In this article, we will share with you on ‘How to buy Altcoins on Binance?’ To get the idea of buying Altcoins on the Binance, you must be prepared to read this page till the end. But before moving to the main topic let us read about in brief on ‘What is Binance?’
What is Binance
As its name suggests, Binance is one of the famous cryptocurrency exchanges with more than 5M users. It delivers an abundance of Altcoins to deal with.
One can note that Binance plays as a perfect platform for trading i.e buying and selling. One can go through the charts on Binance to attain its live pricing picks along it one obtains plenty of options on Altcoins trading to prefer from it.
How to buy Altcoins on Binance US
Many of the users have doubts on questions such as ‘Can you buy Altcoins on Binance? The answer to clear your doubt is ‘Yes’. Various types of options are available for the users on Altcoins to buy the Altcoins on Binance.
Let us look into the methods in detail below:
Steps to buy Altcoins on Binance platform
In order to learn the method on ‘How to buy Altcoins on Binance with credit card or App?’ then here are the steps on how you need to perform the process:
- Register to the Binance account
In the first step, you need to register on the Binance account and enter the required details to Sign up on Binance.
- Click on the ‘Register’ tab
Then, click the tab on ‘Register’ on the Binance account.
- Navigate to the ‘List of Crypto Wallet
In the next step, hit the option on ‘Funds’ which is in the top menu section.
- Select the ‘Deposit withdrawal’ tab
Now, select on the tab with ‘Deposit Withdrawal’.
- Look for the ‘Altcoin Wallet Address
Next, tap on the coin that you wish to deposit from the stated list.
- Cryptocurrency transfer to the Binance Wallet Address
Then, select on ‘Deposit’ which is next to the Coins you choose and then you will generate the Binance Wallet Address
- Send money from the account to your wallet (Coinbase to wallet)
So if you desire to do transactions on cryptocurrency from the Coinbase account to Binance, select the ‘Accounts’ option and then you need to hit on the ‘Send’ button. After that, you can just copy and then paste to the Binance address.
You must note to be more careful at the time of transferring Cryptocurrency to Binance so that you transfer it to the correct wallet currency. If you make a mistake then it may result in losing the investment. Double-check to avoid any sort of problem and be on the careful side.
You may need to wait for 20 to 30 minutes for the deposit to be displayed on the Binance account.
- Select on which Altcoin you choose to trade
In this step, hit the ‘Basic Exchange’ tab which is under the ‘Exchange’ section of the Menu tab. Here, one can select on what you want to trade.
- Start trading cryptocurrency deposited in the account
When you reach the ‘Exchange’ section, now you can go for the trading of the cryptocurrency which was deposited in the account. You can see a live chart on price along with the ‘Buy’ option.
Usually at first, the steps on exchange may seem a bit tricky but it gets easy with practising.
Advantages and Disadvantages of Binance:
One must always be aware of the advantages as well as the disadvantages on Binance when you are one of the user of this.
- It is easy to operate. Binance have an application through which you can use to buy Altcoins at a go.
- It delivers a lot of options to trade on Altcoins i.e more choices are available in terms to the investment made by you.
- It saves time which means Binance is fast to use and it gives quite a speedy response.
- It provides Security: Investing a large fraction of cash into the Altcoins needs a proper security which is provided by Binance for stocking the Cryptocurrency for a long term.
- Quick to Register.
- Arrival of new Altcoins.
- A bit confusing for beginners.
- You cannot trade on USD i.e fiat currency directly to OmiseGo.
So we hope, now you have learned to buy Altcoins on Binance, on both Binance App and through a Credit card. It may be a bit problematic at first to use, but it must not let you put it off. Once you operate this process for a number of time, it will be a lot easier and when you go on making more trades then you will be more pleased with the process.