How to create an account and start trading on Binance. And most importantly - what to spend cryptocurrency on later
How to get started using Binance.
Founded in 2017, Binance is the largest cryptocurrency trading platform. There are about 600 different trading pairs available on it, including those with fiat currencies. According to CoinMarketCap, trading volume on Binance has exceeded $ 26 billion in the last 24 hours.
Here's how to create an account and start trading on Binance. Also from this article you will find out what and where you can spend the purchased cryptocurrency.
How to start using Binance
The PaySpace Magazine editorial team previously spoke in detail about the Binance exchange. This is a cryptocurrency trading platform that is suitable for both beginners and sophisticated traders. The first version of the application is Lite, the second - Professional. You can switch between versions with a swipe in the application settings.
Pros of Binance:
How to sign up on Binance
1. Install the Binance app.
2. Complete a simple registration by entering your email address and choosing a password (ID is optional). Then - verification and confirmation of the email with the introduction of the code, which will be sent to you by mail.
Note. Specify the ID by uploading a photo of an ID card, passport or driver's license to the application, if you want to withdraw fiat funds to a bank card, increase the limit on the withdrawal of cryptocurrency to 100 bitcoins (according to the current exchange rate, this is more than $ 5 million) and for crediting fiat funds ...
3. Indicate your experience with cryptocurrencies: experienced trader, little or no experience. If you choose the latter option, you will be prompted to switch to Binance Lite, a simplified version of the app for buying and selling cryptocurrencies. Hints and videos on how to use the application are also available at the top of the screen for beginners.
How to buy cryptocurrency on Binance
Here's how to buy cryptocurrency in the Binance app using Ethereum (ETH) as an example. The purchase will be made from a Ukrainian bank card for hryvnia.
1. On the home page of the application, click on the Buy button.
2. Specify the amount and currency for which you want to buy a cryptoasset. In the field below, select the cryptocurrency - ETH.
3. Enter the card details for payment: name, surname, card number, expiration date and CVV-code.
4. We indicate the address that you indicated in the bank when registering the card.
5. We check the transaction data and confirm the purchase. Next, we go through the verification of the bank.
6. After the purchase, the amount of the purchased cryptocurrency will be displayed in your wallet.
How to Sell Cryptocurrency on Binance
Selling cryptocurrency follows a similar principle. We will tell you how to do this using the example of selling Ethereum for hryvnia:
1. On the app home page, click on the Buy button, then select the Sell option.
2. Specify the cryptocurrency and the amount you want to sell, in our case - ETH. In the field below, select cryptocurrency or fiat money, in our case - hryvnia.
3. After confirming the transaction, a crypt or fiat currency will be credited to your wallet, in our case - hryvnia. Now you can use the money in the Binance wallet to buy crypto for hryvnia.
In version Binance Lite buy and sell cryptocurrency even easier.
1. Click on the exchange icon at the bottom of the application, select the desired one of the four application options Buy, Sell, Deposit or Convert (Buy, Sell, Deposit funds, Convert).
2. Choose a cryptocurrency, specify the currency and amount for buying a crypt.
3. Link your card, if you haven't already, and pay for the purchase.
In Binance Lite, your assets are displayed in the wallet as a pie chart. On the start page, you can view the current cryptocurrency rates.
Where are Bitcoin and Ethereum accepted?
Today, there are dozens of websites and even offline businesses that accept cryptocurrencies for payment. Bitcoin, as the most popular cryptocurrency in the world, is accepted for payment most often. However, other cryptoassets are not lagging behind - on the Internet you can find extensive articles about where, for example, Ethereum or Ripple is accepted.
So, for ETM you can buy online: electronics (Gipsybee), cosmetics (Cathy Doll), furniture (Autonomous), food, drinks (Blockchain Coffee, Drapis), gift cards (Prepaidify, Giftoff), rent hotel rooms and buy tickets ( Travala, Destinia), get paid for freelancing and pay for freelance services (Freelance For Coins, Ethlance). There are also universal marketplaces like Peddler.com, where you can buy different categories of goods for Ethereum.
How to pay with cryptocurrency
You can pay for goods and services with cryptocurrency using a QR code or by entering the address of a cryptocurrency wallet for transfer. Consider paying with Ethereum cryptocurrency using the example of a site for buying electronics Gipsybee. After choosing a product and completing registration, go to the payment page.
Gipsybee offers several payment options, including using other cryptocurrencies: choose ETH. After specifying the Billing Address and choosing a payment method, the site generates a QR code that needs to be scanned in the Binance app. For quick payment by QR code, click on the symbol at the top of the screen.
The second option - go to Wallets (Wallet), select Withdraw (Withdraw), then - the desired cryptocurrency, specify the address of the crypto wallet or simply scan the QR code (in this case, the address of the crypto wallet will be pulled up automatically). Next, specify the token standard in the Network and the amount to be debited. If you have specified an incorrect standard or you do not have enough money in your account to be debited, a corresponding notification will appear in the application.
How to get started using Binance.
Founded in 2017, Binance is the largest cryptocurrency trading platform. There are about 600 different trading pairs available on it, including those with fiat currencies. According to CoinMarketCap, trading volume on Binance has exceeded $ 26 billion in the last 24 hours.
