▷ How to buy cryptocurrencies on Binance (Tutorial)

I guess you already know how buy cryptocurrencies on the best sites. Just go to simple shopping platforms like Coinbase. That said, you must have noticed that on these shopping sites, you can only buy a very limited number of cryptocurrencies. For example, you can only buy 9 types of cryptocurrencies on Coinbase. Additionally, you can only buy very well-known cryptocurrencies. There are more than 2000 cryptocurrencies in circulation.

So how to get it?

In fact, this is a situation that happens to us very often. Typically, you want to buy a token of ICO, and you don't know how to do it?

It is then to you that I am addressing myself here. This article wants to explain how you can buy cryptocurrencies on exchange platforms where you can find almost all existing cryptocurrencies.

The step-by-step guide to buying cryptocurrencies on exchanges

Here are all the steps to follow to buy cryptocurrencies on exchange platforms like Binance or Bitfinex.

binance tutorial — The trading site Binance

Please note that to simplify this article, I would take as a reference Binance. It is indeed one of the largest cryptocurrency exchange platforms. It is also one of the most secure and complete. Ideal for beginners and experienced traders. Above all, if I chose Binance, it is because often, when a cryptocurrency is listed on this platform, it is a consecration in some ways. Likewise, when a cryptocurrency is listed on Binance, one can be sure that it is a solid cryptocurrency.

Note: So I used screenshots from Binance, but the exchanges all look similar with a few differences. In fact, you can easily follow this guide, even if you do not use Binance.

Here are the steps for this tutorial Binance.

Step 1: Buy bitcoin or ethereum

At the beginning, you cannot buy tokens from an ICO in USD or euros for example. This is why for a beginner, it can be confusing at first. Finally, it's still very easy once you understand the steps.

So the first step is to buy bitcoin or ethereum. You can buy them very easily on many simple purchasing platforms like Coinbase for example.

(note that if you use Binance, you can buy directly by credit card)

If this is your first time and you're looking to buy your first bitcoins, read the article that explains how buy bitcoin by credit card. It's actually the easiest way to start.

Proceed to step number 2, when you have bitcoins in your wallet.

Step 2: Choose your exchange platform.

Now, it's time to choose your exchange platform. It's actually a trading platform, even if you're not going to do pure trading. Know that Trading means exchange, literally. I told you that personally and many people used Binance. However, you can use other platforms as you wish.

When choosing, try to opt for a platform that you like and that you feel comfortable with. Even if at first, the exchange platforms may seem "rough" and complex, rest assured, you will get used to it very quickly.

You can consult the article on all the best exchange platforms for cryptocurrencies.

The third step of the Binance tutorial is the following.

Step 3: Send BTC or ETH to your platform

Yes, cryptocurrencies, especially the most recent ones, cannot be exchanged other than with bitcoins or ethereum. Some can even only be purchased with bitcoins. It is only when a cryptocurrency becomes large that it begins to be able to be exchanged for other cryptocurrencies.

This is why, at this step, you must send the bitcoins that you purchased in the first step to your exchange platform.

If you have chosen to use Binance, you can also purchase directly by credit card.

To do this, you need to make a "deposit". This is generally the same on all platforms.

When you click on "Deposit", you will be asked to which address of which cryptocurrency you want to make a deposit. You choose BTC (BITCOIN) therefore.

There, you will have your bitcoin address which will be displayed. There, you will need to go to the site where you purchased your first bitcoins (step 1) then transfer them to this displayed address.

You choose the amount you want, of course.

After a certain time (it depends on the state of the network, but it can take less than an hour), you will see the amount of bitcoin transferred appear on your address on Binance.

Step 4: Buy the cryptocurrency of your choice

Once your Binance wallet contains bitcoin, you are now ready to execute a transaction on the platform.

At the top of the page, switch to the “Market” tab and click on “Exchange”. On the right side of the market platform, you will see a box displaying four different base currencies. These are BTC, ETH, BNB, and USDT.

Click on the currency you created your Binance account in and search for your cryptocurrency you want to buy. As an example, let's say you would like to buy Cardano (ADA).

Click on the corresponding search result, which will be either ADA/BTC or ADA/ETH.

Now, head down to the bottom of the page and stop on the small “Buy/Sell” box, as in the image capture below:

buy and sell cryptocurrencies — On all exchange platforms, you will have approximately this same format

Now you need to buy some. Stay on the green box and then enter the amount of your choice. For example, enter the amount of bitcoin you have. Then, click on “Buy”.

So! You have purchased Cardano at the market price and you will see the amount in Cardano appear on your Binance address.

You see? Even though it may seem complicated at first, it is still very easy. You will also see that you will quickly get used to it.

Step 5: Transfer your cryptocurrency to a dedicated wallet

Now that you have your cryptocurrencies, the best thing would be to send them to a secure wallet . Yes, it is never very safe to keep your cryptocurrencies in an exchange platform.

You've bought your first tokens, and now you're wondering what to do with them? In fact, there's a lot you can do. Remember that it remains fundamentally an investment.

That is to say, you have just purchased an asset, which is supposed to increase in value over time.

Also, you can transfer them to a dedicated mobile application for stacking for example. Finally, you now have a bunch of options available to you

Conclusion on the Binance tutorial

This Binance tutorial ends here. I hope it was useful to you. If you know how to use Binance, know that you will know how to use all the others exchange platforms. You now know how buy crypto-currencies which are not found on simple shopping sites like Coinbase.

If you have any questions, I would be happy to answer you.

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To buy cryptocurrencies (simple way):