- Briefly about cryptocurrencies
- What you need to open an account on the Binance crypto exchange
- We register on the Binance exchange using this link (there is a 10% discount on commission forever).
- Verification (verification) of the identity of KYC
- Deposit of funds
- Binance trading terminal
- Safe storage of cryptocurrencies
Briefly about cryptocurrencies
Cryptocurrencies are becoming more and more popular with many people. Today we will look at the places where you can buy cryptocurrencies with minimal risk of running into scammers.
This area is full of people who want easy money, so it is recommended to check the originality of the links leading to the sites of exchanges, exchangers, wallets and everything related to cryptocurrencies.
What you need to open an account on the Binance crypto exchange
We will need:
- A debit card of almost any bank, with a Visa or Mastercard payment system.
- Passport or driver’s license;
- Smartphone with internet access.
One of the largest and most reliable exchanges at the moment is the Binance crypto exchange.
We register on the Binance exchange using this link (there is a 10% discount on commission forever).
Verification (verification) of the identity of KYC
We go through KYC verification to get access to all the site’s features.
You can, of course, limit yourself to creating an account without verification, but then you will not have access to buying cryptocurrency for fiat funds – dollars, euros and other currencies. If you want to use all the capabilities of the Binance exchange, then you will have to go through verification.
At the same time, Binance claims that the data is reliably protected, and there is nothing to fear. We really hope that this is true.
Enter your data, attach a photo / scan of your driver’s license or passport.
After entering the data, the exchange will offer you to install the Binance mobile application on your smartphone, and go through the face verification with the passport photo. The instructions will accompany you at every stage, so there should be no difficulties.
After completing the KYC verification, you can safely start working with the exchange, set up two-step authentication. It is advisable to configure all types of authentication, and fill in the security settings, so as not to become a victim of scammers or hackers.
Deposit of funds
- To deposit funds, you need to go to the Buy Crypto tab, and select the Card Deposit;
- Before us opens the Deposit in Fiat page, here we can choose any convenient method of depositing funds into the account. If you have an Advcash account, you can replenish your Binance balance through this service, avoiding commissions.
If you have no desire to register on third-party services, then you can choose to enter rubles from your bank card – with Visa or Mastercard payment systems. The commission will be 1.8% of the deposited amount.
- After depositing funds, go to the Trade, select the Classic tab to access the trading terminal
Binance trading terminal
It looks like a terminal for trading on the Binance exchange
- In this window, we are looking for the trading pair we need, in the search we enter the ticker (short designation) of the fiat currency. In the screenshot it is Pound Sterling [GBP]
- And we are looking for a trading pair of the selected fiat currency with the cryptocurrency we need to buy, for example, Bitcoin [BTC]. The trading pair looks like this [BTC / GBP]
- Now, in the Spot window, select the required amount to buy cryptocurrency and click the Buy BTC button
In this case, a limit order is placed, which will be triggered when the set BTC purchase price is reached. You can adjust this value in the Price line.
- If you just want to buy cryptocurrency at the market price, then go from the Limit tab to the Market tab, again select the required amount of cryptocurrency to buy, and click on the Buy BTC button
Congratulations! The cryptocurrency has been purchased and is already on your exchange account!
Safe storage of cryptocurrencies
If you want to buy cryptocurrency for a long time, and not just for trading, then it is recommended to use cold storage – as the safest method to store your cryptocurrency.
Exchanges, in theory, can be hacked, and then even two-factor authentication will not save your funds.
Therefore, the exchange can be used to buy cryptocurrency for fiat funds, and then withdraw the cryptocurrency to your hardware wallet.
Comparison of hardware (cold) wallets can be viewed on the page:
There you can also find links to the official stores of crypto wallet manufacturers, for a secure purchase.