A complete guide on how to use Binance.
With the approval of crypto spot ETFs in multiple countries and constant support from the US President Trump, crypto has transformed into a mainstream financial asset class. At the center of this revolution stands Binance, the world's largest crypto exchange by trading volume.
Whether you're a complete beginner looking to buy your first Bitcoin or an experienced trader seeking advanced earning opportunities, Binance offers a comprehensive ecosystem designed to serve users at every level of expertise.
This comprehensive guide will walk you through everything you need to know about Binance: from creating and securing your account, to making your first purchase through the user-friendly P2P marketplace, to exploring various trading options and earning passive income through multiple platform features.
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Binance is the leading crypto exchange by volume in the world and its user base is widespread across over 180 countries. It has several features which are perfect for beginners and it is very easy to use.
Binance offers its services on multiple platforms, including iOS and Android (in the form of its mobile application), browser-based websites, as well as a desktop application for Mac and Windows. If you’re a more advanced user requiring quick updates with minimal lag, it is recommended to use its mobile app or desktop version, as the browser-based experience can cause lag when the exchange experiences very high transaction volumes.
First, you’ll need to download the Binance app or head to their website on a desktop and create an account by providing your email address and phone number. Then, you will need to verify your account before you can deposit fiat or cryptocurrency into your Binance wallet.
On the homepage, locate and click the "Register" or "Create Account" button. Mobile app users should tap "Sign Up" or "Create a Binance Account" to start the process.
Binance offers multiple registration options to suit your preference:
Choose the option that's most convenient and secure for your needs.
If you've selected email or phone registration:
Binance will send a 6-digit verification code to your provided email or phone number. Check your inbox or messages, retrieve this code, and enter it on the registration page within the 30-minute validity period. Click "Submit" to continue.
Your account security begins with a strong password. Binance requires passwords that:
Create and confirm your password, then click "Next" to continue.
You'll receive a confirmation message indicating your Binance account has been successfully created. At this stage, you have basic access to the platform, but additional steps are recommended for security and full functionality.
For optimal account protection, enabling two-factor authentication is strongly recommended:
This critical security measure prevents unauthorized access even if your password is compromised.
To unlock comprehensive platform features including higher withdrawal limits, fiat deposits, and advanced trading options:
Binance implements comprehensive Know Your Customer (KYC) procedures to comply with global financial regulations and enhance platform security. This process involves submitting government-issued identification and completing facial recognition verification. Fully verified accounts benefit from:
Binance strongly advocates for 2FA implementation as an essential security measure. Users can choose from multiple authentication methods:
This additional security layer ensures that even if a password is compromised, unauthorized access remains prevented without the second verification factor. 2FA can be configured through your account's security settings menu.
Binance's P2P marketplace provides a user-friendly entry point for purchasing cryptocurrencies like USDT (Tether) or BTC (Bitcoin) directly from other users. Binance acts as a secure intermediary, holding funds in escrow until transactions are successfully completed.
This process offers a flexible, secure, and convenient entry point for purchasing cryptocurrency on Binance through peer-to-peer trading using your preferred local payment methods.
Depositing crypto on Binance can be more complex than fiat if you’re new to this, but the following steps will make it easy. You can deposit crypto into your Binance wallet from another cryptocurrency wallet. For example, you are trying to transfer BTC from Coinbase to Binance, you must follow these steps:
Withdrawing crypto from Binance to another wallet is an easy process but may be delayed due to network congestion and verification by the receiving blockchain. To withdraw any crypto or fiat currency, log in to Binance and click on "Wallet" then "Withdraw".
Next, select the crypto you would like to withdraw. Some crypto can be issued on multiple networks so you need to select the exact network. After this, you will need to copy/paste the exact wallet address and click "Submit".
This process varies depending on countries and regions. Enter the withdrawal amount and confirm. Most of the time, funds should be received within 30 minutes. You'll be charged withdrawal fees. Before every withdrawal is complete, you must complete the 2-step authentication process.
Spot Trading:
Futures Trading:
Stop-loss orders serve as crucial risk management tools that automatically close positions when prices reach predetermined levels. This feature is particularly valuable during volatile market conditions, helping traders limit potential losses. Stop-loss orders can be set directly from both the futures and spot trading interfaces on Binance.
Binance offers a diverse ecosystem of earning tools designed for both passive investors and active participants in the cryptocurrency ecosystem.
Binance's Simple Earn platform provides low-risk opportunities to grow your crypto holdings through either flexible or fixed-term strategies:
Launchpool enables users to stake BNB or other supported tokens to earn newly launched project tokens:
Megadrop combines Simple Earn participation with Web3 Wallet tasks to distribute tokens from upcoming projects:
This program specifically rewards long-term BNB holders using Simple Earn or On-Chain Yield products:
Exclusive TGEs on PancakeSwap provide Binance Wallet users with opportunities to acquire tokens at launch:
If you trade and pay in the native token, Binance Coin (BNB), the fees will be reduced by 25%. On withdrawals, each coin has its varying withdrawal fees. Binance owes much of its popularity to its low rates & fees and discounted trading with BNB.
Binance stands as a comprehensive cryptocurrency platform that accommodates users at every experience level. From creating your first account and implementing robust security measures to making initial purchases through P2P trading and exploring advanced earning opportunities, this guide has provided you with the essential knowledge to begin your cryptocurrency journey with confidence.
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How To Use Binance In The US – CoinMarketCap
