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Buying your First Cryptocurrency

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Difficulty
Intermediate
Duration
22m
Students
58
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5/5
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Description

This course delves into the subject of cryptocurrency wallets and covers what they are, how to choose the right one for you, and how to buy and sell cryptocurrency.

Transcript

You may remember I guided you through the process of setting up a wallet. That wallet was, of course, Exodus, a desktop wallet. Personally, I feel it's the most user-friendly cryptocurrency wallet out there. In this lecture, I want to walk you through the steps required to use Binance, a cryptocurrency exchange to purchase cryptocurrencies. If you're not aware of the Binance cryptocurrency exchange, let me give you a little background. Binance has been around since 2017. It's one of the fastest growing cryptocurrency exchanges fact. Some of the reasons cited for its tremendous growth rates are: it's available in multi-language multiple languages, it has a simple user experience, and they process orders at lightning speed. Remember, Binance is a cryptocurrency only exchange, no fake cryptocurrencies can be deposited. However, they have recently allowed deposits via credit and debit cards, which is a huge step. Now, if you're actively seeking to use an alternative cryptocurrency exchange, definitely check Binance out. They list many of the latest tokens, in some cases gaining priority over other exchanges, such as, Poloniex and Kraken. Let me switch over now and show you how easy it is to get started. One, head over to Binance. Remember to follow the correct link to Binance, it's simply binance.com. I don't want you to fall prey to the numerous fishing sites out there. Two, register with Binance. Simply enter the information required for an account: email, password, password confirmation, then agree to the terms, and click 'Register.' Now, if you do want to do me a favor, you're more than welcome to use my referral ID, so that's 21831759. Free deposit cryptocurrency. This is a super simple process. You just hover over funds and select Balance. From there, select Deposit on whichever cryptocurrency you wish to deposit into Binance. You simply then send it over to the deposit address shown. Alternatively, you can buy cryptocurrencies using your credit or debit card on Binance now if you don't already have any cryptocurrencies in the first place. So, that's also a super simple process. So, that's how easy it is to actually get started with Binance. Now, when you wish to start executing trades, let me show you how that would work. First, buying. So, we'll use the Ethereum Bitcoin trading pair. If you're buying at market, right? Select the option, then simply enter the amount of Ether you want to buy and confirm the order, simple. In the next lecture, I'm going to showcase how the selling process with Binance works, as well as share other little interesting facts you should be aware of when it comes to the Binance cryptocurrency exchange.

About the Author
Students
455
Courses
8
Learning Paths
1

Ravinder is an expert instructor in the field of cryptocurrencies and blockchain, having helped thousands of people learn about the subject. He's also the founder of B21 Block, an online cryptocurrency and blockchain school.