Binance, Coinbase or Bybit? Which Cryptocurrency Broker to Choose? Do you have this doubt about which is the Best Exchange to use? We will explain to you exactly what we think about it.
Tutorial: How to Buy Ethereum on Binance?
Dear beginner... still don't know How to Buy Ethereum on Binance? Well, today is your lucky day, because we created this tutorial especially for you who want to take your first steps in the crypto market.
Why Buy Ethereum on Binance?
Ethereum is the second largest Cryptocurrency on the market and, some say that in the future - perhaps the near future - the market capitalization of this asset could surpass even Bitcoin itself. In fact, this potential exists, after all, today, the vast majority of tokens on Metaverso, Web3 and NFTs are built within this Blockchain. Therefore, we cannot ignore that this could happen.
We always recommend that you have Ethereum in your cryptocurrency wallet, after all, it is a well-marked project in this universe. In our wallet for beginners, we recommend having 50% exposure in Bitcoin and 30% in Ethereum, the other 20% you can allocate to promising projects like Polkadot and Polygon.
But of course, we like to point out that we are not indicating that you should buy these assets, it is just our very personal opinion.
With that, if you, investor, already know the importance of having Ethereum in your wallet and want to take the first steps, in other words: Buy Ethereum, we recommend using a Brokerage, as it is more practical! From there, as you study more about this market, you can gradually migrate to the DeFi universe. In this tutorial, we will teach you How to Buy Ethereum on Binance.
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Step 1: Register with Binance
Today, Binance is the Largest Cryptocurrency Broker on the market and, consequently, it has greater liquidity than the others. With this, you will have peace and tranquility when selling your cryptocurrencies, as there will be investors interested in buying them.
The first step is: Register on the Platform! This step is very simple, just click on "register" in the upper right corner of your screen and create your account; in this case, email and password.
Step 2: Knowing the Spot Market
Once you've created your account and preferably entered any form of "security", from two-step verification to SMS or email and of course, making your first deposit with fiat money, you can start giving your first steps!
In this second stage, we will get to know the Spot Market, in other words: the Spot Market! This is where beginners can buy their Cryptocurrencies in a simple and practical way! There is also an option to convert your state currency to any cryptocurrency you like, but we will teach you this way which is more interesting!
Just click on Trade > Spot and you will be taken to the next image!
Step 3: Knowing the Broker
Here, in the third step is where you, the investor, will prepare to make the purchase of ethereum. Many investors in this market like to buy a "stablecoin" before buying their favorite cryptocurrencies! These stablecoins are backed by USD.
The most famous ones are USDC and USDT, but in our case, there is no need to buy these dollar-backed coins... let's make the direct purchase of Ethereum, ok?
To do this, just go to the "search" bar and type: ETH and all the parities that this asset has will appear there, whether from the Dollar to the Euro or Bitcoin... and select the desired option.
Step 4: Buying Ethereum on Binance
Now that we've selected Ethereum as the Cryptocurrency of choice to Buy, let's of course buy it! We chose the parity with "Real" which is the official currency of Brazil, but you can choose the one that is best for you, regardless of the country where you live.
After choosing the desired option, there are two purchase options: Limit Order and Market Order... in the limit order, you can choose the exact price you want to buy ethereum, for example: U$14,000. Already in the market order, the broker itself will instantly buy your cryptocurrencies at the prices that are currently being traded.
The basic difference is that the "limit order" fees are slightly cheaper, as you, the investor, will provide greater liquidity on the platform, but this is very personal to each one. See how easy it is?
Check the content: What is a Decentralized Exchange?
The idea of freedom is fascinating and Bitcoin gives us that in many ways. Explaining ideas of a decentralized web on the Bitcoin Lovers website.