New news in 2024, Binance supports the service of buying coins by swiping a credit card in Taiwan. If you want to deposit money by swiping a credit card, or directly swipe a card to buy cryptocurrency, the steps are very simple.
Based on actual testing and information on the Internet, this article has compiled the credit cards supported in 2024, as well as step-by-step instructions, to provide reference for netizens who want to deposit money or buy virtual currency.
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2024 Tutorial on how to buy coins with a credit card on Binance
First open the Binance App, click "Add Funds" on the homepage, and select "Buy Coins with TWD":
Then, in the payment method, click "Card (VISA/Mastercard)". Here you need to add a supported credit card. The credit cards that support Binance card purchases are listed at the bottom of this article. You can slide to the bottom for reference.
You can then directly choose to purchase USDT, BTC or other cryptocurrencies here. You only need to pay attention to the transaction fees and the exchange rate of the virtual currency when swiping your card.
As you can see in the picture above, the exchange rate of USDT is around 34.51 (according to the exchange rate at the time of writing). Please pay attention to whether the exchange rate here is acceptable.
Compared with swiping a credit card to buy coins, another common way to deposit money in Taiwan is through Taiwan's exchanges. However, USDT on Taiwan exchanges is often at a premium, so you can compare the two sides to see the price difference.
The pros and cons of buying coins with a credit card on Binance
Buying cryptocurrencies directly with a credit card on Binance has the following advantages and disadvantages:
Advantages of buying coins with a credit card on Binance: the simplest, one-stop process (no need to transfer funds from other exchanges), virtual currency will be credited to your account in seconds after swiping the card, and there will be rewards for swiping the card (depending on the bank).
Disadvantages of using a credit card to buy coins on Binance: poor exchange rate, card swiping fees, and some banks do not support it.
As for depositing funds at local exchanges in Taiwan and then buying coins on Binance, the advantages and disadvantages are as follows:
Advantages of buying currencies on Taiwan Exchange: low handling fees, better exchange rates, and support for large-amount transactions
Disadvantages of buying coins on Taiwan exchanges: risk of cross-exchange transfers, need to manage different exchange accounts, long deposit time (about 1~3 working days, depending on the exchange)
Above, both methods have their own advantages and disadvantages for your reference.
List of credit cards supported by Binance
Notice! The following list is information compiled from the Internet and is for reference only. There is no guarantee that it will still be applicable when you read this article.
Taishin Bank
Line Bank
Wing Fung Bank
Taipei Fubon Bank
Cathay Pacific Bank
DBS Bank
Taiwan Shin Kong Commercial Bank
far east international commercial bank
First Bank
Changhua Bank
The above is the instruction and process for buying coins on Binance with a credit card, a list of supported credit cards, and an analysis of advantages and disadvantages for your reference.