How to buy your first Bitcoin with Binance?
Yes, Bitcoin went through some tough times last year, but it’s not the first time. We’re only at the beginning!
Just keep in mind that even if we experienced a massive crash last year, Bitcoin is still the most profitable asset ever. And Bitcoin is still 2019’s best-performing asset. Bitcoin outperformed U.S. technology stocks ( by 31% to be exact), and is considered by Goldman Sachs to be the best performer since the year started, and Bitcoin has more than doubled in value in 2019.
But you don’t know how to invest in this asset class? That’s why we wrote this guide for you, and keep in mind that you are still at the “early stage” of it. In other words, if you buy cryptocurrencies now, we can compare it to the stage of the Internet in 1996.
And to be honest, buying Bitcoin is really easy now!
Now I will walk you through the process of buying your very first Bitcoin with Binance.
Binance is a leading and user-friendly cryptocurrency exchange platform that lets you buy Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) and well over 500 other cryptocurrencies.
Binance Exchange is the world’s largest crypto exchange in terms of transaction volume and one of the fastest in the world. For instance, on average 1 billion dollars are exchanged per day. Impressive, isn’t it?
Besides, it is a huge and renowned organization that offers various security services (2-factor authentication and a vault for your cryptos, insurance against all risks). Thus, even in the event of a minor security breach (it occurred in May 2019), Binance refunded the victims via its secure asset fund.
First step: Registration
Click on this link https://cryptothingies.com/recommends/binance/ and enter the following information.
Tip: Choose a strong password, and ..don’t forget it!
Second step: Confirm your registration (via your email)
Go to your inbox and confirm.
Now login with the previous information.
During the first login, you’ll see a 2 minutes security quiz that will show how to secure your account and how to spot scammers. I highly encourage you to watch it.
Then you will see a message to enable 2FA. Do it it’s beneficial, and I would recommend using Google Authenticator rather than SMS authentication (even if it’s not usually some scammers can hijack text message).
Then I would advise validating your identity (KYC) with your identity card or driver’s license, for example, using your mobile phone or webcam, and then it will take from several minutes to several hours to verify your identity (for more information you can check this link https://www.binance.com/en/support/articles/360027287111)
Your identity documents are safe with Binance and will never be transmitted to third parties
How can I buy BTC or another crypto with a credit card on Binance?
As soon as your identity check has been confirmed, you will be allowed to buy either directly by credit card or by bank wire transfer by using the “buy crypto” page; you will have to fill in your card information, your customer’s data and you will get your first cryptocurrencies! (pop the champagne)
In case you want to buy any other crypto, you have to buy BTC, and with it, you can buy any other crypto via the “exchange” page.
Want to buy BTC or any other crypto with Bank Wire?
Another way to do it is to make a deposit with a bank transfer; in this case, you will have to buy stable coins listed on Binance by transferring FIAT from your account. Then, use these stable coins to buy Bitcoin or any other crypto on Binance.
Personally, I think Binance is the most reliable way to buy cryptos and the cheapest if you use bank transfers. And even if you have to wait a few days (for the deposit), the buying process is safe and the company is reliable. Want to learn more? Follow us on Twitter