Bitcoin is a crypto currency created as late as January 2009. It cannot be used to pay any legal transactions such as bank debt; however it can turn out to be a very good investment because it is a currency that has no transaction fees which is due to the fact that it has a decentralized system, it does not go through any governmental or centralized institution which make transactions on the web way cheaper and faster. Nonetheless, there is no risk that your money could be anyway endangered because all records of performed transactions are retained in a public ledger and shared between all the members of the network. Then, it does garantees the highest level of privacy in transactions by using the peer to peer paying method. Most important, it can be switched to your local currency by many mediators. After the huge success of bitcoins, other alternative cryptocurrencies have showed up under the title of Altcoins that are expected to be more profitable than Bitcoins. Altcoin developers try to find out the bitcoins constrains and create currencies that do not have them to encourage more and more people to invest in the cryptocurrencies.
Bitcoin buying on Binance guide! Read below for a step-by-step guide how to buy Bitcoin .
If you’re not already registered on Binance , go to Binance and create an account.
Then simply click the register button and follow the instructions.
Now you can simply buy crypto using your credit-card or bank account
Simply navigate to this menu by clicking “your mail” in the top banner and then simply click “Buy/Sell Crypto”. Next you’ll be sent to this screen, here you can either choose to enter the amount of crypto you want, with the choice of Bitcoin (BTC), Ripple (XRP), Binance Coin (BNB), Ethereum (ETH) and Litecoin (LTC) or you can choose to enter the exact amount of USD or EUR you want to spend on your purchase.
Once you’ve entered your order simply click “Buy now” and you’ll then be presented with instruction for the KYC-program of Simplex (Binance’s partner) which is shorthand for Know-Your-Customer. This is a necessary part of being allowed buy crypto through established exchanges and the same thing is required by other exchanges such as Coinbase and Kraken.
After placing your order you’ll receive your crypto in a matter of minutes! Last time I made a purchase it took about 15 minutes for it to show up, but your experience may vary depending on the load of the network! So don’t worry if yours doesn’t show up immediately.
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