In this article, I will talk about How To Deposit Money in Binance. As one of the biggest players in cryptocurrency today, Binance offers a surfeit of ways to fund their accounts.
In this article, we will discuss various methods on how to deposit fiat currencies or cryptocurrencies via bank transfer, credit card, and crypto transfer in a few simple steps!
If you are new to cryptocurrencies or are a seasoned trader, this guide will facilitate how you can easily fund your Binance account to start trading on the same.
How To Deposit Money in Binance?
Sign in with Binance: In case you are not signed up with the platform, sign in to your account.
Wallets at a Glance: Click on the ” Wallet” button or visit the wallet area.
Select Deposit: Find the option to ‘Deposit Click on it.
Choose Currency and Payment Method: Pick the cryptocurrency you are planning to deposit and prefer the desired payment method.
Deposit Amount: Type the deposit amount you want to pay
Do not deviate from the Instructions: Binance will detail how to deposit; you simply need to follow the steps provided, which include a deposit address or bank instructions. Do These Simple Instructions
Confirm transaction: The provided bank details should receive an exact amount of money from your bank_transfer. If it is a crypto deposit, you will need to use a provided wallet address.
Wait for confirmation: Wait until the appropriate time, depending on the method. Deposits by cryptocurrencies are processed almost instantly (bank transfers take a little longer).
See Your Balance: After clicking yes, if you go to the wallet section, then you can see your balance, which gets added.
A Step-by-step Guide To Depositing Fiat Currency Into Binance
Create an Account on Binance: If you do not have an account already, sign up on the Binance platform. Once indeed you are logged in, go to Buy Crypto Tab
Choose Deposit Method:
Advcash- Binance supports deposits and withdrawals via Advcash for fiat currencies, including EUR, RUB, KZT, and TRY_BP1.
Bank Transfer: Deposit fiat using bank transfer
Deposit via Advcash:
Buy Crypto -> Card Deposit or Buy Now (if available)
Choose the fiat currency (e.g., EUR) you want to deposit
Click “Advcash Account Balance” in the payment type.
Input the amount of deposit to make and VALIDATE GIVE it time for processing and it is done.
After this, you will be redirected to the website Advcash. Log in or create an account.
Follow up on the payment transaction sent via mail.
After that, as soon as the transaction is done, you will receive a notification that your transaction is completed.
Withdrawal:
The process to withdraw fiat is the same as in the “Sell Crypto” divorce. Now, just select Advcash as the payment method and proceed with the transaction.
How to deposit USDT into Binance?
To make a USDT deposit on Binance, go to the wallet dropdown menu, click on overview/ fiat and spot, and then click on the deposit crypto button.
In other to get your USDT deposit address, the first step is selecting USDT (Tether).
Choose USDT and deposit network. USDT Deposits on Binance currently supports AVAXC, BNB, BSC, ETH, Solana, Tron, and Polygon networks for USDT deposits.
Different exchanges set different deposit networks, for example, if you transfer USDT from another exchange to Binance, the withdrawal network and deposit network should be matching.
For example, if you transfer USDT from your wallet to Binance and it is BEP20 USDT on the BSC network, you can choose BSC.
If you have your USDT on the Ethereum network (or any other network like Polygon, AVAX,…), please select the correct deposit network.
Go to USDT (Tether) and await for deposit network > copy your address or scan QRcode > and browse transfer as USDT.
Importance of securing your Binance account and funds
Since this is something cryptocurrency space, security to your Binance account and funds should be of paramount importance.
2-Factor-Authentication (2FA)
Vital: Activate 2FA on your Binance account. It has an additional layer of security – it requires additional verification (e.g., authenticator app, SMS code) together with a password.
It would be best if you also thought about adding further protection by using hardware security keys like YubiKey.
Device Management:
Frequently check the devices that are allowed to log into your account. Delete all devices not identified or no longer used.
Go to your profile in Binance using your account and go to Security > Authorized Devices.
Strong Passwords:
Have a Strong Password for Your Binance Account There should be 8 characters, which have a combination of Letters, both upper and lower case, Special Characters, and Numbers. Never reuse a password from a different website or app.
Whitelist Withdrawal Address
Turn on the allow listing of withdrawal addresses. This guarantees that you only withdraw from addresses you trust.
Beware of Phishing:
Beware of anyone who says they are a “Binance employee.” It is very common for scammers to pretend they are employees just to take your money. Always verify any communication with the University before acting.
API Security:
Follow the safe practices if you use APIs Secure and Permissions Pair your API keys and provide limited access when needed
Universal 2nd Factor (U2F):
Use 2 Factor (U2F) for the second authentication level.
Conclusion
Binance offers a relatively streamlined and user-friendly process for depositing money using their exchange, accepting both fiat currencies and cryptocurrencies. First up, make sure you have gone through KYC on your Binance account.
Click on the “Fiat & Spot” wallet and press the fiat currency you want to deposit, next click on the payment methods available for this transfer and follow the procedures listed.
Click on the cryptocurrency you wish to deposit, copy your deposit address or scan the QR code, and send funds from your external wallet.
After the deposit is confirmed, you will see the funds available on your Binance account and be able to begin trading.
Always, always use two-factor authentication and keep strong security measures covering your assets.
This simple workflow, designed for users to be able to fund their Binance accounts quickly, is empowering our global audiences to open up more participation on the platform seamlessly.
