Summary
  1. What is Binance?
  2. How to register on Binance?
  3. How to buy crypto currencies on Binance?
  4. How to withdraw money from Binance?
  5. FAQs about Binance

What is Binance?

Launched in 2017, Binance is an online trading platform that lets you buy and trade cryptocurrencies. This site is considered to be the biggest on the market thanks to the volumes that are traded there every day. It is also one of the brokers that offers the lowest fees on the market, unlike Alvexo or even eToro, in particular thanks to the use of their own coin, the Binance Coin (BNB) . Binance offers a catalog of over 300 purchasable cryptocurrencies.

Binance is a broker that only offers cryptocurrency assets, you will not find forex or traditional stocks on the stock exchange.

Discover our opinion on this exchange platform.

How to register on Binance?

To register Binance , please click here . Fill in the necessary information for your user account to be created (registration via e-mail or mobile phone).

Once this step has been completed, you will receive a code via the email (or mobile) address you have given. Enter this code in the form, you are now registered. However, there are other important steps to follow.

Verify your account with your ID (KYC)

Before starting to trade, like all trading platforms, you must verify your customer account with your identity document, for this, click on “identification”.

Once this step is completed, please click on “verify”. You will then be redirected to a page that will look like this.

Please select your country of residence. Make no mistake, this is a crucial step for further verification of your customer account.

You then arrive on another page where you will be asked for a lot of personal information. Again, take the time to fill in this information carefully. Last name, first name, place of residence, all the information that appears on your identity document must correspond to what you mark on the site.

As soon as the information has been filled in, the identification process is not yet complete.
After filling in the information on your ID or passport, you will need to send it to Binance Support who will verify that you are who you claim to be.
Finally, to fully verify your identity, a photo of you taken in real time will be requested.

Once all the steps have been completed, Binance Support should analyze your information as soon as possible. You are also advised to complete all the steps in less than 15 minutes and not to refresh the page during the identification process.

Securing your account on Binance (2FA)

Before making your first coin exchange, it is important to secure your account. Many users neglect the security of their online accounts despite the fact that several security options are available, for our part, we are of the opinion to systematically secure their accounts, an opinion shared by the majority of traders.

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2FA is a double authentication service that further strengthens the security of your account. We are of the opinion to activate it systematically, and this on all your accounts on the trading platforms where your money circulates.
To access this option, please click on “security”.

You then arrive on a page that will provide you with three different methods of double authentication. We have decided not to present the first one to you and to only speak to you about authentication with Google or via SMS on your mobile.

If you decide to identify yourself with the Google service, you will need to follow several steps.
– Step 1: Download the Google Authenticator app.
– Step 2: scan the QR CODE with your application. If you are unable to scan the code, please write down the code that is displayed in your application.
– Step 3: Write down your code. In case of loss or theft of your phone, this code will be used to authenticate you with Binance support .
– Step 4: please enter the code that you receive on your email address as well as the code that is displayed on your Google Authenticator application.
Once all the steps have been completed, your account is equipped with double authentication.

You will also be able to secure your account with your phone number.
First, you will need to provide your phone number. Binance will then send you a code that you must fill in as soon as possible. SMS authentication can be complementary to Google Authenticator.

How to buy crypto currencies on Binance?

Binance offers its users to trade cryptocurrencies. To do this, follow the next two steps.
– Step 1: click on “buy cryptos” located to the right of the red arrow.
– Step 2: choose “bank deposit”.

Buy cryptocurrency by credit card on Binance

Once on the page, choose the purchase method that suits you best. In our case, it will be a purchase of crypto currencies by credit card.
Step 1: click on “credit card (VISA/MC)”
Step 2: enter the amount of your purchase.

Once the first two steps have been completed, all you have to do is fill in the following information. You will then only have to fill in your banking information and your currency will be in your Binance account .
Contrary to a transfer where no fees are to be expected, with a credit card, expect a 2% fee of the value of your deposit.

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Buy cryptocurrency by bank transfer on Binance 

Binance also offers its customers to buy cryptocurrency by making a transfer. To do this, you must choose the “bank transfer (SEPA)” option.
Step 1: Insert the deposit amount you wish to make.

