Buy Crypto with Alipay

Cam you Buy Crypto with Alipay?

At present, Alipay does not directly enable transactions for cryptocurrencies via its online platform or mobile application across all jurisdictions. Individuals interested by the world of digital currency are recommended to explore a reliable, region-compliant cryptocurrency exchange. Upon the successful deposit of your respective currency into your preferred cryptocurrency trading platform via Alipay, you are granted the ability to purchase, trade, and sell various cryptocurrencies, all in accordance with your local legal requirements.

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How to Buy Bitcoin and Crypto with Alipay

As mentioned above, one of the only exchanges in the world that offers Alipay deposits is the Binance trading platform. With this method, you can buy BTC, ETH and USDT with an Alipay transfer, then use those funds to trade the 350 other cryptocurrencies on the platform. Their exchange does not require and KYC/AML or identity verification, which means you can onboard in minutes.

Follow this simple guide to get started:

1. Create Account: Sign up to the Binance platform and verify your identity.
2. Find P2P Trading: Select 'Trade' in the Navigation Menu and select 'P2P Trading'.
3. Select Alipay: Select the token you want to buy (e.g USDT) and select CNY & Alipay as your payment method.
4. Execute Trade: Finally, click 'Buy' on the top listing to finalise your purchase of USDT with an Alipay account.

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Fees to Buy Crypto with Alipay

The fees to buy cryptocurrency with Alipay on the Binance platform are very low. Investors and traders will only pay a 0.1% taker fee when you place an order, and there's no deposit fee for using Alipay (most exchanges charge around 0.5% per transaction).

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Is Alipay Crypto-Friendly?

Yes, Alipay has become crypto-friendly. In recent years, the platform has evolved to accommodate the growing interest in cryptocurrencies, allowing users to deposit CNY and other currencies into regulated and trusted exchanges in Asia, such as Binance. This move has made it easier for Alipay users to access the world of cryptocurrencies and to participate in the expanding digital asset market.

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About Alipay

Alipay is a Chinese online payment platform founded in 2004 by Alibaba Group. Alipay overtook PayPal as the world's largest mobile payment platform in 2013, according to iResearch. As of February 2018, Alipay had over 870 million monthly active users. In 2016, two-thirds of China's 477 million Internet users were using Alipay.

Alipay is an escrow service that allows individuals and businesses to make and receive payments online. The company also provides data analysis, marketing, and risk management services for its users. Alipay is the world's largest mobile and online payment platform. The company was founded by Jack Ma and Peng Lei in 2004. The company was originally part of the Alibaba Group, but it became a standalone company in 2011. Alipay is headquartered in Hangzhou, China.

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Final Thoughts

In conclusion, Alipay users can indirectly purchase cryptocurrencies like Bitcoin and Ethereum through the Binance exchange, which accepts Alipay deposits in Chinese Yuan (CNY) and other currencies. Binance provides a seamless, low-fee trading experience with over 350 crypto assets available. While Alipay doesn't offer direct crypto purchasing services, it has become more crypto-friendly, enabling users to deposit funds into regulated exchanges like Binance to explore the ever-growing world of digital assets.