Here is a list of all recommended online casinos that accept Binance Pay as a payment method. Please note that while a casino may accept a deposit in Binance Pay, it doesn't mean that you will be able to withdraw using that same banking method.
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After dominating the cryptocurrency exchange world for a few years, Binance expanded its operations in 2021 by introducing a sleek and convenient way for users to complete everyday payments with crypto. It's called Binance Pay and has since attracted over 12 million users and $77 billion in annual transactions.
Seeing as the crypto and online gaming scenes have become close in recent times, it's no surprise that Binance Pay has also emerged as a popular deposit and withdrawal option in various online casinos. Its ease of use, reputation, and heightened security features have made it a top choice for players who are familiar with crypto.
In simple terms, Binance Pay is like an e-wallet for crypto tokens. This doesn't mean you can't use it for fiat transactions, as the platform allows you to deposit in fiat or even exchange your tokens. However, it's primarily a crypto transfer platform that supports over 300 tokens and is available in over 150 countries.
Here's why players are choosing it over traditional payment options and why you should consider making the switch.
You can fund your online casino gameplay in minutes using Binance Pay, but you need an account first. To create a Binance Pay account, you must have a fully registered and verified Binance profile. On Binance, find the Pay option on your wallet page, and you'll be given a unique PayID and password. Once that's all set, follow these simple steps to deposit at any online casino.
Certain casinos do not support Binance Pay as a traditional withdrawal option. However, you can still withdraw directly to your Binance Pay account using your preferred crypto token. Here's how you'd go about it.
There's no limit to how much crypto you can receive daily through your Binance Pay account. However, the amount you can send out is based on your VIP level.
For Regular users, $8,000,000 is the daily max, which exceeds the limit at pretty much any online casino. So, you don't even need to climb the ladder to enjoy large deposits with Binance Pay, but for what it's worth, users in VIP 9, the highest level, can send out up to $96,000,000 daily. These limits apply to off-chain transactions, that is, payments between Binance Pay accounts.
For on-chain transactions completed on the blockchain, the daily limit when transferring to any DeFi wallet is $100,000.
As for fees, transferring between Binance Pay accounts is free up to a certain amount. Once the $140,000 threshold is crossed, a $1 fee per transaction is added. Binance Pay charges a variable service fee for on-chain crypto transfers based on the blockchain network you use.
For BNB Smart Chain (BEP-20) & OPBNB, it's 50% of Binance's normal withdrawal fee, which is $0.5. For all other networks (e.g., Ethereum, Bitcoin, Polygon), it is 80% of Binance's withdrawal fee. The standard fee for ETH is $2, while that of Bitcoin is $1.5, but the exact amount will be calculated based on your real-time transaction details.
The platform fees using any network cannot exceed $10.
Here are some benefits and drawbacks of using Binance Pay to complete payments at online casinos.
Pros:
Cons:
Binance Pay is one of the best payment options for crypto casino players who enjoy flexible transaction limits with low fees. You can deposit up to $100,000 on-chain and up to $8,000,000 off-chain, which is higher than what you'd get with popular casino payment methods like Payz or Neteller with its $50,000 daily cap.
Payz fees can go as high as 10% for users in Classic, while Neteller charges a flat $10 fee for bank transfers. Binance Pay comes with network and platform fees for on-chain transactions, but they rarely exceed $10. Even better? You can transfer over $150,000 to another Binance Pay account for just $1.
Neteller, Payz, and other e-wallet options might be convenient, especially for those unfamiliar with cryptocurrency. Traditional crypto transfers also offer more privacy, and there are no platform fees for on-chain transfers. However, Binance Pay provides added security, higher transaction limits, and support for more crypto tokens.