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 How to buy btc in binance

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bananapie2017
post May 12 2021, 10:55 AM

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may i know why buying with card the price is higher than the market price?
lch78
post May 12 2021, 11:30 AM

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QUOTE(Red_rustyjelly @ May 12 2021, 10:52 AM)
transfer to BTC. then transfer to Luno BTC?

will it stay better rate?
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Use LTC or XRP. Faster and cheaper gas fee.

Luno rates are higher across the board now.
hustlerism
post May 12 2021, 08:40 PM

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Can someone guide me on how to buy crypto in binance?

My account just got verified today.

Still new to this.


ironman16
post May 12 2021, 08:45 PM

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QUOTE(hustlerism @ May 12 2021, 08:40 PM)
Can someone guide me on how to buy crypto in binance?

My account just got verified today.

Still new to this.
*
Buy stable coin first (usdt, busd,.....)
After that do ur home work.
Go market find the coin u wan,
After this pay with the coin u got.

Thats I know, I oso newbie 😁
hustlerism
post May 12 2021, 08:51 PM

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QUOTE(ironman16 @ May 12 2021, 08:45 PM)
Buy stable coin first (usdt, busd,.....)
After that do ur home work.
Go market find the coin u wan,
After this pay with the coin u got.

Thats I know, I oso newbie 😁
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Buy stable coin using what payment method?
ironman16
post May 12 2021, 09:41 PM

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QUOTE(hustlerism @ May 12 2021, 08:51 PM)
Buy stable coin using what payment method?
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i use p2p to purchase.
after confirm , i pay with my banking acc.
use CC punya i dun know..... whistling.gif

P2p:
select which coin u want>select amount u wan, select Fiat : MYR > hit search.

system will display the seller that match ur amount, normally i choose seller with completion at least 98 or 99%.
after this follow instruction to purchase...

easy, normally it take a few second to one min send the coin in my acc after i finish transfer the money cool2.gif

This post has been edited by ironman16: May 12 2021, 09:45 PM
hustlerism
post May 12 2021, 11:09 PM

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QUOTE(ironman16 @ May 12 2021, 09:41 PM)
i use p2p to purchase.
after confirm , i pay with my banking acc.
use CC punya i dun know..... whistling.gif

P2p:
select which coin u want>select amount u wan, select Fiat : MYR > hit search.

system will display the seller that match ur amount, normally i choose seller with completion at least 98 or 99%.
after this follow instruction to purchase...

easy, normally it take a few second to one min send the coin in my acc after i finish transfer the money cool2.gif
*
Alright got it. So after buying, meaning our crypto is being stored in Binance wallet?
ironman16
post May 13 2021, 12:58 AM

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QUOTE(hustlerism @ May 12 2021, 11:09 PM)
Alright got it. So after buying, meaning our crypto is being stored in Binance wallet?
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Can say like that.

Normally I buy stable coin (usdt, busd,....) first.
After that start decide which coin /altcoin to buy.

All the best.
PikachuPikachu
post May 23 2021, 03:30 AM

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hi, how can i find out what’s my average buying price for my coins? Any profit/loss details in binance app?
brainnneeddd
post May 24 2021, 03:14 AM

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Hello! I'm new to cryptocurrency and binance and luno. My aim is to get stable coin(USDT/BUSD) at lowest rate/fee, to buy BTC in binance. I got two options:

1. Use P2P. I pay the price of ~RM4.35. Let's say I buy using RM100, I get 22.99$

2. Use Malaysian Debit card. I key in USD 24.15(RM100 at the time). I get 23.30$ USDT after ~2% fee and USD to USDT conversion.

Overall option 2 seems like better deal. However after reading here I heard there's more fee than the 2%. Is that true and what are the extra fees and where are they charged?

Also, is buying stable coin then BTC in Binance or buying BTC straight in Luno more worth it?

This post has been edited by brainnneeddd: May 24 2021, 03:15 AM
ktek
post May 24 2021, 06:44 AM

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QUOTE(brainnneeddd @ May 24 2021, 03:14 AM)
Hello! I'm new to cryptocurrency and binance and luno. My aim is to get stable coin(USDT/BUSD) at lowest rate/fee, to buy BTC in binance. I got two options:

1. Use P2P. I pay the price of ~RM4.35. Let's say I buy using RM100, I get 22.99$

2. Use Malaysian Debit card. I key in USD 24.15(RM100 at the time). I get 23.30$ USDT after ~2% fee and USD to USDT conversion.

Overall option 2 seems like better deal. However after reading here I heard there's more fee than the 2%. Is that true and what are the extra fees and where are they charged?

Also, is buying stable coin then BTC in Binance or buying BTC straight in Luno more worth it?
*
sir u buy half using p2p. another half use lun0
after that tell ur experience here

i dont have card so p2p is the only way~ doesnt lose becos earlier rate below 4.1
thecurious
post May 26 2021, 03:57 PM

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Is KYC required if want to receive coins from outside binance?
Jnzw
post Jun 1 2021, 09:13 PM

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QUOTE(brainnneeddd @ May 24 2021, 03:14 AM)
Hello! I'm new to cryptocurrency and binance and luno. My aim is to get stable coin(USDT/BUSD) at lowest rate/fee, to buy BTC in binance. I got two options:

1. Use P2P. I pay the price of ~RM4.35. Let's say I buy using RM100, I get 22.99$

2. Use Malaysian Debit card. I key in USD 24.15(RM100 at the time). I get 23.30$ USDT after ~2% fee and USD to USDT conversion.

Overall option 2 seems like better deal. However after reading here I heard there's more fee than the 2%. Is that true and what are the extra fees and where are they charged?

Also, is buying stable coin then BTC in Binance or buying BTC straight in Luno more worth it?
*
Hey! IMO P2P is the easiest way to start purchasing crypto on Binance. The only ‘fees’ should be the difference that the vendors sell the tokens vs the going market rate, which is generally approx 2% above the market rate. Binance doesn’t charge a fee for this.

You could use CC and if I’m not mistaken that would attract a fee of 3.5% from Binance, a dynamic currency conversion fee of 0.8-1% since you would be effective be purchasing foreign currency (i.e. USD) with your credit card and it would all be at a potentially higher foreign exchange rate. Additionally, i would imagine that there would be a paper trail of your account purchasing cryptocurrencies, which might attract questions from the bank.

You could deposit money and purchase it via Luno before transferring it to Binance. But you would have to take into account the spread as Luno has less liquidity, which more often than not means that you’ll be purchasing it at a much higher price. After that you have to factor in the transfer fee which fluctuates based on how busy the blockchain network is.

To make things easier I’ve written a short post on how to use P2P on Binance (link: https://medium.com/@jnzw/how-to-deposit-mon...ia-ff14cbd97922 )
Jnzw
post Jun 1 2021, 09:15 PM

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QUOTE(thecurious @ May 26 2021, 03:57 PM)
Is KYC required if want to receive coins from outside binance?
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Don’t recall there being any. Only KYC should be at the point of registration, if I’m not mistaken
Jnzw
post Jun 1 2021, 09:18 PM

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QUOTE(PikachuPikachu @ May 23 2021, 03:30 AM)
hi, how can i find out what’s my average buying price for my coins? Any profit/loss details in binance app?
*
Don’t believe there is any. An alternative would be to download a portfolio tracker like Blockfolio which is able to sync with your Binance account. Either that or you could go old school by logging in all your trades with an excel spreadsheet

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