Can you Buy Crypto with Alipay?
Yes, you can purchase Bitcoin and cryptocurrencies using Alipay by transferring funds from your account to a licensed digital asset exchange that supports Alipay deposits. This approach allows you to instantly deposit Chinese Yuan (CNY) & other currencies to buy, sell, and trade a broad array of cryptocurrencies, such as Bitcoin, Ethereum, Solana, and others, within a regulated framework.
How to Buy Bitcoin and Crypto with Alipay
As previously discussed, the most efficient way to purchase crypto using your Alipay App is through an exchange that supports deposits from Alipay. After examining the top exchanges in China, we found that Binance was the optimal choice for Alipay depositors due to their instant transfers, wide variety of cryptocurrencies, low fees and overall trustworthiness.
Here is a simple 4-step guide to help you start buying crypto with Alipay:
- Sign up on the Binance platform and verify your account.
- Choose 'Trade' and the 'P2P' option in the navigation menu.
- Select CNY as the currency you want to deposit, Alipay as your deposit method, and find the crypto you want to buy.
- Click 'Buy' and follow the prompts to complete your CNY transfer from Alipay.
What are the Fees?
The fees for investing in crypto assets using your Alipay account will vary depending on the platform you choose. Fortunately, Binance allows free CNY deposits via Alipay and charges a modest 0.1% trading fee on transactions. This attractive fee structure makes Binance a popular choice for investors and traders that use Alipay, compared to alternatives like OKX and Gate.io, which frequently impose higher fees and spreads.
Alipay Cryptocurrency Policy
Alipay is crypto-friendly as it allows users to transfer funds to licensed digital asset exchanges that accept CNY deposits, enabling them to buy, sell, and trade cryptocurrencies in a regulated environment. When it comes to adding native support for Bitcoin and other currencies on Alipay, the company has made no official announcements of any forthcoming plans.
In summary, Alipay does not directly support cryptocurrency transactions, but users can buy, sell, and trade cryptocurrencies through licensed digital asset exchanges that accept CNY deposits via Alipay.
Binance stands out for Alipay-based crypto purchases due to its instant, fee-free CNY and 50+ other currency deposits, competitive rates, extensive trading volume, robust user base, and impressive liquidity. Alipay has not made any official announcements regarding plans to add native support for Bitcoin or other cryptocurrencies.