How to Deposit and Trade at Binance

How to Deposit and Trade at Binance


How to Deposit at Binance


How to Deposit Crypto

Let’s use 10 USDT to illustrate how to transfer crypto from an external platform into your Binance account.

1. Log into your Binance account and go to your wallet overview page.
How to Deposit and Trade at Binance
2. Click on [Deposit] at the top right side of your screen.
How to Deposit and Trade at Binance
3. Select [Deposit Crypto].
How to Deposit and Trade at Binance
4. Select the cryptocurrency you want to deposit. In this example, we will deposit USDT.
How to Deposit and Trade at Binance
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.
How to Deposit and Trade at Binance
  • 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).
How to Deposit and Trade at Binance
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 and Trade at Binance

How to Deposit Money


How to Deposit Money for example, EUR, GBP, etc., via Bank Transfer (SEPA)

Select [Bank Deposit] under the [Buy Crypto] tab.
How to Deposit and Trade at Binance
Select the corresponding currency, enter the amount, and click [Continue].
How to Deposit and Trade at Binance
Get detailed payment information.
How to Deposit and Trade at Binance
Complete Deposit to your account.
How to Deposit and Trade at Binance


Binance Bank Transfer via SEPA and Faster Payments


1. What is the Single Euro Payments Area (SEPA)?

SEPA is an initiative of the European Union and is strongly supported by the European Commission and the European Central Bank that allows fast, reliable, and affordable Euro (EUR) transfers between bank accounts within the SEPA-zone.

2. What are the Deposit and Withdraw Fees for EUR?

Availability Deposit Fee Withdrawal Fee Processing Time
SEPA Free 0.80 EUR
0-3 business days.
Weekdays only
SEPA Instant Free 0.80 EUR Within a few minutes. 24/7/365

Important Notes:
  • This information may change from time to time. Please login to your Binance account and navigate to the bank deposit page to get the most recent information.
  • You will enjoy a lifetime limit of 150 USD after you register. To increase the limit, please proceed to complete your identity verification.
  • Fees listed in the above chart do not include additional fees charged by your bank (if any).
  • SEPA Instant supports 24/7/365 processing, however, users are advised to consult their bank regarding the availability of SEPA Instant and possible fees charged by your bank.

3. What is Faster Payments Service (FPS)?

FPS is a UK banking initiative to reduce payment times, United Kingdom’s 24/7 Real-Time Payment System, and is one of the most advanced systems of its type in the world. FPS allows fast, reliable, and affordable GBP transfers.

4. What are the Deposit and Withdraw fees for GBP?

Availability Deposit Fee Withdrawal Fee Processing Time
FPS Free 1.5 GBP In a few minutes. 24/7/365
Important Notes:
  • This information may change from time to time. Please login to your Binance account and navigate to the bank deposit page to get the most recent information.
  • In order to enjoy a higher limit, please proceed to complete your identity verification.
  • Fees listed in the above chart do not include additional fees charged by your bank (if any).
Trading cryptocurrencies involves significant risk and can result in the loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Binance based on the legal requirements in your country of residence. Investments in crypto assets are not covered by the Financial Ombudsman Service or subject to protection under the Financial Services Compensation Scheme.


Complete the Identity Verification for SEPA and Faster payments

Identity Verification

1. Log in to your Binance account.

2. Click the [Identification] button on the personal information tab as shown below:
How to Deposit and Trade at Binance
3. Click the [Verify] button beside “Personal Details” under the Identity Verification section.

4. Choose your country/region and click [Start].
How to Deposit and Trade at Binance
How to Deposit and Trade at Binance
5. In the next screen, please input the information as requested and click the [Submit Continue] button.
How to Deposit and Trade at Binance
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.
How to Deposit and Trade at Binance
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].
How to Deposit and Trade at Binance
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.
How to Deposit and Trade at Binance

Address Verification

1. Log in to your Binance account.
2. Click the [Identification] button on the personal information tab as shown below:
How to Deposit and Trade at Binance
3. Click the [Verify] button beside “Residential Address” under the Identity Verification section.
How to Deposit and Trade at Binance
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.
How to Deposit and Trade at Binance

