Payoneer is known for its global payment services, enabling individuals and businesses to send and receive money worldwide. While Binance doesn’t support Payoneer directly, you can still transfer money from your Payoneer account to Binance in a few easy steps.
In this article, we are going to show you how you can transfer money from Payoneer to Binance, how you can buy Bitcoin and other crypto with Payoneer, and more.
How to transfer money from Payoneer to Binance?
The easiest way to transfer money from Payoneer to Binance is to deposit funds with your Payoneer credit card to buy crypto. Here is a step-by-step guide on how to do it.
Step 1: Sing into your Binance account
Start by signing into your Binance account via a desktop browser or mobile app. If you don’t have a Binance account, you can open a new account by clicking on the button below. Keep in mind that you’ll need to complete a KYC process before you can use all of Binance’s features.
Step 2: Buy crypto with a credit card
Select the “Credit/Debit Card” option from the “Buy Crypto” drop-down menu on the Binance homepage.
Step 3: Enter the amount of fiat currency you want to spend
Select the fiat currency you want to use and pick the cryptocurrency you want to purchase. For the purposes of this guide, we’ll be buying $100 worth of Bitcoin with the US dollar. Click “Continue” to proceed.
Step 4: Enter your Payoneer card details
Provide the relevant card details, including your name, card number, expiration date, security code, and address. Click “Confirm” to proceed.
Step 5: Confirm the transaction
You’ll be presented with a confirmation window that displays your order’s details, including the fiat total, the among of transaction fees, and the exchange rate.
In the case of Binance, you’ll have 10 seconds to confirm your transaction. The short time window is meant to guarantee against any rate changes that could occur before the order is confirmed. Otherwise, you’ll need to repeat the process.
If you are content with your order, click “Confirm” to buy Bitcoin and thus transfer funds from your Payoneer account to Binance.
How to buy Bitcoin and other crypto with Payoneer?
There are two ways of buying Bitcoin and other crypto with Payoneer. The first method is to use your Payoneer credit card to buy crypto (described in the steps above), which is arguably the most convenient way of investing in Bitcoin and other cryptocurrencies when using Payoneeer. The second method is, a peer-to-peer trading platform that allows users to buy and sell cryptocurrencies directly with each other. Prominent examples of P2P crypto marketplaces include Binance P2P, KuCoin P2P, and LocalBitcoins.
In order to buy Bitcoin and other crypto with Payoneer on Binance P2P, you’ll first need to log in to your Binance account and navigate to the Binance P2P marketplace. After finding a seller that has a good rate and positive reviews, you can proceed to use Payoneer to make the transaction. Keep in mind that using Payoneer as a payment method will depend on the seller and whether they accept payments made with Payoneer.
Does Binance accept Payoneer?
No, Binance does not accept Payoneer as a payment method natively, which means that you cannot transfer fiat from Payoneer to Binance directly. However, you can use a Payoneer card to buy cryptocurrencies on Binance.
How to buy USDT with Payoneer?
You can buy Tether (USDT) with Payoneer by using your Payoneer card. You can find a step-by-step guide on how to buy crypto with Payoneer in the section above if you want to go the Binance to Payoneer route. You can also use Binance P2P with Payoneer and buy USDT
The bottom line
Transferring money from Payoneer to Binance is a relatively simple process. By following the step-by-step guide, you can easily use your Payoneer funds to buy crypto, either via Payoneer card or directly via Payoneer on the Binance P2P marketplace.
If you are looking for other methods of buying crypto, check our articles on how to buy Bitcoin with Amex and how to buy Bitcoin with a gift card.
Read More: Transfer Money from Payoneer to Binance P2P (Easy 2023)