How to deposit your ZAR to crypto

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We at Yknot Blockchain Solutions often need to give our friends and customers instructions to legally offshore their money into a crypto account.

These 2 guides by Binance provide all the right steps to deposit and withdraw funds between your fiat biank account and your crypto wallet. 

How to Deposit ZAR via SWIFT

(Click here for full instructions with video & images)

You can follow the instructions below to deposit ZAR to your Wallet via SWIFT:
  1. Log in to your Binance account and go to [Wallet][Fiat and Spot].
  2. Click [Deposit].
  3. Select [USD] as currency and then select [Bank transfer (SWIFT)].
  4. Enter the deposit amount and click [Confirm] to create a deposit request.
    • Please note that if this is the first time making a transfer to Binance, you are required to add a bank account to be used for the deposit.
  5. Transfer funds to the account credentials as displayed. Please ensure that the reference code is included in the remittance details when you make your transfer.
  6. Once you have completed the bank transfer, please wait for the transaction to be successfully reflected on Binance. It may take at least 1 working day.

Once your money successfully reflects in your Binance account, you can bridge it to Telos using any of the methods described in this guide.

How to Withdraw ZAR via SWIFT

(Click here for full instructions with video & images)

You can follow the instructions below to withdraw your ZAR from Binance via SWIFT:
  1. Log in to your Binance account and go to [Wallet] [Fiat and Spot].
  2. Click [Withdraw].
  3. Under the [Fiat] tab, select [ZAR][Bank transfer (SWIFT)] and enter the withdrawal amount. Click [Continue] to create a withdrawal request.
  4. Enter the account details (Your name will be filled automatically on the [Receiver Name]).
  5. Check the details and confirm the withdrawal.

Once confirmed, please wait patiently. It might take up to 4 business days for your withdrawal to reach your bank account.

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Yknot Blockchain Solutions

Yknot Blockchain Solutions

This article was written by Yknot Blockchain Solutions for educational purposes. We know the ropes when it comes to building blockchain-based solutions on the Telos network. Contact us to get all hands on deck for your next expedition.

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