miercuri, 20 ianuarie 2021

How to transfer money from Bank to Binance Exchange?

This is not a financial advice and you should follow the below steps only if you are fully aware of what you are doing. This tutorial will teach you just how to transfer funds from an app to another, the amount, when and if you should send, is your decision. 

In this article I will explain how you can transfer money from your Revolut account or any other Bank account, to your Binance trading account (they will enter in the Spot actually). There are actually two ways of doing it. One directly with your credit or debit card, and the other one by Bank transfer (SEPA).  

First of all, you have to have a bank account and an Binance account :) If you do not have already, you can use my referral id and get 10% discount on your trading fees. Here it is : https://www.binance.com/en/register?ref=NRHIGSSB but I guess once you are reading this article, you already have both 😅.

 I have taken some screenshots where you can easily follow the steps and transfer funds from you Bank account to Binance, without any fees.

If you want to use the Bank transfer (from Revolut the transfer takes few minutes, for other banks might take longer or few days), below is a tutorial : 

1. Open the Binance Application. Go in the right-lower corner of the screen (for application) or right-upper one for the website. Press on the Wallet. 
2. Press on the Deposit button 
3. Choose FIAT tab 
4. Select the currency that you have in your Bank account and you want to transfer to Binance. 
5. Choose Bank Transfer (SEPA) 
6. Select the amount that you are willing to send. 
7. Press Continue 
8. That should be your real name and it will be the exact name as on your Bank account 
9. Confirm that you will send money from a Bank account which has you name. 
10. Payment details : Receiver should be Binance and there is the IBAN which you will have to fill up in the step Nr. 16 
11. The Reference code has to be filled in the step Nr. 21 We have finished with Binance. 

Now you will have to move to your Bank App (or Revolut).

12. Open the Revolut app (or any other Bank) and choose the currency that you want to transfer. 
13. We have to create a recipient and for this we have to Press Send button. 
14. Choose Bank Accounts tab 
15. Press on Add recipient 
16. I could not take a screenshot (the app did not allow me). Choose Business tab and fill up the fields. In my case, Binance gave me a GB (United Kingdom) IBAN in step Nr. 11 so from there I know what country to choose, then you will select the currency, then the IBAN (from step Nr. 11), Company Name : Binance 
17. Press Add Recipient to have Binance as receiver. 
18. Go back to Home Menu and Press Send button. 
19. Select Bank Accounts tab and choose Binance from that list. 20. Fill up with the amount that you are willing to transfer
21. Delete the "Sent from Revolut" text and write the Reference Code from step Nr. 11
22. Press send button.

The second way is to buy directly with the credit or debit card the cryptocurrency that you want, for example Bitcoin.
For that we have the below steps:

A. Open the Binance app and on the home page select Credit\Debit Card.
B. Choose the currency and fill up with the amount of money that you want to buy Bitcoin or any other crypto token
C. Press continue button
D. Fill up with the information from the card (do no share with no one these information other than websites and applications that are secured, otherwise smart hackers can empty your bank accounts).
E. Press next

I cannot show you what's the final step because I would have to do a real transfer for that, but I guess it is to confirm your info and Billing Address.

Trading can be risky, so be careful what you are doing with your money. First you Learn and then you remove the L!

Good luck! 

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