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Bitcoin Orders - How to Confirm Orders
Since the beginning of the year, the price of Bitcoin and other cryptocurrencies have steadily risen, giving investors the opportunity to make large sums of money. For those looking to get involved, here's how to buy cryptocurrencies on Binance, one of the most popular Cryptocurrency exchanges.
Register For An Account Before you can buy any coins, you'll need to register for an account with Binance. This will take less than a minute and is free. Once you've done that, you'll be able to place orders and track your holdings on the platform.
Check Your Email Binance sends you an email to confirm your account. You'll need to click on the link in the email in order to verify your email address and complete the registration process. Once you've done that, you can use the platform to buy cryptocurrencies.
Create A Buy Order Now that you have an account, you can place orders for Bitcoin and other cryptocurrencies. You'll need to do this by hitting the ‘Funds' button at the top of the page. From there, you can choose which cryptocurrency you'd like to buy, how much you want to buy and the exchange you want to use (more on this below).
You can choose between three different ways to place orders: you can either type in the cryptocurrency's ticker symbol, scan a QR code or use an external platform to find the price of a cryptocurrency and place an order accordingly. Whatever method you choose, prices will be shown in USD ($).
Choose Your Exchanges Each cryptocurrency is traded on an exchange, also known as a market. Because there are hundreds of different markets on Binance, finding the perfect one for your needs can be tricky. Check out the Bitcoin (BTC) exchange rate to the US dollar, for example, to see what I mean.
You'll see a table with different markets for Bitcoin and other cryptocurrencies you might be interested in buying. Near the top of the page, you'll find buttons that allow you to access different markets. For this example, I'll choose the BTC market because I want to buy Bitcoin (there are actually quite a few other cryptocurrencies on Binance that I could have chosen, but I like BTC the most).
When you choose a market for a specific cryptocurrency, it will show up at the top of the page. Next to the market, you'll see a graph that shows the buy/sell ratio for the selected cryptocurrency. This indicates how active the market is at this moment and if it's a good or bad time to trade.
Set The Amount You Want To Buy Once you've found the market for the cryptocurrency you want to buy, all you need to do is set the amount you want to buy. For this example, I'll choose 150 BTC because that's how much money I have in my Binance account at the time (I'm sure there's at least a few other people out there who want to buy Bitcoin, too, so the exchange is probably not overwhelmingly busy at this moment).
Then you'll see a button that says ‘I want to buy' next to the ‘Funds' button. When you click on that, you'll be taken to a page that shows you the available orders for the selected cryptocurrency.
Here, you can choose the price and quantity of the order you'd like to place. You can either use the default settings or you can edit them to fit your needs. In this case, I'll go with the default settings and simply choose Bitcoin as the cryptocurrency. You'll then see a page that confirms the order you've placed.
You can choose to have the order executed immediately or you can set a timer for it to be executed at a later date.
Confirm Your Order When you place an order, you'll need to confirm it. To do that, click on the ticker symbol for the cryptocurrency you want to buy (in this case, it's BTC so I'll click on the Bitcoin symbol to go to the orders page).
Then, you'll need to check the box adjacent to the order you want to place and press the ‘Place Order' button. You'll then be shown the order you've placed and an explanation of what it is (in this case, it's an order to buy Bitcoin).
You can click on the ‘My Orders' tab to go to the history of all your orders. From here, you can hit the ‘Details' button for each order and access all the information about that particular order (including a chart with the full cryptocurrency transaction history).
Another way to confirm an order is by scanning the QR code for the order. Simply scan the code below using your smartphone camera and you'll be taken to the order's confirmation page. From there, you can click on the ‘I confirm' button to accept the order you've scanned.
You can also choose to have the order sent to an external address instead of having it sent to Binance. This will prevent others from tampering with your order by guessing the address. Should someone try to do that, you'll need to remove them from the order's payment details. This is especially useful if you're placing a large order because it prevents others from changing the price of the cryptocurrency you're buying before your order is executed (for example, should someone want to sell all their Bitcoin at the current price and you choose to have the order shipped to an external address, they will not be able to do that without your knowledge).
Once you've confirmed the order, it will be entered into the system and the process will continue to the payment system.
Where Do I Get My Money From? When an order is placed on Binance, the funds to pay for the order will appear in your Binance account within a matter of minutes. As soon as they appear, you will be able to use your account to purchase the cryptocurrency you want to (this is also where all the waiting is, often, so it's important to remember that everything happens very quickly on Binance).
If you want to buy a large amount of cryptocurrency at one time, there are several solutions. One way is to use a credit card to make the purchase (Visa, Mastercard, and Amex all have sign-up bonuses that give you money to spend on whatever you want). Another way is to use a loan from a bank or a finance company. The advantage of this is that you'll not only have the money you need, but you'll also have a little bit of extra in the bank. This can really help when you need to make multiple smaller purchases or pay for shipping etc.
What About Fees? Binance charges a small fee for using the platform. For this example, it's 0.20% for credit card purchases and there's no fee for bank transfers or other methods of payment (this may change in the future, but it is not yet active).
If you want to avoid fees and make the experience as cheap as possible, you should use a credit card to make the purchase – that way, you'll not have to worry about paying any fees at all. Plus, you'll still have the benefit of using a well-known brand.
Summary Hopefully, this post gave you a good idea of how to buy cryptocurrencies on Binance. If you're looking for an even easier way to get started, check out this blog post about the best cryptocurrency brokerages. Finding a suitable brokerage is as easy as 1 2 3. Once you've done that, you can begin making cryptocurrency purchases with little to no effort.

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