Binance Centralized Exchange

8 min readJun 19, 2022

The Binance Exchange is a leading cryptocurrency exchange founded in 2017 in Hong Kong. It features a strong focus on altcoin trading. Binance offers crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens!

Binance is an online exchange where users can trade cryptocurrencies. It supports the most commonly traded cryptocurrencies.
Binance provides a crypto wallet for traders to store their electronic funds.
The exchange also has supporting services for users to earn interest or transact using cryptocurrencies. It also offers programs for miners and to help traders make investment decisions.
Binance has its own blockchain-based token, Binance Coin (BNB).

How to Register on Binance

Go to Binance.com and click “Register”:

On the registration page, enter your email address and create a password for your account. Then, read and agree to the Terms of Service and click “Create Account”:

Note:

Your password must be a combination of numbers and letters. It should contain at least 8 characters, one UPPER CASE letter, and one number.
If you’ve been referred to register on Binance, make sure to fill in the correct Referral ID here.

Complete the Security Verification:

The system will send a verification code to your email. Please enter the verification code within 30 minutes:

Congratulations, you have successfully registered on Binance:

To enhance your account security, click “Go to Dashboard” to enable two-factor authentication (2FA), including phone verification and Google verification

This procedure is mandatory! Only by setting two-factor authentication will you be able to withdraw cryptocurrency outside the exchange or to a bank card.

How to Enable Google Authentication (2FA)

Log into your Binance account and click “Profile”, then “Security”:

Click “Enable” next to “Google Authenticator”:

You will be redirected to another page. Follow the step-by-step instructions to enable Google Authenticator.

Download and install the Google Authenticator App on your mobile device. After you’ve installed the App, click “Next” to continue:

You will now see a QR code on your screen:

Open the Google Authenticator App and tap on the “+” button on the bottom right of your screen to scan the QR code. Then click “Next”.

If you are unable to scan it, you can manually enter the setup key.

Save the backup key on paper. This Key will allow you to recover your Google Authenticator in case you lose your phone:

Verify your Google Authenticator with your other 2FA devices:

You have successfully enabled Google Authenticator to protect your account:

Now, in order for you to have the opportunity to deposit funds to your account and trade them, you need to identify yourself (complete verification).

How to Complete Identity Verification

You can access the Identity Verification from “User Center”, then “Identification” or access it directly from here. You can check your current verification level on the page, which determines the trading limit of your Binance account:

Here you can see “Verified”, “Verified Plus”, and “Enterprise Verification” and their respective deposit and withdrawal limits. The limits vary for different countries. You can change your country by clicking the button next to “Residential Country/Region”:

After that, click “Start Now” to verify your account:

Select your country of residence. Please ensure that your country of residence is consistent with your ID documents:

You will then see the list of verification requirements for your specific country/region. Click “Continue”:

Enter your personal information and click “Continue”.

Please make sure that all the information entered is consistent with your ID documents. You won’t be able to change it once confirmed:

Next, you will need to upload pictures of your ID documents. Please choose the type of ID and the country your documents were issued. Most users can choose to verify with a passport, ID card, or driver’s license. Please refer to the respective options offered for your country:

Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.

For example, if you are using an ID card, you have to take photos of the front and back of your ID card.

Note: Please enable camera access on your device or we cannot verify your identity:

Follow the instructions and put your ID document in front of the camera. Click “Take a photo” to capture the front and back of your ID document. Please make sure all the details are clearly visible. Click “Continue” to proceed:

8. After uploading the document photos, the system will ask for a selfie. Click “Upload File” to upload an existing photo from your computer.

After that, the system will ask you to complete face verification. Click “Continue” to finish face verification on your computer.

Please do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient:

After completing the process, please wait patiently. Binance will review your data in a timely manner. Once your application has been verified, you will get an email notification.

Do not refresh your browser during the process.
You may attempt to complete the Identity Verification process up to 10 times per day. If your application has been denied 10 times within 24 hours, please wait 24 hours to try again.

How to Deposit Fiat with Credit/Debit Card

Select the currency you want to deposit, and select “Bank Card” as your payment method. Click “Continue”:

If this is your first time adding a card, you will have to enter your card number and billing address. Please make sure the information is accurate before clicking “Confirm”.

Note: If you have added a card previously, you can skip this step and simply select the card you wish to use:

Enter the amount you wish to deposit and click “Confirm”:

The amount will then be added to your fiat balance:

You can check your balance in “Fiat and Spot” wallet:

How to Withdraw Fiat Currency

Binance supports more than 60 fiat currencies and multiple different payment methods.

Once you’re logged in, move your mouse to Wallet, and click on Fiat and Spot:

Click on Withdraw:

Select the Fiat tab:

Select the fiat currency you’d like to withdraw and the payment method. Binance supports credit cards, debit cards, bank transfer, or cash balance.

*The payment method is based on your selected currency and region:

Enter the required details and follow the instructions:

Enter your verification code to confirm the withdrawal:

How to buy token FIL of FileCoin blockchain

First, you need to go to Spot trading. Click on “Trade”, then “Spot”:

Enter “EUR” in the search bar and select the EUR/USDT currency pair. Then set the switch to the “Market” function (thanks to this, you can buy or sell cryptocurrency in one click), and select the amount in EUR for which you want to buy USDT tokens (this is the main stablecoin on the crypto market, it is always equal to $1) and click “Sell EUR “:

Ready! USDT tokens are already in your wallet in the “Fiat and Spot” section.

Now return to the trading interface and search for the FIL token paired with USDT in the search bar. Set the trade type to “Market”, select “Total” to see how much in dollars you are buying FIL. Cckick “Buy FIL”:

Congratulations! FIL tokens are credited to your wallet:

Buying an ICP token of the Dfinity project

First, you need to go to Spot trading. Click on “Trade”, then “Spot”:

Enter “ICP” in the search bar and select the ICP/EUR currency pair. Then set the switch to the “Market” function (thanks to this, you can buy or sell cryptocurrency in one click), and select the amount in EUR for which you want to buy ICP tokens and click “Buy ICP“: