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| binance: app crypto currency |
binance: app crypto currency The binance mobile app is by far one of the
easiest and safest ways to buy Cryptocurrency
Through your phone. If you’re new to Crypto and want a simple way to purchase some
Bitcoin,
binance: app crypto currency
Ethereum or other Cryptocurrencies, then Binance is a really good option for you. I will show you
Step by step how to use the binance mobile app to buy cryptocurrencies in this
beginner-friendly
Tutorial I’ll guide you through the two main methods available and then you can
Choose the best one that suits you and as a bonus towards the end of this video I will show you
how
To earn some passive income using your binance account so make sure to stick with me to the
end
But for now let’s get started from your home page which should look something like this
We can first go to our settings by clicking here then scrolling down click on settings and you
Can choose your base currency for your account so if you’re from a country like australia
you
Can choose aud or canada cid or if you want to search for your currency you can do that as well
The next important thing I want to mention about is the security settings so you can see there
are
binance: app crypto currency binance exchange
Four methods to securing your account and I have two turned on right now but the more the better
Obviously to keep your account secure if you want something like a physical security key finance
Also has that but you have to apply through their website but make sure you have a minimum of two
Options turned on for your account to keep it safe now from
the main page I next want to Show you the wallets page this is a summary page showing
you a total of all the crypto currencies
And fiat money that you have on your binance account and any
of your other holdings like in
Binance earn or the pool will also be shown here and we’ll get onto that part later in the video
Next if we go over to the spot page here you can see the overview of the actual currencies that
are
On this account and is filtered from the highest dollar value first now from this page you can
also
Deposit withdraw or transfer your money from this account and this can also be done on the overview
Page for example if you want to make a deposit you just click on deposit here and we can either
Choose crypto or fear I will show you the two ways of depositing your fear later on in this vide
But right now I’ll show you the crypto method for example in this case if we
want to deposit vide
Bitcoin you just click on btc here or you can it in the
search box and then click on bitcoin now
This page with your wallet address here will show up and it’s very important to copy every
Single word when you want to use it so I always
suggest you click on this button to click on copy Don’t copy it any
other way or type it out one by one as
you can make a mistake and your coins will Be lost another thing you can do is
to scan this barcode which will bring up
this exact
binance exchange
Address where you can transfer your code to and you can also save this qr code image or share
This address with other people and the last thing to know and this is very important you need to
Make sure your wallet is using the right chain for example you’re supposed to be using the btc segwit
Wallet then you need to click here and it will
be a different wallet address so you just need
To make sure you’re using the right things for the right cryptocurrency and doing withdrawal is also
Very easy and similar here so you just go back click on withdrawal from your overview page select
The crypto that you want for this example bitcoin and now you just need to put in the address that
You want to withdraw to or you can scan the qr code if you have one now choose your network Click
confirm add in the amount that you want and
if you’re happy click on withdrawal and you have To do some verification
before the transaction will go through
now the next thing I want to
Show you is if you want to transfer from one wallet to
another wallet within your own account And that is to click on transfer then
you select the account that you want to
transfer from In this case spot and if you want to start staking in a pool for example then you can click here
And click on pull select the crypto that you want in this case bitcoin put in
the amount and Then click on transfer and now you can see here we scroll down and click on pull you can see my
Bitcoin value is in there and it doesn’t cost
anything to transfer between your own accounts Here’s a quick question
for you what percentage of your portfolio do you plan on holding in bitcoin And
why let me know in the comments section below
now let’s get on to the actual step of buying your
Cryptocurrency or in this case bitcoin there’s two methods of doing this the first method is
fast but Has higher fees and the second method is slower it’ll take a couple of days but you’re going to
Reduce your fees massively so for the first method you can go and click right on this button
from the Home page that says credit slash debit card it will take you to this page where you can choose
The cryptocurrency that you want to purchase so in this tutorial is bitcoin so I’m just going
To click on btc here now we want to select the currency that we want to sell so in this case
I’m going to choose us dollars but you can choose other
currencies like the australian dollar Or even euro next you have to enter in
the amount of us dollars that you want
to spend but if you
Don’t care about how many dollars you spend but instead you want to buy an exact amount of bitcoin
Then you can click on this button here and type in the amount of bitcoin you want and if you’re
Happy with that then click on continue a quick
reminder for you is that you won’t be able to
Access this page unless you have already done your personal verification step in order to Purchase any cryptocurrencies including bitcoin you’ll have to pass the verification process first There are three different verification levels and depending on which country you’re from they all
Have different spending limits and here’s a quick look for you to see how easy it is to go through
The verification method as I’ve done for the first and the second level here you only need to
put in
Your name and address for the first verification level and for the second level you either need
Your id card or passport and a picture of yourself and once you’ve done that you’ll be back onto
this Page where you can add your credit or debit card here click add new card put in your details now
It will take you to this page where you can see the amount of dollars you’re gonna spend
Case your fee is around two percent and if you’re happy with that you can click on confirm so if
You’re only buying a few hundred dollars worth of bitcoin then I think go ahead with this
option as It’s very easy and quick but as you can see here the fees are quite high it’s two percent here
But it can go up as high as 3.5 if you’re using a debit or credit card so if
you’re buying thousands Of dollars or hundreds of thousands of dollars worth of bitcoin then I recommend you choose the
Second option this method will take a bit longer for your funds to arrive into finance but it’s
Going to save you a lot on fees in fact the fees can be cut down to 0.075 percent this is around
Four to five times less than the first method do you like the level of detail that I’m
providing in My binance mobile tutorial so far if yes make sure to let me know by liking my video and don’t
forget To subscribe to my channel so you don’t miss out on quality content that I’ll be releasing every
Single week so for the second method we would click on deposit from the home page and now we Would go to fiat and select the currency you’re gonna deposit your money from now we can see it’s Gonna cost you zero dollars it’s free to transfer your fiat currency into binance click here
Now we enter in the amount we want to deposit and click on
confirm now this step is where you have To log into your actual bank account
and make it transfer to binance so you
need to copy all these Details and I recommend you click here to copy everything one by one so you don’t make a mistake
And then very important here is you must put
in your reference code now once your funds have
Arrived into binance you’re ready to go and swap it out for
bitcoin and this next step you’ll have
To click on trade and just go to convert which is the easiest way and now you simply choose The
currency that you deposited in if it was
australian dollars then you just put in aud but If it was usd then they
automatically converted into binance usd
so you would have to use busd
For that and now we want to convert it to bitcoin so we click on btc and click on confirm now you
Need to enter in the amount of busd you want to
sell and then click on preview conversions and
If you’re happy with it click on convert now that you have purchased all the cryptocurrencies that
You want it is a good and free idea to hold some crypto on binance and earn some interest
along the Way and to do this you’ll have to stake your coins so we’ll click on more go down to the finance
Section and click on staking so essentially
you can pick the coin that you’ve just bought And then you stake it on
binance and they’re going to give you an
interest rate for holding this
Crypto with them so if you’re investing in a coin for the long term then it is a good idea to earn
Interest by staking your coins but do know
that if you choose fixed staking like this You have to pick a certain
number of days that you want to stake
your currencies for and you won’t
Be able to access those coins until your staking period is over if you want a flexible way you
can
Also go to d5 staking and click on flexible lock but if you
want more information and a full guide On earning passive income through
staking your cryptocurrencies and getting the best rate then
Check out this video here where I run you through this step by step so if you’re ready to proceed
With finance and want to know the next step you should take then I recommend you watch this next
Video here however if you think binance is not the right exchange for you then
this is my number
One exchange alternative which I recommend you check out and I’ll see you in the next
tutorial
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