How to buy coins on Binance with fiat money faster? When you open a Binance account, it is definitely to trade or buy/sell coins (also known as cryptocurrencies: bitcoin, ethereum… or any other currency) on the exchange for profit. To trade spot coins or futures or own coins on Binance, you need to deposit coins into a P2P wallet. This article will show you how to buy coins via P2P.
To make a coin purchase on Binance, you need to complete a few steps:
- Generate 2FA security code
- Complete at least 2-Step Verification
- Add a bank account on Binance
If you have completed the above three steps, let’s step by step to quickly buy coins in just 1 minute:
Click “Buy”, then select the coin you want to buy
Enter the amount and choose the currency you use to buy the currency.
Step 3: Click to confirm “Risk Warning”
The commercial risk warning window appears. You should read carefully to understand Binance’s policies.
Check “I have read and accept…” Click “Confirm”
- Next time you do not need to do this step.
Step 4: Choose the right coin seller
On the screen you will see a list of people selling the coin of your choice corresponding to the price, the limit of the coins and the amount the seller wants to accept the transaction.
Step 5: Click on “Buy USDT” in the right hand corner of the screen (if you are looking to buy USDT).
If you want to buy another coin, this button will show the buy button and the name of the corresponding coin.
Information about the merchant will appear on the screen:
- You should choose to trade with someone with a yellow “V” after the trade name, this verification shows that the seller has verified your identity with the Binance exchange, so it will be more trustworthy.
- Payment time limit: usually 15 minutes. If it takes longer, the time to receive your coin will have to wait a long time.
- Payment method: Usually the merchant will use “Bank Transfer”. If you want to use other methods, you need to see if the seller uses these payment methods.
- Terms and Conditions: Seller Transaction Requirements.
Next, you must enter the desired transaction information:
- I want to pay: Amount of USD that you want to buy. Immediately the system will show in the “I will receive” box the amount of coins that you will receive corresponding to the amount that you previously entered.
- Conversely, if you enter “I will receive” the amount of coins you want to buy, the “I want to pay” box will automatically display the amount you need to pay.
- After filling in the amount or coins you want to buy, click on “Buy USDT”
Step 6: Make the payment according to the information on your screen and click “Transferred, Next”
- You must make the transfer within 15 minutes, after this time the transaction will be cancelled.
- You must transfer the correct name, account number, amount
- Transfer content: The order number / or transaction number as requested is displayed on the screen.
- When the transfer is complete, select “Transferred, Next”.
- In approximately 15 minutes, the amount of Bitcoin purchased will be returned to your Fiat wallet.
Step 7: Check the number of coins you just bought
- Select Wallet/Fiat and Spot/Fiat Account.
- Click on the coin icon to see the amount of coins you just bought.
- If you do not receive the correct amount of coins you purchased or the seller has not transferred the coins, please click the “Message” icon to submit a support request to Binance.
So you have learned how to deposit money on Binance or buy coins on Binance with P2P method successfully. If you want to use the purchased coin to purchase other coins on the Binance exchange, click “Transfer” to transfer the purchased coin from the P2P wallet to the Spot wallet. Switching between these two wallets is free.
