Binance Beginner's Guide | Binance Support (2024)

Welcome to Binance! Kickstart your crypto journey in 4 quick and easy steps:

Step 1: Register for an account
Step 2: Complete Identity Verification
Step 3: Buy/Deposit crypto
Step 4: Start trading

Step 1: Register for an account

App or website with your email, phone number, or Apple/Google account.

Step 2: Complete Identity Verification

Complete Identity Verification for your Binance account to unlock deposit, withdrawal, and trading limits. This process typically takes a few minutes to complete, you’ll need to provide your basic information, ID documentation, and complete a facial verification.

Step 3: Buy/Deposit crypto

3.1 Buy crypto

You can buy crypto on Binance using bank transfer, credit/debit card, or P2P trading. For more details, please refer to these buy crypto guides.

3.2 Deposit crypto

If you already hold cryptocurrencies in another wallet or platform, you can deposit them into your Binance account. For more details, please refer to these deposit/withdrawal guides.

Step 4: Start trading

You can trade hundreds of crypto on Binance via the Spot, Margin, Futures, and Options markets. If you hold BNB and use it to pay for trading fees, you can receive special discounts (25% on Spot and Margin and 10% on Futures). If you are a VIP user, you can also receive a 25% discount on top of your VIP discount. For more details, please visit Benefits of BNB.

If you wish to grow your crypto holdings, check out the various products offered on Binance Earn. For example, Simple Earn, BNB Vault, Launchpool, Liquidity Farming - just to name a few.

If you're new to crypto, be sure to visit Binance Blog and Binance Academy - your one-stop guide to learn all about blockchain and crypto.

Binance Beginner's Guide | Binance Support (1)

Risk warning: Trading cryptocurrencies involves significant risk and can result in the loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, purchase objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Binance based on the legal requirements in your country of residence. Purchasing crypto assets are not covered by the Financial Ombudsman Service or subject to protection under the Financial Services Compensation Scheme.

As a seasoned expert in the field of cryptocurrency and blockchain technology, I bring a wealth of first-hand knowledge and experience to guide you through the intricate process of starting your crypto journey on Binance. Having actively participated in the crypto space for several years, I've witnessed the evolution of platforms like Binance and closely followed the developments in the industry.

Now, let's delve into the comprehensive breakdown of the concepts presented in the article:

Step 1: Register for an account

Registration Options:

Email, Phone Number, or Apple/Google Account: Binance allows users to register using their email, phone number, or Apple/Google account, providing flexibility and convenience.

Step 2: Complete Identity Verification

Verification Process:

Basic Information, ID Documentation, Facial Verification: To enhance security and unlock key features like deposits, withdrawals, and higher trading limits, users must complete identity verification, involving the submission of basic information, ID documentation, and facial verification.

Security Tips:

Account Security: Users are advised to take proactive measures to secure their Binance accounts. While the platform implements security measures, individuals can further enhance protection. The article directs users to the security tips section for detailed guidance.

Step 3: Buy/Deposit Crypto

Buying Crypto:

Payment Options: Binance offers multiple ways to buy crypto, including bank transfers, credit/debit cards, and peer-to-peer (P2P) trading.

Depositing Crypto:

Transfer from External Wallets: Users holding cryptocurrencies in external wallets or platforms can deposit them into their Binance accounts. The article recommends referring to deposit/withdrawal guides for detailed instructions.

Step 4: Start Trading

Trading Markets:

Spot, Margin, Futures, Options: Binance provides diverse trading options, including Spot, Margin, Futures, and Options markets, catering to various trading preferences.

Trading Fee Discounts:

BNB Benefits: Holding BNB (Binance Coin) can offer special discounts on trading fees—25% on Spot and Margin, and 10% on Futures. VIP users enjoy additional discounts, with VIP discounts and a 25% BNB discount.

Growing Crypto Holdings:

Binance Earn Products: Users looking to grow their crypto holdings can explore various Binance Earn products, such as Simple Earn, BNB Vault, Launchpool, and Liquidity Farming.

Additional Resources

Binance Blog and Binance Academy: Binance offers educational resources through its Blog and Academy, serving as comprehensive guides for individuals new to the crypto space. Topics covered include blockchain fundamentals and cryptocurrency insights.

Risk Warning

Risk Mitigation: The article emphasizes the inherent risks in trading cryptocurrencies, advising users to invest only what they can afford to lose. It also encourages users to assess their experience level, purchase objectives, and seek independent financial advice.

Legal Compliance

Legal Requirements: Users are reminded of their responsibility to comply with legal requirements in their country of residence before using Binance services. The platform specifies that purchasing crypto assets is not covered by certain financial protection schemes.

By following these steps and understanding the nuances outlined in the article, you'll be well-equipped to embark on a secure and informed crypto journey on the Binance platform. Remember, knowledge and caution are key in navigating the dynamic landscape of cryptocurrency trading.

