How to Create an Account on Binance Exchange
If you are looking out to do anything with Bitcoin or Altcoin, Binance is the exchange that you need to be on. While there are other great exchanges like KuCoin, Luno, Coinbase or Crypto.com, Binance exchange is in my opinion the best and most beginner’s friendly exchange with the largest selections of altcoins/coin.
I’ll walk you step-by-step through how you can create an account, deposit crypto and fiat money on Binance exchange.
Now, if you don’t have Binance account you can create one now. www.binance.com/create
What is Binance Exchange?
Binance exchange is a china-based cryptocurrency exchange that was launched in July 2017 by Changpeng Zhao. The exchange has rapidly gain popularity.
It is now the largest exchange in the world in terms of trade volume on Coinmarketcap.
The exchange has several advantages,
- Low transaction ratio which makes it very competitive within the market.
- By just owning Binance coin ( BNB ) you get 50% per discount trading fee using BNB.
- Binance team is very present, active and the customer support answer very fast comply to other exchanges of the same size.
- Binance support hundred of different cryptocurrencies and fiat currencies. It is a very secure platform.
Now it’s time to register:
How to create Binance Account
Step 1. Go to the Binance website: www.binance.com
Step 2. Click on “Register now” located in the middle of the homepage or at the top right hand corner, click on “Register“.
Step 3. Enter your “Email” and “password” and tick off “I have read and agree to the Terms of Service. Binance’s Terms“.
PS: Use a secure password and one you can remember. Don’t share or give out your password to anyone.
Once the step is complete,
Step 4. Click on ” Create Account ” A verification email will be sent to your register email.
Step 5. Go to your mailbox to validate your email.
Step 6. Open your email and click on “Check email address“. You will be directed back to the Binance website once you’ve completed the verification.
Congratulations your Binance account is officially created.
How to use Binance Exchange to Deposit Cryptocurrency
Binance facilitate the deposit and withdrawal of fund in cryptos and fiat currency.
In order to begin trading cryptocurrencies on Binance exchange, you will need to deposit funds into your Binance account.
Binance supports trading of over 150 different cryptocurrencies. You can deposit any one of these onto the exchange.
To deposit crypto on Binance:
Step 1. Log in to your Binance account.
PS: Don’t forget to check out the address before you log in. It will help you avoid scam. Follow this link: www.binance.com
Step 2. Go to the “wallets” page located on the top right side of your Binance homepage.
Step 3. Select “Fiat and Spot“, choose the crypto that you wish to deposit and then click “Deposit“.
Step 4. Copy the address or scan the QR code, and complete the deposit.
Note: Sending coin or token other than TWT to this address may result in the loss of your deposit.
We choose TWT as an example. You can “copy TWT Deposit Address” and paste it to the corresponding address section where you are making the withdrawal from. In this example, we will be depositing TWT from Trust Wallet.
Now that you have your deposit details, you can open the wallet you wish to send the deposit from. We will be using Trust wallet.
If you don’t have Trust Wallet, you can download it from the Trust website.
Once your wallet is open,
Step 5. Select the coin/altcoin you wish to send. In this case, it is TWT.
Step 6. Now click on “Send“.
You will need to enter your Binance deposit address. The easiest way is to scan the QR code available on Binance. You can see your QR code by clicking “show QR code” on the website.
Step 7. Once you have entered your details you can send the transaction and your Binance account will be credited shortly after.
How to use Binance to Deposit Fiat Currency through web
In order to deposit fiat money into your Binance account:
Step 1. First log in to your Binance account
Step 2. Go to the “wallet” page on the top right side on your Binance homepage
Step 3. Click “Fiat and Spot“
Step 4. Click on “Deposit” at the top or simple scroll down to the preferred currency that you wish to deposit. In this case we choose NGN currency and click “Deposit“
Toggle to Fiat
Step 5. Select the preferred currency. In this example we choose USD
Step 6. Choose your preferred payment method, Binance will recommend one for you.
Enter the amount you wish to fund your account with.
Step 8. Click “continue” to proceed to the payment menu.
- Binance only accept funding from a bank account under your own name
- Include the Reference Code in your deposit in order to credit your account! e.g. Reference Code: BNQWJ72KB
- Ensure you have deposited the correct amount
- Make sure you complete the bank transfer in 20 minutes, otherwise, the account number would be invalid.
- Make sure you have sufficient balance in your account before proceeding with the payment.
Step 9. Copy the payment information and proceed to your banking app to complete the bank transfer.
Step 10. Then click on ” I have made this bank transfer“. Once the payment is completed, it will redirect you to the Binance page.
Congratulation you’ve successfully made your first fiat deposit through the binance web.
You can track the transaction in “Transaction History“.
How to use Binance Exchange App to Deposit Fiat Currency
Binance lets you trade cryptocurrency and fiat currency on your smartphone, giving you an easier interface to work with as opposed to using your phone’s browser to buy and sell coin/altcoins.
Installing Binance App is incredibly easy if you have an Android and IOS device.
To get started, you’ll need to download the app directly from Binance itself, which can be done through this link: www.binance.com
Step 1. To deposit fiat on Binance, first you should log in to your Binance App. You can log in through Email or Mobile Number
Step 2. Click on “Deposit“
Step 3. Switch to fiat and choose the preferred currency you wish to deposit. In this case USD
Step 4. Next, choose a payment method and enter the amount you wish to deposit and click “continue“
Step 5. Copy the account details and make the payment. After you have make the payment then
Step 6. Click on “I have made this Bank Transfer“
Wait for the count down to payment confirmation. Once the payment is completed, your balance will reflect the amount deposited.
Congratulations you made your first deposit.