binance deposit

Depositing Crypto in Binance 

Depositing crypto in binance been clarified in this guide. Binance has the most straightforward deposit and withdrawal processes. The process below is for depositing fiat currency in binance – That is, your local currency so that it reflects as crypto in your Binance wallet. 

Note: For you to transact in binance, you must verify your identity. It takes several minutes. All they require from you is your Identification document and a selfie to verify identity. If you want to save on time, kindly download the binance app in your mobile gadget and head to ‘Identification.’ You can ignore the verified plus for now as it’s not a requirement for transactions.

How to deposit crypto in binance

Firstly, depositing crypto in binance requires you to have the money in electronic form. This money should be in your mobile money provider platform, e.g. MTN, Vodafone or Mpesa, or in the bank (No pressure, whichever suits you).

Step 1:

  • Login to your Binance and go to the wallet
  • Under the wallet, select funding wallet

Step 2: 

While depositing crypto in binance, the funding area looks like the page below: –

crypto deposit in binance
  • Now search for your coin. E.g. USDT
  • On your selected coin, go to the far right and click buy (far right of that coin)
  • Then click buy 

You should land on a page like the one below: –

Step 3: 

  • Along the ‘green’ buy button, make sure it’s your intended coin selected.
  • Click the drop-down button under fiat and search the currency you intend to deposit, e.g. ZAR, USD, KES or EUR.
  • Under payment, where you see ‘All payments,’ select the easiest method to deposit, e.g. bank transfer, mpesa pay bill, MTN mobile money, Mpesa Kenya (Safaricom) etc. (It all depends on the currency or your location/country you are in.)
  • Select merchant with the highest completion rate – Well rated merchant 97%+. YES, this is a P2P platform. Thus, you send currency/money to a peer and receive crypto in return.

Step 4:

  • If you have identified your favorite merchant, it’s time to click buy and finalize the deposit. 
  • After clicking buy, follow the straightforward instructions by binance 
  • You should send the money to the details provided by the merchant and wait for the crypto to reflect in your wallet. This takes less than 10 minutes, maximum of 15 minutes. 
  • Only confirm after receiving. However, do not panic. It’s a seamless process.

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