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How To Use Binance App For Beginners | 2026 Tutorial — Transcript

by Ryan Scribner · 3,274 words · 467 segments · language en · Watch on YouTube

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0:00If you're looking for the ultimate
0:01Binance tutorial for beginners, this is
0:03the video for you. We're going to be
0:05covering how to open an account, how to
0:07buy and sell cryptocurrencies, the
0:09beginner and advanced tools that are
0:11built right into the app, and more. Now,
0:14Binance is the world's largest
0:16cryptocurrency trading platform by
0:17trading volume, and it was founded back
0:20in 2017. They have over 270 million
0:23users across more than 180 different
0:25countries. Binance is known for having
0:28one of the widest selections of digital
0:30assets, some of the best features, and
0:32low overall trading fees. So, let's jump
0:35into my phone now and get started. But,
0:37real quick, guys, make sure you drop a
0:38like and subscribe to support this
0:40channel and help to make videos like
0:42this one possible. The first step is
0:44going to be visiting
0:45ryanoscribner.com/binance,
0:47and this is going to redirect you over
0:49to the app store, or you can simply just
0:52open up the app store yourself if you
0:53want and search for Binance. Now, since
0:56I'm in the US, I am going to be
0:58utilizing the Binance US version of the
1:00app, but there's a separate version of
1:01the app, the regular Binance app, if you
1:03are using it from other countries. Now,
1:06I already have it installed, so I'm just
1:07going to go ahead and open the Binance
1:09app now. Let's start by talking about
1:11the account opening process here with
1:13Binance, and I already had an account
1:14that was partially opened here, so I
1:16won't be able to show you the full
1:17steps, but I will give you a quick recap
1:20of what's to be expected. For starters,
1:22you need to be a US resident for the
1:24Binance US version of the app with a
1:26valid social security number, and
1:28Binance is going to ask you for this
1:30during the verification process. Binance
1:33is required to collect this information
1:35because of KYC, or know your customer
1:37laws, to verify your identity and then
1:40potentially report your trading activity
1:42to the IRS through various tax forms.
1:45Now, in addition, the verification
1:47process might also involve taking a
1:49photo of the front and back of your
1:51government ID, as well as recording a
1:53short video selfie. And lastly, there
1:55are certain states in the US where
1:57Binance is not currently available. I'll
1:59put that on screen now so you can pause
2:01it and review it yourself. So, go ahead
2:04and take a look at that and make sure
2:05your state is supported with Binance.US.
2:08And then once you complete all of those
2:10verification steps, you will have to
2:12fill out a simple investor
2:13questionnaire. This basically asks you
2:16about your employment, sources of
2:17income, and things like that. And it's a
2:19required step to open just about any
2:21financial account today. After that, you
2:24have completed the basic verification of
2:26your Binance.US account. Now, depending
2:28on the features and trading limits that
2:30you're looking for, you might decide to
2:31do the advanced verification step here
2:34in the settings later on. But for most
2:36people, the basic verification is plenty
2:38to get started with the app. So, the
2:40next thing I want to do is give you a
2:41quick tour of the app and then we're
2:43going to break down the different
2:45features. So, on the homepage here, you
2:47have the options to buy, sell, convert,
2:49and transfer. We're going to take a look
2:50at all of those shortly. There's also
2:52staking and this new boost section we're
2:54going to talk about. And below that is
2:56going to be a list of favorites. This is
2:58going to be the most popular
3:00cryptocurrencies. So, we have Ethereum,
3:02Bitcoin, and BNB, which is actually the
3:05native token associated with Binance.
3:07So, they do have their own token. If we
3:09click over here to market cap, this is
3:12going to be the largest cryptocurrencies
3:14in terms of the total amount invested in
3:17them. And we can see that list here. And
3:19then under the explore tab here, this is
3:21actually going to be lists of different
3:23cryptocurrencies. So, there's a top
3:25gainers section, new listings, most
3:27bought, staking assets, price drops,
3:30most sold, and most favorited. So, just
3:32for the heck of it, we'll click here on
3:34top gainers. And this is going to be
3:36tokens that have had the largest
3:37percentage increase in the last 24
3:40hours. You can also sort this by new
3:42listings, uh most bought, and then go
3:45through all of those different lists
3:47that are pre-populated. Now, just in
3:49case you are wondering, Binance.US
3:51supports the trading of about 190
3:53different tokens. So, you are going to
3:55have a very wide selection of assets
3:57available here for trading.
