The easiest way to buy cryptocurrencies is to join an exchange, link a bank account, then create a purchase. Unfortunately, several common exchanges providing this feature are lacking in different areas. You can buy bitcoin or ethereum with a credit card, however not much else.
The best way around this limitation is to shop for cryptocurrencies on one exchange, then transfer the funds to another service. Coinbase and Binance are prime candidates for this type of transaction.
The quickest and easiest method to how to transfer Bitcoin from Coinbase to Binance, then begin commerce. Even if you've never purchased a cryptocurrency before, our guide below can walk you through the entire method, step by step.
Step 1: join Coinbase
Go to the Coinbase home page and click the "Sign Up" button at the highest right. Fill in your details, including a valid email address, then click "Create Account." Coinbase can send a verification email with a link you'll need to click to continue the sign-up method.
Once email validation is complete, go to your Coinbase account and choose to produce an individual account. Next, add a telephone number, then select a payment method. Bank accounts are recommended over debit cards, as Coinbase's fees are much lower for this type of transaction.
After choosing "Bank Account," Coinbase can prompt you to supply verification details for your ID. this is the KYC (Know Your Customer) method, and it's a common practice for most cryptocurrency exchanges. Gather the required documents and upload them to Coinbase.
Next, you'll be prompted to enter account details for your bank. Add the relevant info, and Coinbase can send two test transactions to its account, every simply a few cents. Once those appear on your statement, you'll need to return to Coinbase and enter the amounts to verify you own the account.
Once you've completed these steps, your Coinbase account is going to be set up. It may take a few days for the bank account transactions to finish, however apart from that you're ready to go...
Step 2: join Binance
Before you can send funds to Binance, you'll like an active account. This may be quicker and simpler than setting up the Coinbase account, as there's no bank info to share or validate.
Start by going to the Binance registration page. Enter a valid email address, followed by a password. Binance can send an email to you for verification. Click the link inside, and your account will be activated.
Log in to Binance using your email and password. Scan and accept the security risk notices and click "Continue."
Next, you'll need to set up 2-factor authentication either using the Google Authentication app or SMS Authentication. You can skip this step. However, we powerfully suggest you select away and use it for added security.
After 2FA is complete, your account is ready. There's an initial withdrawal limit of two BTC per day that you can raise by submitting KYC documents under your Account page.
Need a lot of help setting up a Binance account? Check out our full beginner's guide to using Binance.