In this guide you will learn: how to register on the exchange Binance, learn how to buy crypto with a plastic card and also make your first transaction on P2P!
How to register
Creating an account on Binance
The interface of Binance is translated into 41 languages. And if you visit it for the first time, most likely you will open the English version. Accordingly, before you start registration on the exchange Binance you need to set the desired language. To do this, in the upper right corner, click on the button “English”, and in the window that appears find the desired language. In the same menu you can also choose the appropriate fiat currency.
Once you are on the home page, click the Register button in the upper right corner.
In the next window, the first thing to do is to choose the country of residence from the proposed list.
Then click Confirm and fill in the following fields:
- specify your email (or cell phone number);
- think up a password (minimum 8 symbols, one capital letter and one digit);
- tick “I have read and agree with Binance Terms of Service”.
After completing all the data, you need to click Create account.
After that an e-mail will come to the specified e-mail address with an activation code, which must be entered in a special form.
After confirming your email, you will be asked to do the same operation with your cell phone number.
At this stage, the account is considered to be registered, but for you to have access to all the features of the account, you need to verify your identity. To do this, you must specify:
- FULL NAME;
- date of birth.
After filling out the basic data, you will need to go through the final stage of verification. To do this, follow these steps:
- upload your identification document;
- upload a photo that clearly shows your face (selfies);
- do facial verification by following the prompts. This is done using the camera on your PC or smartphone.
After verification, you will have access to all services of Binance, as well as the ability to deposit/withdraw funds via bank card.
There is also an “extended” verification on the Binance exchange. To pass it, it is necessary to provide additional documents to confirm the address. After that, the limit on the use of fiat currency will be increased to $200,000 per day.
Before depositing on the exchange, it is important to take care of the protection of the account. To do this, hover over the account icon from the home page and select “Security” from the drop-down menu.
On the page that opens, you can select one or more options to increase the protection of your account:
- Security Key. This is a physical USB device designed to store passwords. The exchange recommends YubiKey. To use this method, you need a separate registration in the corresponding service.
- Google Authenticator. A special application that is used to withdraw funds securely and improve security.
- Secondary by SMS. If you set this option, you will need to enter a code from SMS when you log into your account and withdraw money.
- Email address. The e-mail address is initially set during registration, and you can change it through this menu.
- Manage Addresses. Here you can save white withdrawal addresses and write notes for each of them.
- Anti-Phishing Code. Allows you to make sure that emails come from the Binance exchange and not from a phishing service.
The same page has functions to change the password and track suspicious account activity, as well as an option to disable it.
There are three main ways to buy the first cryptocurrency, which we will consider in this article.
- Credit/debit card: the easiest option for new users.
- Transfer funds to fiat and spot wallets: transfer fiat currency from your bank account and use it on the exchange.
- Binance P2P: Buy cryptocurrency directly from other users using Binance’s peer-to-peer service.
Buying cryptocurrency with a credit/debit card
On the Binance home page, hover your mouse over the Buy Cryptocurrency button and select Credit/Debit Card.
Choose the currency currency and coin you want to buy. For the example I will buy Bitcoin for $50. Click Continue and enter card details for payment. You can also set up regular crypto purchases here through the Recurring Buy switch. This is very handy if you want to invest in crypto through DCA (Dollar cost average) strategy.
Now you need to enter your credit or debit card information. Confirm the amount and then click Add New Card. I already have one card added, so I’ll give you an example on adding a second card.
Enter the card details and click Next. Fill in the address and add a card.
Please note: you can only use a credit or debit card registered in your name.
Agree to Bifinity’s terms and conditions, click Confirm.
Once the process is complete, the cryptocurrency you purchased will be credited to your spot wallet (the Fiat and Spot button). Usually it takes no more than 10 minutes to create an account and proceed to this stage.
Using fiat currency on Binance
Binance supports many fiat currencies and multiple payment methods for each of them. The same process will be required for other cryptocurrencies, so once you learn you can easily start any fiat or crypto in the future!
Log in to your Binance account. Click on the “man” in the upper right corner. Expand the Wallet list and select Fiat & Spot.
Select the fiat currency you want to buy and the payment method. Binance supports credit/debit cards, bank transfers or your bank account.
Choose an amount and click Continue.
Enter the required data and follow the instructions.
Attention! Don’t forget to double-check the details before sending the payment.
Buy a crypto using P2P
Go to the Dashboard page, choose Payment and click Add a payment method.
Select Buy Crypto then click P2P Trading on the top navigation.
Click Buy (1) and select the currency you want to buy (USDT is shown as an example). Filter the price and the Payment (2) in the drop-down, select an ad, then click Buy (3).
Enter (1) the amount of currency you are paying for or the amount of cryptocurrency you want to buy and click Buy (2).
Confirm the payment method and amount (total cost) on the Order details page (it will open immediately after opening the order).
Complete the transfer transaction within the payment period. Then click Transferred, next and Confirm (in the drop-down window).
Note: You need to transfer payment directly to the seller by bank transfer, Alipay, WeChat or other third-party payment platform based on the payment information provided by the seller, no other! If you have already transferred payment to the seller, you should not click “Cancel” unless you have already received a refund from the seller in your payment account, otherwise you will not be able to claim a refund if anything happens. If you do not make the actual payment, please do not click the “Confirm” button to confirm the payment. This is not allowed according to the rules of the transaction. If you have any problems during the transaction, you can contact the seller using the chat window.
Once the seller sends the cryptocurrency, the transaction is complete. You can click the Transfer to Spot Wallet button (2) to transfer digital assets to your Spot Wallet.
You can also click Check My Account (1) above the button to view the digital asset you just bought.
Note: If you do not receive the cryptocurrency 15 minutes after clicking Transferred, next, you can click Appeal and Customer Service will assist you in processing the order.