Binance is the world’s largest cryptocurrency exchange by volume.
On Binance, you can buy and sell cryptocurrencies like Bitcoin and Ethereum.
The exchange has one of the lowest fees in the market starting at 0.1%.
Other exchanges like Coinbase have a 1.49% to 3.99% fee.
Binance has separate websites for certain countries.
This is to comply with local regulations.
For example, if you’re from Singapore, you can use binance.sg to buy cryptocurrencies.
On the other hand, if you’re from the US, you can use binance.us instead.
You can also use binance.com, which is the main website for Binance.
The difference between these three websites is the number of supported cryptocurrencies, trading fees, depositing, order types, and withdrawing.
In this tutorial, you’ll learn how to use Binance by creating an account, verifying your identity, and buying a cryptocurrency.
How to use Binance
To use Binance, you need to create an account and verify your identity.
Once you’ve verified your identity on the exchange, you can buy and sell cryptocurrencies.
Binance is available on the App Store and Google Play Store.
You can also use Binance on your desktop.
In this tutorial, we’ll use the Binance app instead of the website.
When you create a Binance account, you need to go through the Know Your Customer (KYC) process.
The process requires you to provide your information such as your address.
It also requires you to verify your identity by uploading the front and back of your ID.
If you don’t do this, you won’t be able to buy or sell cryptocurrencies on the exchange.
Here’s how to use Binance:
- Download the Binance app
- Create an account
- Complete the basic verification
- Complete the advanced verification
- Buy a cryptocurrency
1. Download the Binance app
The first step is to download the Binance app.
You can also use the desktop version of Binance here: https://www.binance.com/.
But in this tutorial, we’ll use the Binance app instead.
Binance is available on the App Store and Google Play Store.
2. Create an account
Get started on Binance here: https://www.binance.com/en/register?ref=73583477 or use “73583477” as the referral code.
After you’ve downloaded Binance on your mobile device, you need to create an account.
Firstly, open the Binance app and tap on “Sign Up / Log In”.
If you’re using Binance on a desktop, you can create an account using this link: https://www.binance.com/en/register?ref=73583477.
Next, tap on “Register” at the top of the page.
This will open the registration page.
On the registration page, enter your email address and password.
Then, tap on the “Referral ID” field.
On the “Referral ID” field, use “73583477” as the referral ID.
Next, tap on the arrow icon to proceed to the next step.
After you’ve entered your email address and password, you’ll land on the “Email Auth” page.
On the “Email Auth” page, you need to verify your email.
Open your email and check your inbox for the verification code.
If you’re unable to find it, make sure to check your spam or junk folder.
Alternatively, you can resend the code to your email after a minute.
Then, copy the verification code and paste it into the “Email verification code” field.
Next, tap on “Submit” to submit the email verification code.
3. Complete the basic verification
After you’ve verified your email, you need to verify your identity.
Verifying your identity takes about 2 minutes.
To buy cryptocurrencies, deposit, and withdraw fiat, you need to verify your identity.
You can skip this step and do it later, but it’s not recommended.
Firstly, tap on “Verify Now” to begin verifying your identity.
After you’ve tapped on “Verify Now”, you need to complete the basic verification.
Firstly, tap on the “Nationality” dropdown box and select your nationality.
Secondly, enter your first name, last name, and middle name.
Lastly, enter your date of birth and tap on “Continue”.
To use Binance, you need to be 18 years old and above.
After you’ve tapped on “Continue”, you need to provide your address.
This includes your street address, postal code, and city.
Once you’ve provided your address, tap on “Continue”.
4. Complete the advanced verification
After you’ve provided your information, you’ll land on the “Verified” page.
This means that you’ve successfully completed the basic verification.
However, you want to have full access to the features on Binance, you need to complete the intermediate verification.
To do so, tap on the “Go Verify” link above the “Back to Homepage” button.
After you’ve tapped on “Go Verify”, you’ll land on the “Intermediate Verification” page.
To complete the intermediate verification, you need to upload a document to verify your identity.
There are 3 options that you can choose from.
This includes your ID card, passport, or your driver’s license.
If you want to upload your ID, tap on “ID Card”.
Then, tap on “Continue” to proceed to upload your ID.
To verify your identity, you need to upload a photo of the front and the back of your ID.
Make sure that the photo is clear and centered.
Once you’re done uploading your ID, tap on “Continue”.
After you’ve uploaded your ID, passport, or driver’s license, you’ll land on the “Advanced verification Verified” page.
This means that you’ve successfully completed the advanced verification on Binance.
Now, you’ll be able to buy and sell cryptocurrencies on the exchange.
Tap on “Back to Homepage” to go to the homepage of Binance.
5. Buy a cryptocurrency
In this section, you’ll learn how to buy a cryptocurrency on the Binance app.
After you’ve created an account and verified your identity, you’ll be able to buy and sell cryptocurrencies.
Once you’re on the homepage of Binance, you’ll see a list of cryptocurrencies and their prices.
Tap on the reverse icon on the bottom navigation bar.
After you’ve tapped on the reverse icon, a navigation menu will open.
You’ll see several options such as “Buy”, “Sell”, and “Convert”.
If this is your first time using Binance, you’ll only see the “Buy” option.
Tap on “Buy” to buy your first cryptocurrency.
After you’ve tapped on “Buy”, you’ll land on the “Choose Crypto” page.
On the “Choose crypto” page, you’ll see a list of cryptocurrencies that you can buy.
Tap on the cryptocurrency that you want to buy.
For example, if you want to buy Bitcoin, tap on “Bitcoin”.
After you’ve tapped on “Bitcoin”, you’ll land on the “Buy Crypto” page.
On the “Buy Crypto” page, you need to enter the amount of cryptocurrency that you want to buy.
In this example, we’re buying Bitcoin, so enter the amount of Bitcoin that you want to buy using the number pad.
For example, if you want to buy $30 worth of Bitcoin, enter “30” on the number pad.
Then, tap on “Buy” to buy it.
After you’ve tapped on buy, you’ll need to select a payment method.
In most countries, you can only buy cryptocurrencies on Binance with a credit or debit card.
Hence, the “Pay with Card” option will be automatically selected.
Tap on “Confirm” to buy Bitcoin at its current price.
After you’ve tapped on “Confirm”, you need to provide your card information.
Binance supports Mastercard or Visa payments.
Firstly, enter the first and last name of your card.
Next, enter your card number, expiration date, and CVV.
Then, tap on “Next” to proceed to the next step.
After you’ve tapped on “Next”, you’ll need to provide your billing address.
Firstly, enter your address in the “Address” field.
Then, enter your postal code and city in the “Postal Code” field and in the “City” field respectively.
Lastly, select your country and tap on “Pay Now” to buy the cryptocurrency.
After you’ve bought a cryptocurrency, you’ll be able to see it in your portfolio.
For example, if you’ve bought Bitcoin, you’ll be able to see your Bitcoin balance in your portfolio.
You can navigate to your portfolio by tapping on the wallet icon on the bottom navigation bar.
You’ve successfully learned how to use Binance for a beginner to buy crypto!
Binance has various websites, so make sure to use the one that is dedicated to your country.
If you’re from Singapore, you can use binance.sg for ease of use.
The Binance Singapore website allows you to buy cryptocurrencies using SGD via Xfers.
If you’re from the US, you can only use binance.us, which has the same functionalities as Binance.com.
The process to create an account is similar across these websites.