If you are just exploring cryptocurrencies and various exchange platforms, you must have come across Binance.
Binance is a renowned and trusted name with a global presence. In 2022, 30 million people used the platform, according to Earthweb.
As a beginner, if you wish to try out the platform yourself, here are some useful pieces of info you need to know about.
What is Binance?
Founded in 2017, Binance is a leading platform offering cryptocurrency exchange in multiple currencies.
It is a beginner-friendly online exchange platform that offers multiple resources to beginners to learn the basics and actively invest in learning from practical experience.
You can carry out crypto-to-crypto exchanges in over 360 cryptocurrencies and virtual tokens. The platform deals with currencies like BTC, LTC, and Dodge and has its own currency, known as BNB.
The Binance platform provides a crypto wallet for traders to store their electronic funds, earn interest or transact using cryptocurrencies.
Learning the Basics
Binance offers multiple resources, documentation, blogs, and courses to help people learn about the basics of crypto, trading, investing, financial analysis, etc.
With nearly half of Binance users being hobbyists (according to earth web), the platform is not only for experts but for anyone interested in this domain. You can check out the Binance Academy, where you will find multiple courses on blockchain and crypto.
Using Binance as a Beginner
After understanding the Binance platform and learning the basics of crypto, you can follow these steps to buy your first Bitcoin or any other altcoin.
- Create Your account
Open the Binance site and go to the homepage. You will see a “Register” option at the top right corner. Click it.
- Verify Your Account
Go through the verification steps to prove your identity and fulfill the Binance legal requirements. This step takes only a few minutes.
- Use your credit/debit card
Now you can buy crypto using your credit or debit card with the Convert feature. With the trading view, you can transfer currency from your bank account to purchase digital assets.
Check out how to deposit money in Binance account for more info. Learn about withdrawing money from your Binance account on the BlogPakistan site.
- Buying a Bitcoin
You can now begin to diversify your portfolio by buying an altcoin such as BNB. Log in to your Binance account, move to the “Buy Crypto” button, and click “Credit/Debit Card.”
Next, you will need to choose from different cryptocurrencies. Select the correct fiat currency (fiat currency is a conventional currency like the US dollar). Now fill in your card details and wait for the crypto to be credited to your account.
That’s it!
The World of Crypto
When you buy crypto, you can sell, trade, or hold it as per your desired strategy. You can consider long-term holding by keeping your cryptocurrencies in your Binance account or transferring them to an external cryptocurrency wallet.
Have fun with your digital assets!
Advantages of Using Binance
Binance is a great platform for you to explore the world of Crypto, here are just some of the reasons why a beginner should consider Binance:
- Freedom
Anyone can use the Binance platform. You are free to explore and learn crypto through active investment and trading. Note: You must be at least 18 to use the platform and have a valid ID card.
- Safety
The network is designed in a way that it’s very safe and immune to hackers. When you work with Binance, you don’t need to worry about your data and assets.
- Fast and Cheap
Transferring funds is super fast, easy, and cheap with Binance. The cost of transferring funds internationally is very low compared to international wire transfers.
- Beginner Friendly
Binance offers tons of resources to beginners to start their crypto journey. You can learn through blogs, courses, and practical use of the platform to get started.
Our Take!
Being one of the most popular platforms for crypto exchange, Binance offers great opportunities to beginners.
You can learn, earn and grow your profile and become financially independent by benefitting from the ever-growing crypto market.
The steps are easy to understand, there are multiple resources, and a huge community to interact with and learn from.
Try Binance today and see for yourself
