In this guide we will show you how to buy crypto on Binance. Binance is the largest centralised crypto exchange in the world. It’s a platform that allows you to buy and sell crypto, NFTs, trade derivatives, and more. Divided up into two global divisions: Binance US for those residing in the United States and Binance International accessible to those elsewhere in the world. This tutorial will show you how to buy crypto on Binance International.
Table of Contents
How to Create a Binance Account
First things, first – to be able to trade on the platform, you will need to create a Binance account. You can register for a Binance account from the Binance website, mobile app, or Binance desktop app.
To create an account you will be required to provide your:
- Email address
- Phone number
- Photo identification
Are you in the US? We recommend you read this article: Binance US legit? | the real review 2022
1. Register with Binance
Go to the international BINANCE WEBSITE (You will get 10% off fees by using this link) and click ‘Register’.
2. Choose location
Select your current location of residence from the list and click ‘Confirm’. Please note that the steps that proceed may change depending on the country you’re based in.
3. Choose account
Click ‘Create Personal Account’
4. Enter account details
Enter your email address and create a password for your Binance account. Set your marketing preferences by either ticking the boxes to opt in or unticking the boxes to opt out.
5. Email verification
Verify your email address by clicking ‘Get code’. The code is valid for 30 minutes. Enter the 6-digit verification code into the box that has been sent to your email address. Then click ‘Submit’.
6. Enter phone number
Enter your phone number and click ‘Next’.
7. Phone verification
Verify your phone number by clicking ‘Get code’. The code is valid for 30 minutes. Enter the 6-digit verification code into the box that has been sent to your phone number. Then click ‘Submit’.
You’re almost there!
8. Verify account
Verify your identity by clicking ‘Verify now’
9. Personal information/identity verification
Complete the following fields and hit continue.
10. Proof of address
Complete your address details and click ‘Confirm’
11. Wait for review
Wait for your account to be verified, please see estimated completed date as a guide. In the meantime, click ‘Back to home.’
How to Fund your Binance Account
Once your account is verified, you’ll need to fund your account with fiat currencies. Binance supports more than 60 fiat currencies and multiple payment methods.
1. Fiat & spot
Click ‘Wallet’ and ‘Fiat and Spot’
2. Deposit
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3. Deposit
Select ‘Fiat Deposit’
4. Select currency
Select the currency you’d like to buy with and the payment method. Binance supports bank card and bank transfer.
5. Payment details
Enter your payment details and follow the instructions. Double-check your details are correct before submitting the payment.
6. Deposit amount
Enter the amount you’d like to deposit.
How to Buy Crypto on Binance (and sell it)
Now that you’ve funded your account, we can go shopping for crypto!
Navigate to ‘Trade’ and you’ll see there’s multiple different trading dashboards to choose from. ‘Convert’ allows you to swap your cash for crypto in one step, ‘Classic’ is the basic order book setup and trading screen, and ‘Advanced’ gives you full access to all trading features.
In this example, we will be using the Classic dashboard to buy our crypto.
1. Dropdown menu
Select ‘Classic from the dropdown menu.
2. Pick your trading pair
Pick the desired trading pair from the panel on the right-hand side of the screen. For the following example, we’ll be using the ADA/GBP pair.
3. Go to buy/sell section
Next, you’ll need to scroll down to the bottom of the page, to the buy/sell section.
You can either type in the amount you’d like to buy in either currency, or you can use the provided sliding scale. This allows you to increase and decrease the size of your buy in increments.
You’ll also notice that the current balance in your wallet will be visible on the right-hand side of the buy section. Once you’ve selected the desired amount you’d like to buy, click ‘Buy ADA.’
For those trading from either the UK or Europe, you will need to grant access to Bifinity Digital Wallet, powered by Skrill Limited.
Once the transaction is complete, you’ll see a quick pop-up notification box in the top right-hand corner of the screen, to confirm this.
4. View wallet
To view the crypto in your wallet, click ‘Wallet’ then ‘Fiat and Spot’ and scroll down the page until you see your crypto balance.
5. Selling crypto
To sell your crypto, head back to the ‘Classic’ trading dashboard. Scroll down to the buy/sell section.
Again, you can either type in the amount you’d like to sell in either currency, or you can use the provided sliding scale. This allows you to increase and decrease the size of your sell in increments.
Once you’ve selected the desired amount you’d like to sell, click ‘Sell ADA.’
Now you know how to buy crypto on Binance!
It’s that easy! You can now buy and sell your crypto on the Binance exchange.
Interesting read: Binance vs Coinbase – Review 2022
Rebecca is a crypto investor and content writer based in the UK.
She specializes in breaking the news into bite size pieces and simplifying investing topics.
You will find her on Twitter and Instagram providing crypto and investing education.
