How to Deposit Crypto
Let’s use 10 USDT to illustrate how to transfer crypto from an external platform into your Binance account.
1. Log into your Binance account and go to your wallet overview page.
2. Click on [Deposit] at the top right side of your screen.
3. Select [Deposit Crypto].
4. Select the cryptocurrency you want to deposit. In this example, we will deposit USDT.
5. Next, choose the deposit network. Make sure the selected network corresponds with the network of the platform you are withdrawing funds from.
Be careful! If you select the wrong network, you will lose your funds.
Summary of network selection:
- BEP2 relates to the Binance Chain.
- BEP20 relates to the Binance Smart Chain (BSC).
- ERC20 relates to the Ethereum network.
- OMNI refers to the OmniLayer that runs on the Bitcoin network.
- TRC20 relates to the TRON network.
- BTC refers to the Bitcoin network.
- BTC (SegWit) refers to Native Segwit (bech32), and the address starts with “bc1”. Users are allowed to withdraw or send their Bitcoin holdings to SegWit (bech32) addresses. For more details, please refer to Segregated Witness (SegWit) FAQ.
6. In this example, we will withdraw USDT from another platform and deposit it into Binance. Since we are withdrawing from an ERC20 address (Ethereum blockchain), we will select the ERC20 deposit network.
- The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal from.
- If the external platform only supports ERC20, you must select the ERC20 deposit network.
- DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
- For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you will lose your funds.
7. Copy the deposit address provided by Binance and paste it on the corresponding platform’s address section (where you intend to withdraw your funds from).
8. After confirming the withdrawal request, you have to wait until the transaction is confirmed. The confirmation time varies depending on the blockchain and its current network traffic.
Please, wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.
9. You can check the [Transaction History] page for more information on your recent transactions.
How to Deposit Money
How to Deposit Money for example, EUR, GBP, etc., via Bank Transfer (SEPA)
Select [Bank Deposit] under the [Buy Crypto] tab.
Select the corresponding currency, enter the amount, and click [Continue].
Get detailed payment information.
Complete Deposit to your account.
