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How to Start Accepting Bitcoin and Crypto Payments for Your Business on Binance

According to a new poll published by payments giant Visa, more than 25% of small businesses plan to add cryptocurrencies as a form of payment this year.

73% of small businesses surveyed said accepting new forms of digital payments is fundamental to growth in 2022.

Binance Pay is one option for retailers and merchants looking to set up payments in cryptocurrency.

As more and more customers look to make payments in crypto, here are just 3 steps to make your service ready to accept payments from crypto holders:

Step 1: Set Up Your Binance Pay Wallet

  • Login to your Binance account, go to your profile, select [Pay] and then press [Open Binance Pay]
  • Create your unique Binance Pay nickname. Remember, you won’t be able to change it afterward, so choose wisely
  • Safeguard your account with a 6-digit PIN, and you’re all set

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SEE ALSO: 82% of Small Businesses Plan to Accept Digital Payments in 2022, with 25% Planning to Accept Bitcoin, Says VISA

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Step 2: Receive Crypto Payments in 2 Ways

  • Generate QR Code – You can tap the QR code scanner on your homepage to generate a unique QR code you can send to your customers. You can also set your QR code to receive your preferred cryptocurrency. We recommend USDT, BTC, BUSD, BNB, and ETH if you want to convert to cash with zero fees on Binance P2P
  • Binance Pay ID – Tap the QR code scanner on your homepage and then copy your Pay ID. You’ll send this pay ID to your customers

Step 3: Cashing Out via Binance P2P

Now that you’re receiving cryptocurrency payments, you’ll probably want to convert them to fiat currency, which the Binance app also allows you to do.

All you have to do is use the Binance P2P marketplace to place an ad for someone to buy your cryptocurrency.

You can proceed with the conversion once you find a willing buyer at your price point.

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RECOMMENDED READING: Substack, the Popular Online Publishing Subscription Service with Over 500K Subscribers, Now Accepting Bitcoin Payments

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