Key takeaways

  • Binance is trusted by over 200,000,000 users worldwide. If you want to join this growing community, you can open an account with Binance 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 cryptocurrencies.

  • Purchasing cryptocurrencies on Binance can be done through different payment methods, such as credit/debit cards, bank transfers or peer-to-peer transactions.

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

Introduction 

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

How to create a Binance account?

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

1. Go to the Binance homepage and click [Register] on the first page or top right.

2. Enter your email and create a secure password. You can also log in with your phone number.

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 capital letter. Don't share it with anyone.

5. Once your identity is verified, you should be ready to use your Binance account. You've taken a step forward in purchasing cryptocurrencies, so now let's see how to make your first purchase.

How to buy cryptos on Binance?

Before you can purchase cryptocurrencies on Binance, you must complete identity verification, known as Know Your Customer (KYC). KYC helps us ensure that you are who you say you are and that you meet our legal obligations.

Once this verification is complete, you will be able to purchase cryptocurrencies through different methods.

1. Credit/Debit Card: The easiest option for new users.

2. Deposit funds to your Fiat and Spot wallet: Transfer fiat currency from your bank account and use it on the exchange.

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

Buy cryptocurrencies with a credit/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 wish to purchase. Tap the [Add New Card] button to continue and add your card information.

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

4. Check the order details. You can check the conversion rates and fees by clicking the [...] button.

5. If you have read and accepted the Terms of Use and Privacy Policy, check the box. Then click [Confirm] to finalize the payment.

6. Once the process is completed, the crypto you purchased will be credited to your Binance Spot wallet. Typically, opening an account and completing this step can be done in less than 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 using the Binance Convert feature. 

1. You can access it by hovering over [Trader] and selecting [Convert and Block Trade] on the Binance homepage.

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 sell or buy cryptocurrencies against these currencies.

2. Select the cryptocurrency you are selling in the top field and enter the amount. Use the bottom field to select the desired cryptocurrency or fiat currency. Please note that the default setting is [Market], which means you will trade at the market price, also known as spot price.

3. After confirming your selection and clicking [Conversion Overview], you will see a summary of the trade you are going to make.

Once you are satisfied with the preview, you can click [Convert] to confirm your order.

4. If you want to create a Limit order instead, select the [Limit] option from the top menu. A Limit order allows you to buy or sell cryptos at a specific price.

In this example, we place a Limit order to trade our 50 USDT for the equivalent value in BNB when the price of BNB falls to 610 USDT.

Using the Binance Spot Trading Interface

1. Find the [Trader] menu at the top and click [Spot].

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

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

  • Sell ​​orders (offers) are in red.

  • Purchase orders (requests) are 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, you will find a list of trading pairs, which contains all the trading pairs available on Binance. Use the search function to find specific trading pairs.

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

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

How to buy BTC with USDT?

1. To get started, choose an order type. With a Limit order, you can set a specific price (other than the current price). In contrast, 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 your screen. You can track your open Limits orders at the bottom of your trading interface.

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

How to sell BTC for USDT?

The process of creating sell orders is almost the same. In this case, we will use a Market order to illustrate how to sell your BTC for USDT.

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

2. Because we create a Market order, the sell order will be placed immediately, and if there is enough liquidity, it will be executed instantly at the best market price.

If you are still unsure about Spot trading or would like more details on using the Binance Spot trading interface, please check out our Binance Spot Trading Guide.

How to secure your Binance account?

Using a strong password and our built-in security features will keep your funds secure. Make sure you start with the following security steps.

Use a strong password and change it regularly

This is obvious, but you'd be surprised how many people still use simple, easy-to-remember passwords. Your password must always contain upper and lower case letters, as well as symbols and numbers. And of course, make sure you keep it safe and don't share it with anyone.

Enable two-factor authentication (2FA)

We highly recommend setting 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 A2F device to log in.

The Google Authenticator app or SMS authentication is a great place to start. Our Binance A2F Guide can explain this process further.

Activate Binance Anti-Phishing Code

When you add an anti-phishing code to your Binance account, every email you receive from Binance will have this code displayed at the top. You can set this code manually. It can be a series of letters or numbers.

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

For more information on account security, please see Securing Your Binance Account in 7 Easy Steps.

Conclusion

Opening an account and making your first trades with Binance are only your first steps in the world of cryptocurrencies. It’s about much more than buying or selling on an exchange. If this is the first time you have seen a trading view before, it may seem 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 trading strategies.

For more information

  • Your Guide to Spot Trading on Binance

  • What is Binance P2P and how to use it?

  • Your Guide to Binance Copy Trading

  • Secure Your Binance Account in 7 Simple Steps

Disclaimer: In accordance with MiCA requirements, unauthorized stablecoins are subject to certain restrictions for EEA users. For more information, please click here.

Disclaimer: This content is presented to you “as is” for your general information and educational purposes only, without any representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, or as a means of recommending the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is written by a third-party contributor, please note that the opinions expressed are those of the third-party contributor and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here to find out more. The price of digital assets can be volatile. The value of your investment may fall as well as rise and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not responsible for any losses you may incur. This material should not be construed as financial, legal, or other professional advice. To learn more, see our Terms of Use and Risk Warning.