Taiwanese users investing in virtual currencies should note the "Anti-Money Laundering Registration Rules for Virtual Asset Service Providers" issued by the Financial Supervisory Commission. Always choose secure and reliable exchange platforms!
This guide covers five methods to deposit funds and buy cryptocurrencies on Binance:
- Credit/Debit Card Purchases
- Wallet Transfers
- C2C Trading
- Bank Transfers
- Third-Party Payments
We'll explore each method in order of transaction fees and complexity.
About Binance
Binance is one of the world's largest digital currency exchanges by trading volume, offering:
- 600+ cryptocurrencies (BTC, ETH, USDT, etc.)
- 24-hour trading volume exceeding $70 billion
- Global market access
👉 Open a Binance Account with 20% Lifetime Rebate
Method 1: Credit/Debit Card Purchases
Best for: Beginners
Processing Time: Instant
Fees: ~2.5%
How to Buy:
- Log in to Binance → Click "Buy Crypto" → Select "Credit/Debit Card"
- Enter amount (TWD 500-270,000 per transaction)
- Add payment card details
- Complete OTP verification
- Cryptocurrency appears in your wallet instantly
Pro Tip: Use cashback cards to offset fees. Recommended cards include:
- Taishin FlyGo
- E.Sun Pi Card
- Cathay Asia Miles
Method 2: Wallet Transfers
Best for: Users with existing crypto assets
Fees: None
Processing Time: 1-3 minutes
Transfer Steps:
- Navigate to "Wallet" → "Spot Wallet"
- Select cryptocurrency → Click "Deposit"
- Choose network (ERC-20/BEP-2)
- Copy Binance deposit address to sender wallet
- Confirm transfer
Warning: Always double-check addresses and network types!
Method 3: C2C Trading
Best for: Peer-to-peer transactions
Fees: None
Processing Time: Varies
How It Works:
- Complete identity verification
- Select seller with high completion rate
- Choose payment method (Bank Transfer/LINE Pay/etc.)
- Send payment and confirm receipt
- Transfer to spot wallet for trading
👉 Secure Your Transactions with Verified Sellers
Method 4: Bank Transfers
Best for: Large deposits (>$10,000)
Fees: ~$20 wire fee
Processing Time: 2-3 business days
USD Deposit Process:
- Use Binance's USD deposit instructions
- Include MEMO code for identification
- Wait for funds to convert to BUSD
Method 5: Third-Party Payments (PAXOS)
Best for: Alternative payment solutions
Fees: 3-4%
Processing Time: Instant-3 days
Steps:
- Create PAXOS account
- Deposit USD → Auto-converts to BUSD
- Transfer to Binance via ERC-20
FAQs
Q: Which method is fastest?
A: Credit card purchases and C2C trades are instant.
Q: How to minimize fees?
A: Use wallet transfers (0%) or offset card fees with cashback.
Q: Is identity verification required?
A: Yes for C2C trades and withdrawals over certain amounts.
Q: Can I set up recurring purchases?
A: Yes! Binance offers scheduled buying (TWD 500-55,000).
Q: What's the minimum deposit?
A: Varies by method - from TWD 500 (cards) to $10,000 (bank transfers).
Key Takeaways
| Method | Best For | Fees | Speed |
|---|---|---|---|
| Cards | Beginners | 2.5% | Instant |
| Wallet | Crypto Holders | 0% | 1-3min |
| C2C | P2P Lovers | 0% | Varies |
| Bank | Large Amounts | $20 | 2-3d |
| Third-Party | Alternatives | 3-4% | Instant-3d |
For most users, we recommend starting with card purchases or wallet transfers before exploring other options.
👉 Start Trading with Binance Today
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