What is bitcoin: A cryptocurrency (or crypto asset) is a digital asset, a virtual element that uses cryptography to secure transactions, the way it works is designed as an alternative to cash exchange tool. Bitcoin, created by Satoshi Nakamoto in 2009, is the first decentralized cryptocurrency. Binance – The World’s Leading Cryptocurrency Exchange
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How to Buy Bitcoin with Credit or Debit Card on Binance
On Binance Buy & Sell, you can choose how to buy Bitcoin with credit card or debit card. And the good news is that we support just about every major local currency there is.
You can access Binance Buy & Sell from these three platforms, each with the same low fees and advantages, but on different devices.
– Binance.com lets you access our crypto trading and services platform from your web browser, whether you access it on a computer or through your mobile phone.
– Binance Desktop is a standalone software available for desktop and laptop computers running Linux, macOS, or Windows. Download Binance Desktop here.
– Binance App is a mobile device app that you can use on phones and tablets running iOS or Android. Download the Binance App here. Once you’re done, you can switch between Pro and Lite, depending on your crypto experience and needs.
In the next part of the article, we will show you how to use your credit or debit card to buy Bitcoin and other cryptocurrencies.
How to Buy Bitcoin with your Credit or Debit Card on Binance.com and Binance Desktop
The Binance.com website has a dedicated section where you can choose which cryptocurrency to buy (Bitcoin in this case) and what local card you want to use (Visa or MasterCard).
This similar interface for buying crypto is also present on the Binance Desktop program, which mirrors what’s on the website, but with faster loading speeds, as components that would have taken a second to load via the Web are already loaded in your program for added convenience.
The step-by-step instructions for buying Bitcoin are exactly the same for both platforms. Follow these instructions below.
1. On your Internet browser, go to Binance.com and login with your Binance account. If you don’t have one, click here to open a Binance account.
2. On the menu bar at the top left side of the website or desktop app, go to Buy Crypto and select Credit/Debit Card.
3. You are now led to a new page where you can proceed with your Bitcoin purchase. Select your preferred local currency and enter the amount you want to spend. (Please note that there are minimum and maximum amounts you can enter for each corresponding local currency. Then, under Coin, select BTC (or your preferred cryptocurrency). Then, click Buy BTC.
4. A pop-up window will open on the website where you can enter your card information, such as your card number, expiry date, and CVV code. Enter these details, then click Next. You’ll be prompted to enter more information such as your country, address, city, and postal code. Once you’re done, click Pay Now.
5. You will now see a Confirm Order prompt, where you can check if your order is correct. To confirm your order, click the checkbox beside the “I have read and agree to…” section and then the Confirm button. Please note that you have 60 seconds to confirm your order.
6. Once the transaction is successful, you will receive your Bitcoin.
How to Buy Bitcoin on Binance App Lite
We recommend using Binance App Lite Mode for a simple and straightforward experience, but you can sell Bitcoin with both Lite and Pro modes.
1. Download the Binance App on your mobile device and login to your Binance account. If you don’t have a Binance account, click here to open one.
2. In the top left corner of the screen, tap the profile icon and switch to Lite.
3. Tap the yellow trade icon in the middle of the screen and choose Buy.
4. Search for Bitcoin, then enter the amount of local currency you want to use for the transaction. You also have the option to enter how much Bitcoin you want to buy or to change the local currency you want to use.
5. You will be led to a page where you can choose whether you want to pay with cash deposit or credit/debit card. If it’s your first time using a credit card for the transaction, select “Change Card” and select “Pay with new card.” You can then proceed to enter the details of the card that you want to use for this transaction.
6. Once you’ve confirmed the card that you will use, you can proceed to confirm your transaction. Click “Confirm” to push through with your purchase. (Please note that you have 60 seconds to confirm the transaction at the rate displayed on the screen). You will then see a summary of details for your transactions. Once you’re happy with the details, click “Confirm” again and wait a few seconds until the “Purchase Successful” screen appears.
Now you know how to buy crypto using your credit/debit card. In all of these options, the transaction took less than 30 seconds to finish. It takes less than a minute to enter crypto and do what you want with your newly-bought Bitcoin.
