Summary: WeChat Pay does not currently offer any products or services that enables customers to buy cryptocurrencies directly through the app. This means investors will need to find an exchange that accepts fiat deposits and withdrawals via WeChat Pay to buy crypto assets.
Our top pick for users is Binance. Their platform offers instant WeChat Pay deposits with Chinese Yuan (CNY) to buy and sell over 350 cryptocurrencies with low fees. The exchange is licensed and available in China, making it a safe platform to buy and custody your digital assets.
Best Exchange for WeChat Pay
Platform Highlights
- Instant and free Chinese Yuan (CNY) and other currency deposits from WeChat Pay.
- Trade 350+ crypto assets with low fees starting at 0.1% per trade.
- Largest and most trusted Cryptocurrency exchange in the world with 100 million users.
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Can You Buy Crypto with WeChat Pay?
At the moment, WeChat payments do not offer a straightforward method for users to acquire Bitcoin or other digital currencies through their mobile payment app. Nevertheless, individuals can sign up with a reliable Chinese cryptocurrency exchange and deposit Chinese Yuan (CNY) from their bank accounts via WeChat payments to enter the world of cryptocurrencies.
How to Buy Bitcoin and Crypto with WeChat Pay
The safest and easiest way to buy Bitcoin, Ethereum, USDT and other digital assets with WeChat Pay is through a regulated & audited trading platform. We recommend Binance which accepts instant deposits from WeChat Pay to trade and stake over 300 crypto assets with industry-leading fees.
You can follow this simple 4 step guide to get started:
- Sign Up: Register for an account on Binance and complete the identity verification process.
- Deposit Funds: Choose CNY as your currency and WeChat as your Payment Method.
- Transfer Funds: Find the vendor that offers the best rate and select 'Buy BTC'.
- Purchase Crypto: Follow the prompts to execute the transaction and the funds will be credited to your Binance account.
Is WeChat Pay Crypto-Friendly?
Although WeChat does not directly facilitate the purchase of cryptocurrencies via its app, it does not restrict users from transferring funds to platforms such as Binance. This demonstrates that WeChat Pay is indeed crypto-friendly, permitting customers to acquire digital assets using its payment service. By doing so, users can explore a diverse range of cryptocurrencies and engage in the expanding world of digital finance.
What are the Fees?
Binance does not impose any fees for depositing or withdrawing funds using WeChat Pay. The sole expense users face is a 0.1% trading fee when conducting transactions on Binance, considered among the most competitive rates in the sector. By holding a specific quantity of BNB tokens, users can enjoy even lower trading fees, potentially dropping to 0.01% per transaction.
What is WeChat Pay?
WeChat Pay is a digital wallet service that is integrated into the messaging app WeChat. It allows users to make electronic payments and money transfers within the app. WeChat Pay is very popular in China, and it has also been expanding to other countries in recent years. It can be used to pay for goods and services in physical stores, as well as online. Users can link their bank account or credit card to WeChat Pay, and then make payments by scanning a QR code or inputting a payment code.
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Final Thoughts
In conclusion, while WeChat Pay does not directly offer cryptocurrency purchase options, it serves as a reliable and crypto-friendly gateway for users to venture into the digital asset space. Users can seamlessly deposit funds via WeChat Pay into platforms like Binance, our recommended choice, to buy and trade a broad range of cryptocurrencies.
Binance boasts competitive trading fees, a comprehensive selection of digital assets, and accepts instant WeChat Pay deposits. It thereby simplifies the process of entering the cryptocurrency market for WeChat Pay users, providing them with secure, efficient, and cost-effective access to the evolving world of digital finance.
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Author
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.
