Key aspects

  • Binance is trusted by over 200 million users worldwide. If you want to join this growing community, you can open a Binance account today and start investing or trading in minutes.

  • To start using Binance, create an account, verify your identity, and choose a payment method to purchase cryptocurrency.

  • Purchasing cryptocurrency on Binance can be done through various methods, such as credit or debit cards, bank transfers, or peer-to-peer transactions.

  • Remember to improve the security of your Binance account by using strong passwords, enabling two-factor authentication, and setting up an anti-phishing code.

Introduction

A Binance account acts as your gateway to the world of blockchain and Web3, and is the best place to start your cryptocurrency trading adventure. This guide will teach you how to take your first steps with the Binance exchange. The steps are simple. Open an account, verify your information, choose a payment method and get your crypto assets.

How to open a Binance account

Before you can buy your first bitcoin or BNB, you will need to open an account.

1. Go to the Binance Homepage and click [Sign Up] in the top right corner.

2. Enter your email address and choose a strong password. If you prefer, you can also register using your cell phone number instead of an email.

3. Enter the 6-digit verification code you received via email or phone number and click [Next].

4. Create a strong password with at least 8 characters, 1 number, and 1 uppercase letter. Don't share it with anyone.

5. Once your account is verified, you are all set to use it. Now that you can buy cryptocurrencies, let's see how to do it.

How to buy cryptocurrency on Binance

Remember that before you can buy cryptocurrencies on Binance, you must complete the identity verification process known as Know Your Customer (KYC). The KYC process helps us make sure you are who you say you are, and that you meet our legal requirements.

Once you finish the identity verification, you will be able to buy cryptocurrencies through different methods.

1. Credit/debit card: the simplest option for new users.

2. Fund your Fiat and Spot wallet: Transfer fiat money from your bank account and use it on the exchange.

3. Binance P2P: Buy cryptocurrencies directly from other users with Binance's peer-to-peer service.

Buy cryptocurrencies with a credit or debit card

1. Hover over [Buy Crypto] in the top menu and select [Buy & Sell].

2. Select the fiat currency you will pay with and the cryptocurrency you want to buy. Click [Add New Card] to include your card information.

3. Enter your card details and click [Confirm]. Please note that you will only be able to use a credit or debit card that is registered in your name.

4. Review the order details carefully. You can check conversion rates and commissions by clicking on the three dots icon […].

5. If you have read and accept the terms of use and privacy policy, check the box. Then click [Confirm] to finalize your payment.

6. As soon as the process is completed, the purchased cryptocurrencies will be credited to your Spot wallet. It's usually possible to open an account and have crypto in your wallet in just 10 minutes.

How to trade cryptocurrencies on Binance

At some point, you will probably want to start trading cryptocurrencies. If you are not used to a traditional trading interface, we recommend that you use the Binance Convert feature. 

1. You can access this feature by hovering over [Trade] and selecting the [Convert and Trade Blocks] option on the Binance home page.

With the Convert tool, you can choose the cryptocurrency pair you want to trade using a simple interface. Fiat currencies are also available if you want to withdraw money or buy cryptocurrencies with fiat. 

2. In the top field, select the currency you are exchanging with. Use the field below to select the cryptocurrency or fiat currency you wish to receive. Please note that the default setting is [Market], which means you will get the current market price, also known as the Spot price.

3. After confirming your selection and clicking [Conversion Preview], you will also see a summary of the operation you are going to perform.

If you agree with the preview, you can click [Convert] to confirm your order.

4. If you want to create a limit order then select the [Limit] option in the top menu. A Limit order allows you to buy or sell cryptocurrencies at a specific price or better.

In this example, we create a limit order to trade 50 USDT for the equivalent value in BNB when the price of BNB reaches 610 USDT.

Using the Binance Spot Trading Interface

1. Enter [Trade] in the top menu and click [Spot].

2. Next, you will see the Binance Spot trading interface.

3. On the left side, you will see the order book:

  • Sell ​​orders (ask) appear in red.

  • Purchase orders (bids) appear in green.

4. In the center, you will find an interactive trading chart of the selected trading pair. In this example, BTC/USDT.

5. On the right side, there is a trading pairs list that contains all the trading pairs available on Binance. Use the search function to find specific trading pairs.

6. Below the trading chart you can create buy and sell orders. If this is your first time, you'll need to add funds to your Spot wallet first.

7. For example, if you are buying BTC with USDT, you must first add USDT to your Spot wallet. Click the [+] icon to fund your account and choose your preferred method.

How to buy BTC with USDT

1. To get started, choose an order type. With a Limit order, you can set a specific price (not necessarily the current price). Instead, a Market order will attempt to execute your order as soon as possible at the current market price.

2. If you are using a Limit order, set the amount and price and click [Buy BTC].

3. You will receive a notification in the upper right corner of the screen. You can track your open Limit orders at the bottom of your trading interface.

4. If BTC reaches the order price you have specified, your order will be filled.

How to sell BTC for USDT

The process of creating sales orders is practically the same. In this case, we will use a market order to illustrate how to sell your BTC in exchange for USDT.

1. Choose the order type, set the amount and click [Sell BTC].

2. Since we are creating a Market order, the sell order will be placed immediately and if there is enough liquidity, it will be filled instantly at the best market price.

If you still have questions about Spot trading or want to learn more about how to use the trading interface, check out our Binance Spot Trading Guide.

How to protect your Binance account

Using a strong password and our security features will help keep your funds safe. Be sure to start with the following safety steps.

Use a strong password and change it regularly

This is self-explanatory, but you'd be surprised how many people still use passwords that are simple and easy to remember. Your password should always contain upper and lower case characters mixed with symbols and numbers. And of course, make sure to keep it safe and not share it with anyone.

Activate two-factor authentication (2FA)

We strongly recommend that you set up your account 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 Guide to 2FA on Binance can explain more about the process.

Enable Binance anti-phishing code

When you add an anti-phishing code to your Binance account, every email you receive from Binance will feature that code at the top. You can manually define the code using a series of letters or numbers.

This way, you can be sure that the message you receive is actually from Binance and not from a fake email address. In other words, it will help you prevent phishing attacks.

For more information on account security, see the article Protect your Binance account in 7 simple steps.

Conclusions

Opening an account and making your first operations on Binance is a small introduction to the world of cryptocurrencies. In addition to buying and selling on the exchange, there are many other options available. If you have never explored a trading site, it can be confusing at first. Binance Academy is full of trading articles and guides that can help you get started with trading tools, and even create your own strategies.

Further reading

  • Your guide to getting to know Binance Spot Trading

  • What is Binance P2P and how to use it

  • Your guide to Binance Copy Trading

  • Secure your Binance account in 7 easy steps

Legal notice: In accordance with the requirements of the MiCA regulations, unauthorized stablecoins are subject to certain restrictions for EEA users. For more information, click here.

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