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Binance: what it is and how to use it

Binance is the world’s largest cryptocurrency exchange by volume.

At Binance, you can buy and sell cryptocurrencies like Bitcoin and Ethereum.

The exchange has one of the lowest fees on the market as low as 0.1%.

Other exchanges like Coinbase have a fee of 1.49% to 3.99%.

Binance has separate websites for some countries.

This is to comply with local regulations.

For example, if you are from Singapore, you can use binance.sg to buy cryptocurrencies.

On the other hand, if you are from the United States, you can use binance.us instead.

You can also use binance.com, which is Binance’s main website.

The difference between these three websites is the number of cryptocurrencies supported, trading fees, deposit, order types, and withdrawal.

In this tutorial, you will 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 your identity is verified 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 will 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, you won’t be able to buy or sell cryptocurrencies on the exchange.

Here’s how to use Binance:

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.

Download the Binance app on the App Store (iOS) or Google Play Store (Android).

2. Create an account

After downloading Binance on your mobile device, you need to create an account.

First, open the Binance app and tap on “Sign Up/Sign In”.

If you use Binance on a desktop, you can create an account using this link: https://www.binance.com/en/register?ref=73583477.

Then, tap on “Register” at the top of the page.

The registration page will open.

On the registration page, enter your email address and password.

Then, tap on the “Reference ID” field.

In the “Reference ID” field, use “73583477” as the reference ID.

Then, tap on the arrow icon to proceed to the next step.

After entering your email address and password, you will land on the “Email Authentication” page.

On the “Email Authentication” page, you need to verify your email.

Open your email and check your inbox for the verification code.

If you can’t find it, be sure to check your spam or junk folder.

Alternatively, you can resend the code to your email after one minute.

Next, copy the verification code and paste it into the “Email Verification Code” field.

Then, tap “Send” to send the email verification code.

3. Complete the basic verification

After verifying your email, you need to verify your identity.

Verification of 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 is not recommended.

First, tap on “Verify Now” to start verifying your identity.

After tapping “Verify Now”, you need to complete the basic verification.

First, tap on the “Nationality” drop-down box and select your nationality.

Secondly, enter your first name, last name and middle name.

Finally, enter your date of birth and tap “Continue”.

To use Binance, you must be at least 18 years old.

After tapping “Continue”, you need to provide your address.

This includes your address, zip code, and city.

After providing your address, tap “Continue”.

4. Complete advanced verification

After providing your information, you will land on the “Verified” page.

This means that you have 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 this, tap on the “Go verify” link above the “Back to home page” button.

After tapping on “Go Verification”, you will 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 you can choose from.

This includes your ID card, passport or driver’s license.

If you want to upload your ID, tap ID.

Then, tap “Continue” to proceed to upload your ID.

To verify your identity, you need to upload a photo of the front and back of your ID.

Make sure the photo is clear and centered.

Once you’re done uploading your ID, tap “Continue”.

After uploading your ID, passport or driver’s license, you will land on the “Advanced Verification Verified” page.

This means that you have successfully completed advanced verification on Binance.

Now you will be able to buy and sell cryptocurrencies on the exchange.

Tap “Back to Home Page” to go to the Binance homepage.

5. Buy a cryptocurrency

In this section, you will learn how to buy a cryptocurrency on the Binance app.

After creating an account and verifying your identity, you will be able to buy and sell cryptocurrencies.

Once you’re on Binance’s homepage, you’ll see a list of cryptocurrencies and their prices.

Tap the reverse icon in the bottom navigation bar.

After tapping on the reverse icon, a navigation menu will open.

You will see several options like “Buy”, “Sell” and “Convert”.

If this is your first time using Binance, you will only see the “Buy” option.

Tap “Buy” to buy your first cryptocurrency.

After tapping on “Buy”, you will land on the “Choose Crypto” page.

On the “Choose Crypto” page, you will see a list of cryptocurrencies that you can buy.

Tap on the cryptocurrency you want to buy.

For example, if you want to buy Bitcoin, tap “Bitcoin”.

After tapping on “Bitcoin”, you will land on the “Buy Crypto” page.

On the “Buy Crypto” page, you need to enter the amount of cryptocurrency you want to buy.

In this example, we are buying Bitcoin, so enter the amount of Bitcoin you want to buy using the numeric keypad.

For example, if you want to buy $30 worth of Bitcoin, enter “30” on the numeric keypad.

Then, tap “Buy” to purchase it.

After tapping buy, you will need to select a payment method.

In most countries, you can only buy cryptocurrencies on Binance with a credit or debit card.

Then, the “Pay by card” option will be selected automatically.

Tap “Confirm” to buy Bitcoin at its current price.

After tapping “Confirm”, you need to provide your card details.

Binance supports Mastercard or Visa payments.

First, enter the first and last name of your card.

Then, enter the card number, expiration date, and CVV.

Then, tap on “Next” to proceed to the next step.

After tapping “Next”, you will need to provide your billing address.

First, enter your address in the “Address” field.

Then, enter your zip code and city in the “Zip Code” field and the “City” field, respectively.

Finally, select your country and tap “Pay Now” to buy the cryptocurrency.

After buying a cryptocurrency, you will be able to see it in your wallet.

For example, if you bought Bitcoin, you will be able to see your Bitcoin balance in your wallet.

You can access your portfolio by tapping the wallet icon in the bottom navigation bar.

You have successfully learned how to use Binance for a beginner to buy cryptocurrencies!

Conclusion

Binance has various websites, so be sure to use the one dedicated to your country.

If you are from Singapore, you can use binance.sg for ease of use.

Binance Singapore’s website allows you to purchase cryptocurrencies using SGD through Xfers.

If you’re from the US, you can only use binance.us, which has the same features as Binance.com.

The process of creating an account is similar in all these websites.

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