Key Points
Binance is trusted by over 200,000,000 users worldwide. If you want to join this growing community, add a Binance account today and start investing or trading in less than a quarter.
To start using Binance, you need to create an account, complete identity verification and select the Binance payment method. Binance registration button
You can buy cryptocurrencies with Binance in a variety of ways, such as credit/debit card, bank transfer, or peer-to-peer (C2C) transactions.
To ensure the security of your Binance account, be sure to use a strong password, enable two-factor authentication, and set an anti-phishing code.
Introduction
A Binance account is your simple gateway to the world of blockchain and Web3, and the best place to start your cryptocurrency trading journey. This guide will teach you how to get started with the Binance exchange. The steps are very simple, including account creation, completing identity verification, selecting a payment method, and obtaining crypto assets.
How to create a currency account
Before you can buy your first Bitcoin or BNB, you must have an account.
1. Click [Binance registration button]
2. Enter your email address and choose a secure password. If you wish, you can also register using your mobile number instead of email.
3. Enter the 6-digit verification code received via email or mobile phone number, and then click [Next].
4. Create a strong password that contains at least 8 characters (including at least 1 number and 1 uppercase letter).
5. Once you have completed the identity verification, your Binance account is set up. Now you are only one step away from buying coins. Next, we will show you how to complete your first coin purchase transaction.
How to verify your Cryptocurrency account
Binance always puts security as its top priority. Although we will do our best to ensure the security of your account, users can also contribute to significantly improving the security of their account.
In this article, we will introduce a variety of simple account protection measures and some good habits that must be developed. User account security is also in the interest of Binance. With the rapid development of the blockchain industry, creating a more secure circulation environment has endless benefits.
So, what measures can we take to improve the security of our personal Binance accounts?
1. Set a strong password and change it regularly
It sounds simple, but it is a step to protect your Binance account. You should set different strong passwords for all accounts in the network. Asset accounts such as Cryptocurrency trading platform accounts should be strictly protected. Ideally, these passwords should be more than eight characters long and contain letters, numbers, and special characters.
One of the best ways to generate, manage and store passwords is with a password manager. Tools allow you to securely and conveniently save and manage different password mechanisms in one place. Most password managers use sophisticated encryption to provide additional protection. You must use a trustworthy password manager software that allows you to set a strong master password.
Setting a strong password is just a good start, and it does not mean that you can rest assured once and for all. Cyber attackers attempt to steal passwords in various ways, and changing passwords regularly is a good habit to resist attacks. This measure is not only applicable to Binance accounts, but can also effectively protect the email addresses associated with Binance accounts.
Speaking of emails, we recommend that different accounts should be registered with different email addresses, which can effectively reduce the potential risk of data leakage. Especially for accounts registered with email addresses for a long time, data leakage is very likely to occur in the middle. If you set up dedicated email addresses for each service, you can significantly reduce the possibility of multiple single email addresses affecting accounts at the same time. Have I Been Pwned is a very useful tool to check whether personal accounts have caused data leakage.
Please note that once the password has been changed, funds will not be withdrawn for the next 24 hours. This prevents potential attackers from gaining access to stolen victims' funds simply by changing their passwords.
2. Turn on two-factor authentication (2FA)
After your Binance account is created and your identity is complete, the next task is to activate two-factor authentication (2FA). Binance supports two types of two-factor authentication (2FA): SMS and Google Authentication. We recommend using the second one — — our Google Authenticator. Be sure to record the reset key so that you can use the two-factor authentication (2FA) code on your new phone.
Although SMS authentication is convenient, it is less secure than Google Authenticator. SIM hijacking attacks are a real threat and many high-profile accounts have been victimized. In 2019, Twitter CEO Jack Dorsey fell victim. The attacker was able to take full control of his Twitter account, which had millions of followers.
These are not the only ways to protect your account with two-factor authentication (2FA). We will briefly cover another method called Universal 2nd Authentication (U2F) authentication. It uses a secure hardware device account security. This tool is also supported.
3. Check whether the account has permission to use all devices
You can check whether you have permission to use all devices of your Binance account in the Device Management tab. In the Binance app, this tab is under the "Account" tab.
