The bin file type is often associated with image files and software keys. Bin files used with the Sony PlayStation Portable (PSP) are used with the latter of these. Bin software keys are used with the use of PlayStation1 (PS1) titles that are compatible with the PSP. To use these bin files, you need simply place it on the correct path on the PSP memory stick.
Connect your PSP to your computer with your USB cable and select "USB Connection" from the PSP main menu. A window will appear on your computer and you will see the files on the PSP memory stick.
Right-click the PS1 game folder that contains the bin file and click "Copy" from the menu that appears. Go into the PSP memory stick from the computer and open the "PSP" folder. Right-click the "GAME" folder and click "Paste" to transfer the PS1 folder to the PSP.
Press the "O" button on the PSP to safely disconnect it from your computer. Go into the PSP's game section and select the PS1 game that is displayed there. The game will start with the PSP reading the bin file as a way to verify that the game is valid.