How do I sign up correctly?(Binance account creation tutorial) How can I pass the verification process quickly? Can I buy cryptocurrencies with a credit card or is a bank transfer better?
Where can I even find the right crypto currencies to trade and which financial indicators and tools are best suited to make money with crypto trading?
All these questions I answer step by step in this. Binance account creation tutorial So lean back and relax. Maybe you’ll get yourself a coffee first and then we’ll get started without further ado.
allrightOKsotheveryfirstthingweneedtodohereisofcoursetocreateabinanceaccount So first go to binance.com and then next press this button here.
1-Why is the Binance registration process more complicated?
This registration process is a bit more complicated than, for example, registering with Google Instagram or similar services.
The reason for this is that you have to go through a verification process in which you have to prove your identity.
And this is something that financial institutions and other crypto exchanges are legally required to do. And it also improves the security of the platform.
Now click on “Sign Up” here at the top right. When registering, you can either register by email or phone number. You also have the option to sign up with Google or Apple.
Choose a registration method and confirm your email address
It doesn’t really matter what you choose here so just choose what you like. Next, you need to confirm your email address. So check the email that is shown to you.
And you should see an email that looks something like this. Next, you should open the email. And you want to copy this activation code.
Copy the text with Ctrl+C and then press Ctrl+V. Now create a password. Use at least 8 characters for this, including at least one number and one capital letter. According to the instruction manual.
2-Beginning of the official identity verification process
So make sure you paste all these letters and press now. Next. So guys, your account has been successfully created and it’s time to set it up. And here where it says “Referral ID” you need to enter this code. This is my referral code for Binance and with this code you get a 10% discount.
On all your transactions you also support the channel at the same time. After entering the code, please click on “Next”. And now it’s time for the verification process. First, you need to select your country here to be able to search for it afterwards.
Types of documents required to prove identity and address
But since I am from Sweden, I will of course select Sweden. You now see that we need to perform a few steps here to verify your account.
This takes about 7 minutes. For this, you need to provide some personal data and present an official photo ID, for example your identity card or passport.
Or another government-issued ID? You also need to perform a short liveness check to confirm that you are the person on your ID. For this, you basically need to take a short selfie where you turn your head a little.
How to complete the verification process successfully
Just ask how it works if you, for example, set up your Apple Face ID. Afterwards, you need to answer a few short questions. And you also need proof of address.
The documents that can be used as proof of address. Are these things like utility bills, bank statements, or other official documents? Documents. So let’s press “Next” now and start this process.
First, you need to state your nationality here, in my case Sweden. For this, please enter your first name, your last name, and your date of birth.
Moving on to the official identity verification stage
Next up is the identity verification. You will now be redirected to another website to complete the further steps. There you need to present your ID and take a selfie.
You can also do this with a mobile phone, and that’s exactly what I did when setting up my account. It was significantly easier to scan the face and also present the ID on the phone, therefore I recommend you use the phone for this step. But you can also. Use your computer.
Why is it preferable to use a phone to complete the verification process?
So let’s press “I want to complete via mobile phone”. Now you just need to scan this QR code in the Binance app. Next, simply follow the step-by step guide in the Binance app.
Since I have already completed this, I cannot show it again. But if you have questions about this process, you are welcome to contact me.
Leave a comment below and I will try to reply as quickly as possible. Once you have followed all the steps in the app. The review took about 5 minutes. Okay. Congratulations.
Ensuring the verification process is completed successfully
Your Binance account is now set up. And ready to go. To make sure you are verified, you can simply click on this button at the top here; it should then say “Verified”.
But as I said this process. That should actually be very quick but I have heard that the verification duration can vary a bit here.
So if you are having problems, just leave a comment below and I will do my best to help you. Okay guys, this is what the home screen should look like. If you are not currently on this screen, just go up to the Finance symbol and click on it. This will take you to this page.
