Anyone even slightly interested in cryptocurrencies has likely heard of the world’s largest cryptocurrency exchange – Binance. Most newcomers attempting to conquer the crypto world find themselves here. So it’s worth understanding how to use the Binance cryptocurrency exchange and what awaits beginners there.
What is Binance
Binance Company was founded in 2017 and in just one year managed to become the leader of the young cryptocurrency market. Today, it is a huge platform for trading cryptocurrencies. The main advantages of the Binance cryptocurrency exchange over other exchanges are:
- the ability to conduct any transactions, both small and large;
- high transaction speed;
- low fees.
Pros and Cons of Binance
Before starting to work with Binance, it is worth familiarizing yourself with the advantages and disadvantages of the exchange. The undeniable advantages of Binance include:
very simple and fast registration, which attracts newcomers to Binance;
- the ability to replenish the account with ordinary debit and credit cards, including those in local currency;
- low fees compared to other platforms;
- high transaction speed;
- comprehensive functionality, opportunities for staking, trading, NFT trading, and more.
The disadvantages of the Binance cryptocurrency exchange include:
- relatively high fees for exchanging electronic money for fiat and withdrawing to cards, which is typical of most cryptocurrency exchanges;
- previously experienced hacks aimed at stealing assets, which often deter potential clients, although today the problem is considered solved;
- mandatory verification, which in itself is not difficult, but creates the risk of transferring personal data to third parties.

Why Newcomers Choose Binance
In addition to the listed advantages, the Binance cryptocurrency exchange attracts both beginners and experienced market players with a large number of opportunities, such as:
- support for all major, popular assets as well as promising ones;
- the ability to use deposits in local currency with replenishment from bank cards;
- support for various platforms, availability of mobile applications for iOS and Android, desktop application, and the ability to use online, through any browser;
- the ability to engage in margin trading with leverage up to 10x;
- support for futures trading with leverage up to 125x;
- efficient customer support, including detailed instructions for all situations and online assistance.

How to Register on Binance
Binance is one of the most convenient exchanges for beginners. Understanding everything is facilitated by the educational project – Binance Academy. Registration is very simple and can be done in a few steps without preparation:
- Find the yellow “Register” button on the Binance website in the top right corner.
- Choose a registration method – via email, phone number, Apple ID, or Google account.
- Follow all instructions, and enter the code sent to your email or phone number.
That’s it — in three steps, an account on the Binance exchange is created, and then verification. It confirms the user’s identity, increases the account’s security, and is necessary from a legal point of view in most countries, including Ukraine.

To pass verification, you need to do the following steps:
- Find the user icon in your account, click and select “Verification”.
- Choose “Start”.
- Select the country.
- Provide personal data.
- Upload a photo of the document confirming identity (passport, driver’s license).
- Upload a selfie.
- Confirm identity via webcam.
Then document verification begins. Once verification is complete, you can start using the Binance exchange.
How to Use Binance Exchange
One of the advantages of the Binance cryptocurrency exchange is its maximum user-friendliness for beginners. There are instructions for all cases, and the interface is intuitively understandable. To get started, you should top up your deposit from a bank card or another wallet. You can also buy directly from other users using the Binance P2P service.
To use a bank card, follow the following step-by-step algorithm:
- Select the “Buy Crypto with Credit/Debit Card” section.
- Choose the coin you want to purchase and the card for payment.
- Add card details.
- Specify the payment address.
- Click “Add Card.”
- Press “Continue.”
- Check all details, agree to the “Terms of Use,” etc., and confirm the payment.
The first cryptocurrency you purchase will be credited to your wallet. You can then move on to learn about other operations. Thanks to the system’s constant prompts, everything will work out. By the way, if you prefer to use a smartphone app, you can download it from the exchange’s main page by scanning the QR code. There you can also choose “Additional Download Methods,” where you will find applications for computers with various operating systems.
You should also read our article – Payoneer Breakdown: Fees, Pros, Cons, and Who It’s For.
Binance for Beginners – Video
To learn more about buying and selling currency on Binance, watch the video: YouTube
Conclusions
Binance is the largest and most popular cryptocurrency exchange in the world. Much of this success has been achieved through customer orientation and ease of use. Therefore, newcomers have nothing to fear. Using the Binance exchange is very easy, and everything will definitely work out.
Answers to Frequently Asked Questions about Binance
The problem may be with the selfie. On many smartphones, the front camera by default evens out skin tone in photos and makes other “improvements.” All these features need to be turned off.
The timeframes for verification on the Binance exchange can vary greatly, from several minutes/hours to several business days.
No, blockchain transactions are irreversible. This applies to all cryptocurrencies and exchanges.
Nothing. Company employees can only ask for Binance ID. Beware of scammers and do not disclose any confidential information to anyone.
Eddy Coherent is a finance expert with extensive experience in the industry, known for his deep understanding of financial markets and strategies. He shares his expertise on the WeaveMoney portal, where he translates complex financial concepts into actionable insights. Eddy's contributions are valued for their clarity and precision, helping readers make informed financial decisions.