How to Deposit with CNY on Binance

After signing up for Binance and completing KYC, you can buy crypto with CNY. Download the Binance APP for a smoother experience. Binance supports several CNY deposit methods, with C2C (peer-to-peer) trading being the most popular. Our site walks you through every step.

Main CNY Deposit Methods

On Binance, the main ways to buy cryptocurrency with CNY are:

C2C/P2P Trading (Most Recommended): Trade CNY directly with merchants for cryptocurrency
Third-Party Payment: Purchase through partner service providers
Bank Transfer: Some methods support direct bank transfers

C2C trading is the most commonly used and lowest-cost method. Here's a detailed walkthrough.

What Is C2C Trading?

C2C (Customer to Customer), also called P2P (Peer to Peer), is peer-to-peer trading. Simply put, you trade directly with another user:

You pay CNY to the seller (via Alipay, WeChat Pay, or bank transfer)
The seller releases cryptocurrency (usually USDT) to you
Binance acts as the middleman ensuring transaction security (similar to escrow services)

Step 1: Go to the C2C Trading Page

On the APP

Open the Binance APP
Tap "Trade" at the bottom
Select "C2C" or "P2P"

On the Web

Log in to the Binance website
Hover over "Buy Crypto" at the top
Select "C2C Trading"

Step 2: Set Your Purchase Parameters

On the C2C page, configure:

Buy/Sell: Select "Buy"
Coin: Select USDT (recommended for beginners — it's a stablecoin pegged to the US dollar)
Amount: Enter how much CNY you want to spend (minimum usually about 10 CNY)
Payment Method: Filter by your preferred method (Alipay/WeChat/Bank Transfer)

Step 3: Choose a Merchant

The page displays multiple merchants' offers. When choosing, consider:

Price: Select the merchant with the best rate
Volume: Prioritize high-volume merchants (indicating good reputation)
Completion Rate: Choose merchants with 98%+ completion rate
Limits: Ensure your amount falls within the merchant's range
Badge: Prioritize "Verified Merchant" sellers

Once you find a suitable merchant, tap "Buy USDT."

Step 4: Confirm the Order

The system displays order details:

Purchase quantity
Unit price
Total amount
Payment method
Payment time limit

Confirm and tap "Place Order." A timer starts (usually 15–30 minutes) within which you must complete payment.

Step 5: Pay the Merchant

After placing the order, the page shows the merchant's payment details:

If Using Alipay

Copy the merchant's Alipay account
Open Alipay
Transfer the specified amount
Amount must match exactly

If Using WeChat Pay

Copy the merchant's WeChat payment details
Open WeChat to transfer
Amount must be exact to the cent

If Using Bank Transfer

Get the merchant's bank account details
Transfer via mobile banking
Amount must match exactly

Important Reminders:

Payment amount must match the order amount exactly
Do not write anything related to cryptocurrency in the payment memo
Use a payment method registered under your own name

Step 6: Confirm Payment

After completing payment, return to the Binance APP:

Tap the "I've Paid" button
Wait for the merchant to confirm and release coins
Merchants typically release within minutes
USDT will appear in your C2C wallet

Step 7: Transfer USDT to Your Spot Wallet

USDT from C2C goes to your "Funding Wallet." To trade, transfer to "Spot Wallet":

Go to "Wallet" → "Transfer"
From "Funding Account" to "Spot Account"
Select USDT and enter the amount
Confirm (free, instant)

After registering for Binance and completing these steps, you've successfully deposited with CNY.

FAQ

Does C2C trading have fees?

Binance does not charge C2C trading fees. However, merchant prices may be slightly above market rate — this spread is the merchant's profit margin.

What if the merchant doesn't release coins after I pay?

If the merchant doesn't release within the time limit:

Contact the merchant via the order page chat
If no response, tap the "Appeal" button
Binance support will intervene to resolve the issue

What's the minimum purchase amount?

Most merchants' minimums range from 10–100 CNY, depending on each merchant's settings.

Can I use the USDT to buy BTC directly?

Yes. Transfer USDT to your spot wallet, then search for BTC/USDT on the spot trading page.

Is C2C trading safe?

C2C trading on Binance is safe. The escrow mechanism locks the seller's cryptocurrency, ensuring you receive coins after payment. Always trade within the platform — never trade privately.

Security Tips

When depositing with CNY, pay special attention to:

Never write "Bitcoin," "USDT," "cryptocurrency" in payment memos: This may trigger bank risk controls
Use payment methods under your own name: Don't use someone else's account
Never trade outside the Binance platform: Scammers may lure you elsewhere
Confirm coins received before ending the order: Don't cancel prematurely
Choose reputable merchants: Prioritize high-volume, well-rated sellers