You may have read about all of these new cryptocurrencies like Ripple, EOS, Stellar, Cardano, or VeChain.
There are literally thousands of cryptocurrencies and one of the most popular ways to buy coins is using Binance.
Here is our guide on how to buy cryptocurrency on binance.
Create a Binance Account
First you’ll want to create a free account on Binance.
After signing up with an email and password you’ll need to verify your email then you’ll be ready to fund your account.
Fund with your Account with Bitcoin or Ethereum
If you’re new to Cryptocurrency the easiest way to get Bitcoin or Ethereum is using Coinbase. (Guide to buying Ethereum)
But if you’re reading this guide you most likely already have Bitcoin to trade. So you’ll need to deposit Bitcoin or Ethereum into your Binance account so you can trade.
For this example we will be using Bitcoin but the process is the same for most other coins.
Just head to the header navigation and click Funds > Deposits.
Here you can deposit many different coins but if you’re Bitcoin using type Bitcoin. Make sure you select the correct coin, not Bitcoin Gold, Not Bitcoin Cash, if you select the wrong coin your deposit will be lost.
After selecting the coin you’ll get a deposit address. Make sure to copy this correctly, you can click copy to ensure it’s fully copied.
With your deposit address head over to Coinbase and head to your Bitcoin wallet where you’ll click send.
On the send screen just paste the previously copied deposit address into the recipient field and the amount you’d like to send.
After sending your Bitcoin to the deposit address you can see the progress on the deposit page of Binance. It typically will take a few minutes to confirm in your Binance account.
After the Bitcoin is added to your account you can see it in Funds > Balances and it’ll be ready to trade.
Buy Cryptocurrency on Binance
Once your Bitcoin or Ethereum is in your account you’ll be able to trade on the Binance exchange. In the header you can click exchange and select “basic” to start.
You can primarily trade with BTC or ETH so make sure to select the one you are trading from (in this example we are using BTC). On the top right you can search for the coin you’d like to trade (in this example we will be buying BAT for BTC).
If you want to find coins to trade you can research them on CoinMarketCap.
After selecting a coin the current trading price will be automatically filled. Here you can select how many of the coin you’d like to buy.
On the bottom of the page you’ll see your open orders. Here you can cancel open orders or see progress of an order. If you place the order when the page loads it should fill relatively quickly. If the order doesn’t fill you can increase the price you’re offering to pay for the coins.
If you’d like to immediately buy the coin you can select market order which will use the current market price to buy the coin right away. While limit orders you can set the price you’d like to pay but it could take time to fill.
