How to Use Binance Smartphone App Buy Bitcoin on Binance App
So the wallet and all the trading features buying cryptocurrencies like bitcoin and everything else as well ill leave the link to sign up for finance in the description below. So you know youre going to the right place to sign up for binance plus a lot of other information and helpful videos will all be in the description. So i recommend checking it out. Lets just get right into the app and ill show you how binance works. So lets get the binance app opened up and the easiest way is ill. Just leave the sign up link in the description. You can click that go through and then come to the sign up page. You will need an email address and then choose your password to log into the system. There are lots of security procedures when logging in so youll have to do the same as im doing here then youll have to confirm your email address, go through two factor authentication. So give them your phone number and then receive a text message with a code. If you want to go ahead and buy cryptocurrencies on binance, you also have to give over your kyc information. Youll have to input your address and also give them a form of photo id either your passport, your driving license or id card. Depending on the country. You can also choose between binance and binance lite. If youre a total beginner, you may want binance lite, but by the end of this tutorial you will know how to use the fully fledged version of binance anyway, once you have your account set up and youve, given them your information, then the home page should look A little bit like this so first were just going to come to the settings so well, come to this option right here and then come down to settings and click this you can change the base currency so right now i have it in us dollars, but you Can search for any currency as your base currency and then other crypto currencies will be valued in that currency, so that makes it super easy for you to actually know how much theyre worth in relation to your base currency.
Other important settings, of course, are the security settings. So if we go back and go into security, everything can be handled right in here. If you want a physical security key, you can get that, but you have to go onto the desktop version to apply for that. You can you also use google authentication, which is an app that you can get on both ios and the google play store account activity is super important, so you can actually see all of your last logins and where they were just in case. Anyone unknown has actually got into the account, and you can also use face id to get into the app, which i think is very good, so really theyre the important settings we can come back to the main page. First, i want to go over to the wallets page, so thats down in the bottom right, so we can hit this one right here now. This is an overview of all of the cryptocurrencies and also fiat currencies that you hold on account with binance finance values. All of your cryptocurrencies, together with this overview in relation to bitcoin, so you can see the holdings that i have valued in bitcoin right here and then down here. You can see the spot prices for all of my cryptocurrencies, any other holdings that you have in any other accounts, for example, a peer to peer account or any of your earnings with binance earn ill get onto binance earn towards the end.
So you know what that is, but really this is just an overview of all of the currencies that you have on account if we go over to the spot page right here, this will give you an overview of your currencies and any profit and loss on the Day because of course, currencies are moving around now, you can see spot right here. I just have holdings of some crypto currencies and fiat currencies and all of the holdings that i have are shown to me. You can deposit funds, withdraw funds and transfer funds from this option. So if i just go back to overview, you can see the options right at the top for deposit, withdraw and transfer so im just going to click on deposit and right now you can see this is a very simple way of depositing other cryptocurrencies into your binance Account so if you want to transfer some bitcoin into your account, you can just click on bitcoin right here and then this is the bitcoin address for your binance account. So anyone that wants to send bitcoin to you needs this deposit address. They can either copy the long address, as you can see right here, or they can just scan the qr code. You can also download that qr code, because that is your bitcoin address for binance. So if anyone wants to send you a payment or to transfer any bitcoin into your binance account, then they would need either your deposit address or the qr code, and that is right there for you, so its very easy to accept deposits with binance and its really.
The same for withdrawals as well so well just click out of here and we can go to withdrawal and then, once more, you just have to select actually the currency that you want to withdraw so lets just take cardano as an example, i can click on cardano. What you have to do is select the address that you want to send it to so. Whoever the person is that you want to send it to either somebody else or a different account or a different wallet that you have somewhere else. You can just paste the address in right here and then it will go through to that address. You can see the option right here to actually scan a qr code, so if the other app has a qr code, very simple, to scan that, and of course, this option here is to actually add a list of white listed addresses that you can send to so. Once you have people that you send to regularly, you can whitelist those addresses and be sure that youre sending it to the right place so withdrawing and depositing cryptocurrencies, and it is more or less the same for fiat currencies as well transferring you can actually transfer your Cryptocurrencies from one of your binance accounts to another, so right now all of my cryptocurrencies are held in my spot account, but you can click on this one and see you can actually send those cryptocurrencies elsewhere. So you can send them to your peer to peer wallet or you can send them to the pool so im not really going to get into those options in this tutorial because it is for beginners.
