8 Easy steps to make your first crypto investment
August 8, 2022
Let’s show you how to easily buy your first cryptocurrency on a centralized exchange like Binance.
Thinking of carrying out your first trade but not sure where to start from? In eight simple steps, we will show you how you can make your first cryptocurrency investment through a regulated centralized exchange in under 10 minutes.
Here is a quick overview of how to invest in crypto with Binance.
- Step 1-Download the Binance App: Go to the Google Play Store or App Store and download the Binance app.
- Step 2-Click on “Sign up with phone or email” to create an account, or you can sign up with Google. If you have an account already, you can click on Login and go to Step 4.
- Step 3-Enter your email on the registration page and set your login password. Read the Binance P2P terms and click on the arrow to register.
- Step 4-Enter your email and password, then click on the arrow to Log In.
- Step 5-After logging into the Binance app, click the user icon in the top left to complete identity verification. Then click “Payment methods” to finish SMS authentication and configure your payment methods.
- Step 6-Click “P2P Trading” on the homepage. On the P2P page, choose the “Buy” tab, the cryptocurrency you wish to purchase (2) (for example, USDT), then choose an ad and click “Buy.”
- Step 7 – After entering the desired purchase amount and verifying the seller’s accepted payment method(s), click “Buy USDT.”
- Step 8: Click “Transfer the fund” to send the money directly to the seller using the payment details they have supplied within the payment window. Click “Transferred, next” after selecting the payment method you transferred to.
*Note: Choosing a payment option on Binance does not mean that the funds will be transferred straight to the seller’s account when you click “Transferred, next.” You must complete the payment directly to the seller via bank transfer or another third-party payment channel using the payment information provided by the vendor.
*If you haven’t made any transactions, please don’t select “Transferred, next.” This would be a violation of the platforms’ P2P User Transaction Policy and may lead to some penalties.
- The status will be changed to “Releasing.”
- The transaction is complete after the seller releases the cryptocurrency. To transfer digital assets to your Spot Wallet, click “Transfer to Spot Wallet.”
- To check the crypto you purchased in your fiat wallet, click “Wallet” at the bottom and then “Fiat.” You can also send the cryptocurrency to your spot wallet by clicking “Transfer.”
- *Note : If you have not received your cryptocurrency within 15 minutes of pressing “Transferred, next,” contact the seller by clicking the “Phone” or “Chat” option at the top.
- Alternatively, you can click “Appeal,” choose a “Reason for Appeal,” and then “Upload Proof.” The Binance customer service representatives will assist you in processing your appeal.
- Binance P2P presently allows the purchase and sale of BTC, ETH, BNB, USDT, EOS, and BUSD but if you want to trade other cryptocurrencies, you can do so on the spot market.
- If you have any questions or complaints, please contact Binance customer support team.