For your first crypto purchase, choose P2P (peer-to-peer) first, not a bank card. The bank card option looks direct, but it actually goes through a third-party payment provider. Fees are usually higher and the funds do not arrive any faster. The real benefits of P2P are lower fees and flexible payment methods.
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Why choose P2P first
P2P means you trade directly with another user while the platform acts as escrow. You pay the seller, the seller confirms, and the platform releases the crypto to you. This method has a low barrier to entry, zero platform fees, and supports Alipay, WeChat, and bank transfer. It fits common payment habits well.
Buying directly with a bank card may look faster, but your money usually goes to a third party. The platform charges a 3-5% service fee, and with exchange rate loss, you receive less crypto.
Step 1: Make sure your account is verified
What to do: Complete identity verification (KYC), otherwise you cannot place a P2P order. How to do it: Open the Binance App → "Account" → "Identity Verification", then upload your ID and complete face recognition as required. Without KYC, the P2P page will ask you to verify before you can continue. Done when: The page status shows "Verified".
Step 2: Go to the P2P market and filter sellers
What to do: Find the P2P entrance and filter reliable sellers by your payment method and currency. How to do it: Open Binance App → Home → switch to the "P2P" tab. Choose your fiat currency (such as CNY) in the top left. Under "Buy", choose USDT (or another coin), then select your payment method (Alipay/WeChat/bank card). When filtering, pay attention to the seller's completion rate and completed orders. Try to choose a completion rate above 95%, a seller with past orders, and a "Verified Merchant" badge if possible. Done when: You have selected a suitable offer and entered the order page.
Risk warning: Keep all P2P actions inside the Binance App. If any seller asks you to chat on WeChat/QQ, or says to transfer money and send a screenshot for confirmation before you click "I have paid", it is a scam. The platform's escrow system only protects trades completed inside the app.
Step 3: Pay and wait for the coins
What to do: Transfer money to the account shown by the seller, then return to Binance and click "I have paid". How to do it: After confirming the order, copy the seller's payment account shown on the order page, and send the payment with your chosen Alipay/WeChat/bank app. Then go back to Binance App and tap "I have paid". Wait for the seller to confirm the payment and release the crypto. It usually takes a few minutes. Done when: You receive an app notification saying "Order completed", and USDT appears in your Funding Wallet. You can then go to the spot trading area to buy BTC.
Common reasons for failure
Many people forget to return to Binance and click "I have paid" after sending money. The seller does not receive a system notification, so releasing the coins is delayed. Another common mistake is using the wrong payment method. If the order page says Alipay but you pay by bank transfer, the seller cannot match the payment and may refuse to release the coins.
The world's largest cryptocurrency exchange by trading volume,leading in security and liquidity.
New user benefit: Enjoy 20% off trading fees upon registration!
Next steps
After you receive USDT, go to the "Spot" page and place a limit order to buy BTC at your target price. The trading fee is a fixed 0.1%. If you do not want to watch prices, you can use "Express Buy" with a bank card, but remember that the fee is higher than P2P — decide based on your own trade-off.
