Main takeaways
- This is a true story of how cryptocurrency, through Binance Pay, helped save a life by bypassing traditional banking delays, proving its practical value beyond investment.
- Binance Pay enables instant, gas-fee-free transactions, offering a crucial advantage over traditional payment systems, which can be critical in urgent situations.
- Initially skeptical, two families across France and Algeria embraced cryptocurrency after experiencing its benefits in a crisis, coming to see it as a tool for financial freedom.
Imed Idrissi (not his real last name) loves using Binance Pay, a professional P2P (peer-to-peer) merchant from Algeria. He recalls that Binance Pay was the first crypto product he had ever used.
Years ago, a friend told him about cryptocurrency and Binance and asked him to do a test sending one dollar worth of cryptocurrency. He sent over the agreed amount, and the friend returned it to him on the spot.
Imed was impressed by the instant transfer and zero fees the platform charged. That was how his user story with Binance Pay began.
Imed said,
“Binance Pay helped me understand the distinction between using crypto and local fiat currencies. While costs are nearly nonexistent when using cryptocurrencies, they can be significant with fiat.
“And I am not just talking about monetary cost. I am talking about costs that cannot be quantified, such as someone’s health and someone’s life.”
What had really opened his eyes to the revolutionary power of crypto transactions and cemented his loyalty to Binance Pay was a life-changing experience that came somewhat later.
It was when Binance Pay became his family’s lifeline and helped save the life of a dear family friend’s child.
A life-changing holiday in France
Residing in Algeria, Imed’s parents, Mr. and Mrs. Idrissi, belong to an older generation and are not exactly tech-savvy. His father is the owner of a transportation company while his mother is a former civil servant.
Before 2022, they were both staunch ‘fiat loyalists’ and did not understand why Imed would spend most of his time on P2P platforms, exchanging cryptocurrencies.
In the summer of 2022, however, their views changed. The Idrissi couple went to France for vacation, as they did every year, to visit family and friends.
As always, they paid a visit to Alain, an old friend of Imed’s father, with whom he shared an almost brotherly bond. Around that time, tragedy struck Alain’s family.
His young son was involved in a near-fatal car accident and required emergency surgery.
In France, most people have healthcare provided by the government however, certain types of medical care might require more expensive procedures.
Oftentimes residents of France hedge against unexpected costs by supplementing their basic package with private insurance.
Unfortunately, none of Alain’s family had held such an additional private insurance, and the required operation was exorbitantly expensive for their combined income.
The family, however, had no other choice, as Alain’s son’s life was hanging by a thread.
Imed’s father decided to help pay for the surgery and committed to transferring some 10,000 euros from his bank in Algeria.
The bank transfer problem
According to regulations at the time, transfers from Algerian banks to Europe were complicated by strict conditions, lengthy questionnaires to fill and long processing times.
When the Idrissi couple inquired about transferring 10,000 euros to Alain from their Algerian bank, they were told that the process could take up to a month to undergo all the checks and clearances because Algeria is not part of the SEPA zone.
Clearly, one month was unacceptable for the two families given the gravity of Alain’s son’s condition.
The hospital would have been obliged to accept late payment, the case would have dragged on for too long and they were all wondering if there could be a faster way to settle everything on the spot.
Binance Pay to the rescue
Desperately looking for ways to expedite the transfer, Mr. Idrissi called Imed in panic. Imed was ready with an answer cryptocurrency and Binance Pay.
Right on the same phone call, Imed walked his father through the steps needed to open a Binance Pay account.
Once Mr. Idrissi had passed Binance’s identity verification checks, the account was set up on the same day. Imed transferred the required sum in USDT stablecoins immediately.
Afterwards, Imed guided his parents through the process of exchanging stablecoins to the much-needed euros and then withdrawing fiat using fintech service providers.
All’s well that ends well
The Idrissi couple went to the hospital and helped settle the bills quickly. Meanwhile, Alain’s son received the care he needed to survive.
Within days, he was in recovery mode, and his life was no longer in danger. Alain was in tears with gratitude.
Both families now truly understand why cryptocurrency is not to be viewed only as a passing fad or to be dismissed as simply a risky investment.
Digital assets are a powerful tool that revolutionizes traditional finance and adds real-world value in numerous ways.
Platforms like Binance Pay have boosted the freedom of finance, helping move value more efficiently across borders.
Imed said,
“To me, Binance Pay means freedom. Once my money is on Binance, I consider it like having it in my own bank. I can use it whenever and wherever I want.
“With Binance Pay, transactions are fast and gas-fee-free, unlike traditional payments that involve fees and sometimes fail on weekends.
“With bank transfers, large transactions also often trigger inquiries that delay the transfer process even more.”
Both families now store cryptocurrency in their Binance accounts and use it regularly when traveling via Binance Pay.
Disclaimer
This story was submitted by a Binance Pay user. It is based on a personal experience and does not represent the views of Binance or constitute financial or investment advice.
The content is for general informational purposes only, and individual experiences with Binance Pay may vary.
Please conduct your own research and consult with a financial professional before making any decisions related to cryptocurrency or digital payments.
About Binance Pay
Binance Pay is a contactless, borderless and secure cryptocurrency payment technology designed by Binance.
It allows users to pay, send and receive payments in over 300 cryptocurrencies from friends and family worldwide.
Binance Pay has partnered with thousands of merchants all over the world to enable users to shop with over 80 crypto tokens globally.
Popular tokens supported include USDT, USDC, BTC, BNB, ETH, SOL, ADA, XRP, DOGE, LTC, SHIB and PEPE.
Find out how to use Binance Pay here.
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
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The post Medical Aid Across Borders – How Binance Pay Helped Save a Life appeared first on The Daily Hodl.
