Bitaigen Research Title: 2024 Binance China Guide – Registration, App Download, Buying USDT, Withdrawal & Leverage
Conclusion
Despite the shifting regulatory environment in mainland China, Binance remains technically reachable for Chinese users in 2024. By following a series of well‑documented steps—using a VPN or foreign Apple ID, registering with an email or a supported +86 mobile number, completing the required KYC, and then accessing the platform through the official APK or App Store—traders can safely purchase USDT, withdraw funds, and even engage in margin‑based long or short positions. The process is largely unchanged from previous years, but the tutorial video released by “饭团🍙元宇宙比特币” consolidates the latest nuances, such as the continued support for Chinese phone numbers and the use of referral codes that still grant fee rebates.
How to Register on Binance in 2024
- Access the registration page – Open a VPN if the direct link is blocked and navigate to the official Binance sign‑up URL (
https://www.binance.com). - Choose a credential type – Register with either:
- A Gmail or Outlook email address, or
- A Chinese mobile number prefixed with +86 (still accepted by the platform).
- Create a strong password – Follow Binance’s password policy (minimum 8 characters, mix of letters, numbers, and symbols).
- Complete the security verification – Solve the image‑based CAPTCHA and, if prompted, enter a referral code (e.g.,
VE2DADQI) to receive a 20 % trading‑fee rebate. - Confirm registration – Click the verification link sent to your email or enter the SMS code received on your phone.
The video tutorial confirms that this workflow is functional as of early 2024, and users report no additional restrictions beyond the need for a VPN when accessing the registration portal from mainland China.
Downloading the Binance Mobile App
Device | Recommended Method | Key Considerations
Android | Download the official APK from Binance’s website (https://www.binance.com/en/download). | Avoid third‑party stores to prevent phishing or tampered binaries.
iOS | Use a foreign Apple ID (U.S., Taiwan, or Hong Kong). Log out of your current Apple ID, sign in with the foreign one, then search for “Binance” in the App Store. | The mainland Apple Store no longer lists Binance; a foreign ID circumvents this limitation.
Both approaches are highlighted in the source video, which stresses the importance of verifying the APK’s checksum and keeping the app updated through the official channel.
Identity Verification (KYC)
To unlock fiat deposits, withdrawals, and higher trading limits, Binance requires KYC:
- Log in and navigate to “User Center → Identity Verification.”
- Upload a government‑issued ID (passport, driver’s license, or Mainland Chinese ID).
- Provide a selfie holding the ID for facial verification.
- Submit a proof‑of‑address if the platform requests it (e.g., a utility bill).
The tutorial notes that verification typically completes within minutes, but occasional manual review can extend the timeline to 24 hours.
Buying USDT on Binance
Once KYC is approved, acquiring USDT follows a straightforward flow:
- Deposit fiat – Choose “Buy Crypto” → “Fiat” → select CNY (via a supported third‑party payment partner).
- Select USDT as the target asset and enter the amount you wish to purchase.
- Confirm the transaction – Review the exchange rate and any applicable fees, then click “Buy.”
The video demonstrates a live purchase, confirming that the “Buy Crypto” interface still displays CNY as an option for Chinese users, despite the broader regulatory pressure on direct fiat on‑ramps.
Withdrawing Funds
Crypto Withdrawal (e.g., USDT)
- Navigate to “Wallet → Fiat and Spot.”
- Click “Withdraw”, choose USDT, and paste the destination wallet address.
- Enter the network (ERC‑20, TRC‑20, etc.) and the amount.
- Complete the security verification (SMS code, email link, or Google Authenticator).
- Submit – Binance will process the withdrawal, typically within a few minutes for TRC‑20, longer for ERC‑20 due to network congestion.
Fiat Withdrawal
Direct CNY withdrawals are not offered on Binance for mainland accounts; users must first convert crypto to a supported fiat (e.g., USD) and then use a third‑party gateway or OTC desk. The tutorial advises using Binance’s “P2P” marketplace to find a buyer who can transfer CNY to a Chinese bank account.
Leveraged Trading: Long and Short Positions
Binance’s “Margin” and “Futures” products enable both bullish (long) and bearish (short) exposure:
- Open the “Futures” tab and select the USDT‑M futures market.
- Adjust leverage – The interface allows up to 125× for certain contracts; the tutorial recommends staying within 20× for risk management.
- Choose “Buy/Long” to profit from price increases, or “Sell/Short” to profit from declines.
- Set stop‑loss and take‑profit levels before confirming the order.
The video stresses that leveraged trading is only available after completing an additional “Risk Disclosure” acknowledgment and that Chinese users must be aware of local restrictions on margin products.
FAQ
Q1: Can I still create a new Binance account from mainland China in 2024?
A: Yes. By using a VPN to reach the official registration page and following the email or +86 mobile number sign‑up flow, new accounts can be created. A referral code can still provide a fee rebate.
Q2: Is the Binance mobile app available on the Chinese Apple App Store?
A: No. The app is removed from the mainland App Store. Chinese iPhone users need a foreign Apple ID (U.S., Taiwan, Hong Kong, etc.) to download the app from the corresponding regional store.
Q3: How do I withdraw CNY from Binance?
A: Direct CNY withdrawals are not supported. Users typically convert crypto to USDT or another stablecoin, then sell on Binance’s P2P marketplace to a buyer who will transfer CNY to a Chinese bank account.
Background
Binance, founded in 2017, quickly grew into the world’s largest cryptocurrency exchange by trading volume. In 2021‑2022, Chinese regulators tightened rules on domestic crypto activities, prompting Binance to limit certain services for mainland users, such as direct fiat on‑ramps and margin products. Nevertheless, the platform’s global infrastructure—paired with VPN accessibility and the ability to register with Chinese phone numbers—has kept it functional for Chinese traders.
The 2024 tutorial by “饭团🍙元宇宙比特币” reflects the latest practical adjustments: the continued acceptance of +86 numbers for registration, the need for foreign Apple IDs on iOS, and the persistence of P2P fiat channels for CNY. While regulatory risk remains, the step‑by‑step guide provides a reliable roadmap for newcomers seeking to engage with Binance’s spot, P2P, and futures markets from within China.
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