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By now, having a Green wallet and using Liquid is no longer an option but a necessity.

Download it here:

https://blockstream.com/green/

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Discussion

What are the benefits? Compered to LN and on chain multi Sig setup up?

The advantages compared to lightning is being able to pay amounts over 1M sats without any problems and compared to bitcoin on-chain besides the speed of confirmation the fees are very low.

With a service like Sideswap you don't even need to own them first to send them:

https://sideswap.io/peg-in-out/

I have no clue about Liquid, so I will ask straight what I am thinking:

How is it any different from pegging some of my bitcoin into Binance and using Binance internal transfers between users? There even are no tx fees at all. If you do not like KYC with your small transfers, go for BLink instead of Binance. So what is the difference? If I am correctly informed, Liquid is centralized and custodial anyway.

Sorry you are misinformed, I am not here to propagandise Liquid, but everything you have written is incorrect.

If you want to know a bit more read here:

https://blockstream.com/liquid/

With Binance you have 1 custodian, with liquid, you have 15 custodians. The federated custody mode has less risk of lost of funds.