How to trade Bitcoin on Binance
If you’ve been experiencing a bit of crypto FOMO, you can open an account with Binance today and start trading in minutes. The steps are simple. Open an account, choose a payment method, and start trading. We’ll show you everything you need to know here in our Binance Beginner’s Guide.
How to create a Binance account
A Binance account acts as your gateway into trading crypto trading. But before you can buy your first bitcoin or BNB, you’ll need to open an account.
1. Head to the Binance homepage and click [Register] in the top right corner.
2. Input your email address and choose a secure password. If you’ve been given a referral code from a friend, now is also the time to enter it.
3. Follow the instructions for verifying your account by inputting the code sent to your email address or mobile number.
Once you’re verified, you should now be set up with your Binance account. You’re one step closer to buying cryptocurrency, so let’s dive into making your first crypto purchase.
How to buy crypto on Binance
Now we’ve set you up with your Binance account, let’s purchase some cryptocurrency. Next, you have to complete the Know Your Customer (KYC) process. KYC helps us make sure you are who you claim to be and fulfill our legal requirements.
You’ve got a few options to choose from when purchasing crypto:
1. Credit/debit card: the most straightforward option for new users.
2. Deposit funds into your Fiat and Spot wallet: transfer fiat currency from your bank account and use it on the exchange.
Purchasing crypto with a credit/debit card
If you are still on the Binance welcome screen, select [Buy crypto with your credit card]. Otherwise, hover over [Buy Crypto] and select [Credit/Debit Card] from the Binance homepage.
Select the currency you will be paying with and the coin you wish to purchase. In our example, we’ve gone for £100 of bitcoin (BTC). Press the [Buy] button to proceed with inputting your card details.
Once the process is complete, your purchased crypto will be credited to your [Fiat and Spot] wallet. Usually, opening an account and getting to this stage can be done within 10 minutes.
How to trade crypto on Binance
At some point, you will likely want to start trading cryptocurrencies. If you’re not used to a traditional trading interface, we recommend using the Convert feature. You can access this by hovering over [Trade] and selecting [Convert] from the Binance homepage.
With the Convert tool, you can pick the cryptocurrency pair you wish to trade using a simple interface. Fiat currencies are also available if you want to cash out or buy crypto with fiat.
Select the coin you are exchanging in the top field and input the amount. Use the bottom field to select your desired cryptocurrency or fiat currency. In our example, we will trade BNB for BTC. After confirming your selection, the trade will take place at the market price. Trading fees are also applicable and taken automatically.
The Binance Classic and Advanced trading views are also available to make more advanced trades. For a detailed breakdown of the trading page interface, check out How to Trade Spot on Binance.
Next on the list for any Binance beginner is to think about improving the security of their account. After going through the effort of trading some crypto, it should be your top priority to make sure it’s safe.
How to secure your Binance account
Improving the security of your account is vital in the crypto world. Using a strong password and our in-built security features will help keep your funds safe. Make sure to start with the following security steps.
Use a strong password and change it regularly
This one is self-explanatory, but you would be choked with the number of people that still use passwords that are simple and easy to remember. Your password should always contain uppercase and lowercase characters mixed with symbols and letters. And of course, make sure you keep it safe and do not share it with anyone.
Enable Two-Factor Authentication (2FA)
We strongly recommend you set your account up with Two-factor Authentication (2FA). This creates an extra layer of security, meaning that even if hackers compromise your password, they would need access to your physical 2FA device to log in.
The Google Authenticator app or SMS authentication are great places to start. Our Binance 2FA Guide can explain more about the process.
When you add an anti-phishing code to your Binance account, every email you get from Binance will have this code displayed at the top. This way, you can be sure that the message you are receiving is actually from Binance and not from a fake email address. In other words, it helps you prevent phishing attacks.