Payoneer stands out for its comprehensive global payment services, enabling individuals and businesses to effortlessly send and receive money across borders. While Binancedoesn’t directly support Payoneer, there are straightforward steps you can take to transfer funds from your Payoneer account to Binance.
In this article, we’ll outline how you can transfer funds from Payoneer to Binance, purchase Bitcoin and other cryptocurrencies using Payoneer, and more.
KeyHighlights:
- Binance’s P2P marketplace doesn’t facilitate transactions with Payoneer.
- However, you can utilize your Payoneer card to buy cryptocurrency on Binance, then use that cryptocurrency marketplace on Binance P2P.
- Several P2P crypto trading platforms allow purchasing Bitcoin with Payoneer.
- Typically, you may need to pay a premium above market price for purchasing cryptocurrency with Payoneer.
How to Transfer Funds from Payoneer to Binance?
The simplest method to transfer funds from Payoneer to Binance involves depositing funds with your Payoneer credit card to purchase crypto. Below, we provide a step-by-step walkthrough:
Step 1: Log in to your Binance account
Begin by signing in to your Binance account either through a desktop browser or the mobile app. If you don’t have a Binance account yet, you can easily create one by clicking the appropriate button. Keep in mind that completing the KYC process is necessary before accessing all of Binance’s features.
Step 2: Navigate to the Buy Crypto section
Once logged in, locate and navigate to the “Buy Crypto” section within your Binance account.
Step 3: Choose the amount of fiat currency to spend
Select your desired fiat currency and the cryptocurrency you wish to purchase. For this demonstration, let’s say you intend to buy $100 worth of Bitcoin using US dollars. Click on “Continue” to proceed to the next step.
Step 4: Input your Payoneer card details
Enter the required card details, including your name, card number, expiration date, security code, and billing address. After providing the necessary information, click “Confirm” to proceed.
Step 5: Confirm the transaction
Review the transaction details displayed in the confirmation window, including the total fiat amount, transaction fees, and exchange rate. Binance typically provides a 10-second window for confirmation to guard against potential rate fluctuations. If satisfied with the transaction details, click “Confirm” to proceed with purchasing Bitcoin and transferring funds from your Payoneer account to Binance.
How to Purchase Bitcoin and Other Crypto with Payoneer?
There are two primary methods for purchasing Bitcoin and other cryptocurrencies using Payoneer. The first approach involves utilizing your Payoneer credit card to buy crypto, as outlined above, which is arguably the most convenient method when using Payoneer.
The second method entails utilizing a peer-to-peer trading platform that facilitates direct buying and selling of cryptocurrencies between users. Notable examples of P2P crypto marketplaces where Payoneer is accepted include BitValve, LocalCoinSwap, and HodlHodl.
BitValve:
BitValve is a P2P crypto marketplace where you can buy Bitcoin with Payoneer. However, it’s essential to note that premium fees may apply, and the availability of sellers may vary.
LocalCoinSwap:
LocalCoinSwap is another P2P cryptocurrency marketplace that supports a wide range of fiat currency payment methods, including Payoneer. While premium fees apply, the platform prioritizes user privacy and employs a non-custodial design to enhance security.
HodlHodl:
HodlHodl is a P2P marketplace exclusively for Bitcoin trading, offering a non-custodial design and a reputation system to mitigate fraud risks. While fewer offers may be available, it’s worth considering purchasing Bitcoin with Payoneer.
Does Binance Accept Payoneer?
No, Binance does not natively support Payoneer as a payment method for fiat deposits. However, you can use a Payoneer card to buy cryptocurrencies on Binance indirectly.
How to Buy USDT with Payoneer?
You can purchase Tether (USDT) with Payoneer by utilizing your Payoneer card. The process involves similar steps outlined earlier for buying Bitcoin.
In Summary
Transferring funds from Payoneer to Binance is a straightforward process, primarily involving using your Payoneer card to buy crypto on Binance. Alternatively, you can explore peer-to-peer cryptocurrency marketplaces like BitValve, LocalCoinSwap, and HodlHodlto directly purchasecryptocurrencies using Payoneer.
For alternative methods of purchasing crypto, refer to our articles on buying Bitcoin with Amex and buying Bitcoin with a gift card.
