After registering on Binance, there are three main ways to make your first deposit: P2P trading, on-chain crypto deposit, and direct bank card purchase. No single method is the best for everyone. The best choice depends on what you already have and how you want to pay.
Quick summary: For beginners, P2P is the smoothest option. It has a low barrier, familiar payment methods, and you can use CNY to buy USDT directly. On-chain deposit is good if you already have digital assets. Direct bank card purchase is the easiest, but the fees are usually the highest.
The three paths
Path 1: P2P trading (recommended for beginners)
This path means you trade directly with another user, and Binance acts as a trusted middleman. It supports Alipay, WeChat, and bank transfer, so the payment method feels similar to your daily spending.
Steps to buy USDT with CNY:
Open the Binance app and tap the "P2P" entry on the home page.
In the top left, choose the fiat currency you want to pay with (such as CNY), and choose USDT as the coin.
Filter sellers: give priority to those with a 95% or higher completion rate and a "verified merchant" badge.
Enter the amount and place the order. Then transfer money to the seller's account shown in the order (Alipay/WeChat/bank transfer).
After transferring, return to the app and tap "I have paid". Wait for the seller to release the crypto.
Done when: the app shows "Order completed" and USDT appears in your Funding Account.
Risk reminder: All P2P operations must be completed inside the Binance app. Anyone who asks you to add WeChat/QQ to chat privately, or says they will only release crypto after you send a screenshot, is likely running a scam. The platform only protects on-platform transactions.
Path 2: On-chain crypto deposit (for users who already hold assets)
If you have USDT, BTC, or other crypto in another exchange or wallet, you can deposit it directly into Binance.
Steps to transfer from an external wallet:
In the Binance app, tap "Assets" → "Deposit", and choose the coin you want to deposit (for example USDT).
Choose the network (such as TRC20 or ERC20).
Copy the deposit address shown.
Paste the address in the sending platform and start the transfer.
Done when: after the required on-chain confirmations, the funds appear in your Spot Account.
Key step: The deposit network must match the network on the sending platform. For example, if you select TRC20 on Binance, the other side must also use TRC20. If you choose the wrong chain, your funds are very likely lost.
Path 3: Direct bank card purchase (most convenient, but higher fees)
You can use a linked credit or debit card to buy USDT directly through a third-party payment channel. It is fast, but the fees are usually higher than P2P.
How to buy directly with a card: on the app home page, tap "Buy Crypto", choose "Card", and follow the prompts to enter your card information and complete the transaction.
Done when: the crypto arrives within a few minutes.
Common reasons for failure
The most common stuck point in P2P is forgetting to return to the app and tap "I have paid" after transferring money. If the system does not notify the seller, they will not release the crypto. For on-chain deposits, the biggest mistake is choosing the wrong network. Assets sent on the wrong chain are like being sent to the wrong address, and the chance of recovery is very low.
Next steps
First, figure out what you already have. If you have CNY, use P2P. If you have digital assets, use on-chain deposit. For P2P, it is best to try a small amount first (100–200 CNY). Once you confirm the whole process works, you can deposit more. After the deposit arrives, go to the "Assets" page and check your USDT balance to make sure it is ready to use.
