One of the most popular investment tools of our time is cryptocurrencies. An internet connection and a computer or phone are all it takes to buy cryptocurrencies. So how can we buy cryptocurrencies using Binance, the world’s most common cryptocurrency exchange?
Opening and registering an account on Binance.com
First of all, you should go to Binance.com if you are using a computer, and download the Binance application if you are using a phone or tablet.
Then you need to register with Binance using your phone number or email address. In this step, you can easily register by entering the verification code sent to your phone and e-mail.
Verification
Before starting the trading process, you need to perform a verification process, as in every cryptocurrency exchange. Your verification process begins after you go to the verification section in the My Account section of the application or website and enter the documents and address requested from you. The documents requested here are usually your ID photo or driver’s license photo.
The verification process usually takes a short time, but sometimes it can take up to a week.
Money Transfer
After your profile has been verified by Binance, you must first have funds in your wallet in order to receive cryptocurrencies. If you want to deposit money through Binance banks, you need to create a Binance TR account. Your Binance TR account can be created directly by logging in with your Binance account information. After performing this transaction, you can complete this transaction by adding money to your Binance TR account and then transferring this money to your Binance account.
If you have been using another crypto account before and you want to transfer this money to Binance, you can choose a crypto currency and send your money to your Binance wallet via that crypto currency.
Cryptocurrency Purchase
After transferring your money to your Binance account, you can buy it by selecting a cryptocurrency from the Spot transactions section. You can make your investment.
If you want to make money without dealing with buying and selling crypto money, you can borrow your money in crypto currency in the section called Binance Earn and get the income from here. In this part, your profit and loss will be lower, but if you want higher profits, you have to lend your money for 3 months or longer.
You can perform leveraged transactions with futures transactions. In this section, you can perform high-profit and high-risk Long/Short transactions with up to 100x leverage.
Questions Answered by the Blog:
- How to Use Binance?
- What is the verification process?
- How do I make money on Binance?
- How do I transfer funds to Binance?
- What transactions can I do on Binance?