Many new users are accustomed to using Alipay for everyday payments and naturally want to use it to purchase cryptocurrency. On Binance, you can buy USDT and other cryptocurrencies through P2P (peer-to-peer) trading with Alipay as your payment method. Sign up on Binance and complete identity verification to get started.
What Is P2P Trading?
P2P trading is a direct transaction between users. You transfer fiat currency to the seller via Alipay, and the seller releases the cryptocurrency to you. Binance acts as an intermediary platform, holding the seller's cryptocurrency in escrow during the transaction to ensure safety.
It works similarly to buying something on a marketplace platform — the platform provides escrow, and both buyer and seller complete their respective parts of the transaction.
Step-by-Step Guide to Buying Crypto with Alipay
Step 1: Go to the P2P Trading Page
Open the Binance App > Tap "Buy Crypto" on the home page > Select "P2P Trading." If it's your first time, the system may require you to complete KYC identity verification first.
Step 2: Set Your Filters
- Select "Buy"
- Choose "USDT" as the currency (recommended for beginners)
- Enter the amount in fiat currency you want to spend
- Select "Alipay" as the payment method
Step 3: Choose a Suitable Merchant
The system will list multiple merchants who accept Alipay. When selecting a merchant, look for:
- Trade volume: More completed trades means more reliable
- Completion rate: The higher the better — aim for 95% or above
- Price: Prices vary slightly between merchants, so compare
- Verification badge: Prioritize merchants with yellow verification badges
Step 4: Place the Order and Pay
After tapping "Buy," the system generates an order and displays the seller's Alipay payment details. You must open Alipay and transfer the funds within the specified time limit (typically 15 minutes).
Important: Transfer the exact amount shown on the page to the specified account. Don't transfer more or less. Do not write anything related to cryptocurrency in the transfer memo/note field.
Step 5: Confirm Payment
After completing the Alipay transfer, return to the Binance App and tap "I've Paid." Once the seller confirms receipt, the cryptocurrency will be released to your account.
Important Notes When Buying
Transfer Memo
When transferring via Alipay, leave the memo field blank or write something casual. Never write terms like "crypto," "USDT," "Bitcoin," etc.
Transaction Limits
Alipay has per-transaction and daily transfer limits. For larger amounts, you may need to split across multiple transactions or use bank transfers instead.
Order Timeout
Make sure to complete payment within the specified time after placing an order. If you fail to pay before the timeout, the order is automatically cancelled. Repeated timeouts may affect your account reputation.
Download the Binance App for convenient P2P trading anytime, anywhere.
What to Do After Buying USDT
Your purchased USDT will appear in your Funding Account. To trade on the spot market (e.g., to buy Bitcoin), you first need to transfer the USDT from your Funding Account to your Spot Account, then go to the trading page to buy and sell.
Transfer steps: Open the App > Assets > Funding Account > Transfer > Select USDT > From Funding Account to Spot Account > Enter amount > Confirm.
Why Buy USDT First?
USDT is a stablecoin pegged to the US dollar, maintaining a price of approximately $1. Buying USDT first has several benefits:
- Price stability — no significant fluctuations between placing your order and funding
- USDT can be exchanged for virtually any other cryptocurrency on Binance
- It gives you flexibility to buy Bitcoin or other tokens at the right time
FAQ
What if the seller doesn't release the crypto after I pay via Alipay?
If the seller doesn't release the crypto after you tap "I've Paid," you can file an appeal. Binance support will intervene, verify the transfer records, and resolve the issue. Your money won't be lost.
Are there fees for buying crypto with Alipay?
P2P trading itself is fee-free. However, different merchants offer different prices, and the price spread includes the merchant's margin.
How much can I buy per day?
This depends on your KYC verification level and Alipay's transfer limits. Sign up on Binance and complete advanced verification for higher trading limits.
What other payment methods can I use besides Alipay?
Binance P2P also supports WeChat Pay, bank transfers, and other methods. Available payment options vary by merchant.
Safety Tips
- Only conduct P2P trades within the Binance App — never transfer money privately
- Carefully verify payment details match what's shown on the page before transferring
- Never write cryptocurrency-related terms in transfer memos
- Save Alipay transfer screenshots as proof of payment
- Contact live support within the Binance App if you encounter any issues