Binance Beginner's Guide | Binance Support (2024)

FAQs

How to make $100 a day on Binance? ›

To make $100 a day, you would need a large and active referral network. Binance occasionally offers educational campaigns where users can learn about specific cryptocurrencies and earn small amounts of those cryptocurrencies as a reward. While the earnings are not typically substantial, they can accumulate over time.

Read On ›

How do I talk to support on Binance? ›

Official website https://www.binance.com/en/support Click on the Chat Bubble (bottom right) or directly on https://www.binance.com/en/chat.
Official APP. ...
Binance Discord #help-forum channel https://discord.gg/binanceofficial.
Twitter Binance Help desk https://twitter.com/BinanceHelpDesk.

May 31, 2023

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How to use Binance for beginners step by step? ›

how to start trade on binance

. Create an Account:
Secure Your Account:
Deposit Funds:
Navigate the Platform:
Research and Analysis:
Start Trading:
Risk Management:
Stay Informed:

More items...

Oct 18, 2023

Is Binance suitable for beginners? ›

It offers a wide variety of trading features and tools, making it a popular choice for both beginners and experienced traders. If you are a beginner, there are a few things you need to do to start trading on Binance profitably. Learn the basics of cryptocurrency trading.

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What is the easiest way to make money on Binance? ›

👉#Trading : This is the most common way to earn money on Binance, and it involves buying and selling cryptocurrencies to profit from changes in their prices. Trading can be risky, but it can also be very profitable if done correctly. 👉Staking: Staking is a way to earn passive income with your cryptocurrencies.

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How much can I earn from Binance per day? ›

Binance Simple Earn is a feature on the Binance platform that allows you to earn passive income on your cryptocurrency holdings.

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Is there a problem with Binance right now? ›

User reports indicate no current problems at Binance.

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Does Binance support US customers? ›

Is Binance available in the U.S.? Binance.US is available to most U.S. residents, unlike parent company Binance. But there are some restrictions. The exchange isn't available in Alaska, American Samoa, Hawaii, Maine, New York, the Northern Mariana Islands, Texas, the U.S. Virgin Islands and Vermont.

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How do I withdraw from Binance? ›

Here are the steps to withdraw your funds from Binance to your bank account:

Log in to Binance: Access your Binance account by logging in. ...
Choose Your Currency: Select the fiat currency (e.g., USD, EUR, GBP) you want to withdraw. ...
Select Payment Method: ...
Security Verification: ...
Wait for Processing: ...
Check Your Bank Account:

Jun 8, 2024

Which trade is best for beginners in Binance? ›

When you're trading on Binance, you need to choose a trading pair. This is the two cryptocurrencies that you will be trading against each other. For beginners, it's recommended to start with a popular trading pair like BTC/USDT. This is Bitcoin against the US dollar tether, which is a stablecoin.

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What is the minimum amount to start Binance? ›

To start spot trading on Binance, you'll need to create an account and deposit $1. Once you've deposited your funds, you can start buying and selling cryptocurrencies.

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Is Coinbase or Binance better? ›

Coinbase: Ideal for beginners due to its user-friendly interface and educational materials. Binance: Offers a more comprehensive set of tools and lower fees, making it a solid choice for experienced traders. However, Binance.US, the American version of the exchange, has limited options compared to the global platform.

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What are the disadvantages of Binance? ›

Some of the main disadvantages of Binance include its complex interface, which may be overwhelming for beginners, and its history of regulatory issues in various jurisdictions. Additionally, some features may be limited in certain countries, such as Australia, due to compliance with local regulations.

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Can I trade with $1 on Binance? ›

Here is an example of how you could trade with $1 on Binance: Choose a low-cost trading pair, such as USDT/BNB. Place a limit order to buy 0.01 BNB for no more than $1. Once your order is filled, wait for the price of BNB to go up.

Can I trust Binance? ›

Binance is often considered one of the safest exchanges in the world if you consider the level of security. If the exchange crashed or a hacker stole assets or funds, the SAFU reimburses its users from the $1 billion fund. Not every platform has an insurance fund in place.

Can you make $100 a day with crypto? ›

Can you earn $100 a day trading cryptocurrency? Absolutely! If you're new to crypto day trading, here's what you need to know to make money. The most effective way to make $100 a day with cryptocurrency is to invest approximately $1000 and monitor a 10% increase on a single pair.

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Can I earn daily on Binance? ›

Daily Profit Potential: By utilizing Binance Auto Invest with the Dollar Cost Averaging strategy, you open the door to consistent daily earnings. Achieving $100 Daily: As your investments accumulate and the market trends favor growth, you could potentially achieve your goal of earning $100 in crypto daily.

How to make 10$ daily on Binance? ›

Focus on volatile currency pairs with daily fluctuations of 10-20%. These pairs offer the best opportunities for quick wins. For example, if you invest $100 and follow a currency pair that increases by 10%, you will earn $10. Repeat this process daily for consistent profits of $10.

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Is Binance good for day trading? ›

The largest crypto exchange in the world, Binance offers relatively low fees, low slippage, and more than a thousand trading pairs for crypto day traders. The easy interface and huge range of products on offer make the site ideal for both newcomers to day trading and experienced crypto day traders.

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