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Buying and selling crypto for cash with a third party FAQs

This article describes the steps to buy and sell crypto using third party platforms.

Updated yesterday

While Binance.US operates as a crypto-only exchange for certain states, we have partnered with third-party payment providers to make it easier for customers to access the world of crypto.

Binance.US users can use third-party payment providers to purchase USDT with ease using familiar payment methods such as debit and credit cards. This USDT can then be used to instantly buy and sell 150+ different cryptocurrencies available on Binance.US.

Our enhanced Buy & Sell Crypto feature coincides with our platform-wide transition from USD to USDT as our primary currency for transactions while Binance.US remains a crypto-only exchange.

You can also sell USDT and withdraw to your bank account with these third-party payment providers.


Buying and Selling

How can I buy crypto with USD?

1. From the Home screen, tap the + (Buy) icon.

2. Select the cryptocurrency you’d like to purchase. Then, tap Top up USDT, USDT Balance, or USD Balance to proceed to Buy USDT.

3. Tap Transak.

4. Tap Continue.

5. You’ll now be taken to the third-party website. You will be prompted to submit your order, add a payment method, and confirm your order. Follow the instructions to complete the transaction.

After you’ve paid, we’ll notify you once your crypto has been deposited to your Binance.US account.

How can I sell crypto for USD that can be withdrawn to my bank?

1. From the Home screen, tap the - (Sell) icon.

2. Select the cryptocurrency you’d like to purchase. Then, tap USD Balance.

3. Tap Third-Party.

4. Choose how much USDT you want to sell and tap Continue.

5. You’ll now be taken to the third-party website. You will be prompted to submit your order, add a payment method, confirm your order, and then send your crypto to the third-party for sale. Follow the instructions to complete the transaction.

We’ll notify you once your crypto has been received and sold.


Getting Started

What additional identity verification do I need?

Customers using a third party for the first time can quickly verify their identity before checking out. Identity verification processes are simple and straightforward, requiring a few basic details, such as name, date of birth, and billing address. On average, verification takes just 60 seconds to process.

Subsequent purchases can usually be made in seconds once verification is completed, as login info is saved for 30 days, making it easy to purchase crypto at a moment’s notice.

Which states are not supported?

Our third-party providers do not support customers in New York, Hawaii, Louisiana, and the Virgin Islands. Customers in North Carolina are also unable to use this service.


Troubleshooting

What should I do if I experience an issue?

If you encounter any transaction-related issues when using Transak, you should directly contact Transak's support team for prompt assistance. Transak operates as an independent third-party payment provider, and Binance.US does not manage their platform or services.

Common Scenarios and Steps to Take

Unprocessed Withdrawals If Transak informs you that they cannot process a withdrawal and the funds will be returned within three working days, wait for the specified timeframe. If the funds are not credited back to your bank or Binance.US account, follow these steps:

  • Contact Binance.US support to start an investigation.

  • Also, reach out to Transak support, ensuring the matter is resolved promptly. Issues Arising Due to Updated Contact Information If you cannot complete a transaction due to updated contact details, you should:

  • Visit the Transak Help Center for guidance on resolving the issue. General Troubleshooting For any other transaction-related problems (e.g., difficulties using Transak or questions about its services), you should:

  • Go to the Transak Help Center for detailed instructions and support options.

Contacting Transak Support

The most effective way to get help is by visiting the Transak Help Center: Transak Help Center Transak's specialist team can help address concerns like transaction delays, payment errors, or updated contact details.

Important Notes

  • Transak is an independent third-party platform. Binance.US does not control or manage its services, website, or mobile app. For Transak-related errors, always contact their support team directly..


By selecting the third-party payment provider, you will be redirected to a third-party website or mobile application (hereinafter the “Portal”) that BAM does not control. The services and/or products offered through the Portal will be subject to the terms, conditions, and privacy policies of the Portal owner. For more information, please see our Terms of Use.

Depending on your credit card issuer's policy, you may experience failed or declined transactions. If you encounter issues with your credit card, we suggest trying a debit card as an alternative.


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