This tutorial will guide you through the process of trading Cryptocurrency using the most popular Cryptocurrency exchange, Binance.
In Part 1, I will guide you through signing up and making your first deposit. If you have already done this and want to skip to the actual trading part, click here for part 2
About the Binance Cryptocurrency Exchange
Binance supports a wide range of Cryptocurrencies including: Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Cardano, Stellar, IOTA, TRON, NEO, Monero, Dash, and many many more (Full list can be seen on their website here). Binance also has one of the lowest trading fees around, at just 0.1% (This can be reduced to just 0.05% by using Binance’s own coin (BNB) to pay the fee). Binance has no deposit fees at all.
It does not require any tedious or invasive account verification like many other Cryptocurrency Exchange websites, simply an email verification.
Creating An Account On Binance
The first step is to create an account which is completely free. Click here to open the Binance Cryptocurrency exchange website in a new tab.
Click on either the “Create Account” or “Registration” links as shown in the image below. Or just click here to go straight to the Registration page.
This will take you to the registration screen.
- Enter your email address
- Choose a password(make sure to use a strong password)
- Binance has many security measures, including Google Authenticator and 2 factor authentication, which you can(and should) enable after creating your account
- Finally click the “Registration” button
- This will create your Binance account
- Verify your account by simply clicking on the “Verify” button in the email that Binance has sent to the email address you used when you registered. If you have not received the email, wait 5 minutes and also check your junk/spam folder
And that is it, you now have a verified Binance account. You can now Log In.
Logging In To Binance
- Enter your Email address and password and click “Log in”
- You will be presented with a slightly odd puzzle captcha (to prove you are human)
- Simply drag the slider to align the puzzle piece with the hole. This can be a bit finicky, it has to align perfectly.
Choose the Cryptocurrency you wish to deposit from the drop down menu.
After clicking on your desired Cryptocurrency, you will be presented with instructions on how to make the deposit. In most cases, it will simply be an address to which you must deposit your desired amount.
To make sure you deposit to the correct address, I suggest you either click the “Copy Address” button, or the “Show QR Code” button. This will generate a QR code that you can scan to make the deposit from a mobile app.
Send your desired amount of your selected Cryptocurrency to the address shown, using your preferred wallet/app. You can send as much or as little as you like. But remember most coins have a transaction fee, so sending small amounts will be less efficient.
Your deposit will show up at the top right of the deposit page in the “History” area shortly (the time varies depending on the coin chosen). After the required number of confirmations, the status will change to “Completed”, and the balance will be available in you Binance account for you to make your first Cryptocurrency exchange.
Now that you have made your first deposit, you can move on to part 2 of the tutorial where I will guide you through making your first exchange.
Click here to sign up now.