When venturing into cryptocurrency trading on Bitunix, it’s vital to grasp the process of depositing funds. Bitunix, a centralized exchange based in Hong Kong, facilitates secure storage, transmission, and reception of digital assets with a commitment to security, speed, and low fees.
This guide aims to elucidate the accepted payment methods on Bitunix and provide clear insights into cost-effective approaches for depositing funds, whether through cryptocurrencies or fiat currencies.
Check out our full Bitunix review to learn more about the platform.
As a new member of Bitunix, please follow the provided guidelines to complete the KYC verification. This step is necessary for Fiat Deposits, while crypto deposits do not require verification.
To verify your identity on Bitunix, you first navigate to the profile tab and click on “KYC.”
Then, proceed to Basic Verification. Click on “Verify” and proceed to fill in your details.
Please input your full name, counter, card number, and date of birth. Before advancing, meticulously review and confirm the accuracy of the entered data.
Click “Next” to proceed. Subsequently, upload well-defined images of both sides of your ID card. Additionally, submit a photo of yourself holding the ID card, accompanied by a handwritten note featuring “Bitunix” and the current verification date.
This thorough process makes sure your identity check is secure and reliable. Once you finish, expect quick confirmation after 3-4 days to confirm if you successfully passed.
Bitunix Fiat Deposits
Buying crypto on Bitunix via a third party is straightforward. Navigate to the “Buy Crypto” option at the top left corner. Bitunix allows users to trade crypto with over 30 supported fiat currencies, including USD, AED, AUD, EUR, GBP, CAD, TRY, and more. Supported payment methods include bank cards like Visa and Maestro.
To initiate a purchase, specify the amount you want. For example, let’s deposit 500 USDT using USD. Note that when buying crypto via a third party, the minimum deposit is 30 USD, and the maximum is 12,000 in a single trade.
Third-Party Payment Provider
Optimize your crypto purchase on Bitunix by selecting the best rate from three third-party providers. Currently, “Fatpay” offers the most favorable rate. Click on “Fatpay” and proceed with “Next” for a cost-effective transaction, ensuring you make informed decisions and get the most value for your investment.
Confirm your intent by clicking “Buy USDT” and executing payment to the designated account provided. Transaction will be continued on the Fatpay site, where you will confirm the purchase and your funds will be credited to your account within a few minutes following the successful transaction.
The process is designed for simplicity and efficiency. By following these steps, you can seamlessly purchase cryptocurrency on Bitunix. The platform’s support for various fiat currencies and instant processing of Quick Buy payments ensures a hassle-free experience for users, making it convenient for both beginners and experienced traders alike.
Bitunix Crypto Deposits
If you possess cryptocurrencies on another exchange or in a wallet, you can transfer them directly to Bitunix for account funding. Bitunix, with support for over 170 cryptocurrencies, provides a versatile platform. You can utilize various deposit options, including popular crypto networks like BRC20, TRC20, ERC20, BEP20, SOL, and Polygon. This flexibility allows for seamless and diverse ways to fund your Bitunix account.
When you are ready to deposit cryptos on Bitunix, you must generate your wallet address first. Note that each network has a different address, and some networks require additional info, such as a memo. To generate your deposit address, follow the simple step-by-step guide below.
Head over to your spot wallet by hovering over “Assets” in the top right corner and selecting “Deposit.”
Select the Asset
Next, choose which crypto asset you want to deposit into your Bitunix account. You can easily use the search function to filter through all supported assets on Bitunix quickly. When you find the asset you want to deposit, click “Deposit” on the right-hand side.
To deposit a specific asset, like USDT, use the search bar. Type in the name of the asset you want to deposit, making it easy to locate and select within the platform.
Select Network
Bitunix facilitates deposits through various networks, including Solana, Polygon, Ethereum, Arbitrum, Optimism, and BSC (Bep20). Selecting the appropriate network is vital. For example, if opting for the TRC20 network, the address generated can only receive funds through the Tron network. Once you pick your network, the system will automatically generate your deposit address. This ensures that your USDT is seamlessly transferred to your Bitunix account through the designated network, providing clarity and ease of use in the deposit process.
Send Funds to your Address
Now, you are all set with your personal Bitunix wallet address. You can only send funds to this address with the selected network, or you can quickly scan the QR code from the wallet to which you want to send the assets. In this case, we can only send funds through the Tron network. Select the correct network when withdrawing funds from your other wallet to Bitunix. When sending funds to the wrong address or through the wrong network, you will lose them forever. You have selected TRC20; please select the same network on the withdrawal platform.
Are Bitunix Funds Secure?
Bitunix prioritizes security through its AML/KYC principles. Commitment includes due diligence, ethical business conduct, and cooperation with authorities to prevent money laundering and terrorism financing. The risk assessment involves stringent customer identification, risk-based due diligence, and ongoing monitoring. The leadership team ensures a robust compliance culture, assuring users that funds are secure on Bitunix.
Bottom Line
Bitunix excels as a secure cryptocurrency exchange, emphasizing stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) principles along with robust risk mitigation strategies. Notably versatile, it accommodates diverse crypto deposits across various networks, providing users with a comprehensive platform. The exchange’s flexibility extends to supporting numerous crypto assets and deposit methods, enhancing accessibility. Bitunix prioritizes due diligence, ethical conduct, and continuous monitoring to ensure effectiveness and user safety.
For those holding cryptocurrencies elsewhere, quickly transfer them to your Bitunix account by generating a personal wallet address. Follow our detailed guide to ensure the secure receipt of your funds, remembering to triple-check your wallet address and network to avoid any risk of losing your funds due to choosing the wrong network.