5. After uploading your proof of residence click the [Begin Verification] button.

How to Buy Crypto on Binance P2P


Buy Crypto on Binance P2P by Web App

Step 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"
How to Deposit and Trade at Binance
Step 2:
Enter your email on the registration page and set your login password. Read and check the Binance Terms and click "Register".
How to Deposit and Trade at Binance
Step 3:
Complete Level 2 identity verification, enable SMS Verification, and then set your preferred payment method.
How to Deposit and Trade at Binance
How to Deposit and Trade at Binance
Step 4:
Select (1) “Buy Crypto” then click (2) “P2P Trading” on the top navigation.
How to Deposit and Trade at Binance
Step 5:
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".
How to Deposit and Trade at Binance
Step 6:
Enter the amount (in your fiat currency) or quantity (in crypto) you want to buy and click (2) "Buy".
How to Deposit and Trade at Binance
Step 7:
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”.
How to Deposit and Trade at Binance
How to Deposit and Trade at Binance
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.

Step 8:
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.
How to Deposit and Trade at Binance
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.
How to Deposit and Trade at Binance
How to Deposit and Trade at Binance
How to Deposit and Trade at Binance

Buy Crypto on Binance P2P by Mobile App


Step 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
How to Deposit and Trade at Binance
Step 2
Enter your email on the registration page and set your login password. Read the Binance P2P terms and click on the arrow to register.
How to Deposit and Trade at Binance
Step 3
Enter your email and password, then click on the arrow to Log In.
How to Deposit and Trade at Binance
Step 4
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.
How to Deposit and Trade at Binance
Step 5
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”.
How to Deposit and Trade at Binance
Step 6
Enter the quantity you want to buy, confirm the sellers payment method(s), and click “Buy USDT”.
How to Deposit and Trade at Binance
Step 7
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”
How to Deposit and Trade at Binance
How to Deposit and Trade at Binance

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.

Step 8
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.
How to Deposit and Trade at Binance
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.
How to Deposit and Trade at Binance
Note :
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.
How to Deposit and Trade at Binance
Or you can click "Appeal”, select a “Reason for Appeal”, and “Upload Proof”. Our customer support team will assist you in processing the order.
How to Deposit and Trade at Binance
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)


Why has my Deposit not been credited yet?

Transferring funds from an external platform to Binance includes three steps:
  • 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.

For example:
  • 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.


How do I check the transaction status on the blockchain?

Log in to Binance.com, click on [Wallet]-[Overview]-[Transaction history] to find your cryptocurrency deposit record.
How to Deposit and Trade at Binance
Then click on [TxID] to check the transaction details.
How to Deposit and Trade at Binance


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:
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).
 

How to Trade at Binance


How to Trade Spot on Binance Web App

Visit our Binance website (www.binance.com), click on [Log in] at the top right of the page to log into your Binance account.
How to Deposit and Trade at Binance
Then click on any cryptocurrency on the home page, and go directly to the corresponding spot trading page.
How to Deposit and Trade at Binance
Here is the trading page interface.
How to Deposit and Trade at Binance
  1. Binance Announcements
  2. Trading volume of trading pair in 24 hours
  3. Sell order book
  4. Buy order book
  5. Candlestick chart and Market Depth
  6. Trading Type: Spot/Cross Margin/Isolated Margin
  7. Type of order: Limit/Market/Stop-limit/OCO(One-Cancels-the-Other)
  8. Buy Cryptocurrency
  9. Sell Cryptocurrency
  10. Market and Trading pairs.
  11. Your latest completed transaction
  12. Market Activities: large fluctuation/activities in market trading
  13. Open orders
  14. Your 24h order history
  15. Binance customer service
Let’s take an example to buy BNB. On the top of the Binance home page, click on the [Trade] option and select [Classic] or [Advanced]. Go to the buying section to buy BNB and fill in the price and the amount for your order, then click on [Buy BNB] to complete the transaction.

