binance Marketplace.
While cryptocurrencies have seen both incredible gains in their prices and use cases in recent years, a big hurdle in the way of mass adoption remains the inability or difficulty associated with keeping and spending them with the same ease as traditional fiat currencies, whether it’s cash, credit cards or online shopping.
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.
Enter Binance Marketplace, which the world’s largest exchange labels as the “Crypto Super App.”
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What Is Binance Marketplace?
Binance Marketplace positions itself as a one-stop shop that serves users’ crypto lifestyle needs by bringing their favorite businesses to them in the convenience of their Binance App. Users can simply log in to their Binance App, access Binance Marketplace and shop at a huge variety of supported merchants that accept Binance Pay-supported payments in crypto.
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).
For those of us who like to save every satoshi, wei, lamport or jager we can, Binance Pay charges zero fees to shop or send, receive or transfer crypto to friends or family for free. You can access your Binance Pay Wallet within your Binance App by simply dragging down the homepage.
Things to Do on Binance Marketplace
At present, Binance Marketplace lists over 50 merchants and mini-apps offering a wide range of products and services that cover anything from travel and hotel accommodation to biking gear, gift cards and beauty products. The platform is constantly updated with new merchants added each month, each offering something different for Binance users.
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
Binance Marketplace is integrated with Travala, the innovative crypto travel service that allows you to pay for travel services and accommodation with a variety of digital assets. You have a choice of thousands of great hotels around the world, ranging from budget accommodation to the most luxurious stays money can buy - or in this case, crypto!
Travala also allows users to purchase flights and book restaurants, fun activities and tourist attraction trips at their chosen travel destination.
Kiss&Fly is another flight website that you can access from within the Binance app by navigating to the Marketplace. It’s geared toward budget travelers and provides a large choice of airlines and flights at competitive prices. Other travel sites include Farvater, Travoofy, and Ariva World.
Lastly, you can also buy a convenient e-sim card from YESIM to use in over 95 destinations. The virtual sim card allows you to manage more than one network operator on your phone and provides you with hassle-free mobile internet when you travel.
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.
Go Shopping
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
Get early access to hot new projects being incubated on Binance Launchpad. Previous success stories include Polygon (Matic), Harmony One, Axie Infinity and The Sandbox, and you can keep track of all of them on the aggregated CoinMarketCap Binance Launchpad page.
2. Binance Liquid Swap
Become a liquidity provider or swap trader and earn rewards with Binance Liquid Swap.
3. Mobile Top-Up
Top up your phone credit and earn cashback rewards with the Mobile Top-Up feature within 15 minutes on average with the following 5 easy steps:
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
Not your keys, not your crypto? Binance DeFi Wallet is a decentralized Web3 self-custody wallet within the Binance App that allows you to bridge funds across various blockchains and use supported DApps. Here’s a visual guide on how to use it.
5. Binance NFT Marketplace
Binance NFT Marketplace is an exciting new marketplace that gives non-fungible token collectors access to a plethora of NFT collections on Ethereum and BNB Chain. With the slogan “Diversity, Security, and Reliability, All in one place” the marketplace allows users to find the latest drops, search by keyword, filter or leaderboard for hot new collections.
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
Do you love to make or watch live-streaming videos? The Binance Live platform is creating a new blockchain-focused educational live-streaming ecosystem where you can watch and learn from crypto gurus, industry leaders and share your investment journey with other participants at all times.
Parties that are interested in becoming live show hosts can apply to Binance here.
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
Current merchant stores include brands such as Alchemy Pay, SafePal, Bikeera, Bolt+ and Cybertino.
How to Become a Binance Marketplace Merchant
To become a merchant on Binance Marketplace, you can apply here. Interested parties have several options to choose from, including Direct Merchant, Sub Merchant and Channel Partner.
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.
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