Important Notes: The name that appears on your bank account must be the same as your Binance account . If this is not the case, your transfer will not be authorized by the site.

Step 2: go to your bank or your bank’s website and make a transfer by filling in the information in the red box.

Unlike credit card deposits, no fees will occur when making a transfer.

How to withdraw money from Binance?

Withdraw money in cryptocurrencies on Binance

On Binance , it is possible to transfer your coins from the Binance platform to other online exchange platforms such as FTX , KuCoin or Bittrex for example. It is also possible for you to send your crypto currencies to a wallet whether physical, software or paper, it is practical if you want to pay a friend.
Step 1: Log into the site and click on “wallet”, then “wallet overview”.

Step 2: Click on “withdraw”.

Step 3: then click on “your cryptos”.

Step 4: Choose the coin you want to transfer from your Binance account .

Step 5: Choose the network. Attention, the network corresponds to the Blockchain which hosts this coin, do not get the wrong network, if you send a BTC to a native bitcoin wallet choose Bitcoin. An ERC20 token must transit on the Ethereum network (ERC20), a token on the Binance Smart Chain circulates on the BSC network (BEP20). If you choose the wrong network, these coins can be lost forever, Binance does not reimburse for customer errors. You are therefore advised to send a small amount the 1st time to check that the transaction went well and then to send the rest in a second transaction to avoid nonsense if it is the 1st time you are making a withdrawal. or you have any doubts. It is better to lose a little in costs than to lose everything on a silly mistake.

Step 6: If you chose Bitcoin, please enter your recipient’s BTC address.
It is very important to enter a Bitcoin address. If you enter another address, you may lose the coin you want to send to your recipient. (Same for Ethereum and any other coin)

Step 7: Fill out the final information needed to ensure your coin transfer goes smoothly.

Step 8: an SMS will be sent to you with a code that you must fill in as soon as possible. This service allows Binance to ensure that you are the person who wishes to make this transfer.

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How to Withdraw Euro Money on Binance

To withdraw money in euros on Binance , first make sure you have changed your crypto currencies to the fiat currency of your choice. Once you have achieved this, follow the steps.
Step 1: Log in to your account, click on “wallet”, then on “wallet overview”.

Step 2: Click on “withdraw”.

Step 3: Select “Fiat”.

Step 4: Select the currency in which you want to receive your money.
Step 5: Then choose how you want to receive your change. You have the choice between bank transfer (SEPA) or credit card (VISA only).
Step 6: Write down the amount you wish to withdraw and click “continue”.

Step 7: fill in the necessary information to receive your money on the method you have previously selected. Finally, before confirming your transaction, a summary of your withdrawal will be made.

A complete tutorial on Binance has been made

FAQ on Binance

Is Binance safe?
Binance is the largest website to exchange, buy and sell cryptocurrencies in the world. It is used by millions of users every day. Binance is one of the most serious brokers in the industry, and you can safely provide them with personal details. However, cryptos are not without risk, and if you do not wish to trade and want to protect your cryptocurrencies from potential hacks against Binance or your own account, you can withdraw your cryptocurrencies to a hardware wallet such as Ledger. Not your keys, not your cryptos.

Can one pay with credit card on Binance?
You can buy cryptocurrencies on Binance with your credit card. To do so, refer to the earlier section on “Buy cryptocurrencies with a credit card on Binance” in this article.

Does one need to be over the age of majority to register on Binance?
Just as for any broker in traditional markets, you must be over the age of 18 to start using Binance and trading cryptocurrencies, as mentioned in the general terms and conditions. Thus, if you are under the age of 18, do not try to register for Binance as you will be caught upon verification.

For how long has Binance been around?
Binance is a trading platform that was launched on 14th July 2017 and has its headquarters in Hong Kong (special administrative region in China). Its CEO is Zhao Changpeng. In 2018, Binance became the largest cryptocurrency broker worldwide in terms of volume and number of users. It also has its own cryptocurrency, the Binance Coin (BNB) and its own blockchain, the Binance Smart Chain.

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