Buying Bitcoin (Binance)
To save BIG on your Binance trading fees, sign up to Binance using https://www.binance.com/en/register?ref=10701393
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The next exchange that we're going to take a look at and teach you guys how to use is Binance. Binance is the exchange that I personally use the most just because of just the sheer number of coins on this exchange, and also additional features such as leverage trading and also the lending platform.
Just like Coinbase. Binance also offers the option to buy cryptocurrencies with your credit card. So if you're looking to buy cryptocurrencies such as Bitcoin or Ethereum, you can directly buy it on Binance. To start off with Binance, you got to register for an account. So there is this registration button up here to click that to register.
So enter your email and your desired password. You also have the option to enter a referral ID. We have the referral ID "10701393" for you guys, and if you enter that in, you also get a 10% discount on all your trades on Binance to complete the registration process. Complete the slider here. So next up you must verify your email address.
So check your email address for that verification code and enter it here. As an additional tip, if you guys don't receive this email, make sure that you check your spam folder. Sometimes it might end up there as well. All right, we got our account. So now we actually are asked to add additional authentication procedures.
Now this is actually a highly advice because you're dealing and trading with real capital. So in that case, hackers can really steal money and you can lose money here. And this is why we highly advise that you set this up. For the sake of convenience, we have a special authentication guide for you guys to set this up and it would just be right after this video.
So for now, I'm just going to click skip for now to show you what's really in the account now, because this is the new account, we obviously have $0 million and 0 million cents inside. Now you can always buy cryptocurrencies directly, so you can see there's a fit option called buy crypto, and this is the one that you use to buy cryptocurrencies.
So click the buy crypto option here. Now on this page, you have the option to buy cryptocurrency. So for example, if I want to buy, say, $50 with off Bitcoin, you can just enter it a $50 there, click the next button, and you have multiple options available. So normally speaking, the top option is almost always a best using the Bioness method and as supports, countries like Austria, Belgium, you've got a UK, Iceland, and a lot of European union countries inside.
Now, not every country is supported. So if this option doesn't work for you and there's an error, you can always go check up the simplex and the coin all method. Typically what I would say is that if you have some problems, come on our forums and discuss it with other people in your local region. Every region is different.
Every card is different and does this why it's always hard to, a little bit hard to make a catch all guy for everyone. In terms of minimums, the mil, the least amount of Bitcoin you can buy with the Binance Method is $15 US dollars worth. And if you want to use other options such as simplex, sometimes if you want to use the MasterCard option and you have to use simplex, the minimum is $50 so anyways, I'm going to try the simplex method here because the initial Meffert just didn't work very well for me.
So after filling all my details, I can just click pay now and submit the order. Oh, now we've got our Bitcoin purchased. Now of course it's going to take a little bit of time for that Bitcoin to arrive, so we'll have to probably wait one or three days business days for up acquainted to arrive. If you encounter any problems, you can always click the support feature on the bottom right hand corner or come to the forums to discuss what problems you're having.
Typically what happens is that the credit card company will take an initial mini fee, maybe less than $1 on your card, and then have the full amount. That's usually how the transactions work and you'll see that coming in. Congratulations at this point you just made and register for a Binance account.
You made first Bitcoin purchase on Binance and you're waiting for those funds to come in. Now we're going to take this to the next level in the next few classes we're going to talk about is we're going to set up some basic trades on Binance, such as setting up a sell order or a limit order, if you want us to call it that, and some of the basic treating features.
Then we're also going to teach you how to withdraw that cryptocurrencies from the exchange. So if you ever want to put it into your own wallet to skull and spend it or transfer it to another exchange, we'll take you through a step by step approach of how to do so. And finally, but not least, we're gonna teach you about account security.
We're going to teach you how to secure this account with something called the Google authenticator, which will require you to give a special code from your mobile phone every time you log in. This. Extra feature will protect you from hackers because now, even if someone guessed your username and password, they still need to have access to your phone in order to access your account, and that's only something you can do.
So make sure you stayed up for the next few lessons and skip to the part that interests you the most.