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Step by step on how to buy crypto on Binance

Written by:

Punter

How to buy crypto on Binance. First download Binance app Here

  1. Create and Verify Your Account:
    • If you haven’t already, sign up for a Binance account on their official website or app.
    • Complete the necessary identity verification (KYC – Know Your Customer) processes. This usually involves providing personal information and documentation for identity verification.
  2. Deposit Funds:
    • Once your account is verified, you need to deposit funds. Binance supports various methods like bank deposits, credit/debit cards, P2P trading, or third-party payments.
    • Navigate to the “Buy Crypto” section, typically found on the top navigation menu, and select your preferred method of deposit.
  3. Choose Your Cryptocurrency:
    • After depositing funds, you can decide which cryptocurrency you want to buy (e.g., Bitcoin, Ethereum, etc.).
    • You can directly purchase some cryptocurrencies with fiat currency, or you might first buy a stablecoin like USDT or BUSD if your desired crypto isn’t directly purchasable with fiat.
  4. Purchase the Cryptocurrency:
    • Using Fiat: If you’re buying directly with fiat, go to the “Buy Crypto” page, select the cryptocurrency, choose your currency, and the payment method (like card or bank transfer). Enter the amount you wish to spend, and confirm your purchase.
    • Trading Pairs: If you’ve bought a stablecoin or another crypto, go to the ‘Markets’ or ‘Trade’ section, find the trading pair (e.g., BTC/USDT), and place an order:
      • Market Order: Buy immediately at the current market price.
      • Limit Order: Set a price at which you want to buy, and your order will execute when the market reaches that price.
      • Stop-Limit: Useful for setting a stop price to trigger a limit order, managing risk or securing profits.
  5. Review Order:
    • Before finalizing, you’ll see an order summary. Review the details, including fees, the amount of crypto you’re buying, and the total cost.
  6. Confirm the Purchase:
    • If everything looks correct, confirm your order. For card purchases or direct fiat methods, you might need to go through additional security checks like 3D Secure verification.
  7. Secure Your Investment:
    • After purchase, your crypto will be available in your Binance wallet. For added security, consider transferring your cryptocurrencies to a private wallet, especially if you’re holding significant amounts or for the long term.
  8. Additional Notes:
    • Binance might offer different interfaces (basic, classic, advanced) for trading. If you’re new, starting with the basic might be less overwhelming.
    • Always be aware of the fees associated with buying crypto, which can vary based on the method of payment and the type of trade.

How to deposit in Binance

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