How to Deposit on Binance | Binance Academy

TL;DR

Binance accepts fiat and crypto deposits from external wallets and bank accounts. The method you need to use will differ depending on the currency you want to deposit.

Make sure to double-check the blockchain address and to input the correct memo or ID when required. If the blockchain network is congested, you may experience delays with your crypto deposits. If that happens, you may need to wait a bit more until your transaction is confirmed. If, after a while, you are still having issues, please contact Binance Customer Support.

Depending on the method you use, fiat deposits can take multiple days to be credited. If you experience long delays, check if deposits have perhaps been suspended before contacting customer support.

Introduction

Before you can trade cryptocurrencies on Binance, you need to deposit fiat or crypto funds. There are multiple methods for depositing your funds. Some take longer than others, so a bit of patience is required. Follow the steps below to make sure your funds arrive SAFU and sound.

How to deposit cryptocurrency on Binance

In this example, we will be depositing BNB from Trust Wallet.

1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].

2. Click on [Deposit].

3. Select the [Crypto] tab.

4. Choose the cryptocurrency you’d like to deposit.

5. If the cryptocurrency is issued on multiple networks, select which one you’d like to make your deposit on.

For example, BNB is issued on Binance Chain as a BEP-2 token, Binance Smart Chain (BSC) as a BEP-20 token, and Ethereum as an ERC-20 token. As such, if you have BEP-2 tokens in the wallet you’re sending from, choose the BEP-2 deposit address. Be extra careful with this step. If you deposit to the wrong address, you might lose your deposit.

6. Depositing BNB requires both a deposit address and a MEMO. You’ll need to copy and paste them both in the appropriate fields in the wallet you’re depositing from.

Why is a MEMO needed? Because the BNB deposit address is identical for all Binance users. The MEMO is a unique identifier assigned to each account that allows Binance to identify a deposit and credit the appropriate account.

7. Tap on BNB in your Trust Wallet.

8. Tap on Send.

9. This field is where you’ll need to paste the deposit address and MEMO from the deposit page on Binance. You can also use your phone camera to scan the QR code.

10. Confirm the transaction. Once you’ve sent it from your Trust Wallet, you can look at its status in a blockchain explorer by searching for the transaction ID. We recommend the official Binance Chain explorer.

11. You’ll be able to see your incoming deposit under your Transaction history on Binance.

How to buy cryptocurrency with fiat currency on Binance

You can purchase cryptocurrencies on Binance with more than 60 fiat currencies and multiple payment methods. The process would also be similar for other cryptocurrencies, including Bitcoin (BTC) or Ether (ETH).

1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].

2. Click on [Deposit].

3. Select the [Fiat] tab.

4. If you haven’t done so, complete your identity verification by clicking on [Verify Now] and following the instructions.

5. Select the currency you’d like to buy with and the payment method. Binance supports credit cards, debit cards, bank transfers, or your fiat balance.

6. Enter the required details and follow the instructions.

7. Make sure to double-check the payment details before submitting your payment.

Does Binance have crypto deposit fees?

Depositing your crypto into Binance is free of fees. However, don’t forget that you’ll have to pay a transaction fee when you send your crypto from your wallet to Binance. If you’re moving your funds from an exchange, you might have to pay a withdrawal fee to take your crypto out.

The maximum & minimum deposit amount with and without KYC

Users who haven’t completed KYC (Know Your Customer) on their account will have their deposits and withdrawals limited to a greater extent. The actual limits differ for each country, so the best way to find out is to log in and head to your profile page. Each new level of verification will also increase your deposit and withdrawal limits.

How long does it take to deposit on Binance?

As soon as your crypto deposit has enough confirmations, it should appear straight away in your Binance Spot Wallet. However, heavy network traffic and congestion can cause delays. You can use the TxID (Transaction ID) to check the transfer’s status using a blockchain explorer like BscScan for Binance Smart Chain or EtherScan for Ethereum.

Fiat deposits will depend on the method you’ve used to send your money. The time it takes to deposit can range from hours to days. For more detailed information, head to the fiat deposit page and select your chosen deposit method.

Why can’t I deposit to Binance?

If you’re trying to deposit crypto or fiat into Binance, there are two main reasons why your deposit might fail. First, Binance occasionally suspends fiat or crypto deposits for updates or technical maintenance. If you have tried to make a fiat transfer and your fiat is no longer supported, Binance will return the funds (typically within seven working days).

If you’re having trouble depositing your crypto, this is often due to user error. On the deposit screen, Binance will display the payment details for you to use. Make sure you carefully copy them into your withdrawing wallet or payment service page.

Binance occasionally suspends deposits, so check your email or Binance’s latest news for more information. Make sure also that you have correctly copied and pasted the wallet address from Binance and that you’ve selected the correct blockchain network. You may also need to add a tag, MEMO, or payment ID to deposit your crypto successfully.

What should I do if my Binance deposit has not arrived

If you’ve sent a fiat deposit and Binance hasn’t credited it to your account, get in touch with Binance’s customer support team. Fiat deposits can take up to a few days.

If you have sent a crypto deposit to the correct address without a MEMO, tag, or payment ID, you can use the self-service form to help recover your funds. For this, you’ll need some basic information about your transaction, including TxID, amount, and sender’s address. This process only works if the blockchain has sufficiently confirmed your transaction.

If your transaction isn’t confirmed, the network could be congested, and you’ll need to wait longer. Different blockchains require a different amount of confirmations. As mentioned, you can use the TxID to look up the status of the transfer of your assets by using a blockchain explorer.

How to check if a deposit was successful

If your crypto deposit has enough successful confirmations, it should appear immediately in your Binance Spot Wallet. You can check this further by navigating to [Wallet] - [Overview] - [Transaction History].

Fiat deposits should also show as soon as they have successfully reached Binance’s account. You can see these in the [Fiat & Spot] section of the website.

Closing thoughts

Loading your Binance account with fiat or crypto can take some time. Binance always attempts to give its customers the fastest processing times for deposits, but delays are often out of Binance’s hands. If you’ve been waiting longer than usual, please get in touch with Binance customer support.