4:00But, we're going to scroll down now and
4:01keep on looking. We also have top movers
4:03listed there at the bottom. And then if
4:05you click over here to your portfolio
4:07tab, once you actually purchase
4:09cryptocurrencies in the app, you're
4:11going to see those listed here. And you
4:13have the option to deposit and withdraw
4:15in terms of funds from your bank
4:17account. And your cash balances are
4:19going to be listed below the cash
4:21balances section. Now, the next tab over
4:23here is going to be the markets tab.
4:25This is going to show you the favorites,
4:26which you can customize yourself. And
4:29then you can take a look at stablecoins
4:30and then various trading pairs related
4:33to Bitcoin and then US dollar trading
4:35pairs. This is very similar to the other
4:38section we just looked at of the explore
4:40section. But, you can use this to track
4:42cryptocurrency prices and get an idea on
4:45what's going on in the overall market.
4:47And then if you click on this orders
4:49button, this is going to show you your
4:50trading history as well as open orders.
4:53But, that's going to come into play when
4:54you actually start placing a trade here
4:56within the Binance app. The next section
4:59here is the earn section, which is going
5:01to be where you can learn about staking
5:03and their new boost feature. We're going
5:04to talk about these separately in a
5:06little bit, so I'm going to leave that
5:08be for now. And then you have the hub
5:10here at the bottom right, which gives
5:12you different buttons to access pretty
5:13much the same sections of the app you
5:15can look at elsewhere. But, then you
5:17also have this news feed at the bottom,
5:19which can be a great way to keep tabs on
5:21what's going on in the crypto market.
5:23And if you actually click on one of
5:25these articles, the cool thing is that
5:26it opens right here within the Binance
5:28app and it doesn't have to open up in a
5:30separate browser tab or anything like
5:32that. And real quick, while we're in
5:34this section, I also want to show you
5:36the tax center. So, when you do have to
5:38go ahead and find your information
5:40related to your transactions for tax
5:42reporting, you can go ahead and generate
5:44those reports here and get that
5:46information that you need for your tax
5:48reporting. So, what we're going to do
5:50now is click on this continue button on
5:52the home page, which is going to prompt
5:54us to link a bank account. And then
5:56we're going to click here on the payment
5:57method here being ACH, and that's going
6:00to bring us over to Plaid where we can
6:01automatically link our financial
6:03account. So, the benefit here is that
6:05this connection happens here in seconds
6:07and it allows for instant verification.
6:09That way you can deposit money
6:11immediately and start investing. So,
6:13we're going to click here on the
6:14continue button and then it's going to
6:16ask you for your phone number and then
6:18we're going to hit continue once again.
6:20After that, it's going to kick back a
6:21two-factor authentication code, which I
6:24can pull from my messages and then it's
6:26going to basically bring us right into
6:27Plaid. Now, if you haven't used Plaid
6:29yet, it might also prompt you to enter
6:31your bank login information instead of
6:33doing the phone number, uh but you're
6:35going to have one of two options there.
6:37And then from here, you're just going to
6:39select an account that you want to link
6:41to your Binance account from the list
6:43that populates here. And now since it's
6:45securely connecting the one account here
6:47to Binance, it shows us the processing
6:49screen. And unfortunately, I have a
6:51message here saying it failed to connect
6:53the account. I will try it one more time
6:55and hopefully it works. So, let's see
6:57what happens this time. Unfortunately,
6:59it's giving me a problem here with my
7:00bank account and I don't have an
7:01alternative, so we won't be able to
7:03continue with the bank linking process.
