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Binance red packets are a feature offered through Binance Pay that allows you to send cryptocurrency gifts to friends. They function similarly to traditional red envelopes used during holidays in some cultures.
Here's a breakdown of Binance red packets:
Sending Red Packets: You can create a red packet with a fixed or random amount of cryptocurrency to distribute among your friends. You'll share a code with them, which they can use to claim the crypto from the red packet.
Claiming Red Packets: Friends can receive your red packet by entering the code you provide within the Binance app or website. Once claimed, the cryptocurrency will be credited to their Funding Wallet on Binance.
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