Find the most popular cryptocurrencies and available services
As you can see here, the most popular cryptocurrencies like Bitcoin and Ethereum are listed. Finance Coin and so on. And if you click on this button here, you can see the new offers on Binance. And up here you see that we have Bio Crypto Markets with Futures trading Square earn and.
In this tutorial I will cover the most important ones. Alright. The very first question you might ask yourself is of course: How do I buy my first cryptocurrency? The quickest and easiest way to buy cryptocurrency is to use a credit card.
Buying currency using a credit card
To do that, we go up here to Shopping. Press the button. Next, we need to specify how much we want to buy and we also need to specify the cryptocurrency.
We want to buy. So let’s assume we want to spend 100 dollars. The minimum amount here, as you can see, is 15 but we choose 100. Here are the dollars.
You can change the currency, meaning the currency you want to spend in, in this scroll bar, but let’s just stick with US dollars. And of course you also need to select what you want to receive.
Here you see that USDT is displayed. This is basically a stablecoin that tries to mirror the value of the US dollar. With USDT you can buy other cryptocurrencies.
Payment steps using Visa or Mastercard
But you can also buy Bitcoin instantly, for example, and now as you can see, if you spend 100 dollars.You get 00015 or 16 Bitcoin.Next, select your payment method. Here you can either choose a).
You can pay with Visa or MasterCard or also use Google Play.And Apple Pay as well.But here we go.Enter card here and click Confirm.Next, we add our card.
To do this, simply enter your card number, the expiry date and the security code. It is important that the cardholder name matches the name on your Binance account.
Also make sure that all details are correct and the address is correct. When you are finished, simply click “Confirm”.
Comparison between credit card and bank transfer
What is the advantage of using a?With a credit card it’s quite fast. Usually it takes a few minutes up to an hour at most.
The disadvantage of using a credit card, however, is that the fees are usually quite high.Another disadvantage of this method is that many credit cards have limits if you need to buy very large amounts.
This method.Maybe not the right one for you.Another method for buying cryptocurrencies is the bank transfer and the big advantage of this method is that the fees are much lower.
Choose the right currency for your geographic region
To make a bank transfer, we go here to the “Deposit” tab.Here you first see that you need to select the desired currency. Since I live in Europe, I usually just use EUR here.
Since I am from Europe, I use the SEPA transfer. The fee is only 100 €. That is very cheap and the processing time is zero to two working days.So it takes a bit longer than with the credit card, but at the same time the .fees are eliminated.Are much lower so if you want to order a large size
Deposit. This method is definitely recommended. Please note that in other regions you may have other options available. As far as I know, this only applies to Europe.
Expected time for receiving funds in the account
So it depends on where you live.The processing can take a bit longer but now we can click “Next” here.Next, we need to specify the amount. Let’s assume we want to transfer 10,000 €. The limit, as far as I know, is 20,000.
Here you see amounts from 2 to 20,000.let’s use ten thousand herePress “Next”.And this is especially important: As you can see, the name on your bank account must match the name you are registered under.For your Binance accounts, Swift transfers are not supported.
Here you will find all the necessary details to complete the transfer.The BIC, the name of the bank and the address.
Verify the accuracy of the data before submitting
Then you simply need to log into your online account.Banking platform.Then select the option to make a bank transfer.
Afterwards, you need to enter all these details and ensure that everything you enter here is correct.After you have checked again whether the information is correct.When you are ready to make the bank transfer.And you should receive the money within a few working days.
Once the money has arrived in your Behance account, you will receive an email and a notification.And then you can start trading. So once you have some money in your account, whether by credit card or bank transfer, we can start crypto trading. But before that
Check balance and recent transfers
Let’s take a closer look at where our money or our cryptocurrency is located. So we want to go to this lower area here and take a closer look at the assets.And here you will find an overview of all our cryptocurrencies.
As you can see when you first open this page, all the information is initially hidden. To display this information, simply click on the “I” here.
