How to buy Bitcoin & other cryptocurrencies

Now that you learned the basis of Blockchain, Bitcoin & Cryptocurrencies, you must learn how to make your first purchase and buy Bitcoin or any other altcoins.

In this article, we will show you How To Buy Bitcoin on Binance.

You can also visit this more detailed guide to Buying Bitcoin in 2020, which offers different other ways which might better fit your needs.

Buy bitcoin

Buy and Trade with Binance

Are you here to understand how Bitcoin works and make your first transaction? The Binance site will most likely meet your expectations. It is the number 1 crypto exchange in the world. It is possible to buy Bitcoin but also more than 400 crypto-currencies. You can buy Bitcoin directly by credit card or bank transfer.

👌 We liked: Excellent reputation, exists since 2017, secure, number 1 in the world, 400+ cryptos available, reactive support, payment by credit card, intuitive and fast site.

File:Binance logo.svg - Wikimedia Commons

Steps to start buying Bitcoin with Binance

  • Register on Binance with the link above.
  • Fill in your e-mail address
  • Check your e-mail and phone number
  • Validate the KYC (identity verification)
  • Make a deposit by wire transfer or buy directly by credit card
  • All you have to do is buy Bitcoin or one of the 400 other cryptos available on the platform.

Registration on Binance

Let’s start by creating an account at Binance by clicking on the button below :

File:Binance logo.svg - Wikimedia Commons

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Registration is free, and verification of your account (and therefore of your identity documents) is only necessary if you wish to withdraw the equivalent of more than 2 BTC/day. When you are on the site, you have to fill in the form:

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Once this step has been validated, a window opens and asks you for a verification code. Consult the e-mail you have just received and fill in the code obtained on Binance. If everything is correct, your registration is now complete. 😉

Buying Bitcoin on Binance

While many platforms do not offer this option, Binance allows you to purchase Bitcoin and other Cryptocurrencies directly with a credit card or wire transfer.

There are therefore two main methods of purchase available to you, payment by SEPA transfer or credit card. Each option has its advantages and disadvantages:

  • By going through a SEPA transfer, the process will take a few days, but no additional fees will apply to your purchase.
  • By using a credit card, you will receive your Cryptocurrencies instantly, but the fees can be quite high.

Just follow the method that’s right for you.

💡 Please note that other Cryptocurrencies are also eligible for purchase on Binance, including BNB, BUSD, Ether (ETH), Litecoin (LTC), USDT and many others.

Buy Bitcoin by wire transfer to Binance

To purchase Bitcoin on Binance by SEPA transfer, click on the Buy Cryptos button in the top left corner and then on Bank Deposit :

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On the new page that appears, you just have to enter the currency used by your transfer and its amount. You can then send between 50 and 5000 dollars to Binance. The fee is set at 10 dollars (the fee is lesser with Euros), regardless of the amount of your transfer.

To send larger amounts, you will need to verify your identity beforehand:

In the rest of the process, Binance presents you with the banking information of its partner to send your transfer:

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Fill in the information on your screen and then proceed with the transfer with the amount selected previously. The image above is for illustration purposes only, it is possible that Binance’s banking information may change. Therefore, please refer to what is displayed on your screen.

Note the presence of a unique reference number (do not copy ours). This is essential and allows Binance to know that the funds it receives are linked to your account. This code must be filled in during your transfer, usually in the “Message” or “Reference of your transfer” form.

⚠️ Attention. If you forget to fill in this reference number when making your transfer, your funds will not be credited to Binance.

Once your transfer has been made, you can follow its progress by clicking on the View History button. Now that your Euros are credited, you can buy Bitcoin at Binance.

To do so, click on the Buy Crypto button again, and then click on Cash balance:

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On this page, you just have to fill in the amount of your purchase as well as the desired Cryptocurrency.

By clicking on the Buy BTC button, you will be instantly credited with your new assets in your Binance wallet.

Binance, how to buy Bitcoin by credit card?

To purchase Bitcoin on Binance by credit card, click on the Buy Cryptos button in the top left corner and then click on Credit/Debit Card:

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On the new page that appears, you just have to enter the currency used by your transfer and its amount. By credit card, you can buy between 15 and 5000 dollars or any other currency:

As per the wire transfer, once your fiat is credited, you can buy Bitcoin at Binance.

To do so, click on the Buy Crypto button again, and then click on Cash balance:

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On this page, you just have to fill in the amount of your purchase as well as the desired Cryptocurrency.

By clicking on the Buy BTC button, you will be instantly credited with your new assets in your Binance wallet.

Compared to wire transfer, when purchasing with a credit card, a fee of 3.5% per transaction or $10 will apply (whichever is higher).

On the Binance interface, click on the Buy BTC button and fill in your card information. As soon as the payment is validated, your newly acquired valuable BTCs will be available in your Binance wallet.

There you go! You are now the proud owner of BTC! 🤑

If you would like to learn more about how Binance works and how to make your first trades, check out our complete platform tutorial.