Binance is perhaps the most well-known cryptocurrency exchange in the world and definitely the biggest one in terms of volume. Trading on it gives its users the opportunity to attempt to multiply the money they’ve invested in crypto. So, how difficult can the Binance deposit debit/credit card or cryptocurrencies be? Well, it’s a lot simpler than you can imagine!
Depositing on Binance
1. Hover over the ‘Buy Crypto’ menu located in the header and then select your preferred deposit method. One of the easiest ways is via debit/credit card so let’s try this one.
2. For a VIP 0 account the minimum amount you can purchase is 15 USD and the maximum – 15 000 USD. The next steps are similar to making an order via any online store.
3. In case you choose the bank transfer, the amount of money you can deposit is far greater, extending up to 50 000 BUSD – a USD-denominated stablecoin. A stablecoin is a cryptocurrency pegged to a fiat (national) currency. So your USD deposit is automatically converted into BUSD.
4. If you already have crypto in another wallet, which is supported by Binance, you can transfer it to the exchange easily. Simply click on the ‘Wallet’ menu in the header and select ‘Overview’ – you will then be presented with the option to Deposit whatever cryptocurrency you possess.
5. You will see once again the deposit methods you are already familiar with – buying crypto via credit card or bank transfer. This time click on ‘Deposit Crypto’.
6. Read the instructions carefully. If you have an altcoin, check if it is an ERC20 token (in other words whether it is built on the Ethereum blockchain) – if it is, then they all share the same address. Copy the address of the cryptocurrency you’d like to top up your account with and then proceed with the transaction from your other wallet.
7. Check the ‘Recent Deposit History’ underneath to make sure that your crypto has arrived.
8. Great job, you have now successfully topped up your account!
Nothing on this website should be perceived as financial, investment or trading advice. We urge you to do your own research prior to investing and we highly recommend that you consult a certified financial advisor.
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