On Binance, there are different options available for buying cryptocurrencies. If you are looking for a fast and efficient way to make your cryptocurrency purchases, you should consider using a debit/credit card or making card deposits. In this article you will learn how to buy crypto with a card, and the differences between loading funds into your fiat wallet using card deposits.
Direct card purchases help you buy cryptocurrencies at the real-time price. This option is great when you think the best price to buy crypto is right now. However, if you want to increase your fiat balance for purchases and trading, use card deposits. With cash in your fiat balance, you can wait until you find the most convenient price before making a purchase.
Buy cryptocurrencies by card
It simply consists of buying cryptocurrencies with your usual debit or credit card. It is a fast, secure and efficient way to make cryptocurrency payments. You do not need to obtain a special card to complete transactions. Your usual Visa or MasterCard is more than enough.
5 steps to buy crypto with a credit/debit card
Step One – Visit Binance.com or use the Binance app, and create an account if you don’t already have one.
Step Two – Complete the identity verification process to have unlimited access to all Binance services.
Step Three – Click “Buy Crypto” at the top left of the menu bar. It is difficult to ignore it. You will also see another menu with the available purchase options, select credit/debit card to open a new page.
Step Four – On the new page, you can select the amount you want to buy, the local currency, as well as the cryptocurrency you want to purchase. You have two card options – Visa and Mastercard.
Step Five – Click buy BTC (or any other cryptocurrency) and enter your card details in the popup. After filling in the required data, confirm your order within 60 seconds, and complete the transaction. You can now go to your wallet to see the cryptocurrencies.
Advantages of buying crypto with a debit or credit card
Secure: All major card purchases, over $300, can only be completed on a verified account for security purposes. Verification also ensures that only the cardholder can complete a purchase.
Easy and fast: The steps listed above can be completed in less than five minutes if you already have a verified Binance account. Also, navigating on Binance is very easy. You don’t have to be a tech guru to complete your purchase. In addition, it is likely that you have already completed several card transactions before, so the process will be familiar to you.
Efficient transactions: fiat money is deposited directly from your Binance cryptocurrency Bank Account or Credit Card Company. You do not need to reload the card with funds before you can buy cryptocurrencies. This saves time and makes transactions more efficient.
Multiple Options – Binance has the option of credit/debit card payments in multiple countries, and keeps adding more every now and then, especially when compared to card deposits.
Buy cryptocurrencies using your card or fiat deposit
When adding funds to your fiat wallet by card you will need a Visa or MasterCard. However, you will not be able to buy cryptocurrencies directly as is the case with card payments. You will need to make fiat deposits to your Binance account first, before you can use them to make crypto purchases. It takes a bit longer to get your crypto when your cash balance is at zero. However, it is an excellent option for repeat buyers who prefer to make bulk deposits.
Countries and regions that support card deposits on Binance
Australia, Single Euro Payments Area (SEPA), Hong Kong, Kazakhstan, Peru, Russia, Turkey, Ukraine, Uruguay
What currencies are available for fiat top-ups via card deposit?
AUD, EUR, HKD, KZT, NOK, PEN, RUB, TRY, UAH, UGX
5 steps to deposit fiat money with a credit/debit card
Step One – Login to your Binance account via the mobile app or website. If you don’t have one, create one and check it out.
Step Two – Find the wallet in the menu and click on “fiat and spot”. In the pop-up window that will appear, choose “deposit”.
Step Three – Enter your MasterCard or Visa card number and choose a payment method to continue. You will also need to add your billing address.
Step Four: In the pop-up window that will appear, enter the total amount you wish to deposit, visually verify the details above, and click the “confirm” button.
Step Five – At this point, your money should have been deposited into your Binance fiat balance. So, when you want to buy cryptocurrencies, choose the “fiat balance” option.
Advantages of buying crypto through fiat wallet with funds by card deposit
Value at disposal: When you have a fiat balance, you don’t need to add your card details every time you want to buy crypto. Simply use your existing fiat balance.
Security: Before completing deposits of more than 300 USD a verification process is required. You cannot make a deposit without your card details, and no one else will be able to use your card details for their accounts.
Efficient: Compared to a bank transfer, this option is very efficient. You will save time and energy every time you want to top up your fiat balance.
Fast and convenient: Buying crypto on Binance via card deposit is usually fast and doesn’t limit you to paying real-time prices.
More options: A card deposit does not have as many options as card purchases, but it is supported in more countries than a bank deposit.