Here's how to create an account and start trading on Binance. Also from this article you will find out what and where you can spend the purchased cryptocurrency.
How to start using Binance
The PaySpace Magazine editorial team previously spoke in detail about the Binance exchange. This is a cryptocurrency trading platform that is suitable for both beginners and sophisticated traders. The first version of the application is Lite, the second - Professional. You can switch between versions with a swipe in the application settings.
Pros of Binance:
- Purchase of cryptocurrencies from $ 15 or 300 UAH.
- Lower fees than other popular exchanges.
- Large selection of cryptocurrencies and trading pairs.
- Russian and Ukrainian language support.
- Margin trading is available.
- Support for 34 currencies, including the Ukrainian hryvnia.
- The cryptocurrency stored on Binance's servers is protected by the FDIC.
- There are apps for iOS and Android with two versions.
How to sign up on Binance
1. Install the Binance app.
2. Complete a simple registration by entering your email address and choosing a password (ID is optional). Then - verification and confirmation of the email with the introduction of the code, which will be sent to you by mail.
Note. Specify the ID by uploading a photo of an ID card, passport or driver's license to the application, if you want to withdraw fiat funds to a bank card, increase the limit on the withdrawal of cryptocurrency to 100 bitcoins (according to the current exchange rate, this is more than $ 5 million) and for crediting fiat funds ...
3. Indicate your experience with cryptocurrencies: experienced trader, little or no experience. If you choose the latter option, you will be prompted to switch to Binance Lite, a simplified version of the app for buying and selling cryptocurrencies. Hints and videos on how to use the application are also available at the top of the screen for beginners.
How to buy cryptocurrency on Binance
Here's how to buy cryptocurrency in the Binance app using Ethereum (ETH) as an example. The purchase will be made from a Ukrainian bank card for hryvnia.
1. On the home page of the application, click on the Buy button.
2. Specify the amount and currency for which you want to buy a cryptoasset. In the field below, select the cryptocurrency - ETH.
3. Enter the card details for payment: name, surname, card number, expiration date and CVV-code.
4. We indicate the address that you indicated in the bank when registering the card.
5. We check the transaction data and confirm the purchase. Next, we go through the verification of the bank.
6. After the purchase, the amount of the purchased cryptocurrency will be displayed in your wallet.
How to Sell Cryptocurrency on Binance
Selling cryptocurrency follows a similar principle. We will tell you how to do this using the example of selling Ethereum for hryvnia:
1. On the app home page, click on the Buy button, then select the Sell option.
2. Specify the cryptocurrency and the amount you want to sell, in our case - ETH. In the field below, select cryptocurrency or fiat money, in our case - hryvnia.
3. After confirming the transaction, a crypt or fiat currency will be credited to your wallet, in our case - hryvnia. Now you can use the money in the Binance wallet to buy crypto for hryvnia.
In version Binance Lite buy and sell cryptocurrency even easier.
1. Click on the exchange icon at the bottom of the application, select the desired one of the four application options Buy, Sell, Deposit or Convert (Buy, Sell, Deposit funds, Convert).
2. Choose a cryptocurrency, specify the currency and amount for buying a crypt.
3. Link your card, if you haven't already, and pay for the purchase.
In Binance Lite, your assets are displayed in the wallet as a pie chart. On the start page, you can view the current cryptocurrency rates.
Where are Bitcoin and Ethereum accepted?
Today, there are dozens of websites and even offline businesses that accept cryptocurrencies for payment. Bitcoin, as the most popular cryptocurrency in the world, is accepted for payment most often. However, other cryptoassets are not lagging behind - on the Internet you can find extensive articles about where, for example, Ethereum or Ripple is accepted.
So, for ETM you can buy online: electronics (Gipsybee), cosmetics (Cathy Doll), furniture (Autonomous), food, drinks (Blockchain Coffee, Drapis), gift cards (Prepaidify, Giftoff), rent hotel rooms and buy tickets ( Travala, Destinia), get paid for freelancing and pay for freelance services (Freelance For Coins, Ethlance). There are also universal marketplaces like Peddler.com, where you can buy different categories of goods for Ethereum.
How to pay with cryptocurrency
You can pay for goods and services with cryptocurrency using a QR code or by entering the address of a cryptocurrency wallet for transfer. Consider paying with Ethereum cryptocurrency using the example of a site for buying electronics Gipsybee. After choosing a product and completing registration, go to the payment page.
Gipsybee offers several payment options, including using other cryptocurrencies: choose ETH. After specifying the Billing Address and choosing a payment method, the site generates a QR code that needs to be scanned in the Binance app. For quick payment by QR code, click on the symbol at the top of the screen.
The second option - go to Wallets (Wallet), select Withdraw (Withdraw), then - the desired cryptocurrency, specify the address of the crypto wallet or simply scan the QR code (in this case, the address of the crypto wallet will be pulled up automatically). Next, specify the token standard in the Network and the amount to be debited. If you have specified an incorrect standard or you do not have enough money in your account to be debited, a corresponding notification will appear in the application.
