How to create an account on Binance

By Marushka

Exchange, Tutorials

Registration

Registration is simple, you must open the Binance website (https://binance.com) and click the “Register” button.

Fill in the registration form:

– Your email

– Password (minimum 8 characters and one capital letter)

– Repeat the entered password

– Referral ID (optional) – The ID of the person through whom you want to register

– confirm the Binance Terms Of Use

Then click on Register and verification email will be sent to your email adress. You need to click on “Verify Email” to complete registration.

By clicking on “Verify Email” you will be redirected to the Binance website. In this step, your account will be activated.

After successful sign-up, you can log in into your account. Click on the Binance website at the top right “Login” and enter your login information (email, password). When you log in for the first time, you’ll need to confirm all your risk notifications. Mark up all 5 notifications and click “I understand, continue”.

The next step is to activate two-step authentication, 2FA. We recommend using the Google Authentication application (SMS is not secure).

Step 1 – Download to your smartphone application Google Authentication (IOS or Android version).

In the application, click the “+” on the top right corner, then click “Scan barcode“at the bottom.

Step 2 – Scan the QR code with application on your smartphone.

Step 3 – After successful scan of QR code, you need to save “Backup Key” – it is for a possible 2FA recovery (eg. when you lose your smartphone – resetting Google Authentication requires opening a “support ticket” and processing will take at least 7 days).

Step 4 – Activate 2FA. Fill in the following information:

– Key – key (from step 3)

– Login Password

– 2FA Code – 2FA code from Google Authentication

The next time you log in, you’ll also need to enter a code from the Google Authentication app, which is generated random in time.

You can withdraw 2 Bitcoins per day without verification. To increase the daily limit to 100 Bitcoins, you must verify your account identity. Click “Submit Verification Documents“.

Fill in the following informations:

– Type – tick “International”

– First Name

– Last Name

– Gender – Male / Female

– Country and Territory

– Passport ID – Passport ID (or Driving License or Citizenship Card)

– Passport Cover – A scan or photo the front of the document

– Passport Personal Page – A scan or photo the back of the document

– Selfie With Photo ID And Note – A “selfie” photo together with a paper on which the word “Binance” and the current date will be written (or the photo of the document together with the paper)

Balances

Clicking on “Funds” and selecting “Balances” will show your leftover cryptocurrencies.

Deposits

Binance does not support deposit in fiat currency (euro, dollar, pound, etc.), so it is necessary to deposit funds through cryptocurrencies. You must click on “Funds” and then choose from the list “Deposits“.

In the following example, we’ll show you how to insert the cryptocurrency into your account. Choose from a list of cryptos, for example LTC (Litecoin).

Binance will generate the Litecoin address (and the QR code) to which you will send the cryptocurrency. On this address (34-digit code) send your Litecoins.

Withdrawals

Binance does not support withdrawals in fiat currency (euro, dollar, pound, etc.), so it is necessary to withdrawal funds via cryptocurrency.

In the following example, we’ll show you how to withdraw the cryptocurrency from your account. Choose from a list of cryptos, for example LTC (Litecoin).

If you select Litecoin cryptocurrency, the minimum withdraw is set on 0.02 LTC. You must enter the Litecoin address where you want to send your cryptocurrency (we recommend carefully check the address – the transaction is irreversible). The transaction fee is 0.01 LTC . After completing the forms, confirm the transaction by pressing the “Submit” button. A confirmation email will be sent to your email address where you confirm the transaction by clicking on link.

Fees

The fees on Binance are as follows:

– fee for deposit – free

– fee for withdrawal – table of cryptocurrencies with fees – https://www.binance.com/fees.html

– fee for trading – 0.1% trading fee (Table of cryptocurrencies with minimum trading values – https://support.binance.com/hc/en-us/articles/115000594711-Trading-Rule)

There is a possibility to temporarily reduce the fee to 0.05% using BNB cryptocurrency (https://support.binance.com/hc/en-us/articles/115000583311).

Trading

Binance offers 2 web page views for trading – basic and advanced. Trading is based on the purchase and sale of cryptocurrencies as the dominant market cryptocurrencies which are Bitcoin, Ethereum, Binance Coin (BNB) and Tether (USDT).

When trading you have the option to choose Limit, Market or Stop-Limit. For the Limit option, you must enter the price for the cryptocurrency you want to buy, and your order will be added to the list. For type Market, you only set the amount of cryptocurrency that you want to sell or buy, and the system automatically trades your request at the best possible price. Stop-Limit serves as a limit order, if the price reaches the specified stop value, order is executed.