Buy Bitcoin in Binance; this exchange provides a variety of options for buying Bitcoin, buying crypto, or buying and selling crypto, from spot trading and margin trading to futures trading.
The exchange also has Binance P2P services. Binance also has its coin, Binance coin BNB.
This exchange also has the best settings for trading that users can choose from; there are basic or advanced stages.
Of course, before starting to advance, it is recommended to use the fundamentals first to get to know this exchange.
In this article, we will provide information on how to buy Bitcoin on Binance using spot trading, which is included at the primary level and is suitable for beginners. Here are the steps to buy crypto on Binance, with an example using Bitcoin.
Log In
Before buying crypto, make sure you are registered with Binance and log into your Binance account.
Trading on this exchange does not require verification as long as you don’t want to make a withdrawal above 2 BTC.
If you plan to WD above that number, you must verify on Binance.
Deposit
To be able to trade, the next step is a deposit.
On Binance, you can deposit using crypto sent from local exchanges or use fiat currency with the bank transfer payment method. On Binance, you can also use a debit credit card to deposit.
Start Buying Bitcoin on Binance
Open the Binance, then select Trades. Then it will appear as in the second image. Here you will be faced with Trading Pairs and the type of trade you want to make.
This method also applies if you’re going to buy dogecoin or bitcoin cash on Binance or other assets; just change the choice of crypto you want to buy.
Choose a Trading Pair and Type of Trading
First, choose the trading pair you want to do; Binance provides more than 100 cryptos. You can also buy bnb here.
You can select the appropriate trading pair or search for it in the search field if you have chosen the type of trading you want.
In the spot market, Binance trading provided is as follows.
- Limit orders allow users to set the maximum price they are willing to pay for the coin or the minimum price they are ready to sell. The trader then has to wait until the pre-determined price is reached.
- Market orders allow users to buy and sell according to the current price. This trade is the fastest and most straightforward.
- Stop-limit orders allow users to trade once a coin reaches a specific price. The stop-limit order will be executed at the specified price. Once the stop price is reached, the stop-limit order will become a limit order to buy or sell at the limit price or better. Pro traders commonly use this type of trading.
Time to Trade
Choose the appropriate type of crypto asset trading, for example, a market order.
Choose the amount of crypto you want to trade; if the price is going up, choose sell, and if the price is going down, it’s a good idea to decide to buy.
Then click buy or sell, and the trading process using the market order is complete.
That’s how to trade or buy Bitcoin or other crypto assets on Binance for beginners. There are various trading options on this exchange, so choose the one you have the most control over.
In trading, make sure to do analysis and risk management well.
Never risk more than you can bear.
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