Key points
This is a true story of how cryptocurrency with Binance Pay helped save lives by bypassing traditional banking delays and proving its practical value beyond investment.
Binance Pay enables instant transactions without gas fees and offers a decisive advantage over traditional payment systems, which can be critical in emergency situations.
Skeptical at first, two families in France and Algeria embraced cryptocurrency after experiencing its benefits during the crisis and seeing it as a tool for financial freedom.
Imed Idrissi (fictitious name) likes to use Binance Pay. A professional P2P merchant from Algeria, he recalls that Binance Pay was the first crypto product he ever used.
Years ago, a friend told him about cryptocurrency and Binance and asked him to do a test by sending one dollar worth of cryptocurrency. He transferred the agreed amount, and the friend immediately returned it to him. Imed was impressed with the instant transfer and zero commission of the platform. This is how his history of using Binance Pay began.
"Binance Pay helped me understand the difference between using cryptocurrency and local fiat currencies. There are almost no costs when using cryptocurrencies, but with fiat they can be significant," Imed explained.
"I'm not just talking about monetary costs. I'm talking about costs that can't be quantified, like someone's health or someone's life."
What really opened his eyes to the revolutionary power of cryptocurrency transactions and solidified his loyalty to Binance Pay was a pivotal life experience.
This was when Binance Pay became a lifesaver for his family and helped save the life of a dear family friend's child.
A life-changing vacation in France
Imed's parents, Mr. and Mrs. Idrissi, who live in Algeria, are of the older generation and not exactly tech-savvy. His father is the owner of a transport company, and his mother is a former civil servant. By 2022, they were both staunch "fiat loyalists" and did not understand why Imed spent most of his time on P2P platforms exchanging cryptocurrencies.
However, in the summer of 2022, their views changed. The Idrissi couple went on vacation to France, as they do every year, to visit family and friends. As usual, they visited Alain, an old friend of Imed's father, with whom he had an almost brotherly relationship.
Around that time, tragedy struck Alain's family. His young son was in a near-fatal car accident and needed emergency surgery. In France, most people receive health care from the government, but some types of health care may require more expensive procedures. French residents often insure themselves against unforeseen expenses and supplement their basic package with private insurance.
Unfortunately, none of Alain's family had such additional private insurance, and the necessary surgery was prohibitively expensive for their combined income. However, the family had no other choice, as the life of Alain's son hung in the balance.
Imed's father decided to help pay for the operation and transfer about 10,000 euros from his bank in Algeria.
Bank transfer problem
According to the rules of the time, transfers from Algerian banks to Europe were complicated by strict conditions, long forms to fill out and long processing times. When the Idrissis asked about transferring €10,000 to Alain from their Algerian bank, they were told that the process could take up to a month to go through all the checks and clearances, as Algeria is not part of the SEPA area.
Obviously, one month was unacceptable for both families, given the serious condition of Alain's son. The hospital would have been forced to accept a late payment, the case would have dragged on too long, and they all wondered if there might be a faster way to settle things on the spot.
Binance Pay comes to the rescue
Desperate for ways to speed up the transfer, Mr. Idrissi called Imed in a panic. Imed was ready to provide the answer: cryptocurrency and Binance Pay.
During the same phone call, Imed explained to his father the steps required to open a Binance Pay account. After Mr. Idrissi passed identity verification on Binance, the account was created the same day. Imed immediately transferred the required amount in USDT stablecoins.
Imed then walked his parents through the process of exchanging stablecoins for much-needed Euros, and then withdrawing fiat with the help of fintech service providers.
All's well that ends well
The Idrissis went to the hospital and helped pay the bills quickly. Meanwhile, Alain's son received the necessary care to survive. In a few days, he went on the mend, and nothing threatened his life. Alain burst into tears of gratitude.
Both families now really understand why cryptocurrency should not be seen as just a passing fad or simply dismissed as a risky investment. Digital assets are a powerful tool that is revolutionizing traditional finance and adding real value in many ways. Platforms like Binance Pay have increased financial freedom by helping to move value across borders more efficiently.
"For me, Binance Pay means freedom," Imed said seriously. "If my money is on Binance, I think it's like having my own bank. I can use it anytime, anywhere. With Binance Pay, transactions are fast and without gas fees, unlike traditional payments that include fees and sometimes not on weekends. With wire transfers, large transactions also often cause queries that further delay the transfer process."
Both families now store cryptocurrency in their Binance accounts and use it regularly when traveling through Binance Pay.
This story was submitted by a Binance Pay user. It is based on personal experience, does not reflect the views of Binance, and does not constitute financial or investment advice. This content is for general information only and individual experiences with Binance Pay may vary. Please do your own research and consult with a financial professional before making any decisions related to cryptocurrency or digital payments.
Binance Pay is a contactless, cross-border and secure cryptocurrency payment technology developed by the Binance exchange. It allows users to pay, send and receive payments in over 300 cryptocurrencies from friends and family around the world. Binance Pay works with thousands of merchants around the world to allow users to buy with over 80 cryptocurrency tokens worldwide. Popular tokens supported: USDT, USDC, BTC, BNB, ETH, SOL, ADA, XRP, DOGE, LTC, SHIB, PEPE. Learn how to use Binance Pay here.
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