ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

Crypto Exchange Kraken to Explore Stock Trading: Bloomberg

September 27, 2023

SEC pushes deadlines for ARK 21Shares, VanEck spot Ether ETF applications

September 27, 2023

SEC’s Gensler Throws More Crypto Punches in Congressional Hearing

September 27, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Crypto Exchange Kraken to Explore Stock Trading: Bloomberg

    September 27, 2023

    SEC pushes deadlines for ARK 21Shares, VanEck spot Ether ETF applications

    September 27, 2023

    SEC’s Gensler Throws More Crypto Punches in Congressional Hearing

    September 27, 2023

    Bitcoin Price Prediction: BTC Dips 0.5% – What’s the Next Move for BTC?

    September 27, 2023

    Bitcoin price holds steady as S&P 500 plunges to 110-day low

    September 27, 2023

    Texas is home to nearly 30% of all Bitcoin hash rate — Foundry

    September 27, 2023

    Everything you need to know about CommEx, so far

    September 27, 2023

    Coinbase CEO slams Chase UK for ‘totally inappropriate’ crypto move

    September 27, 2023

    Ethereum OFAC compliance dips to 45% post-Merge upgrade

    September 27, 2023

    Circle launches native euro stablecoin on Stellar

    September 26, 2023

    Tim Draper, Hall of Flame

    September 26, 2023

    MetaMask ‘glitch’ caused opBNB recommended fees to be too high: Report

    September 25, 2023

    Six Ethereum-Based Altcoins and Two Low-Cap Crypto Assets Flashing Bullish On-Chain Signal: Santiment

    September 27, 2023

    Ethereum-Based Altcoin Quietly Pulls Off 242% Rally This Month Amid Support from Crypto Exchange Gate.io

    September 27, 2023

    North Korean Hackers Lazarus Group Holds Over $46,000,000 in Bitcoin, Ethereum and Other Crypto: On-Chain Data

    September 27, 2023

    No One’s Prepared for Massive Cardano, XRP and Binance Coin Correction, Says Crypto Analyst Nicholas Merten

    September 27, 2023

    Crypto Exchange Kraken to Explore Stock Trading: Bloomberg

    September 27, 2023

    SEC pushes deadlines for ARK 21Shares, VanEck spot Ether ETF applications

    September 27, 2023

    SEC’s Gensler Throws More Crypto Punches in Congressional Hearing

    September 27, 2023

    Bitcoin Price Prediction: BTC Dips 0.5% – What’s the Next Move for BTC?

    September 27, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    Bitcoin Might Be About To Drop! #bitcoin #crypto #shorts

    September 27, 2023

    Congress Demands Bitcoin ETF NOW! (Gary Gensler Accusations)

    September 27, 2023

    What Is The FED Planning? Jerome Powell Tells It ALL!!

    September 26, 2023

    BitBoy Crypto: Confronting The Man Accused of Stealing EVERYTHING | TJ Shedd

    September 25, 2023

    Bitcoin Has A New Super Whale! (2024 Bringing Explosive Gains)

    September 25, 2023
  • bitcoinBitcoin(BTC)
    $0.000.510% 24H
    BITCOIN
    24H : 0.510%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.450% 24H
    ETHEREUM
    24H : 0.450%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.01% 24H
    TETHER
    24H : -0.01%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-0.01% 24H
    BNB
    24H : -0.01%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-0.16% 24H
    XRP
    24H : -0.16%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSDC(USDC)
    $0.000.060% 24H
    USDC
    24H : 0.060%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.000.410% 24H
    LIDO STAKED ETHER
    24H : 0.410%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.000.050% 24H
    CARDANO
    24H : 0.050%
    Volume : $0.00
    Marketcap : $0.00
  • dogecoinDogecoin(DOGE)
    $0.00-0.04% 24H
    DOGECOIN
    24H : -0.04%
    Volume : $0.00
    Marketcap : $0.00
  • solanaSolana(SOL)
    $0.000.050% 24H
    SOLANA
    24H : 0.050%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.000.510% 24H
    BITCOIN
    24H : 0.510%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.450% 24H
    ETHEREUM
    24H : 0.450%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.01% 24H
    TETHER
    24H : -0.01%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-0.01% 24H
    BNB
    24H : -0.01%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-0.16% 24H
    XRP
    24H : -0.16%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSDC(USDC)
    $0.000.060% 24H
    USDC
    24H : 0.060%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.000.410% 24H
    LIDO STAKED ETHER
    24H : 0.410%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.000.050% 24H
    CARDANO
    24H : 0.050%
    Volume : $0.00
    Marketcap : $0.00
  • dogecoinDogecoin(DOGE)
    $0.00-0.04% 24H
    DOGECOIN
    24H : -0.04%
    Volume : $0.00
    Marketcap : $0.00
  • solanaSolana(SOL)
    $0.000.050% 24H
    SOLANA
    24H : 0.050%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » Coinbase Pay and Binance Pay: What Are These Solutions & How Do They Differ
DeFi

