If you are afraid of missing a chance (FOMO) when it comes to crypto, you can open a Binance account right away and start trading within minutes. The steps you will follow are quite simple. Open an account, choose a payment method and start trading. We’ll share everything you need to know in our Binance For Beginners Guide.
How to open a Binance account?
A Binance account is like a gateway to crypto trading. However, in order to receive your first bitcoin or BNB , you must first open an account.
- Go to the Binance homepage and click [Register] in the upper right corner.
- Enter your e-mail address and set a secure password. If you have a referral code from your friend, you must enter this code at this point.
- Enter the code sent to your email address or mobile phone following the instructions to verify your account.
Upon completion of the verification, you will have created your Binance account. Now you are one step closer to buying crypto money. So let’s talk about how to make your first crypto purchase.
How to buy crypto on Binance?
Now that you have created your Binance account, you can get some cryptocurrency. In the next step, you must complete the Know Your Customer (KYC) process. KYC allows us to determine that you really are the person you claim to be and meet legal requirements.
You can trade hundreds of cryptocurrencies on Binance, and you can deposit any of these currencies on the exchange. In this example, we are going to deposit BNB from the Trust Wallet.
- Sign in to your Binance account. Once you are logged in, move the mouse pointer over the Wallet area and click Spot (deposit and withdrawal).
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- Click on Deposit.
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- Select the Crypto tab.
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- Select the cryptocurrency that you want to deposit.
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- If the cryptocurrency is issued in several networks, select the one in which you would like to make your deposit.
For example, BNB is issued on the Binance Chain as a BEP-2 token, on the Binance Smart Chain (BSC) as a BEP-20 token and on Ethereum as an ERC-20 token. So if you have BEP-2 tokens in the wallet you are sending from, choose the BEP-2 deposit address. Be extra careful with this step because if you deposit to the wrong address you will lose your deposit.
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- Depositing BNB requires both a deposit address and a MEMO. You will need to copy and paste both of them into the appropriate fields of the wallet from which you want to deposit.
Why is a MEMO needed? It is required because the BNB deposit address is the same for all users. The MEMO is a unique identifier that is assigned to each account and that enables Binance to identify a deposit and credit it to the corresponding account.
- Tap on BNB in your Trust Wallet.
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- Tap Submit.
Receiving crypto with credit/debit card
If you are still on the Binance login page, click on [Buy crypto with a credit card]. Otherwise, move your cursor over the [Buy Crypto] menu item while on the Binance homepage and click [Credit / Debit Card].
Select the currency you will pay in and the coin you want to buy. We will take 100 GBP worth of Bitcoin (BTC) as an example. Click the [Get] button to proceed to the next step where you will enter your card information.
Upon completion of the transaction, your purchased cryptos [Fiat Money and Spot] will be deposited into your wallet. It usually takes only 10 minutes to open an account and get to this stage.
How to trade crypto on Binance?
At some point you will probably want to start buying and selling cryptocurrencies. If you are not used to the traditional trading interface, we recommend using the Convert feature. You can access this feature while on the Binance home page by hovering your cursor over the [Buy-Sell] menu item and clicking the [Convert] option.
With the convert tool, you can specify the cryptocurrency pair you want to trade on a simple interface. If you want to cash or buy crypto with fiat money, you can also use the available fiat options.
Select the coin to be converted in the upper field and enter the amount. Select the cryptocurrency or fiat currency you want in the field below. In our example here, we will convert BNB to BTC. After confirming your choice, your transaction will be carried out at the market price. You are also required to pay a commission for your transactions and this fee will be charged automatically.
Binance Classic and Advanced trading views are also available for further trading. For a more detailed overview of the trading interface, see How to Trade Spot on Binance? You can read our article.
The next point all new users of Binance should take into account should be increasing account security. After your efforts to buy and sell crypto, you should give the security of your account the first priority.
How to secure a Binance account?
In the crypto world, it is extremely important to increase the security of your account. Setting a strong password and using our inbuilt security features will keep your funds safe. You can start doing this by following the security steps below.
Use a strong password and change it regularly
While this step is pretty straightforward, you might be surprised to know how many people still use simple and easy-to-remember passwords. Your password must contain numbers, special characters, and both uppercase and lowercase letters. In addition, you should always keep your password safe and not share it with anyone.
Enable Two-Factor Authentication (2FA)
We also strongly recommend that you enable Two-Step Verification (2FA) on your account. 2FA offers an extra layer of security. So even if the hackers get your password, they need to access your physical 2FA device to get into your account.
Google Authenticator app or SMS verification is a good starting point. You can find more information on this topic in our Binance 2FA Guide .
Enable Binance Phishing Blocking Code
When you add a phishing code to your Binance account, it will appear on all emails from Binance. You can set the code manually. The code can consist of letters and numbers.
This way, you can be sure that the message you receive is actually from Binance, not from a fake email address. In other words, this code helps you prevent phishing attacks.
For more information on account security, read our article Secure Your Binance Account in 7 Easy Steps .
Creating an account with Balance and making your first transaction is the first small step you take into the cryptocurrency world. You can do much more than buy and sell on the stock market. There are many other opportunities that you can explore and take advantage of on the Binance platform.