Binance is one of the most famous centralized exchanges (CEXs) in the world. It is also the largest cryptocurrency exchange in terms of the trading volume.
Due to the low trading and withdrawal fees and wide coverage of cryptocurrencies, Binance has over 30 million users in the year 2021. This is a more than twofold increase compared to the year 2018.
Each of these Binance users is allocated a unique Binance User ID and Pay ID.
Oftentimes, users of Binance thought that both the User ID and Pay ID are the same. But, both the IDs are different from each other.
In this article, you will learn about what is Binance User ID and Pay ID and the differences between them.
Binance User ID
Binance User ID (BUID) is a string of unique 9-digit numbers that is assigned to every Binance account. In case of any issues, a Binance user needs to provide his/ her User ID to customer support.
The Binance User ID is also needed for the internal transfers. I.e. To send and receive cryptocurrency from another Binance user, the User ID is required.
You can find your Binance User ID on the dashboard page in Binance Web or under the Profile Icon in Binance mobile application.
Since Binance User ID is a public address, it is safe to share the BUID.
Binance Pay ID
Pay ID in Binance is also a string of unique 9-digit numbers that are generated by Binance Pay. It is solely used to send and receive cryptocurrencies in the Binance ecosystem without any transaction fees.
You can find the Pay ID under the Finance tab on Binance Web or the Binance Pay page in the Binance mobile application.
Since Pay ID is a public address, it is safe to share it.
Binance User ID vs Binance Pay ID
- Both the Binance User ID and Pay ID are the unique 9-digit numbers that are allocated to each of the Binance users.
- However, the Binance User ID and Pay ID are not the same.
- Binance Users ID is a unique Binance account identifier that is used to send & receive crypto tokens among the other Binance users and for customer support inquiries.
- Pay ID in Binance is a unique Binance Pay account identifier that is used for internal transactions. I.e. Binance to Binance.
Binance User ID and Pay ID are not the same; both are different. They can’t be used interchangeably.
In case of any issue, you need to tell your Binance User ID to the support team. User ID is also used in Binance to Binance transfers.
Pay ID is primarily used in Binance to Binance transfers.