There is an alternative to P2P funding to the Binance FIAT account.

We can probably use AdvCash to deposit EUR into Binance, then use the FIAT currency to trade directly for your preferred coins.

I will base my examples with RM1000 deposit.

Case 1, Binance P2P:

I take the most current and cheapest rate, 4.34MYR to 1USDT by a seller.

So spending RM1000 will get us 230.41USDT, a 5.25% premium(fee).

RM1000 get USDT230.41(equivalent to RM947.50)

Case 2, AdvCash Deposit

There is no fee charged by Binance for deposit via AdvCash.

But there is a fee of 3.5% imposed by AdvCash for funding the account via VISA/MASTER card.

There are only 3 FIAT available for deposit: USD, EUR and RUB.

Forget about funding AdvCash with USD, Binance USD FIAT deposit doesn't support AdvCash.

So spending RM1000 will get us EUR194.80, after the 3.5% fee.

RM1000 get EUR194.80(equivalent to about RM965). Which is a bargain compare to P2P rate.

Go to Binance "Buy Crypto" section https://www.binance.com/en/my/wallet/accoun...eposit/fiat/EUR , select Advcash Account Balance, and continue to deposit your Binance FIAT wallet with AdvCash balance.

Then, go to https://www.binance.com/en/trade/ETH_EUR?la...t=pro&type=spot and trade for ETH using EUR, or trade for any AltCoins you like.

However, the caveat is, your Bank or BigPay will likely regard deposit into AdvCash as quasi-money transactions again and will decline your transaction. Kindly correct me if I am wrong.

If you haven't register for AdvCash yet, sign-up at --referral link removed--

Bear in mind that use at your own risk. I am just sharing what I found. If you are a veteran of AdvCash, kindly contribute so we can help wannabe to venture into cryptosphere with more friendly environment.

Thank you.

from my experience with advcash, if use credit card there will be cash advance fee from credit card bank, with debit card i havent try and those advance fees hurt

Yaaa, they consider it as online gambling activity.

but maybe can try with big pay maybe cheaper but currently think just do binance thru bigpay with sgd is the cheapest. nonetheless kudos on the idea just the cash advance fee will hurt haha

But I heard several stories of BigPay refused the transactions with new VISA card, and some time even with old Master Card.

This post has been edited by wangwangi: Apr 23 2021, 11:50 PM

i unfortunately dont have a bigpay card but i saw other forum folk saying just have to try few times. the everlasting problem of crypto in malaysia, struggle to get the money in in the first place (well at least cheaply)

Mind sharing with us if there is actually spread imposed by your Bank for foreign exchange? So total how much is the cost besides the visible 3.5% and your cash advance fee?

I really cant tahan to seee your avatar as it hinder my screen.

metoo. wanna picit dia

For those with the old MASTERCARD, they used it on Binance Pro (mobile app).

But for the VISA cardholders like me, it's a dead end. The CS rep has already stated the restriction when I asked one.

This post has been edited by UserU: Apr 24 2021, 06:22 PM

Have u tried with AdvCash with small test amount? Does it go through with VISA? Personally, I don't think so.

If it goes through, then it is great, because sometimes P2P Market has a minimum of 2000 - 4000 purchase order, a huge barrier for those who wish to just invest small amount. AdvCash has no minimum deposit restriction as far as I know.

I just tested with USD$1(should bought EUR though) with my old BigPay Master card, it went through smoothly. No problem at all.



This post has been edited by wangwangi: Apr 25 2021, 08:46 AM

We can also withdraw funds to Malaysian Banks after address verification.

Not yet, but I might try it soon!

I agree that the minimum order amount is ridiculous unless you opt in for the higher rates. Which are essentially the same.

From my calculation, the cheapest is old BP M/C with SGD. Sometimes AdvCash payment method is cheaper than P2P.

If AdvCash and P2P have the same rate then I prefer AdvCash to avoid potential scams in P2P market.

thanks for sharing, but may i know when you buy with old bp card with sg, binance will ask for address?
If so what address we need to fill? Also do binance charge any fee for using BP?

Thanks

This post has been edited by dashisiong: Apr 26 2021, 03:23 AM

No address input. No fees if pay with SGD, THB, DON.

Try BP many times still can't get through. You guys really succeeded?

Works with old BP Master.

Maybe you can try UAH deposit via VISA/Master with 0.8% fee.

https://www.binance.com/en/my/wallet/accoun...eposit/fiat/UAH

This post has been edited by wangwangi: Apr 26 2021, 09:34 AM

what bigpay card u using? mastercard or visa?