As you may have heard, cryptocurrency is on the rise, and more people are looking for ways to invest. And, if you are open to learning new investments methods you can start early before the rush. If you’re interested in putting your money into crypto but don’t know where to start, this article will teach you how to open an account on Binance.
Binance is one of the most popular cryptocurrency exchanges today because they offer low trading fees (0.1%) and a very high volume of trades per second (upwards of 1 million). Plus, they also offer their own coin called BNB, which has a fixed supply that can be traded with other coins or used as a gas fee when using Ethereum as a base currency.
Below we will go over how to open an account on the Binance app.
What You’ll Need: A mobile device (phone or tablet), time, and an email address.
1. Go to Binance or download the app from the App Store or Google Play, depending on what type of device you have. Once you open Binance, you will be greeted by their home page, which shows the latest price chart of coins trading on their exchange, current market trends, and other related information. From here, you can also sign-up, view your balances, and start trading.
2. Click on the ‘Register’ button. The page will change slightly, but it should only take a minute to fill in all required information. You can open an account with a username and password if you do not want to upload any documents. If you are new, Binance will ask you for additional information such as your name and country of residence, phone number, and email address.
3. After you have registered, Binance will send a confirmation email to your inbox and ask you to click the link inside.
4. On the next screen, fill in all of your details again – this ensures only authorized individuals can access your account.
5. Next, they will need a picture of an accepted form of photo identification (such as a passport or driver’s license). This is to further confirm your identity, so make sure you follow the guidelines correctly. You can upload any type of image file and also insert captions if required. If it doesn’t meet their standards for quality, they will ask for another image.
6. After completing this process, Binance will send you a verification code by email. This is to verify that it was you who signed up for an account. If you have not received this by email within one hour of registering, check your spam folder and contact their Customer Service team if still no luck.
7. Once this is done, click ‘Activate Account’ and wait for another email to arrive. This will be a final confirmation that your account is now verified, allowing you to log in with your credentials at any time.
8. The next step is to activate 2-factor authentication (2FA) via Google Authenticator or SMS Auth if you so prefer. Once you have created an account on Binance, you are required to verify your account via Google Authenticator or SMS Auth. We recommend setting up a mobile device such as an Android phone/iPhone using the Google Authenticator app and scanning the barcode displayed on the screen. You need to keep this device offline and in a safe place.
9. Once done, click ‘Funds’ at the top menu bar, then click ‘Deposit.’ From here, you can choose how you would like to deposit money into your account.
– Binance also accepts deposits from wire transfers, but only if it is sent from a supported country – such as UK, and the USA. For more information on this option, contact their customer support team.
10. Click ‘LINK EXCHANGE’ on the top menu bar to view the trading exchange page and see their market pairs. You can now start buying or selling cryptocurrencies.
– The minimum trading fee is only 0.1% of the trade amount, and you can have a maximum limit of up to 50BTC per day. This means that any transaction below 0.05BTC will not face any fees at all.
– All information regarding buying or selling cryptocurrencies will be shown when you are on the ‘Exchange’ page. This is where you will be able to check your balances, history, and even how much time remains until your next trade.
– Always remember to set up 2FA before making any deposits or trading on Binance.
– There is a limit of one account per person with the same IP address. However, you can own multiple accounts as long as the IP address is different.
– Your account will be temporarily locked if you have not logged in for more than 1 month. If this happens, make sure to log in at least once every few weeks so that Binance doesn’t lock your account and your funds are secure.
Binance is a very popular cryptocurrency exchange because of its potential to make large profits in both Bitcoin and Ethereum. Other popular markets on the page include EOS/USD, BTC/USDT, and ETH/BTC, making it easy to choose a price you want for your currency trades.
In conclusion, Binance is a great cryptocurrency exchange that you will want to register on as soon as possible. The fee for trading and withdrawal are both very low, making it a great alternative to Coinbase.
With large order support, low fees, and a wide selection of cryptocurrencies to trade with, it’s a great platform that both beginners and pro traders can easily use.
Stay tuned….
