Creating a Binance free account is easy, if you have the right information on how to make Binance account safely.
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A few of my friends were complaining about the time it takes when setting up Binance account. I disagree. Yes, it takes a fe,w days or sometimes more, but they need to know who you are and if you are a real person and not a criminal organization. So, in my opinion sending documentation of who I am is not such a big problem. Let’s be honest, trading and investing in cryptocurrencies already has its risks. It would be foolish to add more risks by joining a unprofessional exchange.
What is Binance?
Binance Exchange is the largest cryptocurrency exchange by trade volume and one of the fastest growing in the world. For many it is seen as the best place to buy crypto currency and to hold your money.
The Binance Chain is driven by the exchange community as well as Binance’s block-chain software system. This is supported by global developers and contributors all over the world.
Is Binance a decentralized exchange?
Yes, Binance is a decentralized exchange. This means that Binance allows direct peer to peer cryptocurrency transactions. This is done online and securely and without a third party intermediary.
If you have heard enough and you want to get started straight away click on the “Open an account” on the button below.
Is the Binance free account really FREE?
Simple answer is YES!
I create an account and until I started purchasing some coins I didn’t need to pay a penny. This allows those who are still unsure about using a exchange like Binance the opportunity to nose about before committing themselves.
How to create a digital currency exchange account with Binance
This is the basic instruction on how to make a Binance account, however, through the process you will be asked to do various verification tests. The verification tests involves moving a jigsaw puzzle piece into the right position.
- Click here – This link will take you to the Binance website where you will be asked to add some basic details. (Referral ID: 407992731)
- Add your details to the Binance account sign up form.
- This part may vary depending where you reside. However, generally you will need to confirm your email address and start the security procedure, which includes:
- Your country’s ID such as passport, resident card or driving licence.
- Your image, I would suggest using the Binance App however you can also use the webcam on your laptop or computer.
- Proof of your address, this needs to be something like a tax card, electric bill, so no notes from your mother. (Some of the Nordic countries such as Norway, Sweden and Finland struggle a bit because they are almost a paperless society)
- Now wait for a few days to find out if you are accepted or not. (If you are not, it is normally the proof of address that is the issue, simply find a better document and reapply)
- Once you have been accepted. Add your payment card and either add money to your Binance wallet or purchase some coins from the Binance cryptocurrency exchange.
- Once you have done your first purchase you will receive an email with all the details of your transaction.
Should I used the Binance App to purchase cryptocurrency?
In my opinion, the Binance mobile App is one of the best cryptocurrency exchange app around. In fact, I have purchased almost all my coins on my phone. It is so simple. The Binance App is a great way to do investment while on the move.
Does Binance have the cheapest crypto exchange fees in the world?
Yes, their fees are very low, as little as 0.015% to 0.10% considering Coinbase charges 0.50% per trade
Is Binance best altcoin exchange around?
With the low trading fees, the highly secure authentication verification, insurance policy and a massive amount of coins to choose from Binance is hard to beat. In addition, Binance offers a wide variety of transaction possibilities including peer-to-peer trading, stop-limit order and trailing stop order.
I have signed up for my Binance free account, what next?
Great question and another simple answer.
Buy some cryptocurrency.
I would suggest some research is a must, so do your due diligence and find out a bit about the coins you want to purchase.
However, here are a few methods the professional use for investing in cryptocurrency:
- Market capitalization: This simply means investing in the cryptocurrency that has already the highest investments. These are a safe bet. The two highest capitalized cryptocoins hold almost 70% of the capital. However, in many cases the cryptocurrency trading platform may only be willing to take minimum investment of 100 dollars plus for Bitcoin.
- Bitcoin (43%)
- Ethereum (19.6%)
- Cryptocurrencies in limited supply: This is the classic supply and demand bitcoin and altcoin trading strategy. This means if there is a limited supply the price will rise so purchase at a lower price and sell high.
- Cryptocurrency information sheet: Understanding why the coin was made is a go starting point. This will make it easier to understand if it has a realistic chance of being a good investment.
- Cryptocurrency case study: If the coin has been around for an amount of time that allows for some kind of evaluation, do a case study so it is clearer why users and investors have purchased this coin. Does this coin have a future or not?
At the end of the day, these are just observations and suggestions. You finally have to decide what cryptocurrency you want and how much you want to invest. It is as simple as that.
Yes, there are risks, but success in your investment will come with risks.
Conclusion
On the whole and after a year using Binance I consider them one of the most trusted crypto exchanges online. Everything works and even though there is a learning curve for anyone new to cryptocurrencies, it is not that difficult to understand. In fact, my biggest issue was creating the Binance free account in the first place.