Binance facilitates buying, selling, and keeping track of digital currencies. This beginner’s tutorial covers registration, identification verification, depositing and withdrawing cryptocurrency, and using Binance Lite to buy and sell digital assets.
Table of Contents
Get started on Binance with following steps:
1. Account Registration:
Register in Binance ecosystem via Mobile App, Website, or Desktop through email or phone number.
2. Identity verification:
Post signup, it is mandatory to complete the Identity verification to unlock fiat deposit and withdrawal limits. Following steps are to be followed to complete the identity verification:
Click on profile tab and then identification as shown in the image below:
Another option is to click on the “Verify” button on the homepage banner.
Click on “Get Verified”.
You will be able to see following sections with their respective deposit and withdrawal limits:
Note: The limits vary for different countries. Change your country by clicking the button next to [Residential Country/Region].
Click on start now.
Select your country of residence. Note that it should be the same as your ID documents.
The list of verification documentation for your country will be displayed. Click “Continue”.
Enter your personal information as per your ID documentation.
Upload images of your ID documents. The images should be clear and as per the instruction outlined on the website:
After uploading the document photos, the system will ask for a selfie. Click [Upload File] to upload an existing photo from your computer.
Post selfie, the system will ask for facial recognition.
3. Deposit/Withdrawal of Crypto in Binance:
In order to deposit Cryptocurrency in Binance
Choose the cryptocurrency deposit address in binance.
Copy the deposit address and paste it on the address field on the platform you intend to withdraw funds and transfer it to Binance account.
In your binance account, select “Wallet” tab:
Under the wallet tab, click on overview as shown in the below image:
On the wallet overview page, click on “Deposit” and then “Crypto Deposit”:
Select Coin as shown in the below image:
Click on “Select Network”, it will display the list of available network chain on Binance:
Note: It is necessary to select the supported network as per the requirement.
After selecting deposit address, copy the deposit code as shown in the image below:
Open the platform/wallet from which you intend to withdraw the funds.
Copy the deposit address to the withdraw address column as shown in the image below:
Post confirmation, the cryptocurrency will be added to the Binance wallet.
The transaction information will be visible under the “transaction history” tab:
4. How to withdraw from Binance:
In order to deposit, copy the deposit address and memo from the platform you intend to deposit cryptocurrency from binance.
On binance platform, go to withdraw and Select coin:
Paste and validate whether the address is of correct network:
To make a withdrawal, go to “Withdraw” and then “Wallets”.
Note: Please ensure that the deposit’s address and memo are correctly filled.
Click on withdraw.
Enter the verification code sent to your registered mobile number and email.
5. Binance Lite
Binance lite mobile app gives the option to buy/sell crypto using fiat currencies. Binance lite has a user friendly interface:
In order to buy crypto using binance lite, the user has to be verified on the platform.
Navigate to Binance lite homepage, on the homepage list of cryptocurrencies is displayed.
Tap on the crypto you would like to purchase and enter the amount.
Select the payment method.
Note: Different countries will have different payment options.
In order to sell crypto on Binance Lite, click on “Sell”:
Select the cryptocurrency you would like to sell.
Enter the amount and select the receive method.
The payment can be received by fiat channel or P2P trading.
Binance lite also provides following option:
On Binance’s “Trade” page, you may choose from “Basic,” “Advanced,” “Margin,” “Futures,” and “Options.”
Begin with “Basic” trading. You may buy and sell cryptocurrencies using market or limit orders on this simple trading interface.
Choose your trading pair from the dropdown. Select BTC/ETH to exchange Bitcoin (BTC) for Ethereum (ETH).
Choose a market or limit order to purchase or sell.
Click “Buy” or “Sell” to purchase or sell the amount you entered. Confirm your order, and your wallet will get your new assets.