If you find a device that you don't know or no longer use, you must delete it. Once deleted, the device will not be able to access the account unless you confirm and reauthorize it via email. As discussed above, the security differences of email accounts.
You can also check account activity, i.e. the IP addresses that logged into the account and the time of login. If you find anything suspicious, cancel the account immediately. This will suspend all transactions and withdrawals, delete all API keys, and gain access to all account access devices.
4. Manage Address
Your Binance account has a security feature called Address Management. It allows users to set wallet addresses where funds can be withdrawn. After enabling this feature, all added addresses must be confirmed by email before they can be added to the reagent withdrawal whitelist.
Once again, keeping your email account secure is critical! It is the foundation of online account security.
Still wondering which cryptocurrency wallet to deposit your withdrawn funds into? We use Trust Wallet, a secure software wallet that is perfect for mobile phones. You use a hardware wallet to store your private keys offline.
5. Heard about phishing
Phishing is a cyber attack method in which criminals attempt to impersonate others (such as companies) to obtain personal information. This is also the most common attack method at present. You should always be vigilant and prevent it before it happens.
Generally speaking, it is recommended to access Binance through a saved tab and manually enter the address each time you log in. If you haven't already added the Binance official website to your tab, add the following link now: https://www.binance.com. Simple measures can prevent many scam Binance websites from tricking you into entering your account information.
With the Anti-Phishing Code feature, you can set a practice code and enter it into all notification emails sent by Binance. After enabling the Anti-Phishing Code, you can use it to determine whether the notification emails you receive are authentic. For more information, please read our Anti-Phishing Code Guide.
6. Follow API security guidelines
The Binance API is a great way to help more advanced traders maximize their experience using the Binance trading engine. The Binance API allows users to customize their trading strategies.
However, using API keys requires sharing data with external applications, which also poses risks. Therefore, when using the Binance API, you should consider IP address-based access restrictions. Only whitelisted IP addresses will have access. In addition, APISSH should also be updated regularly to avoid leaks.
7. Use Universal 2nd Factor (U2F) Authentication
Binance supports U2F-compatible authenticators, such as the Yubico YubiKey. These devices only gain access to your account once they are plugged into a computer or configured wirelessly.
You might think of this as similar to Google Authenticator, but instead of software, it's a hardware device that you'll need physical access to access your account.
How to Buy Cryptocurrency with Binance
Before you can purchase a crypto identity on Binance, you will need to complete the KYC verification process. KYC helps verify that your identity is genuine and meets our legal requirements.
Once identity verification is complete, you will be able to buy crypto currencies through different methods.
1.Credit/Debit Card: The easiest way for new users to buy coins.
2. Fund your fiat and spot accounts: Transfer fiat currency from your bank account and use it on the Binance exchange.
3. Binance P2P: Use Binance peer-to-peer service to purchase cryptocurrencies directly from other users.
Buy coins using a credit or debit card
1. Click [One-click Buy Coins] in the top menu, then select [Buy & Sell].
2. Next, select the type of fiat currency you want to pay and the currency you want to purchase. Click the [Add New Card] button to continue adding bank card information.
3. Enter your bank card information and click [Confirm]. Please note that you can only use your registered credit or debit card.
4. Please recheck the order details. You can click the three-dot button […] to view the exchange rate and handling fee.
5. If you have read and agreed to the Binance Terms of Use and Privacy Policy, please confirm the rest. When everything is ready, click [Confirm] to complete the payment.
6. After completing the process, the purchased cryptocurrency will be transferred to your deposit coin and spot accounts. It usually takes no more than 10 minutes from personal account to complete the coin purchase.
How to Trade Cryptocurrency on Binance
At some point you may want to start trading cryptocurrencies. If you are not comfortable with traditional trading interfaces, we recommend using the Binance Instant Exchange feature.
1. Go to the Binance homepage, hover over [Trade] in the top menu, and then select [Instant Exchange & Block Trade] to enter the instant exchange page.
With the "Quick Exchange" tool, you can select the cryptocurrency you want to trade through a simple interface. This tool also supports cashing out to fiat currency or buying cryptocurrencies with fiat currency.
2. Select the currency you want to pay in the upper field and enter the amount. Select the cryptocurrency or base currency you want to receive in the lower field. Please note that the default setting is [Market Price], which is the current market price for your flash payment transaction, also known as the spot price.
