Best payment option in Binance? | Bitcointalksearch.org

carlfebz2

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Quote from: btcb3g1nn3r on November 21, 2021, 04:26:40 AM

Hi,
It is time to withdraw some money from my Binance account.
I have to pay for a service some guy so he gave me an USDT wallet address.

What's the best method?
Withdaw to that USDT wallet address?
Via P2P in Binance?
Via Binance Pay?

Thank you

Via P2P.. You wouldnt really need to pay up some fees but of course you would be needing to transfer those USDT on Funding wallet and you could sent
out but it would really be needing some Binance account too but if you are sending it to non BInance USDT address then you would need to withdraw it directly and why wont mind that much yet fees is just too small for you to mind off.

JeromeTash

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Quote from: btcb3g1nn3r on November 21, 2021, 04:26:40 AM

Via P2P in Binance?

P2p is basically an option for cashing out or cashing in from crypto to fiat or fiat to crypto respectively, so I don't see it as a payment method, especially if you are planning to pay someone for the services they have rendered.

It also means that the other party has to have a fully verified account with Binance instead of just a USDT address.

afroza83

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Mr.Scott

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Quote from: joniboini on November 24, 2021, 06:09:06 AM

Quote from: btcb3g1nn3r on November 21, 2021, 04:54:17 AM

then the best method is Withdraw (with TRC20 network of course).

Where did you get this conclusion from? Most people suggest using TRC because you mention USDT above, where TRC is one of the cheapest chain since if you pay with ETH you'll spend at least more than $20 just for fee. BNB or smart chain is also available, so if fee is your only deciding factor, you should not lock yourself with Tron. Not to mention Tron get more expensive recently (but not insanely expensive) after the update.

There are couple of popular network chain upheld by Binance. It's no more challenges to pay anybody, fundamental concern what chain is suite to you and what strategy you might get a kick out of the chance to continue. Stick with just single choice just plain dumb idea, we should think in greater way.

joniboini

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Quote from: btcb3g1nn3r on November 21, 2021, 04:54:17 AM

then the best method is Withdraw (with TRC20 network of course).

Where did you get this conclusion from? Most people suggest using TRC because you mention USDT above, where TRC is one of the cheapest chain since if you pay with ETH you'll spend at least more than $20 just for fee. BNB or smart chain is also available, so if fee is your only deciding factor, you should not lock yourself with Tron. Not to mention Tron get more expensive recently (but not insanely expensive) after the update.

WalkerIVIV

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Quote from: btcb3g1nn3r on November 21, 2021, 04:26:40 AM

Hi,
It is time to withdraw some money from my Binance account.
I have to pay for a service some guy so he gave me an USDT wallet address.

Pay them all with USDT SOL/TRON/POLYGON/BEP

Quote from: btcb3g1nn3r on November 21, 2021, 04:26:40 AM

What's the best method?

You can pay them directly from your exchange site's account.

Quote from: btcb3g1nn3r on November 21, 2021, 04:26:40 AM

Withdaw to that USDT wallet address?

Why do you need to withdraw your USDT if you can do that directly from your exchange site's account? I meant you didn't even need to fill your personal address with gas fees. It consumes only $1 for a single transaction on binance.

noorman0

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Quote from: btcb3g1nn3r on November 21, 2021, 04:54:17 AM

So, if the person has Binance account then the best method is "Binance Pay", if he's outside of Binance, then the best method is Withdraw (with TRC20 network of course).

Thank you guys, you're great like always

You're jumping to conclusions too quickly. If you mean the person has a formal Binance account (binance.com), that includes internal transfers. In this case you will still have the option of whether you want it free of charge (your transactions are only recorded in the withdrawal history) or for a fee (your transactions are also recorded on the blockchain). Read the tutorial here

If you want that proof of payment can be verified by anyone including you and that person, then just select "Transfer through blockchain".

dimonstration

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Dimon69

Quote from: btcb3g1nn3r on November 21, 2021, 04:26:40 AM

Hi,
It is time to withdraw some money from my Binance account.
I have to pay for a service some guy so he gave me an USDT wallet address.

What's the best method?
Withdaw to that USDT wallet address?
Via P2P in Binance?
Via Binance Pay?

Thank you

Just to make is the guy using a Binance wallet address to received that USDT or not? Because if you are both using exchange wallet, You don't have to worry for transaction fee because Binance will refund the fee to you once you the transaction is complete. They are not charging fee for all internal transaction since its off-chain and doesn't cost a mining fee for them. Ask the guy to used a Binance address for receiving USDT if you are dealing with him frequently. It will save you both fee and time on waiting the transaction to process and cashout it to fiat.

martina14

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Quote from: btcb3g1nn3r on November 21, 2021, 04:26:40 AM

Hi,
It is time to withdraw some money from my Binance account.
I have to pay for a service some guy so he gave me an USDT wallet address.

What's the best method?
Withdaw to that USDT wallet address?
Via P2P in Binance?
Via Binance Pay?

Thank you

In my case as one of the user in Binance platform, p2p is the one most good for now due to I got a cheap transaction fee every time
I want to convert my earnings in crypto into fiat via P2p, and I am very grateful that they have P2p options this is actually very much useful
to anyone who want to concert their altcoins into a real money.

Crypdon

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Check with the other guy for which chain he wants to use. TRC20 (Tron network) is the preferred option, but he might be a masochist and want it on the Ethereum network. Just click on your Wallet in Binance and choose USDT, then click on Withdraw. Don't worry about Binance pay or P2P, that is for fiat transfers

btcb3g1nn3r

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So, if the person has Binance account then the best method is "Binance Pay", if he's outside of Binance, then the best method is Withdraw (with TRC20 network of course).

Thank you guys, you're great like always

Oshosondy

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Quote from: ?? on ??

First of all, what do you mean by "best method"? If you're looking for easiest method, just choose "Withdraw to USDT address" where the address is given by that service guy. Just be careful with USDT chain/network selection.

Just that the omini later and the ERC20 fee is very high, when it can be done with the TRC20 using low fee, that will be the best option. I do not think BSC USDT is actually tether, but also having low fee, even lower than TRC20 USDT on binance or the same amount fee, but lower the last time I checked but only little difference.

So OP if the person prefer BSC USDT, the fee is also low like TRC20 USDT.

Oshosondy

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You want to pay in USDT? Then use USDT TRC20. Its address start from T. The fee is 1 USDT.

Why P2P, not for this kind of purpose.

If the person is using binance, you can send the USDT to the person freely, only what is needed is the person's email or Pay ID, but you can also use phone number if the person decided to give you. You will see that in funding wallet 'pay'.

btcb3g1nn3r

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Merit: 32

Hi,
It is time to withdraw some money from my Binance account.
I have to pay for a service some guy so he gave me an USDT wallet address.

What's the best method?
Withdaw to that USDT wallet address?
Via P2P in Binance?
Via Binance Pay?

Thank you

Topic: Best payment option in Binance? (Read 130 times)