In this guide, you can find all the details about opening a Binance account, and you can open your Binance account with a 45% commission discount by following the illustrated steps below.
Why should you open a Binance account?
Binance is the largest cryptocurrency exchange in the world. The main reasons why Binance is a popular cryptocurrency are: Low commission rates, altcoin diversity and high security.
You can also perform leveraged trades and staking on Binance, apart from normal trading (spot) trades.
How to open a Binance account? (45% commission discount)
By following the steps below, you can open your Binance account with 20% + 25% commission discount.
In addition, futures (futures) for automatically will earn 10% commission rebate.
Step 1: Go to the Binance registration page
First, go to Binance’s site by clicking the link or button: Register for Binance
Then, as you can see in the image below, you will see a membership form that you need to fill in.
Step 2: Complete the Binance registration form
After opening your Binance account, we will increase the commission discount from 20% to 45% with a second transaction.
Step 3: Enter the code from your e-mail address
Go to your e-mail address and enter the code sent by Binance on the registration form. After this step, your Binance account will be opened.
Step 4: Enable Binance two-step verification
After opening your Binance account, when you click on the place where it says “dashboard”, you will get a notification to enable two-step verification.
You can enable 2-step verification by downloading the Google Authentication app on your phone or by choosing SMS authentication.
Step 5: Set up the Google Authenticator app for Binance two-step verification
If you prefer the option to verify with Google Authenticator instead of SMS, you can install the application by following this step.
First of all, download the Google Authenticator application to your phone via the App Store or Google Store.
After downloading the application, click on the “next” button and proceed to the next step. Open the application on the phone and click on the + marked part and select “scan barcode”. Hold the phone to the screen and read the QR code.
Also, save the picture of the QR code or the code somewhere before proceeding with the next step. If the Google Authenticator application is deleted, you can reinstall it this way.
Otherwise, you may need to contact the Binance support team to access your account.
In step 2, which says “backup key”, Binance will ask you to save the code somewhere. You can write down the code somewhere and move on to the last step. In the last step, enter your password and code in the app and enable two-step verification.
Your Binance account is ready to use after you enable 2-step verification via SMS or the Google Authenticator app.
Step 6: Increase the Binance commission discount to 45%
As the second transaction, you need to activate the option to pay commissions with Binance Coin (BNB) on Binance.
When you trade in this way, BNB will be deducted as a commission and you will earn an extra 25% commission discount. Thus, you will pay a total commission of 40% (20% + 25%) less on your trading transactions.
The option to pay the commission with Binance Coin (BNB) should be active by default.
However, you can still check whether the option to pay commissions with BNB is active in the dashboard section of your Binance account as follows:
After depositing money to Binance, you can receive some BNB to cover the commissions to be deducted from the buy and sell section.
When you have BNB in your wallet, you will be deducted BNB as a commission when you make any transaction and you will earn an extra 25% commission discount.
If you have just opened your Binance account, you can learn how to deposit and transfer cryptocurrencies to your Binance account in the relevant topic below.
You can then trade Bitcoin, Binance Coin (BNB) and hundreds of other cryptocurrencies in your Binance account.
You can also use the Binance calculator to calculate the commission that will be charged for your transactions .
After opening your Binance account, you can perform your identity verification process from the identity section.
After completing the authentication process, your withdrawal limit from 2 BTC will increase to 100 BTC. You will also be able to deposit money receive cryptocurrencies with a debit card in your Binance account.
To perform the authentication process, first click on the identity page under the user icon as you can see in the image below.
Here, you can verify your identity information by clicking the “verify” button opposite the personal information. The address verification part is required to increase the deposit limit in some currencies.
Just verifying your personal information will be sufficient for limit increases and USD deposits.
The commission rate for deposits on Binance is 1%. When you want to buy crypto money with a debit card, a commission of around 2-3% is charged.
In this respect , you should use Binance to deposit money into your Binance account by paying a very small commission .
You can fund your Binance account directly from the bank, then transfer the cryptocurrencies you receive to your Binance account without withdrawal fees.
How is Binance used? Trading & commission rates on Binance
On Binance , you can earn money with many different methods, such as futures , margin trading and staking, as well as normal trading (spot trading) .
On Binance, you can perform normal trading transactions from the buy and sell section on their basic, classic or advanced pages.
You can buy and sell in thousands of trading pairs with hundreds of altcoins in the buy-sell section. You can also trade on Binance with many stablecoins such as USDT, USDC, and BUSD .
Apart from that, Ⓜyou can make leveraged transactions with Bitcoin and other cryptocurrencies on the “Derivatives / USDT- Futures” or “futures” page on Binance .
It is possible to make transactions with a leverage of up to 125x with Bitcoin. Before opening your futures account, you should definitely take a look at the futures guide .
Commission rates on Binance start from 0.1%. If you opened your Binance account by following the steps above, you will be trading at a 40% lower commission and 0.06% commission rate.
Withdraw cryptocurrency from Binance
You can withdraw your cryptocurrencies on Binance to your own wallets and other exchanges.
You can withdraw the cryptocurrencies in your Binance account to your account in other exchanges where those cryptocurrencies are supported.
To do this, first copy your address on the exchange where you want to transfer the crypto money. Then you can withdraw the crypto money to your address from the withdrawal section on Binance.
One of the things you should pay attention to when withdrawing coins from Binance is choosing the right network. For example, ERC20 tokens on the Ethereum network are also available as BEP20 and BEP2 on Binance’s networks.
However, ERC20 versions of these cryptocurrencies are traded on many exchanges. So BEP20 or BEP2 is not supported. Therefore, when withdrawing crypto money, you should pay attention to which network is supported and choose the right network.
Is Binance reliable?
Binance is currently the largest cryptocurrency exchange in the world in terms of both the number of users and transaction volume. The crypto coins that users keep on the platform are protected by the crypto money fund called SAFU.
In other words, even if Binance is attacked, users’ cryptocurrencies are secured with a constantly growing fund stored in a separate wallet.
Apart from that, you should definitely enable two-step verification for security on your Binance account. You can increase your account security by enabling authentication via Google Authenticator or SMS.
In addition to two-step verification, you can whitelist your withdrawal addresses on the security page on Binance and generate a phishing block code.
When you create a phishing blocking code, the emails sent by Binance will contain the code you specified.
In this way, you can immediately spot fake emails, also known as phishing attacks. You can also keep some of your cryptocurrencies in your own cryptocurrency wallets .