Here is a complete guide about Binance and buying of bitcoin by using this platform
What is Binance?
Binance US, in partnership with BAM Trading Services, is now open for business in the US. Over 120 different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano, can be traded, converted, and staked on the platform (ADA). This exchange has some of the lowest trading fees available, making it a good choice for those who trade frequently or in large amounts.
Investing in cryptocurrency, Decentralized Finance (DeFi), or any other type of Initial Coin Offering (ICO) is a high-risk endeavor due to the unpredictability of the market. It’s wise to consult a professional before making any drastic changes to one’s financial situation. Neither Investopedia nor the author can guarantee the accuracy or timeliness of the information presented herein, and the reader should not treat it as such.
Key Feature:
Make-and-take fees on Binance.US are 0% to 1%, while instant buy fees are 0.50%. The fees on this platform are extremely low when compared to its rivals.
Learning Materials Currently Available:
The Binance.US Blog features video lessons and written guides on blockchain technology and cryptocurrency trading for investors of all skill levels.
Discounts on Trading Fees are as follows: Users who hold Build and Build (BNB) are eligible for a 25% reduction in trading fees.
Company Overview
Despite Binance.wide US’s variety of supported cryptocurrencies and the fact that it is accessible from everywhere except Hawaii, New York, Texas, and Vermont, it does not accept users from those states. However, the U.S. platform may be a good choice for some investors because of its trading features, low fees, and extensive educational materials. Unfortunately, the interface could be more user-friendly.
Cryptocurrencies Available on Binance.US
One can choose from more than 120 different cryptocurrencies in the US. Trading in Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Cardano (ADA), and other cryptocurrencies is possible, as is trading in lesser-known cryptocurrencies like VeChain (VET) and Orchid (ORCHID) (OXT).
Trading Experience
Users can access the dashboard via a web browser, and mobile apps are available for both iOS and Android.
After logging into your account, go to the “Buy Crypto” tab. You can check market performance and place trades by clicking on “Trade,” which will take you to the platform’s OTC and advanced trading portals. By integrating with TradeView, the cutting-edge platform consolidates the viewing of order history, real-time price tracking, and historical data. Direct negotiations between buyers and sellers are made possible by OTC trading. Please remember that OTC trades cannot be made for amounts less than $10,000.
Traders with more experience will fare better on this platform. There is a possibility that the sophisticated features of this trade will put newcomers off.
Fees
The low trading costs are a major selling point. Binance.US is the only major cryptocurrency exchange in the US to provide commission-free Bitcoin (BTC) spot trading in all four major trading pairs (BTC/USD, BTC/USDT, BTC/BUSD, and BTC/USDC) to all traders, regardless of account size.
Trading fees from rivals begin at 0.50%, while maker/taker fees sit at 0% to 0.01%. There is a 0.50 percent fee for instantaneous purchases. Users who hold BNC are also eligible for a discount of 0.25% on trading fees.
While the trading fees are low, the debit card deposit fee is quite high at 4.5%. Users are better off making deposits through free alternatives like ACH and wire transfers. Although wire transfers cost $15 within the United States and $35 internationally, ACH withdrawals are free.
Customer Service
The cryptocurrency exchange industry is notorious for its need for robust customer service options. Visitors to the Support page are always welcome to submit a form or initiate a live chat session whenever they encounter any issues. However, you can only reach people by phone or email if you have an emergency with your account.
Instead of a live chat feature, it has an extensive collection of frequently asked questions on its support page. These materials may be helpful for those seeking general explanations.
Account Management
features a handy app and web-based dashboard for keeping track of all your accounts. Mobile and desktop versions provide the same features. After logging in, you’ll be able to see your account’s current balance, purchase history, and the devices you’ve used to access your account. You can make deposits and withdrawals, as well as buy, sell, and trade cryptocurrencies.
Why choose Binance?
Binance is the most popular cryptocurrency trading platform, used by millions daily. They make buying digital currency simple, safe, and quick. The company has a 24-hour support team for customers.
Want to Get Some Bitcoins?
Please Proceed as Described Below:
If you are an experienced trader looking to open an account, you can do so by signing up for a Binance account or downloading the Binance crypto trading app. If you’ve never purchased Bitcoin from Binance before, this guide will show you the ropes.
Step 1: Create your Binance Account
You’ll need a valid email address or mobile phone number and a strong password to sign up. You can also create an account by downloading the Binance app from the App Store or Google Play.
Step 2: Start Buying Bitcoin
Binance is a cryptocurrency exchange where buyers and sellers can make transactions using a P2P marketplace, debit/credit cards, and bank transfers.
Bitcoins can be purchased with a debit/credit card or bank transfer.
One of the simplest ways to buy Bitcoin is to link a debit card, credit card, or bank account. (a feature supported in many regions). The lowest price at which you can buy Bitcoin using this method is around $15. (The precise amount is a function of the currency you use.)
Bitcoin can be bought locally through peer-to-peer exchange.
Binance P2P facilitates Bitcoin purchases between users in local currency. Hundreds of different payment methods are accepted in dozens of countries, and thousands of merchants can be found on the Binance P2P marketplace.Have a look at the Bitcoin classifieds to find the best Bitcoin deals being offered by other users.
Buy Bitcoin with a Method Other Than Credit Card
The local currency you’ve chosen to use for payments may be one of many available to you.
You Can Trade Your Local Currency For Bitcoins
In recent months, Binance has expanded its list of supported fiat currencies to include the euro (EUR), Australian dollar (AUD), Brazilian reais (BRL), British pound (GBP), and Turkish lira (TRY). (There are stipulations in the fine print that must be met.) Binance’s Spot, Margin, and Futures markets are where you can buy Bitcoin with funds deposited in your account.
Visit the Bitcoin Exchange and Over-the-Counter (OTC) Conversion Platform to purchase Bitcoin.
With the recently launched Convert and OTC Portal, customers can exchange their account funds (including certain local currencies) for Bitcoin at more favorable rates than those found on the open market.