Key Features of the New Payment System
- •Binance enables QR payments with crypto and no fees in Argentina.
- •Users can pay with more than 100 different cryptocurrencies, including USDT.
- •The system automatically converts cryptocurrencies to pesos at the current market exchange rate.
Binance's New Payment Functionality in Argentina
Binance has activated a new payment function in Argentina. This feature uses QR codes and permits users to pay for goods and services with cryptocurrencies. Transactions process directly from the Binance application. The system operates instantly, without fees, at merchants accepting QR-based payments.
This deployment represents a continued effort to position cryptocurrency as a practical financial instrument. Individuals can now apply digital assets for routine purchases. These purchases include items like coffee, food, and transportation. The process requires only scanning a code with the app.
How the QR Payment Process Works
The user then selects a cryptocurrency from their account and confirms the transaction. Settlement occurs within seconds. Behind the interface, Binance automatically converts the chosen cryptocurrency into Argentine pesos. This conversion uses the current market rate and is handled by a regulated local partner. Merchants receive payments in local currency, while users spend directly from their crypto balances.
Extensive Cryptocurrency Support and User Benefits
The function supports over one hundred cryptocurrencies, including USDT and BTC. Users can spend from their Spot, Funding, or Earn accounts. This flexibility allows for continuous investment strategies while enabling daily spending. Andrés Ondarra, Binance General Manager for the region, described the method as a leap toward true financial freedom. He highlighted the system’s speed, security, and absence of complications.
Leveraging Argentina's Existing QR Infrastructure
Argentina possesses a widely adopted QR payment infrastructure. Millions of residents already use this technology daily. Integrating cryptocurrency into this established habit encourages the regular use of digital assets.
Connecting Global Crypto to Local Commerce
The feature connects the global crypto economy with local commerce. It allows users to employ digital holdings for real-world purchases without prior conversion to cash. For merchants, it provides access to a consumer base that prefers transacting directly from digital wallets. The system is designed for simplicity, requiring only a funded Binance account to function.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.