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Binance continues to be one of the most popular cryptocurrency exchanges in the world, despite regulatory changes and restrictions on operating in Russia. The process of funding an account on Binance in 2024 can bring some difficulties, but there are several ways to deposit funds, which we will discuss in detail in this article.
Binance funding options
There are fewer ways for Russians to deposit funds to this exchange after the introduction of a number of restrictions compared to its smaller competitor Bybit, but they are there, let's take a closer look at each of them:
By credit/debit card
Go to the “Buy Cryptocurrency” section
On the platform's homepage, find and select this section.
Select “Credit/Debit Card.”
You will be prompted to enter the top-up amount and select the currency.
Selecting a cryptocurrency to buy
Specify the desired cryptocurrency, for example, USDT or BTC.
Add card
Enter your card details (expiration date, CVV code, card number).
Confirm payment
After verifying the data, complete the transaction. The funds will arrive to your exchange account within a couple minutes to an hour.
Note:
At the time of writing this method of replenishment is not available, but will be relevant if in the future the restrictions on Russian payment means will be removed.
Limits: check at the data entry stage.
Funding via AdvCash
AdvCash is a popular payment system integrated into Binance's P2P platform.
Sign up for AdvCash
Create an account and verify.
Fund AdvCash
Use a bank transfer or card.
Transfer funds to Binance
Under Fiat Deposits, select AdvCash and follow the instructions to complete the payment.
Note:
Commission: minimal or none.
Speed: funds arrive almost instantly.
Funding via fiat deposit
Funding your Binance account via fiat deposit is one of the most convenient ways to deposit funds to buy cryptocurrency. However, due to various regional restrictions and availability of methods, the procedure is not available in Russia through many methods. Let's take a look at the process of depositing and key aspects.
Authorize on Binance
Open your Binance account. If you don't have an account, register and confirm your details with identity verification. This is a mandatory step for working with fiat currencies.
Open the “Deposit to account” section
On the home page, select the “Wallet” tab, then go to the “Fiat and Spot” section. Select the “Deposit” function.
Select currency
Specify the currency in which you want to make a deposit. For example, if you are using rubles, select RUB.
Select the deposit method
Binance will offer several options including:
Bank transfer.
Use of third-party payment systems (e.g. AdvCash or Payeer).
Transfers via SWIFT/SEPA systems for international transactions.
Get transfer details
After selecting the funding method, you will be provided with the details. This can be a Binance bank account registered in the system, or an email address of the service to transfer funds.
Make the transfer through your bank or app
Go to your bank or mobile app and make a transfer to the details provided. Make sure that all data is entered correctly to avoid delays.
Confirm the transaction on Binance
If required, upload a confirmation of the transfer to the Binance system. This is usually not necessary, but it can be helpful in case of delayed funds.
Wait for the funds to be credited
Funds arrive in your account depending on the method you chose. For local wire transfers, processing times range from a couple minutes to a few hours. International transfers can take up to 1-3 business days to process.
Commissions and limits
Fees
Bank transfer: in most cases there is no commission, but your bank may charge a fee for outgoing transfers.
Third-party services (AdvCash, Payeer): commission varies between 0-3%.
2. Limits
The minimum deposit amount is often $10 or equivalent in the chosen currency.
The maximum amount depends on the verification level of your account.
Note
Due to regulatory changes in Russia, the availability of direct ruble deposits (via banks and payment systems) is temporarily limited.
Buying cryptocurrency via P2P
Open the “P2P on Binance” section
Select the “P2P Trading” tab.
Find a suitable listing
Filter sellers by payment method, amount and rating.
Make a transaction
Specify the purchase amount, pay using the selected method and confirm the transfer on the platform.
Receive funds to your account after payment confirmation.
Note:
Russian payment services are not available.
Commission: none for the buyer.
High security thanks to escrow system.
Buying cryptocurrency with Bestchange
Step-by-step instructions on how to fund Binance via BestChange:
1. Register on Binance
2. Determine which cryptocurrency you want to use for your deposit
Select the cryptocurrency you will be transferring to Binance.
3. Go to the BestChange website
4. Customize your exchange search options
On the left side of the “Giving” column, select a payment method, for example:
Bank card (Sberbank, Tinkoff, VTB, etc.).
Electronic wallets (QIWI, Payeer, etc.).
Cash.
In the “Receive” column, select the cryptocurrency you want to send to Binance (for example, USDT TRC-20).
BestChange will show a list of exchangers that work with your request, organized by exchange rate.
5. Select the appropriate exchanger
Pay attention to:
Exchange rate (the lower, the more favorable).
Reserves (so that the amount is enough for your replenishment).
Rating and reviews (prefer exchangers with positive reviews).
Speed of transaction processing.
6. Go to the site of the selected exchanger
Click on an exchanger from the list and BestChange will redirect you to its official website.
7. Enter your Binance credentials
Go to your personal Binance account.
Open “Wallet” → “Wallet Overview” → “Deposit”.
Select a cryptocurrency (for example, USDT).
Specify the desired network (e.g. TRC-20).
Copy the address of your wallet.
8. Complete the operation on the exchanger's website
Enter the amount you want to exchange.
Enter the address of the Binance cryptocurrency wallet copied earlier.
Fill in the payment details (card, wallet, etc.).
Confirm the transaction.
9. Wait for the transaction to be completed
After payment, the exchanger will send the crypto assets to your Binance exchange address. This process takes from a couple minutes to an hour depending on the network load level and the conditions of the exchanger.
Transfer between user accounts
Get the recipient's wallet address
Ask a friend or colleague to share their Binance wallet address.
Make the transfer
Enter the address, specify the amount and confirm the transaction.
Features:
No fee within Binance.
Suitable for quick transfers between people you know.
Transfer between your exchange accounts
After funding your account with cryptocurrency, the funds will go to the Deposit account, which is located in the Wallet section, from there they can be transferred to one of the wallets for trading by going to the Transfer tab, selecting the necessary wallet, coin and amount.
What are the fees and limits on the Binance exchange
Deposit
Commission for bank cards: 1-3%.
For P2P transfers and some methods, such as AdvCash, there is no commission.
Withdrawals
Fiat funds: fixed or percentage fee depending on the method.
Cryptocurrencies: depends on the type of network used (for example, USDC withdrawal fee on Ethereum network may be higher than on Solana network).
Deposit limits
Limits depend on the method and level of account verification. They are much lower for non-verified users
Conclusion
Although Binance 2024 provides fewer ways for Russians to fund their accounts, there are still plenty of alternative and convenient ways to fund their accounts. Each of these methods has its own peculiarities, commissions, and restrictions that should be taken into account before using them. Whether it's buying cryptocurrency from a card, P2P transactions or using third-party services, you will always find a way that suits your needs and capabilities.
FAQ
1. Can I deposit to Binance without verification?
Yes, but deposit and withdrawal limits will be severely limited.
2. What is the most profitable way to deposit?
Transfers between Binance exchange accounts or using AdvCash have low fees and are available for residents of Russia.
3. What cards are accepted for funding Binance?
Visa and Mastercard cards are supported, but restrictions depend on the issuing bank.
4. How long does it take to process a deposit via bank transfer?
Usually it takes up to 1 business day, but often within an hour or less.
5. Is there a commission when using P2P?
There is no commission for the buyer, commissions are possible from the payment services used.
