The largest crypto exchange, Binance recently announced the adoption of a crypto transfer feature on the Binance Gift Card. Accordingly, the new function emerges in the known gift card mini software on the Binance app. With this new feature, users become eligible to transfer crypto funds immediately via zero fees to either Binance or Non-Binance Users. This, however, becomes obtainable via the usage of gift cards. Binance made this announcement in a blog post conveyed on their official website on Monday.
Furthermore, the crypto exchange maintained that the new function enables non-users of crypto to obtain crypto funds via a seamless redemption procedure on Binance. This, however, becomes possible only if the non-binance users register for a Binance account and successfully complete KYC.
With the new feature, users become eligible to also relay crypto funds in any of the over 270 cryptocurrencies, possessing the support of the Binance Gift Card using email or text. In addition, users in view of the development can improvise a customized message before conveying the gift card.
According to the blog post, the procedures incurred in relaying cryptocurrencies through Gift Card remain seamless. The crypto exchange asks users to first proceed to the profile section on the Binance app and consequently click on the Gift card icon before tapping the Transfer Crypto function. More so, the crypto exchange enlightened users on the processes of transferring funds using either mail or texts.
Using mail to transfer crypto funds on Binance Gift Card
According to the exchange, users who intend to transfer crypto funds using mail must after using the transfer crypto function select “transfer by email”. Afterward, users proceed to determine the type of crypto and the intended amount. With this function, it becomes possible for users to either insert the mail of the receiver directly or select from the previously transferred list.
In addition, users are advised to preview the intended transaction before using the confirmation function to visualize how the receiver will receive the transfer via email. Users, then tap on the transfer function to relay the crypto funds. As a consequence of this, the Binance Gift card app automatically requests users to verify the transaction with 2FA devices. The transferred crypto funds get deducted from the user’s funding wallet with immediate effect. After the completion of the task, users receive a “transfer successful” notification.
Using text to transfer crypto funds
For text transfer, users select or use the transfer by text function on the Binance Gift Card. Afterward, the form of crypto and the intended amount becomes selected. However, the crypto exchange advised users to use the check history function before confirming the transfer. This according to Binance aids the viewing of the previous Gift card transactions. Users, then tap on the transfer function to relay the crypto funds.
As a consequence of this, the Binance Gift card app automatically requests users to verify the transaction with 2FA devices. The transferred crypto funds become deducted from the user’s funding wallet with immediate effect. Afterward, users copy the notification and relay it to the receiver by using the copy card only function.