7:05But the good thing is I can still show
7:07you the majority of what you need to
7:08know in the app without actually funding
7:11the account. But you could also see if
7:13you have other accounts that might work
7:15here if you end up running into this
7:16issue yourself. So, let's talk about
7:18purchasing cryptocurrency using the
7:20Binance US app now. The first thing I
7:22want to do is actually click here on the
7:24main page for Bitcoin. That way we can
7:26take a look at some of the trading
7:27options here and charts and things like
7:29that. So, let's go ahead and explore
7:31this together now. The first thing
7:33you'll notice here is I toggled between
7:35light and advanced. So, if you're
7:37looking for a more advanced charting,
7:40you can select the advanced section here
7:42and you can change this to different
7:43time intervals. And if you scroll down,
7:46you can also get a view of the full
7:47order book here for Bitcoin trading. You
7:50can also see your trade history, or
7:52actually the full trade history here of
7:54uh everybody purchasing and uh selling
7:57Bitcoin. And then the info section here
7:59is going to just tell you about the
8:01particular asset, how Bitcoin works,
8:03etc. Uh but for now, what we're going to
8:05do is just change around the time
8:07intervals. And you can toggle on or off
8:10these different technical indicators
8:11here at the top if you're looking to add
8:14or remove different elements to the
8:16chart. Uh you can also put two fingers
8:18on the chart here to move the chart
8:20around and uh get different views. But
8:22for now, what we're going to do is
8:24select the light chart, and [snorts]
8:25that's just going to return us to a
8:27basic line chart view. So, with the
8:29light chart, it's just going to be a
8:30line price chart here. You can change
8:33the time horizons here at the bottom,
8:35but that's pretty much it. And then if
8:37you scroll down here, you can get some
8:38key statistics surrounding Bitcoin, uh
8:41what the price action has been in terms
8:43of the lows and the highs. You can see
8:45the market cap, daily volume,
8:47circulating supply, and then an
8:49additional news feed here at the bottom,
8:51which is going to be specifically
8:52related to Bitcoin or whatever
8:54cryptocurrency that you are looking at.
8:56Now, if you are ready to purchase it,
8:58you can click on this button here at the
9:00bottom. Or if you click on the X, you
9:02can just click on the buy button here on
9:04the home page, and then select from this
9:06very large list here of, as we said,
9:08about 190 different cryptocurrencies.
9:11So, we're going to select Bitcoin, and
9:13at this point, we're going to enter the
9:15dollar amount that we are looking to
9:16purchase. And one of the benefits to
9:18using Binance.US is that you can invest
9:21with $1 increments, so you don't need to
9:23have a ton of money here to get started
9:25with crypto investing. Now, as
9:27mentioned, I couldn't link my bank
9:29account for this tutorial, so I'm not
9:30going to be able to proceed here, but
9:32your next step would be choosing your
9:34payment method here from the ones
9:36listed, and then you would click on the
9:38continue button or the preview button,
9:40verify the transaction details, and then
9:43confirm that transaction. The next
9:45section of the app I want to show you is
9:47going to be the staking section, and you
9:49can click right here on the stake
9:50button, or you can click on earn here at
9:53the bottom right. And this is going to
9:54allow you to earn rewards by staking or
9:57locking up various tokens. Staking is
10:00basically a way to earn rewards by
10:02helping to run a blockchain network. And
10:04when you stake your crypto, you're
10:06basically locking up these coins to
10:08support the overall network. By doing
10:10this, you're helping the network to
10:11verify transactions, keep the network
10:13secure, and create new blocks. So, it's
10:16something that people often do when
10:18they're looking to earn a little extra
10:19money on their cryptocurrencies. In
10:21return, the network pays you rewards for
10:23doing this, and it's kind of similar to
10:25how you earn interest through a bank
10:27account. But just keep in mind, bank
10:28accounts have FDIC insurance, and this
10:31type of thing doesn't have insurance in
10:33place. So, with that said, guys, I do
10:35want to make sure you keep in mind that
10:37you have to look into the risks and
10:38benefits of any of these features like
10:40staking or the boost feature I'm going
10:42to show you here on your own, because
10:44this is definitely not a strategy
10:46recommendation or anything like that. I
10:48am merely showing you these different
10:49features here for demo purposes. That
10:52way you have a full idea of the scope of
10:54the app. But on this page here, you can
10:57see a list of all of the different
10:58tokens available for staking, and it's a
11:00list of about 20 different tokens. And
11:03that's quite a bit here compared to what
11:05you might find with other crypto
11:06exchanges. So, the Binance US app is
11:09pretty popular for those who are
11:11interested in staking cryptocurrencies.
11:13For example here, if we click on
11:15Ethereum, we can see that the rewards
11:17rate is currently 2.2%.
