Binance is constantly reviewing and adding cryptocurrencies that can be used on the Binance platform. If you would like to buy Parallel, which is currently not listed on Binance, you can follow the step-by-step guide below. It will show you how to buy Parallel by connecting your crypto wallet to a decentralized exchange (DEX) using your Binance account to buy the base currency.
Download a Metamask Wallet
There are several crypto wallets to choose from within the Ethereum network and Metamask appears to be the most integrated. If you are using a desktop computer, you can download Google Chrome and the wallet Chrome extension. If you prefer using your mobile phone, you can download the wallet via Google Play or iOS App Store if it’s available. Just make sure that you are downloading the official Chrome extension and mobile app by visiting the Metamask’s website.
Set up your Metamask
Register and set up the crypto wallet via the wallet’s Google Chrome extension or via the mobile app you downloaded in Step 1. You may refer to the wallet’s support page for reference. Make sure to keep your seed phrase safe, and take note of your wallet address. You will be using it later on Steps 4 and 6.
Buy Ethereum as Your Base Currency
Once your wallet is setup, you can login to your binance account and proceed to the Buy & Sell crypto webpage to buy the Ethereum. If you are not an existing user, you can refer to our How to Buy Ethereum guide on registering and buying your first cryptocurrency on Binance.
Send Ethereum From Binance to Your Crypto Wallet
Once you buy your Ethereum, go to your Binance wallet section and look for the Ethereum you purchased. Click on withdraw and fill up the required information. Set the network to Ethereum, provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for your Ethereum to appear in your Metamask.
If you are using Binance Website:
If you are using Binance App:
Choose a Decentralized Exchange (DEX)
There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange. For example, if you use Metamask wallet, you can go to 1inch to make the transaction.
Connect Your Wallet
Connect your Metamask wallet to the DEX you want to use by using your wallet address from Step 2.
Trade Your Ethereum With the Coin You Want to Get
Select your Ethereum as the payment and select the Parallel as the coin you want to acquire.
If Parallel Doesn’t Appear, Find its Smart Contract
If the coin you want does not appear on the DEX, you can refer to https://etherscan.io/ and find the smart contract address. You can then copy and paste it into 1inch. Beware of scams and make sure you got the official contract address.
Apply the Swap
Once you are done with the previous steps, you can click on the Swap button.
Cryptocurrency investment activities, including actions done to buy Parallel online via Binance, are subject to market risk. Binance provides easy and convenient ways for you to buy Parallel instantly, and we put our best efforts to fully inform our users about each and every cryptocurrency we offer on the exchange, but we are not responsible for the results that may arise from your Parallel purchase. This page and any information in it is not meant to be interpreted as an endorsement of any particular cryptocurrency or method of acquiring it.