But you can transfer from one of your accounts to another. Using the transfer button lets get on to buying cryptocurrencies then, and there are many ways to do this – the simplest way is to simply go to the home page right here. The easiest way is just to show you and click on bitcoin. So right here we are in the buying cryptocurrency page, its a very simple transaction, so you just have to firstly choose the fiat currency that you want to pay with and of course, for me, it defaults to pound sterling because im in the uk, you can even Change this, so if you do have other currencies that you want to actually pay with, you can just come and choose all of these supported currencies here from all around the world, and then you just have to choose the cryptocurrency that you want to purchase. So again you can choose all of the cryptocurrencies that are supported on binance and there are very many, including all of the most popular ones. The minimum is 15 and the maximum is 5 000 at the moment for me. So if i just put 15 in here that is 0.000 583 bitcoin and if i just put a couple of those on the end, obviously the decimal places move up, so you can actually choose how much fiat currency you want to spend. They will tell you how much bitcoin or other crypto that you are going to buy.
Then you have the payment option either with a new card or with your fiat balance. Fiat balance is basically cash that you have transferred into finance. Using a bank transfer. Fiat balance is going to be a far far cheaper way of buying the cryptocurrency compared to using a credit card credit card somewhere in the region of a two percent fee, maybe three percent fee and fiat balance far lower under one percent. If you want to sell a cryptocurrency and convert it into a food currency, you actually have to go to this same page. You can see in the top right hand, corner there is a sell button. So what you can do here is sell the cryptocurrency that you have and youll see that you can choose the fiat currency that you want to convert it to so, once more, i can press this come to gbp for pound sterling enter the amount of bitcoin. I want to sell either by typing it in or just clicking on max and binance, really on this occasion act as an exchange, and just do that transaction for you, so you dont really have any control over the exchange rate. You just hope that binance give you a prevailing rate at the time that you make the transaction for other transactions like converting one crypto to another crypto. We can do that as well in the convert tab. So lets come out of this uh page and well come up to the options at the top right here.
So we can come to more and you can see all of the options that you can use in binance well come to convert then under the trade screen. So well hit the convert icon the currency pair that binance defaults to is bitcoin versus binance coin. So you can see from bitcoin right here. You can, of course, change this, but lets just keep it on bitcoin and ill go max like this, and then you can transfer that into binance coin or many other cryptocurrencies that are supported by binance. So all you have to do is just put the amount in so 0.2 like this, and that will go into an amount of binance coin. This is known as a currency cross, so youre selling bitcoin and then transferring it into binance coin. Now, if you want to control the rate that you exchange crypto currencies at you can do that and have complete control staying in this convert tab at the top. You can see some extra features im going to move over to the spot market for right now, bitcoin against the us dollar tether. Now the us dollar tether is a stable coin. What that means is that its value is linked to an underlying fiat currency. In this instance, the us dollar so for every one us dollar tether that is worth the same as a us dollar. So we can tell from this that one bitcoin is worth 34 580 u.s dollars because it is trading against us dollar tether.
The benefit of using this spot screen is that you can have complete control over the rate that you buy and sell at so lets, say you want to buy some bitcoin and you had some us dollar tethers. Well, right now the price is 34.552, as you can see on the screen, but lets say that that was just too expensive for you and you didnt want to pay that price. You can come up here and actually change this, so maybe you wanted to pay 34. 500 like this, so i can press done right now. What this will do for me is enter a trade into the market. If the price of bitcoin versus the us dollar tether reaches my price, then i can trade. I can uh put the amount of bitcoin that i want to buy. So lets come in here and just type 0.05 like this, and you can see that 0.05 at 34 and a half thousand dollars is 17.25. So that is the amount of bitcoin that ill be buying with us dollar tether. The difference here really is that you are entering your limit price into the market when youre using convert. You have no control over the price. This, the exchange rate is given to you by finance when youre trading in the spot market – you, as you can see right now on screen, can have complete and utter control of the price that you are paying or if you want to sell that you are receiving You can enter your order, but theres not necessarily going to be matched with a seller, but you can definitely put it in the market and binance will allow you to put that order in and really have many orders at different prices.
For most people, though, youll just go to convert and its a lot easier. Next, i want to get into staking so were going to come back to the home page, were then going to come to the more tab and, as you can see, right down here in finance im just going to click on staking now. A very quick example of staking staking is much like receiving interest for coins that you have on account so much like holding any currency in a bank account and giving a bank your money. You should receive an interest rate for lending them or giving them your money because they can use that currency elsewhere, its the same with cryptocurrency. You can put currency on account for certain amount of time and actually receive an interest rate, and during that time period you will not be able to use that currency, but it is used by the blockchain and also exchanges to create liquidity, and you receive an interest Rate and an amount of coins back for the staked currency that you have on account. It is offered in binance staking your coins to add an interest now that you know how easy it is to use binance. I will leave the link to sign up in the description box below and if you need more tutorials about trading and cryptocurrency, i will leave them linked in the description as well. Thank you for watching this one subscribe.