âī¸How to buy USDT on Binance
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The first hurdle for any new user starting to learn crypto is how to convert from fiat into crypto. Within the scope of this article, ShopNEXT will show you how to easily buy and sell crypto through the Binance app.
There are two ways to conduct crypto purchases through Binance, using a bank card or through P2P trading. In this tutorial, we will go through both methods at the same time.
A. Buying crypto at Binance via credit/debit card
Step 1: At the homepage of Binance mobile app, select Trade, then select Fiat tab above. Binance currently supports VISA and Mastercard. Next you enter the symbol of the crypto you want to buy. In this example, letâs learn how to buy USDT.
Step 2: Enter the amount of fiat you want to use to buy USDT and press the continue button (note that Binance will specify the minimum and maximum amount you can buy with your credit/debit card, in case example for Vietnam Dong, it is from 360,000 to 118,000,000 VND). Next, Binance will tell you the current USDT conversion rate against VND. If it is the first time using the card to transact, Binance will ask you to provide card information followed by a payment address. Finally, you check the information and press the confirm button to complete the crypto transaction with your bank card.
B. Buying crypto on Binance through fast P2P trading
Step 1: At the main screen, click Trade and select the P2P tab above. You then confirm your agreement to participate in the P2P transaction. Binance has 3 forms of P2P trading namely Express Trading, Normal P2P Trading, and Bulk Trading. Binance P2P transactions are free. In this tutorial, we will explore the first two popular methods. First, you choose the Express transaction, which is the transaction where Binance will choose the seller and price for you.
Step 2: At this step you can Quick Buy many different cryptos like USDT, BTC, ETH, BNB, etc. You need to enter the amount you want to buy then click confirm.
Step 3: On the next screen you will receive the sellerâs information as well as the terms of operation. You will have 15 minutes to transfer the money to the merchantâs bank account. During these 15 minutes, the crypto that the merchant will transfer to you will be locked by Binance to ensure that in the event that the seller receives the funds without transferring the crypto to you, Binance disburses the locked portion to you after confirming the payment. In this section, you need to carefully read the sellerâs terms, especially the transfer notes. You can press the chat button to chat directly with the seller if they are online.
Note:
You just click on the Transferred button after completing the bank transfer.
Remember to take a screenshot of the payment transfer screen to send to Binance in case of dispute.
After pressing the Transferred button, within 15 minutes you will receive the crypto into your wallet. If after the above time you still have not received the token, please press the help button to contact Binance.
C. Buying crypto on Binance through traditional P2P exchange
Step 1: Fast P2P transaction is actually a traditional P2P transaction, but Binance has chosen for you the best seller as well as the price. For traditional P2P trading, you will be able to choose your desired price as well as choose who you want to deal with. First in the upper left corner of the screen, you select the P2P button. On the next screen you will see a lot of information of different sellers. Some notes for you to choose a trusted seller besides competitive prices:
Only business-class sellers should be selected with a diamond icon next to their name.
Select sellers who have had many trades in the past.
Choose a seller with a high transaction completion rate (100% is optimal).
Choose a seller that gets a lot of good feedback.
You can click on the sellerâs name to find out more information. On the next screen you can enter the amount of money or crypto you want to buy and go to the payment page.
Step 2: Now for the payment part, you will have 15 minutes to transfer money to the seller before the transaction is cancelled. This part is similar to the payment part in fast P2P transactions, please refer to the instructions above to do it correctly. We reiterate two important notes:
You just click on the Transferred button after completing the bank transfer.
You take a screenshot of the payment transfer screen to send to Binance in case of dispute.
So now you can complete your crypto purchase via the Binance P2P channel. Binance is the worldâs leading exchange today and P2P transactions are free. When buying crypto you have to transfer money first, but rest assured that Binance will lock the sellerâs amount of crypto, so as long as you have completed the transfer and have proof of the transfer, you will definitely receive the amount of crypto you ordered.
D. Withdraw USDT from Binance to other wallets
From the main screen in the app select Wallet and then press Withdraw and enter USDT in the search box. On the next screen, enter the address of the wallet you want to withdraw USDT to, the blockchain network you use to send and finally the amount of USDT you want to send, then click Withdraw to complete. Next, Binance will ask you for some security passwords before transferring USDT to the address you want to your destination wallet.
Above we have presented detailed instructions for buying crypto via bank card or P2P mode. The sale of crypto to fiat is also conducted through fast or traditional P2P transactions. The process is almost the same as buying crypto except that you will receive fiat first into your bank account before you confirm for Binance to transfer your crypto to the buyer. Now you know how to buy USDT via Binance P2P and withdraw it to any wallet you want. You can also buy BNB or other common crypto in the same way.
