Buying cryptocurrency on Binance typically involves a few key steps: creating and verifying your account, depositing funds, and then using those funds to purchase your desired crypto.
- Sign up: Create a free account on the [Binance website] or the app.
- Complete identity verification (KYC): This is a mandatory process for most Binance services to enhance account security and comply with global regulations. You’ll typically need to provide personal information and a government-issued ID (like a passport or driver’s license), along with potentially a selfie or facial recognition. Verification processing usually takes up to 48 hours, [according to Binance].
- Enable Two-Factor Authentication (2FA): Set up 2FA for added security using an authentication app like Google Authenticator or SMS verification.
You have several options for depositing funds:
- Bank transfer: Link your bank account and initiate a transfer. Make sure the name on your bank account matches your Binance account.
- Credit/Debit card: Add your card details and buy crypto directly. Binance may charge a 2% fee for credit card transactions.
- P2P trading: Buy crypto directly from other users using your preferred local currency and payment method. Binance’s escrow service helps secure these transactions. [One YouTube tutorial] outlines the process of buying crypto on Binance P2P.
- Deposit existing cryptocurrency: If you already hold crypto on another platform, you can transfer it to your Binance wallet. Choose the correct network for the transfer and copy the provided deposit address.
Once your funds are deposited, you can purchase crypto using several methods:
- Buy Crypto feature: This is a straightforward option, especially for beginners.
– Navigate to “Buy Crypto” on the Binance website or app.
– Select the cryptocurrency you wish to buy (e.g., Bitcoin) and your preferred fiat currency.
– Choose your payment method and enter the amount.
– Review the order details and confirm the transaction.
- Spot trading: This allows you to buy or sell cryptocurrencies at the current market price.
– Go to the “Trade” tab and select “Spot”.
– Choose the desired trading pair (e.g., BTC/USDT).
– Enter the amount you wish to buy and select the order type (e.g., Market order for immediate execution).
– Confirm the order.
Note: Binance charges a standard 0.1% trading fee for regular users, which can be reduced by holding Binance Coin (BNB) or achieving higher trading volumes. You can choose to pay the fee using your BNB balance for a 25% discount on spot trades. Binance also offers a convert feature that allows you to instantly swap your crypto holdings at zero cost.
Following these steps will enable you to successfully purchase your desired cryptocurrency on Binance.
How much is $1 in Binance?
I can help with that. About Binance USD
The current value of 1 BUSD is $1.00 USD. In other words, to buy 5 Binance USD, it would cost you $5.01 USD. Inversely, $1.00 USD would allow you to trade for 1.00 BUSD while $50.00 USD would convert to 49.95 BUSD, not including platform or gas fees.
How to buy Binance Coin in the US?
Great question! Buy Binance Coin in United States of America in 5 Easy Steps
Input your Binance Coin-supported wallet address. Login with email and verify your information. Complete the payment using leading payment methods such as Credit Cards, Apple Pay, Google Pay, Bank Transfer and more to instantly receive BNB in your wallet.
Can we buy coins in Binance?
With Binance users can: Trade hundreds of cryptocurrencies on Spot, Margin, and Futures markets. Buy and sell cryptocurrencies with Binance P2P. Earn interest on your crypto with Binance Earn.