You can follow the same steps to sell BNB.
How to Deposit and Trade at Binance
  • The default order type is called a limit order. But if traders want to place an order as soon as possible, they may switch to [Market] Order. By choosing a market order, traders could make a transaction instantly at the current market price.
  • If the market price of BNB/BTC is at 0.002, but you want to buy at a specific price, for example, 0.001, then you can place a [limit] order. When the market price reaches your set price, your placed order will be executed.
  • The percentage shown below the BNB Amount box refers to the amount of BTC you wish to use to buy BNB.Put the amount and buy crypto.

How to Trade Spot on Binance Mobile App

Log in to the Binance App, click on [Trade] to go to the spot trading page.
How to Deposit and Trade at Binance
Here is the trading page interface.
How to Deposit and Trade at Binance
1.Market and Trading pairs.

2.Real-time market candlestick chart, supported trading pairs of the cryptocurrency, “Buy Crypto” section.

3.Sell/Buy order book.

4.Buy/Sell Cryptocurrency.

5.Open orders.

You can use "Limit order" to buy BNB.
How to Deposit and Trade at Binance
  1. Insert 0.002 BTC for the price.
  2. Select 100% for the quantity.
  3. Once the market price of BNB reaches 0.002 BTC, the “Limit” order will be completed, and you will have 1 BNB in your spot wallet.

You can follow the same steps to sell BNB.

NOTE:
  • The default order type is called a limit order. But if traders want to place an order as soon as possible, they may switch to [Market] Order. By choosing a market order, traders could make a transaction instantly at the current market price.
  • If the market price of BNB/BTC is at 0.002, but you want to buy at a specific price, for example, 0.001, then you can place a [Limit] order. When the market price reaches your set price, your placed order will be executed.
  • The percentage shown below the BNB Amount box refers to the amount of BTC you wish to use to buy BNB.Put the amount and buy crypto.

How to Use the Stop-Limit Function


What is a stop-limit order?

A stop-limit order is a market order that has both a stop price and a limit price. When the stop price is reached, it triggers the limit order. The limit price is the specific price of the limit order the stop price triggers.

Once your stop price has been reached, the limit order is immediately placed on the order book.

The stop and limit prices can be the same. However, it’s recommended for sell orders to set your stop price (trigger price) slightly higher than the limit price. The price difference allows for a safety gap in price between the time the order is triggered and when it is fulfilled.

For buy orders, set your stop price slightly lower than the limit price. This will also reduce the risk of your order not being fulfilled.

SL (stop-limit) terms and mechanics

Stop price: When the asset’s price reaches the given stop price, the stop-limit order is executed to buy or sell the asset at the given limit price or better.

Limit price: The selected (or potentially better) price that the stop-limit order is executed at.

Quantity: The quantity of assets to buy or sell in the stop-limit order.

Worked Example

The last traded price of BNB is 498 BUSD, and you feel that there is resistance around 500 BUSD.

If you think that the price will go higher after the price reaches the resistance level, you can put a Stop-Limit order to automatically buy more BNB at the price of 502 BUSD. This way, you won’t have to continuously watch market movements waiting for the price to reach your target price.


How to create a stop-limit order

Continuing with our example, we will look at exactly how you can make a stop-limit order

1. Select [Stop-limit] from the trading view to begin making your order.
How to Deposit and Trade at Binance
2. Fill in the details of your stop price (trigger price), limit price for the triggered limit order, and the amount of crypto you wish to purchase. Click [Buy BNB] to confirm the details of the transaction.
In our example, the stop price is 500 BUSD and the limit price is 502 BUSD.
How to Deposit and Trade at Binance
3. Double check your stop-limit order carefully before finally clicking confirm to submit it to the exchange.
How to Deposit and Trade at Binance
View existing stop-limit orders

Once your orders have been submitted, existing ‘stop-limit’ orders can be found and reviewed in [Open Orders]. You can find this tab at the bottom of the trading view page.
How to Deposit and Trade at Binance
When orders are executed or discarded, your stop-limit order history can be found under [Order History].

Thank you for rating.
Source: Binantrader - binantrader.com | How to Deposit and Trade at Binance - https://binantrader.com/how-to-deposit-and-trade-at-binance-05133282
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