My estimated account balance is then currently 182 $, so 00029.Bitcoin and for me personally, since I live in Sweden, the taxes on cryptocurrencies are very high.
Understanding the movement of transfers and previous transactions
For tax reasons, I use a different platform called Avanza for my cryptocurrency business, which, however, is only available in Sweden.But if you scroll down a bit here, you can see my assets directly here.You can see that I currently own some Euros.
In total I have 171, so almost a whole Euro.Or to put it differently: That equals 182 dollars.And I also have a tiny, tiny.amount of bitcoin You can also see that at the end of this page we have listed some recent transactions.
Selecting the currencies to trade between
For example, you can see that I transferred some Bitcoin to my Binance account.Approximately this amount was used.And I later converted that into Euros.But yeah, right here you get an overview.All your assets, whether cryptocurrency or chat.So guys.
Now we are finally ready to start crypto trading on Finance.Let’s start by looking at the simplest way.To trade cryptocurrencies.For this, we click on the Trade button up here and then navigate down here to “Trade, convert and block”. This is the easiest way to trade in any size.
How to choose the currency and the amount to be converted
To be able to trade here, we need to enter which currency we want to exchange from and which currency we want to exchange to.2 Remember that I currently have Euros in my account. To change the currency we want to use here, we simply press this button here.
As you can see, I currently have 170 € and want to exchange these into cryptocurrency. So let’s select Euro here. Next, we enter the amount, the entire amount. So 170. Let’s assume I want to buy Bitcoin.
Transfer process completed successfully
By default, Bitcoin is selected here. But if you want to select another cryptocurrency, just click on this button here and search for your cryptocurrency. You can search for Ethereum, for example.Or XRP.Or any other cryptocurrency.
You want.Now let’s assume I want to buy Bitcoin, so I will exchange 170 €.To 000298.Bitcoin Next, we want to click on this preview conversion here. You see that you have a few seconds here.To press convert.
Using the currency token in the search
To get this exact price – and the reason why we have a timer here is of course that the market is constantly moving so that Balance can only guarantee a price – this is necessary.For a certain number of seconds so you can see when this timer resets.The amount of Bitcoin you receive.
It will also be a bit different but now we press Convert.For this price and as you can see the conversion was successful.And to confirm once again: We now have Bitcoin in our account. We can go to our wallet here.
Using the currency token in the search
Let’s deactivate this button again that hides the entire balance.And you can now see that we have that in our account.000.297.Bitcoin.But now we actually return here to convert and block trading.Because you can also do that.This means, for example, that you can exchange one cryptocurrency for another. Let’s assume we now want to buy Ethereum, for example.
And now we have Bitcoin in our account.What we want to do now is the following: We want to use.Bitcoin. So we select Bitcoin and enter the amount. Let’s enter 000297 here. So we are basically using …Our entire Bitcoin assets.
Handling any errors during the conversion
To select Ethereum, we click on this button and simply search for ETH.ETH is the.Ticker symbol for Ethereum.By the way: When searching for cryptocurrencies, it is easiest to search by the ticker symbol. And if you don’t know the ticker symbol of your cryptocurrency, you can simply google it.
Make sure the new currency has been received in the wallet.
Select the symbol for the respective cryptocurrency.Now let’s take Ethereum. As you can see, we are converting 000 to 97 Bitcoin.And we get 00527.Ethereum.To convert this, we click again.Preview the conversion. We have a few seconds to guarantee the price.
Final conversion to cash or other currencies
And when we clicked Convert here, we received an error code. Maybe we were a bit too slow.So we repeat this conversion. As you can see, it was successful. We converted that many Bitcoins into Ethereum. To check once again if we have Ethereum in our account, we can click here.
Choose the final amount for transfer or withdrawal
And as you can see, that is now the case.00527 Ethereum in our wallet.Last but not least, we now actually want to convert.Here at Ethereum, you can withdraw cash. So we simply select what we do.Ethereum the amount we want to convert.
