How to get started with Binance exchange as a User.
Currently, there are many crypto exchanges where users can buy and sell cryptocurrencies. Compared to many other crypto platforms available, Binance Exchange offers its users one of the best exchange platforms for trading cryptocurrencies.
Launched in 2017, Binance has stood the test of time in the crypto space and has forged a reputation for competence and efficient service delivery. As a result, Binance is ranked as the best crypto exchange in the world. This crypto exchange offers users both crypto-to-crypto trading and fiat-to-crypto trading.
Similarly, users in certain countries can purchase digital assets on this platform with their credit cards. Binance also offers futures trading to experienced traders who use its platform. Similarly, users of this exchange can make use of the Binance lending service. This feature allows for lending BTC or lending other cryptocurrencies to margin traders who pay back with interest.
With the abundance of wonderful features on offer, it is not surprising that many are joining the Binance Exchange due to the variety of services this exchange offers. However, a unique challenge arises for many new users. The challenge involves successfully setting up an account on the Binance Exchange.
In response to that problem, this article will guide all looking to set up an account on the Binance Exchange. This article will provide details on how to set up an account on the Binance platform, set up security for your account, and fund your account, among other things. After reading this article, we are convinced you will find it easy to set up and use your Binance account.
How to Set Up an Account
Setting up an account on the Binance Exchange platform is very simple and straightforward. If you want to set up an account, you need to follow these easy steps:
The first step required in setting up a Binance account is to get registered. You will find the registration tab on the landing page of the Binance website. When you find the landing page, click on the register tab to start your registration.
On the registration page, you will be required to provide your email address and create a password. There is a referral box for users who were referred by other users on the registration page. However, the referral box is optional.
To continue your registration, you must click on the terms and conditions box. Users are expected to read the terms and conditions before ticking the terms and conditions box. After providing all necessary information, click on the Login button to continue your registration.
The next step in the registration process involves confirming that you are not a robot. During this part of the registration process, you will be asked to complete a simple puzzle. The puzzle is very easy and straightforward to pass. After completing the puzzle, an email will be sent to our email address so that you can verify your email.
To complete this part of your registration, you need to check your email and verify your email. Once you complete this process, you become an owner of a Binance account.
How to set up security for your account
It is very vital that you set up security on your Binance account. The security feature on this crypto exchange helps to protect the digital assets of users. Similarly, the security feature helps to prevent the theft of digital assets from your crypto wallet.
New users, who join this platform are always encouraged to set up a Two-Factor Authentication or 2FA. Two-Factor Authentication is a feature that provides users with an extra set of passwords. Once it is initiated, users will not be able to access their Binance accounts unless they provide their 2FA password.
The Binance Exchange allows users to set up one of two different types of Two-Factor Authentication. You can either opt for google authentication or SMS authentication. Setting up the two-factor authentication is very simple and self-explanatory.
If you opt for the google authentication method, you will download the google authenticator app. For SMS authentication, users must provide a mobile number that is currently in use. The instructions on how to set up the Two-Factor Authentication can be found on the security page of the Binance website.
How to fund your account
Users who have successfully set up their Binance account can now fund their accounts and begin to use the services the platform offers. If you want to fund your Binance account, you must first log into your Binance account and head to your wallet overview page.
Next click on the deposit button you will find a variety of options for purchasing cryptocurrencies. Some options available include buying crypto with credit cards and peer-to-peer, deposit crypto, and deposit cash. For the sake of this article, we will select and explain the deposit crypto option.
Once you select the deposit cash option, you must also select the type of cryptocurrency you want to deposit. For the sake of this article, we will select Bitcoin (BTC). The next step in the deposit process involves selecting the correct deposit network. For Bitcoin, the correct deposit network is the Bitcoin network (BTC).
This example requires users to send from another crypto platform, as a result, you must select the bitcoin deposit network for the transaction to go through. When depositing funds using this method, do not select the cheapest transaction fees. Instead, select the transaction fee that best suits the external platform you are transferring your funds to.
The net step is to copy your Binance wallet address and paste it in the address section of the external platform you are transferring from and send your funds. If you follow the above-listed steps, you should get your funds in a short time. However, if you don’t follow the instructions listed above, you may lose your funds.
After sending your funds to your Binance address, you may need to wait for a short time for your funds to be transferred. Check the transaction page of your Binance account to confirm the receipts of your funds.
Using the Binance platform is very easy and straightforward and we hope that this article has provided you with helpful information on how to set up your Binance account.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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