Buying Crypto from Binance

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Buying Crypto from Binance

First, we will need to get our first exchange account, we will use Binance. Binance is one of the largest most established cryptocurrency exchange in the world.

Follow this link and create your account. This process will take less than two minutes for Basic Verification and does not require any documentation. Once you are done, you can choose to directly buy cryptocurrencies with a credit or debit card or deposit your local currency via bank transfer.

Keep in mind that the more information you will provide Binance about you, the more it will allow you more significant daily credit limits. These limits are essential, as they dictate how much you can transfer to and from Binance.

Basic verification will allow you $300 total lifetime limit. It will require your give Binance your full name, date of birth and address.

Advanced verification will allow you $5,000 daily credit/debit card limit. It will require you to upload a copy of your passport or other government-issued documentation and provide live face verification via the camera on your smartphone.

Finally, an address Verification will allow you $10,000 daily credit/debit card limit and $50,000 daily bank deposit limit. At this level, you will be required to upload an official document such as a bank statement or utility bill which clearly states your name and address. Such records will need to date within the last three months, depending on when you are doing the verification.

Once you have done your account, one simply needs to press But Crypro, and then select your preferred method of payment. In the case below I'm opting to use my Credit/Debit Card. 

Buying bitcoin from Binance step1

You will be taken to a page where you need to select which coin you would like to buy (Bitcoin by default), and you'll be able to enter your card details and purchase accordingly. 

Buying bitcoin from Binance step2

That is it! Simple no? We suggest you secure your Binance account using 2FA - we shall cover this important security mechanism in a separate article.   

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