The first step to trading crypto on Binance is converting fiat currency to USDT. The most common method is Binance's C2C trading, where you buy USDT directly from merchants using CNY. It works like shopping online — you pay the merchant, they send you the coins. Available on both the Binance Official website and Binance Official APP. iPhone users can check the iOS Installation Guide.
What Is C2C Trading?
C2C stands for Customer to Customer — person-to-person trading. Certified merchants list buy/sell offers on Binance's C2C platform. You pay CNY to the merchant, and they transfer USDT to your Binance account. Binance acts as escrow — the merchant's USDT is locked until you confirm payment, ensuring security.
Before You Start
Your Binance account must have completed KYC verification — unverified accounts can't access C2C. You also need at least one payment method linked. Binance C2C supports bank transfer, Alipay, WeChat Pay, and more. Add your payment methods in the C2C settings.
A bank card is recommended since most merchants accept it. Alipay and WeChat are accepted by some but not all merchants.
Step-by-Step Process
Step 1: Open C2C
In the Binance APP, find "Buy Crypto" or "C2C" on the homepage.
Step 2: Select Coin and Amount
Choose USDT. Enter how much CNY you want to spend or how much USDT you want to buy. The system matches suitable merchants.
Step 3: Choose a Merchant
Review the listed merchants — each shows price, volume, and completion rate. Pick one with a reasonable price, high volume, and high completion rate. Don't just chase the lowest price; reliability matters.
Step 4: Pay the Merchant
After ordering, the merchant's payment details appear. Complete payment within the time limit (usually 15-30 minutes) via your banking app or Alipay. Double-check that the recipient name and account match exactly.
Step 5: Confirm Payment
Back in Binance, tap "I've Paid." This is critical — without confirmation, the merchant doesn't know you've paid and won't release coins.
Step 6: Wait for Release
The merchant verifies receipt and releases USDT to your Binance Funding wallet. If they don't release within the time limit, file an appeal for Binance support to intervene.
Important Notes
Don't write sensitive keywords in payment memos
Never mention crypto, Bitcoin, USDT, etc. Leave blank or write something normal. Banks may flag crypto-related keywords.
Use your own payment account
Payment must come from an account under your verified name. Merchants can refuse release if names don't match.
Never trade off-platform
Some merchants may suggest moving to WeChat or private channels for "better prices." Never do this — off-platform means no escrow protection.
Where Does the USDT Go?
C2C purchases land in your Funding wallet. To trade on spot markets, transfer USDT from Funding to your Trading wallet. Find the transfer function in the app — it's instant and free.
Q: Are there fees for C2C buying?
A: Binance doesn't charge C2C fees, but merchants' listed prices include a small markup (their profit). Prices vary between merchants — compare several for the best rate.
Q: What's the minimum purchase?
A: Each merchant sets their own minimum, but it's typically as low as a few dozen CNY.
Q: What if the merchant won't release coins after I've paid?
A: First, message the merchant through the order page. If they still don't release after the time limit, file an appeal. Binance support will verify your payment and force-release the coins. Your funds are safe throughout.