Sending some BTC to a friend? On-chain transfers cost several dollars in fees. If the other person also uses Binance, Binance Pay can save you that money.
Using Binance Pay requires both parties to have Binance registration accounts. Find Binance Pay in the Binance APP to start transferring.
Is Binance Pay Transfer Really Free?
Yes, completely free. Transferring between Binance users through Binance Pay incurs zero fees. Whether it's BTC, ETH, USDT, or any other token — zero fees.
This differs from on-chain transfers, which require miner fees (gas fees). Binance Pay is an internal Binance transfer that doesn't go through the blockchain, so no miner fees are generated.
How to Transfer with Binance Pay
Method 1: Via ID/Phone/Email
- Open the Binance APP
- Enter Binance Pay
- Tap "Send"
- Enter the recipient's Binance Pay ID, phone number, or email
- Select the token and amount
- Add a note (optional)
- Confirm send
Method 2: QR Code Transfer
- Have the recipient open Binance Pay's "Receive" page
- They generate a receiving QR code
- You scan the QR code
- Confirm amount and token
- Send
Method 3: Generate a Transfer Link
- In Binance Pay, select "Send"
- Choose token and amount
- Generate a red packet/transfer link
- Share the link with your friend
- They click the link to claim
How Fast Is It?
Instant. As an internal transfer, no blockchain confirmation is needed — the recipient's account receives it immediately. Much faster than on-chain transfers.
Are There Limits?
Binance Pay transfer limits depend on your KYC level and region. There are typically per-transaction and daily limits. Check the transfer page for specific limits.
For users with advanced verification, limits are usually generous enough for everyday use.
Supported Tokens
Binance Pay supports the vast majority of tokens on the Binance platform, including but not limited to:
- BTC, ETH, BNB
- USDT, USDC
- SOL, ADA, DOT
- Other major and select smaller tokens
How Does It Compare to On-Chain Withdrawal?
| Feature | Binance Pay | On-Chain Withdrawal |
|---|---|---|
| Fees | Free | Requires miner fees |
| Speed | Instant | Minutes to hours |
| Recipient | Must be a Binance user | Any wallet address |
| Blockchain record | None (internal record) | On-chain record |
| Privacy | Queryable internally | Publicly visible on-chain |
Simply put: if the other person also uses Binance, always prefer Binance Pay. If they use another wallet or exchange, on-chain withdrawal is the only option.
Red Packet Feature
Binance Pay has a popular red packet feature:
- Create a crypto red packet
- Set the amount and number of recipients
- Supports equal or random distribution
- Generate a link to share in group chats
- Friends click the link to claim
This is great for livening up group conversations or sending small gifts.
Safety Reminders
- Verify the recipient: Double-check the recipient's information before sending — Binance Pay transfers are irreversible
- Don't transfer to strangers: Anyone claiming to be "support" asking for Binance Pay transfers is a scammer
- Protect your account: Binance Pay deducts directly from your account balance — guard your login credentials
- Don't scan unknown QR codes: Only scan codes from people you trust
Where Do Received Funds Go?
Crypto received through Binance Pay goes to your "Funding Wallet." You can check the balance there or transfer to your spot account for trading.
FAQ
Friend says they didn't receive it? Check their Funding Wallet (not spot account) — Binance Pay deposits default to the Funding Wallet.
Can you transfer internationally? Yes — as long as both parties have Binance accounts, there are no geographic restrictions.
Is there a transfer history? Yes — view all transfer history in Binance Pay's transaction records.
Binance Pay is the most convenient and cost-effective way for Binance users to transfer crypto to each other. If you and your friends both use Binance, there's no reason not to use it.