There are numerous deposit options at Binary.com, but PayPal is not one of them. In this guide, you will find out what alternatives there are and what idiosyncrasies the various service providers bring with them. The financial service provider PayPal is also considered in more detail.
The most important information about "Binary.com PayPal" at a glance:
- A deposit via PayPal is not possible
- There are three different payment methods at Binary.com
- Binary.com has 17 different payment service providers
- The financial service providers offer minimal deposits between 5 and 150 euros
- The transfer time can last from a few minutes to five days
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The company PayPal and the payment terms
The PayPal company has developed in the course of worldwide trading via the Internet. PayPal is designed to help distinguish good traders from bad traders and honest customers from dishonest customers. The preselection is done by PayPal. PayPal is a private company, which acts as a service provider on the financial market. Invoices are paid via PayPal.
Both the retailer and the buyer are PayPal customers. The merchant has the advantage that the invoice is immediately settled when the invoice is processed by PayPal. He has to pay a fee for every invoice he receives. However, use is free of charge for buyers. In addition to the seriousness check by PayPal, you also have buyer protection. This means that PayPal is responsible for any complications from the merchant. This can be complaints, delivery problems or other problems. There is also increased data security because no account data is transferred to an internet retailer.
PayPal is a successful compromise for both retailers and customers looking for serious business partners. The retailers benefit from the immediate payment of the invoice, whereas the customers benefit from consumer protection and increased data security.
eWallet services as a Binary.com PayPal alternative?
The Binary.com PayPal alternatives can be divided into three categories. There are the bank transfers / money transfers, the credit and debit cards as well as the eWallet services. The eWallet services come closest to the PayPal principle. With eWallet services, the customer has an account that is linked to a reference account. Depending on the provider, the eWallet account is filled with real or synthetic currency.
When making a payment, only the connection data for the eWallet account will be disclosed. In the event of data misuse, only the amount of the eWallet account can be debited. eWallet payments are usually received in the binary options account within a few minutes. Binary.com can make payments in the range of 5 to 10,000 euros. Withdrawals only take one day. Even if Binary.com does not charge fees for deposits and withdrawals, the eWallet provider may still incur costs.
The eWallet providers usually handle the deposits and withdrawals very well fast. Just like PayPal, they offer an increased level of data security. At Binary.com, the possible deposit range is between 1 and 10,000 euros. The fees depend on the provider.
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What you need to know about bank transfers
Bank transfers are among the most conservative payment methods. The recipient receives the account details, but does not receive a direct debit authorization. If there is an unlawful debit, the payment service provider is liable. Bank transfers are often tied to minimum amounts due to their increased administrative effort. At Binary.com, these claims are between 10 and 100 euros.
In addition, the transfer time is relatively long. The deposits can take up to five working days, possibly seven days. This can lead to long waiting times not only because of opening an account. It is also possible that due to some wrong decisions, the trading account is empty and trading is only possible after a new deposit.
Deposits by bank transfer may be tied to minimum deposit amounts. In addition, bank transfers take a disproportionately long time. So it is possible that five to seven days pass before credit.
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Why do credit cards also have disadvantages?
Credit card payments are quick and easy. Buyer protection is also included for many cards. Depending on the provider, annual payments can even be amortized or bonuses earned via credit card payment. In addition, deposits by credit card only take a few hours to a maximum of one day. Withdrawals, on the other hand, can take three days.
Especially when it comes to withdrawals, other problems arise in the credit card area. Credit cards have the peculiarity that money can only be transferred to them in the amount of the total deposits. If only 3,000 euros are deposited on Binary.com, only 3,000 euros can be paid out again. Further profits must be transferred to a reference account. However, this again involves bureaucratic effort, since all accounts have to be verified beforehand.
Credit cards have the advantage of being able to make payments quickly and easily. On the other hand, it is disadvantageous that payments can only be made in the amount of the payments. Higher payouts require another reference account.
The Binary.com consumer check PayPal
What is the minimum deposit at Binary.com?
The minimum deposit at Binary.com is € 5.
What are the fees for a Binary.com withdrawal?
From Withdrawals fees are currently not charged to Options Broker Binary.com
What is the minimum trading amount?
The minimum trading amount is € 1.
How many trading instruments can be traded on Binary.com?
In total, trading with 150 instruments is possible. These come from the markets of equities, currency pairs and commodities.
Which currencies are accepted by Binary.com?
At Binary.com, the euro, US dollar, Australian Dollar and British Pound accepted equally.
Apps, bonuses and other offers at Binary.com
The Binary.com experience with deposit options is consistently positive, even if a deposit via PayPal is not possible. The deposits can be processed through numerous service providers. Traders can learn their trading strategies at the academy and test them on a Binary.com demo account. The implementation of the strategy is not possible via a Binary.com app. The broker comparison from this page can provide information on how Binary.com compares to others!
Conclusion: No PayPal deposits at Binary.com
Also if no deposits via PayPal are possible at Binary.com, there are enough options to make a deposit. The payment providers can be divided into bank transfers, credit cards and eCash providers. There are a total of 17 different providers. The advantages and disadvantages must be weighed for each provider. Payments to credit cards can only be made in the amount of the previously made deposit and bank transfers usually take up to five days. With the many providers, there is guaranteed to be one that comes into question for you when making a payment to a Binary.com trading account! If so, you can open an account at Binary.com today.
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