11:19The processing time is up to three
11:21business days, and then the bonding
11:23period is eight days with an unbonding
11:25period of nine days. That's going to be
11:27different depending on all these
11:29different tokens, and that is going to
11:31essentially be how long you need to lock
11:33up that cryptocurrency, but again, you
11:35want to look into the full details and
11:37learn more about this yourself before
11:38committing your digital assets to this
11:41type of thing. Now, similar to staking,
11:43the boost section of the app here is
11:44where you can earn crypto rewards in
11:46exchange for temporarily depositing your
11:49eligible assets. This is going to
11:51include campaigns here for smaller
11:53tokens, as well as the option to boost
11:55with Bitcoin, USDT, and USDC. But again,
11:59guys, you need to look into the benefits
12:01and risks associated with this on your
12:03own. I'm not familiar with the boost
12:05section of the app, and you do want to
12:07keep in mind that there is definitely
12:09exchange risk present with any
12:11cryptocurrency exchange, and keeping
12:13your tokens on exchange or potentially
12:16lending them out for this type of thing
12:17is going to add more risk. So, yes, you
12:20can potentially earn rewards or interest
12:23on this, but just keep in mind there is
12:25always going to be additional risk
12:26present when you use features like that.
12:29Now, the next thing I want to show you
12:30here is how to convert tokens in the
12:33app. So, we're going to click here on
12:34the home page, and you can see here
12:36there is a convert button, and this is
12:38where you can basically swap from any
12:40one token to another token without
12:42having to go into fiat in between, and
12:45this cuts down on the number of
12:47transactions. So, currently there's
12:49about 135 different tokens you can
12:51directly swap between, and you can click
12:54here on the from section to get a list
12:56of all of the different cryptos. Now,
12:58since I don't have anything here, it
12:59doesn't list anything currently. Um and
13:01then the two section, you can also get a
13:03list. Um and this will show us pretty
13:05much all of those supported, roughly 135
13:08tokens that you can swap into and out
13:11of. Uh and then you would just type in
13:12the dollar amount you're looking to
13:14swap, and you can convert from one token
13:16directly to another, uh without having
13:18to make a pit stop here in between a US
13:21dollar coin or potentially a fiat
13:23currency. And then let's say Say looking
13:25to sell a cryptocurrency, you're going
13:27to click here on that sell button next
13:29to buy, and I don't have anything listed
13:31here just because I wasn't able to
13:33actually make a crypto purchase, but if
13:35you did, you would see all of the tokens
13:37that you own listed here. You could then
13:39select that, process a sell transaction,
13:42and then that money would either go to
13:44your US dollar balance or to your
13:46stablecoin balance. And I'll just show
13:49you that once again, you would click
13:50here on the portfolio tab, and you would
13:52see your cash balances listed here. So,
13:55in this case, the stablecoin used is
13:57USDT or Tether, and the US dollar
14:00balance is going to be your fiat
14:01balance. So, if you're actually looking
14:03to get funds to go back to your bank
14:05account, you're going to want to have
14:06that be in your US dollar balance. And
14:09then if you're looking to cash out to
14:11your bank account, you're going to click
14:12here on the home button, and then you're
14:14going to click here all the way on the
14:15right here where it says transfer, and
14:17this is where you can either deposit
14:19cash, deposit crypto from another
14:21wallet, withdraw cash, or withdraw
14:24crypto, meaning send it out to a
14:26different wallet. So, you would simply
14:28click here on withdraw cash, and then
14:31you would enter the dollar amount you're
14:32looking to withdraw, select the payment
14:34method listed there, and then click on
14:36the preview and then continue button.
14:39And then real quick, just to show you
14:41that section, if we click here on
14:43transfer and then deposit crypto, this
14:45is where you would then be able to
14:47deposit cryptocurrencies from an
14:49external wallet address. So, if we type
14:51in Bitcoin, for example, this is going
14:54to bring us over to our Bitcoin wallet
14:56address. So, you would copy that, and
14:58then you would paste it in your uh
15:00cryptocurrency exchange or whatever
15:02wallet you're looking to send this over
15:04from, and then you can process a
15:06transfer like that and send over your
15:08cryptocurrencies. And you can also
15:10select the transfer button here and
15:12withdraw crypto if you have tokens in
15:14the Binance US app that you're looking
15:16to send to a hardware wallet, a
15:18different exchange, or anything like
15:21that. There you have it, guys. that's a
15:22quick start guide here to the Binance US
15:25app. I hope it helps you to get started
15:27and know about the different features.
15:29And if you have any questions, be sure
15:30to leave me a comment down below and
15:32I'll do my best to answer each one. If
15:34you're looking to learn more about
15:35different crypto trading platforms, you
15:37can check out my next video here ranking
15:39the top seven. Thanks for tuning in guys
15:42and I'll see you next time.

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