How to Sell Bitcoin on Binance: Step-by-Step Guide
What’s the first word that comes to your mind when you hear Bitcoin? Chances are, it’s “HODL”. HODL is commonly used by cryptocurrency investors who refuse to sell their crypto, usually bitcoin, regardless of whether the price increases or decreases. Most of us aim to accumulate as many bitcoin as possible, but there are times when you need or want to sell your holdings.
The easiest, cheapest, and fastest way to sell your bitcoin and other supported assets into your local currency is Binance Buy & Sell. Once you sell your bitcoin, you can choose between local currencies EUR, GBP, USD, BRL, AUD, TRY, RUB, MXN, UAH, KES, KZT, and UGX, and save on fees with bank transfer, instantly withdraw with your credit or debit card or get cash with P2P. You can also choose between three platforms, each with the same low fees and advantages, but in a different package.
– Binance.com is our intuitive web platform that provides all the features Binance offers in a traditional website interface.
– Binance Desktop is a software available for desktop and laptop computers running Linux, macOS, or Windows. Download Binance Desktop.
– Binance App is available on all mobile devices and tablets running iOS or Android, and you can download it here. Switch between Pro and Lite, depending on your crypto experience and needs.
In the next part of the article, we will show you how to sell bitcoin into fiat currency and withdraw your money. In this article, we will focus on selling and withdrawing money via credit or debit card and bank transfer. If you want to learn how to sell via P2P, read the Binance P2P FAQ.
How to Sell Bitcoin on Binance.com and Binance Desktop
The Binance.com web platform and Binance Desktop user interfaces are almost identical with minimal differences. The step-by-step instructions for fiat withdrawal are exactly the same for both.
1. Navigate to Binance.com and login with your Binance account. If you don’t have a Binance account, click here to open one.
2. Open your Binance Fiat and Spot wallet and find Bitcoin you wish to sell into fiat.
3. Now you need to switch your Bitcoin into fiat before you can withdraw it. There are two options available – Trade Bitcoin to fiat via Spot Trading (BTC/EUR, BTC/AUD, etc.) or use the Convert function to swap between currencies immediately.
4. Once you obtain your preferred fiat currency, navigate back to the Fiat and Spot wallet and click Withdraw.
5. Select the currency you wish to withdraw and the preferred withdrawal method. Binance supports credit cards, debit cards, bank transfers, and local wallets. Each of them comes with different advantages. Credit/debit cards offer instantaneous withdrawal but at higher fees, while the bank transfer takes a bit longer, but the fees are generally lower.*
6. Enter the amount you wish to withdraw and fill in the required details. If you’re withdrawing fiat for the first time, you’ll be required to link your debit/credit card or bank account, depending on the withdrawal method you chose in the previous step.
7. Confirm the withdrawal, enter your verification code (text or email, or both), and you’re done.
*The available payment methods might differ based on your region.
How to Sell Bitcoin on Binance App Lite
We recommend using Binance App Lite Mode for a simple and straightforward experience, but you can sell Bitcoin with both Lite and Pro modes.
1. Download the Binance App on your mobile device and login to your Binance account. If you don’t have a Binance account, click here to open one.
2. In the top left corner of the screen, tap the profile icon and switch to Lite.
3. Tap the trade icon in the middle of the screen and follow the simple instructions.
4. Enter the amount of bitcoin you wish to sell, select your local currency, and enter the amount.
5. Once the sale is confirmed, tap Wallet and choose the local currency you just obtained (EUR).
6. Tap Withdraw, select a payment method, enter the amount, and add the required withdrawal info. If you’re withdrawing fiat for the first time, you’ll be required to link your debit/credit card or bank account, depending on the withdrawal method you chose in the previous step.
7. You’re done. Your money is on its way.
Now you know how to sell crypto into fiat and withdraw your local currency to your credit/debit card or a bank account with minimal fees and fast processing times.
Do you want to explore other options to sell bitcoin and other cryptocurrencies on Binance?
Check out these excellent materials:
3 Ways to You Can Sell Your Bitcoin Into Cash: A Quick Guide from Binance
How to Withdraw Fiat Currency from Binance
(Support) Instant Card Withdrawals
(Support) How to Sell on Binance P2P via Desktop
(Support) How to Sell on Binance P2P via App
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