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How to Safely Start Cryptocurrency Investing with Just $100 as a Beginner
Step 1: Create and verify your Binance account
1. Sign up: Go to the Binance website or download the Binance app. Click "Register" and complete the necessary information to create your account.
2. Verification: Complete the KYC (Know Your Customer) process by providing the required identification documents. This is necessary to increase your withdrawal limits and improve account security.
Step 2: Secure your account
1. Enable Two-Factor Authentication (2FA) – Set up 2FA to add an extra layer of security to your account.
2. Use a strong password: Make sure your password is strong and unique.
Step 3: Deposit funds
1. Deposit fiat money: If you have USD or other fiat currency, you can deposit it to your Binance account via bank transfer, credit/debit card or other available methods.
2. Deposit Cryptocurrencies: If you already have any cryptocurrency, you can deposit it to your Binance wallet.
Step 4: Buy cryptocurrency
1. Navigate to Markets: Go to the “Markets” section to view available trading pairs.
2. Choose a trading pair: If you deposited USD, you can choose a pair like BTC/USD or ETH/USD. For $100, you could consider purchasing smaller amounts of more affordable cryptocurrencies like BNB, ADA, or DOT.
5: Manage your investment
1. Diversify: Even with $100, you can split your investment into different cryptocurrencies to spread the risk.
2. Stay informed: Stay up to date with market news and trends to make informed decisions.
Step 6: Secure your investments
1. Withdraw to a wallet: Consider transferring your cryptocurrencies to a secure wallet (hardware wallet or trusted software wallet) for long-term storage.
2. Monitor your portfolio: Regularly check your investments
Tips for beginners
- Education: Continually educate yourself about cryptocurrencies.