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How to Deposit on Binance

Beginner
1w ago
3m

How to deposit cryptocurrency on Binance

You can trade hundreds of cryptocurrencies on Binance, and you can deposit any one of these onto the exchange. In this example, we will be depositing BNB from Trust Wallet.

1. Log in to your Binance account. Once you’re 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 would 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, on Binance Smart Chain (BSC) as a BEP-20 token, and on 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, as if you deposit to the wrong address, you will 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? It’s required because the BNB deposit address for all users is identical. 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 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 block explorer by searching for the transaction ID. For example, you can use mintscan for Binance Chain.

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 buy cryptocurrencies on Binance with more than 60 fiat currencies, and multiple different payment methods.

1. Log in to your Binance account. Once you’re 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 transfer, or buying with a cash balance.

6. Enter the required details and follow the instructions.