So, you want to know how to buy crypto on Binance. You’ve heard of Sam Bankman-Fried, at one point the youngest crypto billionaire at the age of 30 years. You’ve heard his story, and now you’re thinking to yourself if I can just legally make a fraction of what he made in crypto, I can finally take that trip to Bora Bora and sip martinis on the beach while profits roll in from my budding crypto empire. Or, maybe you’ve heard of crypto from a friend and you too want to get started on your investing journey.
Regardless of your situation, you want to know how to make your first crypto purchase. Binance is one of the largest and most trusted crypto exchanges in the world so if you’re going to be buying crypto why not there right?
But how do you go about purchasing crypto on Binance? No worries! I got you covered. Binance offers many options whether you’re a beginner or an advanced trader. You can easily buy most cryptocurrencies including Bitcoin (BTC) with the lowest fees and highest security anywhere Binance is available.
This post will teach you how to do just that.
There are a number of ways to buy cryptocurrencies from the Binance homepage, including:
- Credit/Debit Cards
- Cash Balance
- P2P
Before you begin, be certain that you have completed the identity verification process. You may access Identity Verification from this page. On that page, you may also view your current verification level, which sets your Binance account’s trading limit.
Please complete the appropriate Identity Verification level to raise your limit. This is a Binance requirement that will guarantee your shopping experience runs as smoothly as possible.
How to buy crypto on Binance with a Credit/Debit Card
1. Log in to your Binance account and click [Buy Now] on the homepage banner.
2. To purchase cryptocurrency, you may use a variety of fiat currencies. Select your preferred currency, then input the amount of fiat you wish to spend, and the system will calculate the amount of cryptocurrency you can acquire. Click continue.
3. Next, you can choose the method by which you want to pay. As I mentioned previously, you have the option to buy with a credit/debit card, Cash Balance or P2P. If you want to learn more about the way Peer to Peer (P2P) trading works and how you can purchase crypto using this method, you can check out our post here on the topic.
In some countries, users are allowed to buy crypto with a fiat or cash balance. You can do this by making a deposit in your local currency directly to your Binance account and then using that to purchase crypto.
However, in this tutorial, I’ll show you what to do, if you’re using a credit/debit card since this is the most popular way. First, select [Visa/Mastercard] – [Continue].
- Next, follow the instructions and enter your card information.
5. Your card will be added. Click [Continue].
6. The next step is to check the payment details and fees. The total amount is the price of your selected currency plus a handling fee from Binance. Cryptocurrencies are volatile, which means their value is constantly changing so you need to confirm your order within 1 minute, or the amount of crypto you can get will be recalculated based on the current market price. If it times out you can click [Refresh] to see the new order amount.
7. You will be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment. After that, you can instantly see the purchased crypto in your Binance Spot Wallet.