Key points
Binance is trusted by over 200,000,000 users worldwide. If you want to join a growing community, register on Binance today and start investing and trading in minutes.
To start using Binance, create an account, go through verification and select a payment method to purchase cryptocurrencies.
You can buy cryptocurrencies on Binance using credit/debit cards, bank transfers, and peer-to-peer transactions.
To protect your Binance account, you should use strong passwords, two-factor authentication, and an anti-phishing code.
Introduction
A Binance account gives you access to the world of blockchain, cryptocurrencies and Web3. This guide will give you everything you need to get started on the Binance exchange. All you need to do is follow a few simple steps: create an account, confirm your details, select a payment method and receive crypto assets.
How to create an account on Binance
Before purchasing your first Bitcoin or BNB, you must create an account.
1. Go to the Binance home page and click “Register” in the top right corner.
2. Enter your email address and choose a strong password. If you wish, you can register using your mobile phone number.
3. Enter the 6-digit verification code received via email or phone number and click Next.
4. Create a strong password containing at least 8 characters, 1 number and 1 capital letter. Do not reveal your password to anyone.
5. After verification, you can start setting up your Binance account. You are already one step closer to buying cryptocurrency - let's take a closer look at this process.
How to buy cryptocurrency on Binance
Before purchasing cryptocurrencies on Binance, you must complete Know Your Customer (KYC) verification. It helps ensure that you are who you say you are and meet our legal requirements.
Once you have verified your identity, you can start purchasing cryptocurrency in a variety of ways.
1. Credit/Debit Card: The easiest option for new users.
2. Transfer funds to fiat and spot wallet: Transfer fiat currency from your bank account and use it on the exchange.
3. Binance P2P: Buy cryptocurrency directly from other users using Binance's peer-to-peer service.
Buying cryptocurrencies with a credit/debit card
1. Click on “Buy Cryptocurrency” in the top menu and select “Buy and Sell”.
2. Select the fiat currency to pay and the coin you want to buy. Click on the “Add new card” button and enter the card details.
3. After entering the card details, click “Confirm”. Please note: You can only use a credit or debit card registered in your name.
4. Check the order details. The exchange rate and commissions can be viewed by clicking on the button with three dots.
5. If you have read and agree to the Terms of Use and Privacy Policy, check the box. Click "Confirm" to complete the payment.
6. The purchased cryptocurrency will be credited to your Binance Spot wallet. As a rule, you can get from creating an account to this stage in 10 minutes or less.
How to trade cryptocurrencies on Binance
How to start trading cryptocurrencies? If you are not used to the traditional trading interface, we recommend using the Binance Convert feature.
1. To open Binance Convert, on the Binance home page, hover over the “Trade” button and select “Conversion and Large Trades”.
The conversion feature allows you to select the cryptocurrency pair you want to trade using a simple interface. If you want to withdraw cryptocurrency or buy it for fiat, conversion can also be carried out between fiat currencies.
2. Select the coin you want to exchange and enter the quantity. Next, select your target cryptocurrency or fiat currency. Please note that the default setting is Market. This means you will receive the current market price, also known as the spot price.
3. Confirm your selection and click the Preview button to view a summary of the deal.
If you agree to the terms, click “Convert” to confirm the order.
4. If you want to create a limit order, select the "Limit" option from the top menu. A limit order allows you to buy or sell an asset at a specified price or better.
In our example, we place a limit order to exchange 50 USDT for the equivalent amount in BNB when the price of BNB drops to 610 USDT.
How to Use the Binance Spot Market Interface
1. Find the “Trading” section in the top menu and click on “Spot”.
2. You will be redirected to the Binance Spot Trading page.
3. On the left is the order book.
Sell (ask) orders are marked in red.
Buy orders (bids) are highlighted in green.
4. In the center there is an interactive chart of the selected trading pair. In our example, this is BTC/USDT.
5. On the right is a list of all trading pairs available on Binance. Use the search function to find the pairs you need.
6. You can create buy and sell orders under the chart. Before this, you need to top up your spot wallet.
7. For example, when buying BTC with USDT, you must first deposit USDT into your spot wallet. Click on the “+” icon to top up your balance and select the desired method.
How to buy BTC with USDT
1. Select the order type. A limit order allows you to set a specific price for an order (it may differ from the current one). A market order will attempt to fill the order as quickly as possible at the current market price.
2. When using a limit order, you must enter the price and purchase amount, and then click “Buy BTC.”
3. A notification will appear in the upper right corner of the screen. Open limit orders can be tracked at the bottom of the trading interface.
4. If BTC reaches the specified price, the order will be executed.
How to sell BTC for USDT
The process for creating a sell order is similar. In this example, we will use a market order and show you how to sell BTC for USDT.
1. Select the order type, enter the amount and click “Sell BTC”.
2. Since we are using a market order, the sell order will be placed immediately and, if there is sufficient liquidity, immediately executed at the best market price.
Learn more about spot trading and the Binance interface in the Binance Spot Trading Guide.
How to protect your Binance account
Using strong passwords and security features will help keep your funds safe. To get started, be sure to follow these steps.
Create a strong password and change it regularly
This seems obvious, but you'd be surprised at the number of people who still use simple, easy-to-remember passwords. Your password should always contain uppercase and lowercase letters, as well as numbers and other symbols. And, of course, you must be sure that it is stored securely and is not known to anyone except you.
Enable two-factor authentication (2FA)
We strongly recommend that you enable two-factor authentication (2FA) for your account. It creates an additional level of security. Even if hackers find out your password, they will need access to your physical device, which is linked to 2FA, to log in.
To get started, you can use the Google Authenticator app or SMS authentication. This process is discussed in more detail in the article “Guide to Two-Factor Authentication on Binance.”
Connect Binance Anti-Phishing Code
If you add an anti-phishing code to your Binance account, it will appear at the top of every email from Binance. This code can be set manually from a set of letters or numbers.
This way, you can be sure that the message you receive actually comes from Binance and not from a fraudulent email address. In other words, this code helps prevent phishing attacks.
For more information on security, check out How to Protect Your Binance Account: 7 Easy Steps.
Finally
Once you create an account on Binance, you can make trades and explore the world of cryptocurrencies. And it is not limited to just buying and selling on the stock exchange! We understand that trading can be difficult to understand at first, which is why Binance Academy has plenty of articles and guides to help you use trading tools and create your own strategies.
Recommended reading
Guide to Spot Trading on Binance
What is the Binance P2P platform and how to use it
Guide to Copy Trading on Binance
How to Protect Your Binance Account: 7 Easy Steps
Disclaimer: As required by MiCA, EEA users will be subject to certain restrictions when dealing with unauthorized stablecoins. Additional information is available at the link.
Risk Warning and Disclaimer: The following materials are provided “as is” without warranty of any kind for general reference and educational purposes only. This information should not be considered financial advice, legal advice, or a recommendation to purchase any specific product or service. You should seek your own advice from appropriate professional advisers. Since this article was written by a third party author, please note that the opinions expressed are those of the third party author and do not necessarily reflect the views of Binance Academy. For more detailed information please follow the link. The value of digital assets can be volatile. The value of the funds invested may go up and down. You may not get your invested funds back. You are solely responsible for your investment decisions. Binance Academy is not responsible for your possible losses. This information does not constitute financial, legal or professional advice. To learn more, please read our Terms of Use and Risk Disclosure.
