How to Deposit in Binance
Let’s use 10 USDT to illustrate how to transfer crypto from an external platform into your Binance account.
How to Deposit Crypto in Binance
1. Log into your Binance account and go to your wallet overview page.
2. Click on [Deposit] at the top right side of your screen.
3. Select [Deposit Crypto].
4. Select the cryptocurrency you want to deposit. In this example, we will deposit USDT.
5. Next, choose the deposit network. Make sure the selected network corresponds with the network of the platform you are withdrawing funds from.
Be careful! If you select the wrong network, you will lose your funds.
Summary of network selection:
- BEP2 relates to the Binance Chain.
- BEP20 relates to the Binance Smart Chain (BSC).
- ERC20 relates to the Ethereum network.
- OMNI refers to the OmniLayer that runs on the Bitcoin network.
- TRC20 relates to the TRON network.
- BTC refers to the Bitcoin network.
- BTC (SegWit) refers to Native Segwit (bech32), and the address starts with “bc1”. Users are allowed to withdraw or send their Bitcoin holdings to SegWit (bech32) addresses. For more details, please refer to Segregated Witness (SegWit) FAQ.
6. In this example, we will withdraw USDT from another platform and deposit it into Binance. Since we are withdrawing from an ERC20 address (Ethereum blockchain), we will select the ERC20 deposit network.
- The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal from.
- If the external platform only supports ERC20, you must select the ERC20 deposit network.
- DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
- For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you will lose your funds.
7. Copy the deposit address provided by Binance and paste it on the corresponding platform’s address section (where you intend to withdraw your funds from).
8. After confirming the withdrawal request, you have to wait until the transaction is confirmed. The confirmation time varies depending on the blockchain and its current network traffic.
Please, wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.
9. You can check the [Transaction History] page for more information on your recent transactions.
How to Deposit Money in Binance
Select [Bank Deposit] under the [Buy Crypto] tab.
How to Deposit Money for example, EUR, GBP, etc., via Bank Transfer (SEPA)
Select the corresponding currency, enter the amount, and click [Continue].
Get detailed payment information.
Complete Deposit to your account.
Binance Bank Transfer via SEPA and Faster Payments
Complete the Identity Verification for SEPA and Faster payments
Identity Verification1. Log in to your Binance account.
2. Click the [Identification] button on the personal information tab as shown below:
3. Click the [Verify] button beside “Personal Details” under the Identity Verification section.
4. Choose your country/region and click [Start].
5. In the next screen, please input the information as requested and click the [Submit Continue] button.
6. Choose the issuing country/region and select the ID type (passport, driver’s license or identity card).
You must use a valid government-issued picture identification document.
7. Next, you will need to perform facial verification. Please avoid wearing hats or glasses and using filters. Also, make sure there is enough lighting. When you are ready, click [Begin Verification].
8. That’s it! You successfully submitted your verification. You will receive the result in your email address within 1-3 business days. Please, be patient.
1. Log in to your Binance account.
2. Click the [Identification] button on the personal information tab as shown below:
3. Click the [Verify] button beside “Residential Address” under the Identity Verification section.
4. Next, you will need to provide a proof of residence, such as a bank statement or utility bill (electricity, water, internet, etc.). Make sure to adhere with the following instructions:
- Your name on the document must be the same as your submitted ID.
- Your address on the document must be the same as the residential address you entered.
- Your document must have been issued within the last 3 months.
- Your name, address, document issue date, and issuer must be shown clearly on the document.
- Your document must have a high image quality (at least 300 DPI) in one of the following formats: PDF, JPEG, JPG, PNG.
5. After uploading your proof of residence click the [Begin Verification] button.
How to Buy Crypto in Binance P2P
Buy Crypto on Binance P2P by Web AppStep 1:
Go to the Binance P2P page, and
- If you already have a Binance account, click "Log In" and go to Step 4
- If you do not have a Binance account yet, click "Register"
Enter your email on the registration page and set your login password. Read and check the Binance Terms and click "Register".
Complete Level 2 identity verification, enable SMS Verification, and then set your preferred payment method.
Select (1) “Buy Crypto” then click (2) “P2P Trading” on the top navigation.
Click (1) "Buy" and select the currency you want to buy (BTC is shown as an example). Filter the price and the (2) “Payment” in the drop-down, select an ad, then click (3) "Buy".
Enter the amount (in your fiat currency) or quantity (in crypto) you want to buy and click (2) "Buy".
Confirm the payment method and amount (total price) on the Order Details page.
Complete the fiat transaction within the payment time limit. Then click "Transferred, next" and “Confirm”.
Note: You need to transfer the payment directly to the seller through bank transfer, Alipay, WeChat, or another third-party payment platform based on the sellers payment information provided. If you have already transferred payment to the seller, you must not click "Cancel" unless you have already received a refund from the seller in your payment account. If you do not make an actual payment, please do not click "Confirm" to confirm the payment. This is not permitted according to the rules of the transaction. If you encounter any issues during the transaction, you can contact the seller using the chat window.
Once the seller has released the cryptocurrency, the transaction is completed. You can click (2) "Transfer to Spot Wallet” to transfer the digital assets to your Spot Wallet.
You can also click (1) "Check my account" above the button to view the digital asset you just bought.
