Binance is an overseas virtual currency exchange.
Binance is gaining popularity because of its low fees and the wide variety of virtual currencies it handles.
However, an overseas virtual currency exchange like Binance is a little different from a domestic exchange in terms of ease of use.
The most important point being whether or not you can deposit and withdraw money in Japanese yen.
Binance does not support Japanese yen, so you cannot deposit or withdraw Japanese yen.
Therefore, I would like to explain how to deposit and withdraw money in Japanese yen.
How can I deposit money from Japanese yen at Binance?
Overseas virtual currency exchanges have a set amount of legal tender that they can handle.
There aren’t a lot of overseas exchanges that support Japanese yen, and Binance is one of them.
So how do you make a deposit? Once you have purchased virtual currency, you can make a deposit.
The easiest way to prepare virtual currency is to use a domestic virtual currency exchange.
If you have never traded before and do not have an account, this is a good time to create one.
If you are not sure which virtual currency exchange to choose, we recommend GMO Coin, which is a major company and has no transfer fees.
When you are ready, deposit money into Binance from your account or wallet.
At this time, there is no deposit fee, but please note that the remittance source of the money may charge a transfer fee.
Another way is to use your credit card to buy virtual currency directly.
With this method, you don’t have to make a deposit every time you want to buy virtual currency, so you can buy virtual currency right away without having to create an account at a domestic exchange.
However, you should be aware of the high card usage fees.
You will be charged either 3.5% of the virtual currency price or 10 USD, whichever is higher.
How do I withdraw funds in Japanese yen at Binance?
Most overseas exchanges do not accept Japanese yen for withdrawals, and Binance does not allow withdrawals in Japanese yen either.
You will also be charged a fee when withdrawing from Binance, and the fee varies depending on the type of virtual currency.
There are also set withdrawal limits.
For example, the daily withdrawal limit for bitcoin is 2 BTC.
Incidentally, if you verify your identity, you can raise the limit, allowing you to withdraw up to 100 BTC.
When withdrawing, please pay attention not only to the fees but also to the withdrawal limit.
This is how to deposit and withdraw money from Binance.
The following is a summary of Binance deposit and withdrawal methods and important points to take note of.
You cannot deposit or withdraw money in Japanese yen at Binance.
To deposit, you need to prepare virtual currency.
If you use a credit card, you can buy virtual currency directly from Binance, but there are high credit card fees.
Be careful of the withdrawal limit.
I hope this will be helpful to you when you start trading on Binance.
There is also way to get Bitcoin without buying it.
Please refer to the following article.