Cryptocurrencies

How to buy Bitcoin on Binance? – Cryptocurrencies

Find out here how to buy Bitcoin on Binance

Binance presents itself as the world leader in cryptocurrency exchange. As such, this platform inspires confidence, even if the golden rule in the world of virtual currencies is to systematically learn about the services offered before starting to trade. It is therefore possible to buy Bitcoin (BTC) on Binance using Fiat currencies. Indeed, on Binance, buying bitcoin is available using a bank card (for a minimum amount of € 15). Want to know more ? Follow the guide !

A word on the Binance platform

Binance is a virtual currency exchange platform that allows you to exchange hundreds of cryptocurrencies. In terms of volume, it is considered to be the # 1 global platforms.

Binance exchange platform home page

In 2019, Binance reports a trading volume of $ 2.8 billion a day on average. This platform, launched on July 14, 2017 in Hong Kong has the advantage of operating with 24/7 technical assistance. His CEO Zhao Changpeng, become a billionaire, has also made the cover of the prestigious magazine Forbes in February 2018.

The Binance ecosystem

Binance, whose name results from the contraction of the English terms “Binary” and “Finance”, allows you to store, buy, resell and exchange cryptocurrencies. The platform deploys an entire ecosystem with various services to support cryptoactive users:

  • Binance Chain (blockchain software system);
  • Binance Academy (open access learning center);
  • Binance Charity (charitable foundation);
  • Binance Info (crypto encyclopedia);
  • Binance Labs (incubator for project leaders working on the blockchain);
  • Binance LauchPad (token launch platform);
  • Binance Research (information and analysis);
  • Trust Wallet (official wallet to store cryptocurrencies);
  • Binance Exchange.
The Binance ecosystem is accessible on the site banner

Binance Jersey launched

Binance launched the January 15, 2019 Binance Jersey, a platform for users to exchange Bitcoins (as well as Ethers) for euros or pounds. However, people registering must go through a KYC mechanism (Know Your Customer) client authentication.

Buy your cryptocurrencies directly on Binance Jersey

Once registered, they can trade four new cryptofiat pairs (currencies issued by a central bank), Binance taking commissions on each transaction up to 0.1%. Deposits are free. In this logic, the stablecoin (stable cryptocurrency) Binance GPB, referenced on the pound sterling, is also launched.

How to register on Binance to buy Bitcoin?

The first step before to buy Bitcoin on Binance is to register. The user must first select the language in which he wants to access the site, then enter a valid email address and finally choose a password.

Binance account creation

Little advice : be sure to define a complex password to limit the risks of piracy, cryptocurrency platforms being particularly targeted by hackers.

For your safety, the platform offers you to proceed with the 2FA, also called “Two-step verification”, which consists of logging in using your password and your phone, using in particular Google Authenticator. As much as the platform, we recommend that you delay the purchase of your Bitcoins by opting for this additional layer of security.

Account security on Binance

The second step concerns the verification of your identity. Indeed, Binance is subject to KYC regulations as part of the fight against money laundering and the financing of terrorism. The platform will ask you whether or not you live in China, before going on to other personal information (name, first name, sex, country of residence).

Feel free to verify your identity for more features

Authentication by sending the number and a two-sided photocopy of your identity document as well as a photo of yourself. In this photo, you must show this same piece of ID and a diary (or other document) showing today’s date.

How to buy Bitcoin?

The easiest way to get Bitcoin from Binance is to buy by bank card. To do this, direct your cursor to “Buy cryptos” then click on “Credit / debit card”. Select your currency as well as the cryptocurrency you wish to buy and enter the amount before clicking on “Buy BTC”. You will only need to fill in your bank details and the purchase will be made.

Purchase of Bitcoin by CB on Binance

Binance also allows deposits in Fiat currency. To do this, you will first need to place your cursor on “Buy cryptos” then head to “Deposit EUR”. You will be redirected to the deposits page, which is also accessible by going to ” Wallet “, “Spot Portfolio” and by clicking on the tab on the left “Deposit”. You can then choose your payment method. Note that for the bank card, you will have to pay 3% deposit fee, while for the bank transfer you will not get one. We therefore advise, if you are not in a hurry, to opt for bank transfer. You can then enter the amount and click on “Continue”.

Making a deposit will leave your money in your account

Once the deposit is made, you can then buy your Bitcoins going on “Buy cryptos”, going to “Cash balance” and choosing the BTC / EUR pair.

You can see the money you have left in the box

Advice : Once your Bitcoins are purchased, don’t leave them lying around on the platform! Click here to see the list of the best Bitcoin wallets on the market.

Although it is mainly focused on the exchange of cryptocurrencies, Binance is now asserting itself as a very competitive platform as regards the purchase of cryptocurrencies by bank card. It is also reassuring by its notoriety, his activity and its ecosystem.

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