AliPay is an accessible digital payment solution application that is a creation of the Alibaba Group and its founder, Jack Ma. Today, AliPay is used on multiple Asian focused crypto sites.
In 2004, Jack Ma established the platform in Hangzhou, China, and AliPay grew to be a lifestyle changer in the country and globally with over a billion users. The application is a hassle-free deposit method available on phones and can be used to purchase goods and services online or in-store instantly. AliPay transactions are safe and secure with contact-free payment solutions such as QR code scanning. It is a cheap and convenient solution available on a few crypto sites that accept Alipay. Below are the best sites to enjoy fiat deposits through Alipay.
Top 1 sites for buying, selling and trading crypto with AliPay
This is the toplist with the best sites to buy, sell or trade cryptocurrencies with AliPay. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button. We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
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- 1 Top 1 sites for buying, selling and trading crypto with AliPay
- 1.1 Summary
- 1.2 Advantages
- 1.3 Disadvantages
- 1.4 What is AliPay?
- 1.5 AliPay Costs
- 1.6 Transaction speed for AliPay
- 1.7 AliPay Deposits
- 1.8 Which are the main countries where AliPay is used?
- 1.9 Can you buy Bitcoin with AliPay?
- 1.10 Can you purchase Ethereum with AliPay?
- 1.11 Can you withdraw with AliPay?
- 1.12 How is the reputation of AliPay?
- 1.13 FAQ
Alipay is a payment application platform that offers a digital wallet where users can initiate payments, deposits and fiat transfers using QR codes. It is most popular in China and has fast and seamless transactions with a market of over 1 billion users. It uses an escrow service to guarantee the security of its transactions for buyers and sellers. There are reputable crypto sites that accept AliPay as a deposit method. Some of these include Binance, LocalBitcoins, and Paxful. See our list of pros and cons with AliPay below in order to get a more nuanced picture of the company.
+AliPay offers low transaction fees for merchants which encourages more deposits.
+AliPays’ app is user friendly hence everyone from various backgrounds utilise it.
+It offers payment through the QR code which is fast and convenient.
+AliPay provide advanced encryption with real time monitoring to guarantee safety.
+They have escrow services to ensure secure transactions between buyer and seller.
-Only available for 90 days as a tourist in China
-There are few crypto sites that accept Alipay for deposits.
-The AliPay app is not yet fully translated to English.
-AliPay is not insured by FDIC.
What is AliPay?
It is a digital wallet application that facilitates users to have in-store and online purchases via a smartphone. Users can access QR codes provided by merchants for a seamless transaction. The app offers an escrow service that secures transactions between buyers and sellers. The app is dominant in China and has over a billion users and over a million daily transactions. It allows tourists to China for 90 days with access without a Chinese bank account. Any period after that requires a user to link their account to an account with a Chinese currency. It is a safe, frictionless, and accessible payment solution that allows the growth of businesses and opportunities.
The platform offers a fast, convenient and cheap solution for payment transfers.
It charges a merchant fee of 0.55% for every purchase. All internal transactions are free. However, external transactions beyond RMBY20,000 incur a 0.1% charge.
Transaction speed for AliPay
It offers an instant transaction speed for various transactions. The completion of a transaction is dependent on the agreement period between parties due to the escrow service. Many users opt for AliPay due to the rapid transfer speed with the QR codes.
1. Open the AliPay app and scan the QR code available as a deposit option
2. Confirm the amount to deposit and enter
3. Approve the transaction by inputting your PIN code on your mobile device as your verification method.
Which are the main countries where AliPay is used?
It is dominantly used in China with the adoption of mobile payment solutions in the country. After its dominance in China, it has expanded to about 110 countries. These include the United States, United Kingdom, Germany, Spain, and Italy. However, the application is banned in India due to a dispute with its origin country, China.
Can you buy Bitcoin with AliPay?
Yes, lots of people use method AliPay as their preferred deposit method when buying Bitcoin. You can too. However, it’s also possible to buy Solana and BNB among other cryptocurrencies with this or other deposit method.
Can you purchase Ethereum with AliPay?
Yes, Ethereum is one of the preferred cryptocurrencies to purchase through Alipay. In less than 30 seconds, you can purchase Ethereum with the Chinese favourite – Alipay.
Can you withdraw with AliPay?
Yes, the platform allows its users to withdraw all or part of the funding from the platform. The withdrawal methods available to users include banks, financial institutions, and payment providers. These include peer-to-peer platforms such as LocalBitcoins, Paxful, and Binance.
How is the reputation of AliPay?
The platform is a fast, convenient and affordable payment solution for its users. Its use of a QR code scanner enables seamless transactions. It gained popularity in China with more than half of the population being users. Overall, it has over a billion users which enhances its reputation. It allows settlement with over 10 currencies which increases its accessibility to other parts of the world. The recent uptake of accounts without Chinese currency was a welcome for tourists. However, it is only limited to 90 days, after which users are required to link their accounts to a Chinese bank account. In addition, buyers are pleased with the buyer protection of AliPay. Buyers receive a full or partial refund if the goods do not match the seller’s description. However, there is concern over the consumer spending data that AliPay accesses. Users on some online forums also highlight the risk associated with the platform not being insured by FDIC.
Alipay is the second-largest mobile payment solution in China. The main alternative to AliPay is WeChat Pay – the largest payment provider in China.
Below are the most frequently asked questions about AliPay when it comes to crypto deposits. Still got any question? Feel free to contact us!
Is it safe to use AliPay for cryptocurrencies?
It has advanced technology to secure users’ accounts and uphold privacy data. It also offers an escrow service that secures transactions until an agreement is reached between buyers and sellers.
It is advisable to countercheck details of the QR code as a buyer or merchant before confirming transactions. It saves users from the possibility of scams. You can use official links such as those provided by Crypto lists and avoid spam.
How do I set up AliPay?
You can undergo the following process in setting up the platform:-
Download the AliPay app and sign up with your phone number
Set up a password and enable verification through Touch ID or PIN code.
Add your bank account card.
Enter your Bank Card Information, including your name and other information.
Verify your phone number and other information registered with your bank.
You can now make payments with your bank card details.
Is AliPay instant?
The platform offers instant payments through its QR code scanning. It is among the reasons for its popularity.
When was AliPay founded?
Jack Ma founded the platform in 2004.
Where is the mother company based?
Ant Financial is based in Hangzhou, China, and is the mother company of the platform.