In this article, I will show you every detail associated with purchasing crypto using Payoneer. While Payoneer is not a cryptocurrency platform, it can still be used to fund purchases through exchanges or P2P platforms.
I will show you the safest and simplest procedures to fund your cryptocurrency purchases using Payoneer.
What is Payoneer?
Payoneer is an international online payment system that permits and facilitates money transfer and receipt across various countries without compromising on security.
Founded in the year 2005, the system supports various currencies and consists of prepaid MasterCard, payment receiving accounts in various countries, bank transfers and other features.
Freelancers, e-commerce providers and other companies often turn towards Payoneer to receive payments without the restraints of payment delays and high payment fees.
Payoneer is simple and easy to use which, along with its compliance to various financial regulations, makes it an ideal option for international payments.
Payoneer isn’t a cryptocurrency exchange platform, but may be linked to other exchange platforms, or used in an indirect manner to purchase cryptocurrency.
How To Buy Crypto With Payoneer
Step 1: Create a Binance Account
- Visit Binance and create an account using your email address or phone number.
- Upload an ID and a selfie to complete the KYC verification process. This is done to protect your account and meet regulatory requirements.
Step 2: Link Your Payoneer Account
- Binance does not accept direct deposits via Payoneer, but you can link your Payoneer Card or Payoneer Account to a payment method which Binance supports.
- Click on Wallet > Fiat and Spot > Deposit > Bank Card and input your Payoneer card information.
Step 3: Deposit Funds from Payoneer
- Specify the amount you wish to deposit in the preferred currency.
- Funds are typically added to your Binance’s fiat balance in just a few minutes to a few hours after a transaction is confirmed.
Step 4: Buy Cryptocurrency
- Navigate to Buy Crypto on Binance.
- Select a cryptocurrency you wish to buy, like Bitcoin or Ethereum.
- Use your deposited funds from Payoneer as your payment source.
Which Crypto Exchanges Support Payoneer?
Paxful
Now, Paxful is a peer to peer (P2P) cryptocurrency marketplace where users can buy and sell cryptocurrency directly. Paxful for a transaction with 300 other payment options like Payoneer. Users can look through the listings where the sellers are willing to accept Payoneer, make deals, and trade Payoneer in a secure manner.
For sellers, the cryptocurrency is held in escrow and Paxful’s escrow service ensures both buyer and seller meet the escrow terms, adding additional security for the transaction. Paxful works best specially for users who want to buy Bitcoin and other crypto currencies using Payoneer.
KuCoin
KuCoin is one of the global cryptocurrency exchange trends in the world today with vast crypto currencies and trading pairs. KuCoin’s P2P trading platform enables users to purchase and sell crypto with many payment options like Payoneer.
Payments are made directly between the buyers and sellers, the platform clearing the need for an intermediary. Users are also able to earn passively through KuCoin’s advanced features like staking and lending.
CEX.IO
CEX.IO is a cryptocurrency exchange that is licensed and has Payoneer cards as a payment option. Though CEX.IO does not permit direct deposits from Payoneer, customers can link their Payoneer MasterCard to fund their accounts which is a benefit.
For traders, both new and experienced, the platform is accessible because of CEX.IO’s wide variety of cryptos and intuitive software.
Features of Buying Crypto with Payoneer
International Payment Capability Payoneer’s international payment solution enables the funding of cryptocurrency exchanges from virtually any location in the world.
Currency Flexibility Users can hold and remit in more than one currency, facilitating deposits to exchanges that transact in various fiat currencies.
Robust Security for Funding Transactions Payoneer funding purchases for cryptocurrency ensures the safety of your money through industry-leading encryption and anti-fraud technology.
Indirect Access to Crypto through Diverse Funding Sources Payments can be made using a Payoneer card, a connected bank account, or P2P platforms for buying cryptocurrency.
Rapid Transaction Transactions are processed in real time for swift deposits and the ability to purchase cryptocurrency deposits for a minimal time delay.
Simplified Access for BeginnersPayoneer’s dashboard design simplifies the account setup to the linking of funds, managing the account, and the exchanges in case of advanced users.
Widely Accepted PlatformNumerous businesses and freelancers around the world for the past 15 years have fostered trust in Payoneer for international payment transactions.
Tips for Safe Crypto Purchases
- Verify platform reputation.
- Avoid scams and phishing attempts.
- Use secure wallets for storing crypto.
- Double-check transaction details before confirming.
Pros and Cons of Using Payoneer for Crypto
| Pros | Cons |
|---|---|
| Global Access: Payoneer allows users to send and receive funds internationally, making it easier to fund crypto exchanges. | Indirect Usage: Most crypto exchanges don’t accept Payoneer directly, requiring extra steps like using a card or P2P platform. |
| Multi-Currency Support: Users can hold and transfer funds in multiple currencies, useful for exchanges in different regions. | Fees: Transaction, withdrawal, and currency conversion fees may apply when using Payoneer to fund crypto accounts. |
| Secure Transactions: Payoneer uses strong encryption and fraud prevention, providing a safe way to move money. | Limited Crypto Integration: Unlike PayPal or credit cards, Payoneer is not designed specifically for crypto transactions. |
| Fast Transfers: Payments to linked cards or accounts are usually processed quickly, allowing timely crypto purchases. | Regulatory Restrictions: Some countries or exchanges may not fully support Payoneer for crypto, requiring workarounds. |
| Trusted Platform: Established since 2005, widely used by freelancers and businesses globally, giving confidence to users. | Extra Steps Required: Users often need to link Payoneer to a bank account, card, or P2P platform, adding complexity. |
Conclsuion
In conclsuion, Payoneer is one way to fund you crypto account, though vit is normally tedious, involving puchased cards, hand transfers, and other P2P services.
Payoneer is awsome, but make certain you keep track of the cost, platform differences, and extra considerations. There are manners to simplify the transactions too.
FAQ
No, you usually need to use linked cards, bank transfers, or P2P platforms.
Paxful, KuCoin, LocalCoinSwap, CEX.IO, Bybit, Kraken, and OKX (via Payoneer card).
Yes — Payoneer and exchange fees may apply, including currency conversion charges.
