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Make Your First Crypto Purchase on Binance

Make Your First Crypto Purchase on Binance

In order to make your first crypto purchase, you need to create an account for an exchange. In this tutorial, we will use Binance. You can either use the mobile version of the app, or you can access the website from your computer.
First, you need to go to https://www.binance.com/en. Then, from the top right side, you will press the REGISTER button. You will first select your area of residence (it is important to set it right, as this determines where you will pay taxes, and, later in the application, you will need to provide proof of residence), and then you create an account.

You will use your email and register an account, then perform both email and phone number verification.   To unlock the fiat deposit and increase your withdrawal limits, you will need to perform Identity Verification. This is because centralized exchanges are required to perform KYC (Know Your Customer) process, to protect against illegal activities such as money laundering. You will add your personal information such as full name, date of birth, etc. Then you will need to upload a picture of a government-issued document (Government-Issued ID Card, Driver's License, or Passport). After you upload this, you will be prompted to complete face verification by uploading a selfie.

After this, you are ready to fund your account with fiat. Depending on your country, you can deposit up to 50+ fiat currencies, such as EUR, BRL, and USD to your Binance account using either bank transfer (this takes longer, up to a couple of days), or your credit/debit card (funds your account right away).

Once you have fiat in your account, you are ready to buy your first cryptocurrency!