Note:If you do not receive the cryptocurrency 15 minutes after clicking "Transferred, next”, you can click "Appeal" and Customer Service will assist you in processing the order.
Buy Crypto on Binance P2P by Mobile AppStep 1
Log in to Binance app
- If you already have a Binance account, click “Log in” and go to Step 4
- If you do not have a Binance account yet, click “Register” on the top left
Enter your email on the registration page and set your login password. Read the Binance P2P terms and click on the arrow to register.
Enter your email and password, then click on the arrow to Log In.
After you log in to the Binance app, click the user icon on the top left to complete identity verification. Then click “Payment Methods” to complete SMS authentication and set your payment methods.
Go to the home page, click “P2P Trading”.
On the P2P page, click the (1) “Buy” tab and the crypto you want to buy (2) (taking USDT for example), and then select an ad and click (3) “Buy”.
Enter the quantity you want to buy, confirm the sellers payment method(s), and click “Buy USDT”.
Transfer the money directly to the seller based on the seller’s payment information provided within the payment time limit, and then click “Transfer the fund”. Tap on the payment method you transferred to, the click “Transferred, next”
Note: Setting payment method on Binance does not mean that the payment will go directly to the sellers account if you click “Transferred , next” . You need to complete the payment directly to the seller through bank transfer, or another third-party payment platform based on the sellers payment information provided.
Please do not click “Transferred , next” if you have not made any transactions. This will violate the P2P User Transaction Policy.
The status will be “Releasing”.
Once the seller has released the cryptocurrency, the transaction is completed. You can click "Transfer to Spot Wallet” to transfer the digital assets to your Spot Wallet.
You can click “Wallet” at the bottom and then “Fiat” to check the crypto you bought in your fiat wallet. You can also click “Transfer” and transfer the cryptocurrency to your spot wallet for trading.
If you do not receive the cryptocurrency 15 minutes after clicking “Transferred, next”, you can contact the seller by clicking the “Phone” or “Chat” icon on the top.
Or you can click "Appeal”, select a “Reason for Appeal”, and “Upload Proof”. Our customer support team will assist you in processing the order.
1. You can only buy or sell BTC, ETH, BNB, USDT, EOS and BUSD on Binance P2P currently. If you would like to trade other cryptos, please trade at the spot market.
2. If you have any questions or complaints, please contact our customer support team.
Frequently Asked Questions (FAQ)
Transferring funds from an external platform to Binance includes three steps:
Why has my Deposit not been credited yet?
- withdrawal from the external platform
- Blockchain network confirmation
- Binance credits the funds to your account
An asset withdrawal marked as “completed” or “success” in the platform youre withdrawing your crypto from means that the transaction was successfully broadcast to the blockchain network. However, it might still take some time for that particular transaction to become fully confirmed and credited to the platform you’re withdrawing your crypto to. The amount of required “network confirmations” varies for different blockchains.
- Bitcoin transactions are verified that your BTC is deposited into your corresponding account after reaching 1 network confirmation.
- All of your assets will be frozen temporarily until the underlying deposit transaction reaches 2 network confirmations.
Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the TxID (Transaction ID) to look up the status of the transfer of your assets by using a blockchain explorer.
- If the transaction has not yet been fully confirmed by the blockchain network nodes, please wait and try again later.
- If the transaction is unconfirmed by the blockchain network, but it has also reached the minimum amount of network confirmations specified by our system, please contact our Support team and create a ticket with TxID, coin/token name, deposit amount and transfer time. Please make sure you have provided the above-detailed information so the Customer Service agent can assist you in a timely manner.
- If the transaction is confirmed by the blockchain but not credited to your Binance account, please provide us with the TxID, token name, deposit amount, and time.
Log in to Binance.com, click on [Wallet]-[Overview]-[Transaction history] to find your cryptocurrency deposit record.
How do I check the transaction status on the blockchain?
Then click on [TxID] to check the transaction details.
Summary of Incorrect Deposit
Missing or wrong TAG:
If you forgot to use a Tag, Memo or payment ID (e.g. BNB, XLM, XRP, etc) or used an incorrect one, then your deposit will not be credited.
Currently, you can apply for recovering your assets via self-service online:
- To submit an application: https://www.binance.com/en/my/wallet/recovery/form/d
- To check the recovery records: https://www.binance.com/en/my/wallet/recovery/list
Deposit made to incorrect receiving/deposit address or Unlisted token deposited:
Binance generally does not offer a token/coin recovery service. However, if you have suffered a significant loss as a result of incorrectly deposited tokens/coins, Binance may, solely at our discretion, assist you in recovering your tokens/coins. Binance has comprehensive procedures to help our users recovering their financial losses. Please be noted that successful token recovery is not guaranteed. If you have encountered this sort of situation, please remember to provide the following information to us for speedy assistance:
- The email address of your Binance account
- Token name
- Deposit amount
- The corresponding TxID
Deposit to an incorrect address which doesnt belong to Binance:
If you have sent your tokens to an incorrect address which does not belong to Binance. We are unable to provide you any further assistance. You are suggested to contact the relevant parties (owner of the address or exchange/platform which the address belongs to).
Source: Binance Exchange - cryptoblogx.com | How to Deposit in Binance - https://cryptoblogx.com/how-to-deposit-in-binance-05133213
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