Binance is one of the most well-known cryptocurrency trading platforms on the market. As you are aware, it provides a wide range of benefits to users and is famous for its trustworthiness. Today, in this guide, we’ll go over how to buy on Binance, among other things. Buying, selling, or trading bitcoin on Binance does not need the completion of a university course. However, Binance is a complex-looking crypto exchange. If you’re new to it, it can get pretty confusing fast. However, after a brief introduction, all of your uncertainty should be gone. Once you finish this guide, you’ll be able to trade your coins on the site.
Why Should Learn How to Buy on Binance?
If you’re looking for how to buy on Binance, you know that this platform is the best choice. First, most individuals who research how to buy on Binance do so since this platform offers a large variety of cryptocurrencies. As for this guide’s authoring, the site supports over 150 different cryptos and altcoins. These crypto coins contain all of the world’s biggest cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.) and a variety of more-niche coins. It’s one of the reasons why Binance is superb for pro traders looking to diversify their asset portfolios.
While Binance is one of the perhaps more perplexing cryptocurrency exchanges out today, this is just due to its various options to its consumers. On Binance, for example, you may buy Binance BTC directly from the platform or exchange it with other users.
When purchasing cryptocurrencies on the site, you’ll notice yet another significant advantage of Binance: you can do this using a credit or debit card. That is crucial! You won’t find such services on many other cryptocurrency exchanges – the closest you could get is bank transfers, but even they are less handy than purchasing with a card.
Binance, to be sure, has a lot to offer the typical cryptocurrency trader. While most rookie traders find its interface design and feature diversity to be burdensome, that is where our “How to Buy on Binance?” guide comes in!
How To Buy On Binance: Two Alternative Methods
When researching how to buy on Binance, you’ll discover that there are two options: acquiring cryptocurrencies via the platform itself or exchanging with another individual. Don’t worry! We’ll go through both of these approaches. Let’s start with the most common and see how to buy on Binance using a credit or debit card.
Credit / Debit Card Payment Method
The following is a step-by-step instruction on how to buy on Binance:
Step 1: First, sign in to your Binance account. If you don’t already have an account, register on the site – the registration procedure is concise and straightforward, but for consistency and simplicity, I’ll assume you do.
Step 2: After you’ve logged in, go to the upper-right corner of your screen. Locate the “Buy Crypto” button and hover over it. You’ll see up to five different crypto purchasing options: bank deposits, credit/debit cards, peer-to-peer trading, cash balance, and third-party payments. Choose “Credit/Debit Card.”
Step 3: If you’re wondering how to purchase on Binance since you’ve heard it’s a complicated procedure, don’t worry – doing so with a credit/debit card is straightforward. This is clear from the screen that appears after selecting the previously stated option – it’ll take you to a website where you can then enter the amount of money you wish to spend on your Binance BTC buy.
Step 4: Once you’ve decided how much money you want to spend, click “Buy” – you’ll be requested to authenticate your account at this point in the shopping process. Select “Verify Now.”
Step 5: On the verification screen, you will notice that you must authenticate your identity with Binance before making your first transaction. This includes entering your legal first and surname name, date of birth, and residence address and uploading a photo of your ID, and snapping a selfie. This is all a normal process.
Step 7: Once you’ve completed all of the preceding steps and selected the amounts of Binance BTC that you want to buy on Binance and validate your account, all that remains is to review the order summary and finalize it!
So, that’s how to use a credit or debit card to buy on Binance. Simple, quick, and painless. However, there is another option: exchanging with another cryptocurrency holder.
The Trading Strategy
This method is likely to be the most difficult if you’re a rookie trader. The remainder of the options are self-explanatory and will follow a similar pattern to how to buy on Binance with a credit or debit card. So, getting back on topic, how do you buy on Binance while trading with other users?
Step 1: Navigate to the upper half of the window and hover over the “Trade” button from the website’s homepage.
Step 2: Here, you’ll notice a variety of alternatives appear. All of these are associated with a particular style of trade that you can engage in. It’s a fantastic feature since if you’re a newbie, you can use the basic or classic interfaces, while more experienced traders may use the advanced version of the platform. Assuming you’re just getting started, go ahead and select “Classic.”
Step 3: Admittedly, the screen interface will look scary at first. I’m here to advise you not to worry! Everything is more accessible than it appears. The BTC values are constantly changing on the left. At the top are 24-hour highs, lows, volumes, and overall fluctuations. You can observe candlestick charts, market traders, and other comparable data. However, you should draw your attention to the bottom of the page.
Step 4: You will now see your trade interface. You can trade using the “Limit,” “Market,” or “Stop-limit” settings. If you’re just learning how to purchase on Binance, “Limit” and “Stop-limit” may be a little confusing – instead, focus on the “Market” tab. With the “Market” option, you will be able to acquire BTC at the current price. You may eliminate all of the effort and intricate computations if you want.
You’ll also choose how much USDT you wish to spend on Bitcoin here. You can spend 14, half, 34, or even all of your USDT on BTC. It’s as simple as choosing the proper quantity and clicking “Buy BTC”!
You should now be much more aware of queries like “how to buy on Binance BTC, ETH, etc.”
Binance, as you’ve undoubtedly observed throughout this article, isn’t all that daunting, especially if you’re just getting started. Don’t get me wrong: it may be highly complicated, especially if you have no prior expertise with asset trading or investing and come across the “Advanced” trading windows. Binance is still an excellent cryptocurrency exchange platform. It allows you to deposit funds through credit/debit cards, bank transfers, and other methods.