Knowing how to deposit on Binance is tricky, we know. But once you finish the thorough instructions below, you no longer have to get lost in the sea of crypto network.
Let’s begin!
Binance App
Depositing your crypto via the Binance application is pretty easy for those who don’t have already installed Binance App on their Android devices.
- First of all, go to Play Store and search for Binance and download the official application or visit the website to download the app directly from there.
- Once you have the application, the next step is to register an account.
If you already have an account, then follow these below steps to deposit your crypto via the application. Let’s start!
- Choose the deposit address on Binance
- Choosing the deposit address is the first step to deposit on the exchange.
- Log in
- First of all, open your application and log in to your account by adding your login credentials on the Binance App.
- Go to Deposit
- Once logged in, the next step is to go to your Wallets section by navigating through the bottom menu.
- Click on the Deposit icon.
- Select Crypto
- As soon as you click on deposit, a list of supported cryptocurrencies will appear.
- Now, whatever cryptocurrency you want to deposit, search for it via the Search bar or scroll down to find it.
- And then tap on it.
- Choose Network
- When you tap on your desired cryptocurrency, a new pop-up will appear asking you to Choose Network.
- For those who don’t know what networks are, these networks are blockchains where each transaction is validated to ensure security and tackle fraudulent behavior.
- Some of the popular networks are given below.
- BEP2
- BEP2 is a standard term used for the process that assures the issuance and implementation of tokens on the BNB Beacon Chain.
- BEP20
- BEP-20 is the BNB Chain token standard that supports smart contracts and aims to extend the ERC-20.
- Both BEP2 and BEP20 are Binance Chain protocols, but they are different from each other.
- BEP2 protocol is used for native transactions, while on the other hand, BEP-20 is used for smart contracts and allows anyone to create a token on the network with ease.
- ERC20
- ERC-20 is an Ethereum blockchain protocol that supports smart contracts and allows users to make transactions.
- But due to network conjunction, the gas fees of the ERC-20 standard protocol can be high compared to BEP-20 and BEP2.
- TRC20
- TRC-20 is a Tron Blockchain protocol used for managing and issuing tokens on the Tron network.
- BEP2
- Copy and paste the Binance address
- So, select whatever chain you like.
- Once you do that, a new page with QR Code and Wallet Address will appear.
- Click Copy on Binance
- Now click on Copy Address in order to copy your wallet address.
- Go to the withdrawing platform or wallet
- Once you have copied your address, the next step is to go to the application or wallet from where you are going to make a deposit to your Binance account.
- By navigating through the wallet/exchange, choose to withdraw
- Make sure the asset you are withdrawing is on the same network that you selected earlier in your Binance app.
- Paste the address
- Now, paste the copied address in the required withdrawal address field
- Enter the amount you are willing to withdraw.
- Confirm withdraw
- After that, double-check all the information.
- Confirm your withdrawal by clicking on the Withdrawal/Send option.
- Check added balance on Binance
- Once a transaction is successfully made, don’t forget to first check out on the blockchain explorer to ensure it is validated or not.
- Wait for seconds.
- If not, depending upon the network conjunction.
- Then go to your Binance account and check your balance.
- Once validation of a transaction is completed on Blockchain, the transaction will reflect on your Binance wallet balance sheet.
Since 2021, Coin Labs have been assigned a fee discount code from Binance. Thus, if you sign up for Binance through Coin Labs, you can benefit from the fee discount and participate in the bonus event earning up to $500.
Binance website
The method of depositing on Binance via the website is pretty much similar to the application, but because of layout differences between the site and application, navigation can be slightly different. If you haven’t used the exchange’s website before, then follow our below step-by-step guide on how to deposit on Binance via its website.
- Choose the deposit address on Binance
- Just like with the application process, the first step is to copy the deposit address on Binance.
- For that, we have to log in to our platform account.
- Log in
- In order to log in, visit the official website of the exchange, and from the header menu, click on Login
- You will be redirected to a sign-in page.
- Now, input your credentials details and then click on Sign In to log in to your account.
- Go to Crypto Deposit
- Once you are logged in, now, go to the Crypto Deposit section by navigating through the wallet feature of the website.
- Select coin
- Now, select cryptocurrency out of tons of options available on the exchange and then tap on it.
- Select network
- As soon as you tap on the crypto, it will ask you to Select Network.
- Now, here select the network out of plenty of supported networks.
- Some of the popular supported networks are given below.
- BEP2 – BNB Beacon Chain
- BEP20 – BNB Smart Chain (BSC)
- ERC20 – Ethereum Request for Comments 20
- TRC20 – TRON network Chain
- Click to copy the deposit address
- Once you have selected the network, a new page will appear containing QR Code and Wallet Address.
- Now, click on Copy Address to copy your deposit address.
- Copy & paste the Binance address
- After copying the address of the deposit from the exchange, the next step is to visit the wallet/platform from where you are going to deposit crypto to your Binance account.
- Open the withdrawing platform or wallet
- Once you have opened the platform where we are going to withdraw from, similar to how we did with Binance, search for respective tokens.
- Go to Withdraw
- After finding the token, tap on it and click on Withdraw/Send, whatever option the platform/wallet has.
- Paste the copied address
- Once you do that, it will ask you to enter your copied address and the amount you are willing to withdraw.
- Paste the address that we previously copied and then enter the amount.
- Confirm withdraw
- After that, double-check all details and confirm your withdrawal.
- Check added balance on Binance
- Now, wait for a few seconds so the transaction can get validated on the Ethereum blockchain.
- Once a transaction is validated, the deposited amount will automatically be added to your Binance wallet.
FAQs
How long does confirmation take on Binance?
There is no delay in Binance confirmation. Every time when a transaction is made, it goes through the blockchain validation process. Once a transaction is validated in the blockchain, it automatically reflects on Binance. The validation time varies depending on the network you choose and the “priority.”
How much is the Binance deposit fee?
For all crypto deposits, including Ethereum, Bitcoin, Tron, and more on Binance, there is zero deposit fee.
How to deposit in Binance?
The Binance deposit process is pretty simple. First of all, select cryptocurrency, then copy an address and send any amount of supported cryptocurrency to the copied address.