3. Confirm your selection and click [Make an Appointment to View the Flash Exchange Results]. You can also proceed with the next transaction.
If you are satisfied with the details displayed on the preview page, you can click [Quick Exchange] to confirm the order.
4. To create a limit order, select the [Limit] option in the top menu. A limit order allows users to buy or sell cryptocurrencies at a specific favorable price for the currency.
In the example below, we are about to reach the next cancellation price, and this order will convert our 50 USDT into an equivalent amount of BNB when the BNB price drops to 610 USDT.
How to complete the transaction
Spot trading is one of the simplest traditional methods of buying and selling financial assets.
Binance spot trading platform has higher transaction fees, strong liquidity, and provides a user-friendly interface, suitable for all types of traders.
This guide explains the basics of spot trading, introduces the user interface of Binance Spot, and guides users to easily buy and sell cryptocurrencies.
Spot Trading
Spot trading is an instant and direct form of trading where trades are settled instantly and without any leverage. It is a form of trading that can be used for a variety of asset classes such as cryptocurrencies, stocks, commodities, forex, bonds, etc.
Although spot trading can take place directly between traders, the trades themselves are usually initiated by exchanges such as Binance.
What is the difference between the spot market and the contract market?
The spot market executes immediate or short-term transactions for immediate delivery, while the contract market involves contractual relationships that set a forward delivery date. Spot transactions rely on current market prices determined by supply and demand. In contrast, futures contracts are based on the agreement between buyers and sellers.
What is the difference between spot trading and leverage trading?
Spot trading requires the purchase of all assets and immediate delivery, while leveraged trading allows borrowing funds to establish larger positions. Leveraged trading will amplify potential profits and losses, but the risk is increased and the return is reduced.
Spot trading investors
Lower risk: The spot market only involves buy orders, so there is no need to worry about forced liquidation or guaranteed additional funds. This type of trading is very suitable for users who want to buy and hold.
Simple and clear: Spot trading is simple and clear, with people involved, which is very suitable for beginners.
Instant opening and closing of positions: Traders can enter or exit trades at any time.
How to start spot trading on Binance?
The following example is an operation on the Binance spot interface. We first illustrate how to use USDT to buy BTC through a limit order, and then illustrate how to sell BTC in exchange for USDT through a market order.
How to access the Binance spot interface
1. Log in to your personal Binance account and click [Trade] → [Spot Trading].
2. You will be redirected to the Binance trading interface.
3. The crossroads show the order book. Sell (Ask) is red and Buy (Bid) is green.
4. The trading chart in the middle is the dynamic chart of the selected trading pair. Here we take BTC/USDT as an example.
5. On the right is a list of trading pairs, which includes all trading pairs that can be traded on Binance. Use the "Search" function to find a specific trading pair.
6. Below the chart is the area to create buy and sell orders. Before placing buy and sell orders, please top up your spot wallet.
7. If you want to buy BTC with USDT, you need to deposit USDT into your spot wallet first. Click the [+] icon to deposit money into your account and select your preferred method.
How to buy BTC with USDT
1. The first step is to select the order type. A limit order is one that increases the specified order price (not necessarily the current price). A market order is one that executes the order at the current real-time price.
2. If you use a limit order, please set the price and quantity you want to buy, and click [Buy BTC] to create the order.
3. A notification indicating that the order has been successfully created will be displayed in the upper right corner of the screen.
Please note that traders can track their current orders at the bottom of the trading interface.
4. When BTC reaches the order price, the order will be executed.
How to sell BTC for USDT
The process of creating a sell order is similar. The following is an example of selling BTC for USDT. This example uses a market order.
1. Select the order type, set the quantity and click [Sell BTC].
2. After using the market order, the sell order will be created and executed immediately at the market price.
View order details
Traders can view historical orders, historical transactions and other details at the bottom of the trading page.
Click the "Edit" button next to "Price" and "Quantity" to edit the current order.
Click the order icon on the right to cancel a single order, or click [Cancel All Orders] to cancel all current orders.
7 simple steps to protect your Binance account
Conclusion
Thank you for reading Xiaocai's article. I hope it can help you have a good start and a good investment on the Binance trading platform! Binance registration button
