Binance is one of the most popular and convenient crypto exchanges on the market, and if you are reading this article, you are probably thinking about registering on the platform or have already created an account.
In this article, we will look at where a newbie should start their journey on Binance. After you have gone through the tedious verification procedure, there are many things you can pay attention to. It won’t be easy, but it won’t be boring either!
Training at Binance Academy
Binance Academy is a separate section on the exchange with educational guides for beginners. Binance Academy can be called one of the most accessible and complete educational platforms with information about cryptocurrencies, the crypto market, and related activities. The Academy has 3 main sections:
Articles - currently, users have access to almost 400 articles on various topics. You can quickly select a topic using the "cloud" and even set a difficulty scale depending on your level of knowledge:
The glossary is essentially a crypto enthusiast's dictionary. The concepts are presented in alphabetical order. There is also a quick search in the glossary, so if you hear a word you don't understand, just go there:
Learn&earn is a special project from Binance to popularize cryptocurrencies. In short, you need to study a certain article (or watch a video), and then take a short test to check how well you have learned the topic.
For each successfully passed test you will be paid a reward, so you can even collect a small start-up capital.
Important: The Learn and Earn program does not work in all countries, so available lessons can only be viewed after registration and KYC verification.
Overall, the interface is intuitive and you can easily find the topic or concept you are interested in. The quick menu presents all the key topics for beginners, so all you have to do is just choose and start diving into the fascinating world of cryptocurrencies:
I deposit fiat on Binance
After the tutorial, we need to create our first cryptocurrency deposit. If you do not have any cryptocurrency purchased in advance, you will need to use fiat currency to make a deposit. The main ways to deposit fiat on Binance are:
P2P is direct trading between exchange users. To make a deposit via P2P, you need to transfer fiat money to another user, to the specified payment method, and he will transfer the required cryptocurrency to your exchange wallet.
P2P allows you to bypass some regulatory restrictions and choose the most favorable rate for conversion.
Purchasing with a debit card is a direct purchase of cryptocurrency on the Binance exchange.
To purchase cryptocurrency with a bank card, you need to:
On the main page, find the inscription “Buy cryptocurrency”, then click on “Credit/debit card”:
Fill out the purchase form (specify currencies and amount) and click Continue:
In the next window, select Add card and enter your bank card details:
Then click on Continue. You may need to confirm the withdrawal via Internet banking. If Binance does not support your bank card or settlement currency, you will receive a corresponding notification.
An alternative way is to first deposit fiat currency (to do this, select Top up with a card instead of Buy cryptocurrency), and then exchange fiat from your exchange account for cryptocurrency on the platform itself. This is more difficult, but in some cases the exchange rate within the platform may be more favorable than with a direct purchase.
Binance may not support payment cards from certain banks or countries. For example, users from the Russian Federation cannot currently buy cryptocurrency directly with a bank card; they need to pay for the purchase through EPS or use P2P.