How to Buy Bitcoin on Binance: A Beginner’s Guide

Buying your first cryptocurrency can be a daunting process, especially if you don’t understand the lingo or are new to the space.

If you’re new to the crypto world, you may be wondering what the difference is between a cryptocurrency exchange and a cryptocurrency wallet. Or maybe you’ve been following your wallet’s savings plan and want to know how to buy Bitcoin. (For more help with buying your first coins, check out our comprehensive how to buy Bitcoin guide.)

No matter where you are in your Bitcoin journey, we’ve all been there. Let’s take a look at some of the most helpful resources for newbies to Binance.

Binance

Binance is hands down, the best place to buy Bitcoin online. Launched in mid-2017 after being quietly incubated for three years by the cryptocurrency community, Binance is the only exchange with a proven track-record of stability, security, and execution.

Binance is the fastest growing cryptocurrency exchange in the world today. It saw more than 700% growth in volume since the beginning of this year – with investors, traders, and More importantly, cryptocurrency users flocking to it to get involved in the Binance exchange trading ecosystem.

Coinbase

Coinbase is one of the oldest cryptocurrency exchanges in the world. It was the first one to list Bitcoin Cash after the fork. But it has also been hit by trading issues and customer service issues.

Kraken

Kraken is a San Francisco based cryptocurrency exchange founded in 2011. It is one of the largest exchanges by volume and has a long-standing reputation for strong customer support.

Coinmama

Coinmama is a Bitcoin brokerage that enables purchases of Bitcoin and Ethereum using a credit card. Its platform is easy to use, and they have low fees.

Localbitcoins

Localbitcoins is another way to buy and sell Bitcoin securely. Using this site, you can find other people who want to trade Bitcoins to cash in your neighborhood.

How to Buy Bitcoin on Binance

There are currently two ways to buy Bitcoin on Binance: via Binance’s exchange or by creating an account with them.

Pros & Cons of Binance

Before we get into how to buy Bitcoin on Binance and which is the best method, let’s take a look at the pros and cons of choosing Binance for your first exchange.

Pros

Unmatched customer support: Binance has one of the best customer support teams in the business. They are constantly improving their support system and responding to customer concerns in real time.

Lowest trading fees: Binance has the lowest trading fees in the industry. This means you will probably pay the least amount in fees when using Binance as your exchange platform.

Wide range of coins: You can trade Bitcoin, Ethereum, Litecoin, Binance Coin, and a variety of other cryptocurrencies on Binance.

Fastest growing exchange: Binance is one of the fastest growing exchanges in the world today. This means it has a large user base and tons of demand from traders looking to get in on the action.

Final Words: Should You Buy Bitcoin on Binance?

If you’re looking to get into the world of cryptocurrencies trading, then Binance is a great place to start. Binance is easy to use, provides excellent security, and has the lowest fees in the business. There is a learning curve with any new trading platform, but Binance has made it as easy as possible not to mention their stellar customer support team. So if you’re new to the world of cryptocurrencies, then Binance is the perfect place to start.

Now that you know where to buy Bitcoin and how to buy it there, it’s time to get some Bitcoin yourself. If you don’t have any yet, you can head over to our guide on how to get free Bitcoin. There are a lot of places where you can get Bitcoin, so we recommend starting with a site that lists them all.

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