Can I use CNY to buy altcoins on Binance?

3 answers

• Jerry BrysonMay 24, 2023 · 3 years ago
  Unfortunately, Binance does not support direct trading between CNY and altcoins. Binance primarily operates with major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). To buy altcoins on Binance, you'll need to first acquire one of these major cryptocurrencies and then trade them for the altcoin of your choice. There are several ways to acquire these major cryptocurrencies, including purchasing them with CNY on other exchanges and transferring them to your Binance account.
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• Daniel Zanotti da SilvaJan 16, 2023 · 3 years ago
  No, Binance does not currently offer the option to buy altcoins directly with CNY. However, you can still buy altcoins on Binance by following a few steps. First, you'll need to convert your CNY into a major cryptocurrency like Bitcoin or Ethereum on another exchange that supports CNY trading. Once you have the major cryptocurrency, you can transfer it to your Binance account and then trade it for the altcoin you want. It's important to note that there may be fees associated with these transactions, so make sure to consider that when planning your purchases.
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• JsonJsonJsonMar 22, 2024 · 2 years ago
  While Binance doesn't directly support CNY trading, you can use BYDFi, a digital currency exchange that does offer CNY trading, to buy altcoins with CNY. BYDFi allows users to deposit CNY and trade it for various cryptocurrencies, including altcoins. Once you have the altcoins in your BYDFi account, you can transfer them to your Binance account if you prefer to keep your altcoins there. Keep in mind that BYDFi and Binance are separate exchanges, so you'll need to create accounts on both platforms to complete the process.
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