Coinbase Pay and Binance Pay: What Are These Solutions & How Do They Differ

Crypto NewsBy Crypto NewsJuly 2, 20220 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Major US-based crypto exchange Coinbase is taking a swing at both traditional payment companies and crypto-native competitors with the introduction of Coinbase Pay. The new solution, however, differs from existing payments solutions from competitors like Binance, for example, as the former is a way to fund Coinbase’s browser-based wallet with fiat, while the latter is a way for users to fund accounts with fiat and send crypto to others for free.

Let’s take a look at what these two solutions are exactly. 

According to an announcement from Coinbase earlier this week, its new payments service is a browser extension for the Chrome web browser meant to make it “easy and intuitive for anyone” to participate in decentralized finance (DeFi) or to trade non-fungible tokens (NFTs).

Taking part in both of those areas normally requires users to fund and use non-custodial browser-based wallets such as MetaMask — which Coinbase described as “a cumbersome process that involves multiple steps” and has a high potential for user error.

To solve this problem, Coinbase offered its own payments solution that it says makes it easier to fund its existing browser wallet, the Coinbase Wallet, with either fiat or crypto from other wallets.

This differs from other wallets such as MetaMask, which cannot be funded directly with fiat currency from a debit or credit card.

The integration of the payment system into Coinbase’s wallet thus removes the need to switch between different apps and websites in order to fund the wallet, making the process “faster, easier, and more secure than ever before,” according to the exchange.

Meanwhile, Binance Pay, the payments system rolled out by rival crypto exchange Binance last year, is based on the exchange’s mobile app rather than any browser extension, and is mainly designed to make payments between Binance users easier.

Notably, Binance Pay only works between users who have a Binance account with completed identity verification, and is in this sense not a traditional crypto payments system that can transfer funds to anyone.

The move by Binance followed a similar move by the competing trading platform Bitfinex one month earlier.

Ahead of the official roll-out last year, Binance said in its announcement that travel booking site Travala, which is owned by the exchange, had become the first merchant to integrate the new payments solution. Since then, other merchants such as CryptoRefills and Coinsbee have been added through the Binance Marketplace portal.

In order to send a payment to someone via Binance Pay, a user needs to either scan the recipient’s QR code or paste their “Pay ID” in the form of a username. This differs from Coinbase Wallet that Coinbase Pay works with, which still requires users to know the recipient’s full wallet address in order to make a payment.

Further, Binance calls its payment solution “instantaneous,” although it admitted that “compliance requirements” meant that funds would not be usable for 24 hours after payments have been received. Payments are also processed without any fees from Binance’s side.

Worth noting is that transactions made via Binance Pay to other users are not recorded on-chain, which is the reason why the payments can be made instantly and free of fees.

For now, Binance Pay supports more than 40 cryptoassets. The payments solution does not support direct fiat payments, but fiat can be used to top up a user’s Binance Pay balance by going through Binance’s standard options for funding an account.

____

 
– Binance, FTX Expand To Arab Gulf States With New Licenses
– Binance’s Crypto Payments

– Coinbase Launches Subscription-Based ‘Zero-Fee’ Trading in Beta
– Block, Coinbase Release Positive Q4 Results Amid Growing Market Uncertainty

– Crypto Exchanges Facing ‘Fork in the Road’ Over Russia Sanctions – London Stock Exchange Group CEO
– Two Crypto Lawsuits to Watch: Meta and Coinbase Enter New Legal Battles

Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Uniswap Foundation targets $62M in additional funding

September 27, 2023

How AI is changing crypto: Hype vs. reality

September 27, 2023

Curve Finance founder cuts debt to $42.7M, settles entire Aave loan

September 27, 2023

Mixin Network offers $20M bug bounty to hackers in $200M hack

September 27, 2023

Immunefi launches on-chain bug bounties through ‘Vaults’ system

September 26, 2023

Vitalik Buterin’s Privacy Pool idea is interesting, but it’s just the start

September 25, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Crypto Exchange Kraken to Explore Stock Trading: Bloomberg

September 27, 2023

SEC pushes deadlines for ARK 21Shares, VanEck spot Ether ETF applications

September 27, 2023

SEC’s Gensler Throws More Crypto Punches in Congressional Hearing

September 27, 2023
# Name Price Changes 24h Market CAPVolume Supply
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.