I’m currently considering to buy BTC etc. on Binance (Have 0 experience with buying crypto) and would like to leave some questions as I have heard different things from multiple people and want to make sure I sign up with proper knowledge.
1. Is it possible to buy BTC by linking my bank account? I’ve heard of this feature but in a recent video I watched about Binance, the guy said it is not.
2. Would you recommend Binance to a newbie – is it user-friendly? (And if not, please suggest alternatives)
3. Any experience with the customer service regarding any issues? Are they reliable and is Binance safe?
That’s it already, hope you can help a beginner out 🙂 Thanks it advance!
Binance has my number 1 trust and kraken number 2. No trust for any other exchange
No just cc on binance. Never had a problem with support. Its one of the few i do trust.
CC is credit card, and I seem to remember a hefty fee using credit cards to top up at binance. though, using credit cards incur hefty fee’s anywhere.
anyhow, start with small amounts of money to get comfortable, like 50 or 100 usd. learn what cold(/paper) wallets are (don’t lose your private key). learn what hardware wallets are. learn some technical terms like market buy, limit buy and market depth.
maybe BitVavo is easier to understand as rookie, but also have a look at their pro mode to get comfortable. you can also look at Coinbase but I heard that crediting your account can take like 5 days.
binance is great and all, but it’s not the most super simple user friendly for beginners.
did I say, start with small amounts of money already?
when learning, spend mostly time and just a little money on fee’s.
If you want a reliable exchange which is easy to buy cryptocurrencies and is also a German company I’d recomend Bitpanda.
Keep an eye out for Binance US. US traders won’t be able to trade or deposit on the current Binance platform after September 12th.