Last time, I wrote a tutorial for beginners, "Beginner's Guide — — How to Deposit and Withdraw on Binance"https://www.binance.com/zh-CN/square/post/9050933316338, which received a lot of attention. That article mainly described how to deposit or withdraw cryptocurrencies from an external crypto wallet to the Binance exchange platform. Many newbie friends hope that I can talk about how to convert fiat currency and cryptocurrencies on the Binance platform through the C2C method, that is, how to use fiat currency to buy cryptocurrencies such as $BTC , BNB, ETH, USDT, and how to sell these cryptocurrencies for fiat currency. Today I will teach you.
Necessary conditions for conducting C2C transactions on Binance:
1. Register a Binance account: https://www.binance.com/zh-CN/join?ref=23279581
2. Verify your identity through Binance account KYC.
3. Prepare your own bank card, Alipay, WeChat and other payment methods.
Once you are ready, let’s take action:
1. Log in to the Binance App and click More on the homepage as indicated by the red arrow in the picture below:
Click on the C2C indicated by the red arrow in the picture below to buy coins:
At this time, an important reminder will pop up as follows. Please note that in order to protect user safety, all cryptocurrencies purchased on Binance C2C now comply with the T+1 rule, which means that you have to wait one day after purchase before you can withdraw them, to prevent bad guys from using black money to buy coins for money laundering. Check the box to agree and click Confirm:
Generally, the default entry is in the West Zone, which is a bit complicated for novices, so I suggest that novices start with the simplest quick zone transaction. Click on the self-selected zone indicated by the red arrow in the figure below:
In the pop-up menu, select Switch to Quick Zone:
It is super easy to exchange fiat currency for cryptocurrency in the quick zone, as shown in the figure below. You only need to select the cryptocurrency you want to buy here, the default is USDT, and enter the fiat currency amount to purchase. The smallest unit is 72 yuan. We click 100×, which means we want to buy 7200 yuan, and then click the 0 fee purchase below, which will call up the payment method you set before, and you can choose to pay with a bank card, Alipay, or WeChat.
Conversely, if you want to sell cryptocurrency for fiat currency, just click on the "I want to sell" button in the picture below, select the currency and quantity you want to sell, and click on "Sell". If your account balance is insufficient, you will be prompted to transfer funds from other accounts.
So far, novices have mastered the most basic method of exchanging fiat currency for cryptocurrency through C2C on the Binance platform. It seems simple, and it is actually that simple.
Please note that quick transactions are selected based on your transaction amount and payment method, and there may be a price difference between the actual matching transaction price and the reference quotation.
Of course, if you are trading a large amount, it is recommended that you learn the advanced trading methods in the self-selected area. You can find the trading object that suits you according to your needs. The method is not complicated. Binance provides you with a detailed video operation tutorial. You can click the red arrow in the figure below to enter the C2C Help Center: "1. How to buy and sell digital currency?"
As shown in the figure below, the C2C Help Center provides video tutorials. You can watch the two video tutorials "How to buy digital currency?" and "How to sell digital currency?" The explanations are all in Chinese and are very detailed and easy to understand.
Tips:
1. When receiving payment, please do not blindly trust the SMS message. Be sure to open the payment account to check the amount. Avoid SMS fraud and losses. Some buyers will send fake SMS messages to sellers. If the seller releases the coins without opening the payment account to check, he will suffer losses.
2. Antifreeze Card Guide:
◆When transferring money, please do not note sensitive information, such as digital currency, Bitcoin, BTC, USDT, ETH, etc.
◆When you need to sell digital currency frequently, do not use only one bank card, you can prepare multiple cards for rotation. Use multiple payment methods flexibly.
◆If your bank card is frozen, please contact your bank directly and provide your relevant information as required by the bank (generally explaining the reason for the fund flow).
◆When trading in the self-selected area, try to actively trade with large merchants who have completed a large number of orders and a high order completion rate.
◆Do not cash out in small amounts frequently, reduce the frequency of cashing out, and try to cash out during specific time periods. Transfers will be smoother between 10 am and 3 pm on weekdays.
In addition, I will teach you a trick:
Click on the yellow currency symbol in the post (eg$BNB ) can buy and sell spot directly. Click on the rectangular currency price chart below the yellow currency symbol or at the end of the article to directly trade contracts. You can try it, it is really convenient.
