In the world today, digital currencies have taken over. It is more like having money without carrying cash everywhere you go.
You can sit at home, hold a million dollars in your phone using an exchange or cryptocurrency wallet such as binance account.
Binance is the world leading cryptocurrency exchange. It is a platform where users sell, buy and trade cryptocurrencies of over 500+ coins including most common such as Bitcoin, Ethereum, Dodge, USDT, BNB and more.
Creating a binance account
creating a binance account will aid you in dealing with cryptocurrency of different coins. You only need your mobile phone or PC to get started, then of course your bank card to deposit.
Below are steps on how to create a binance account.
- 1. Visit binance website or app and click on Register
This link is a the top of the page
- 2. Input your phone number or email address
This is what you will use to register, you can choose to use either phone number or email address to register. In case you are given a referral code by someone you know. you can input it there, although this is optional.
- 3. Verify your phone number or email address
After inputing your email address or phone number, you will need to verify it. This verification is to confirm that you are the owner of that phone number or email address.
After verification ,you can now log into your binance account. Note that this is just the initial verification. There will be a second verification that enables you send crypto.
This first verification will enable you receive crypto but not send or trade.
Different ways to buy cryptocurrency on binance
You need to do the second verification known as KYC or Know Your customer before you can be able to buy or send cryptocurrency. This is just for security reasons so binance can get record of your account.
Basically, there are three ways you can buy cryptocurrency on binance. They are:-
- Credit card, MasterCard or debit card
- Deposit funds into your spot wallet
- P2p (peer-to-peer)
I will be explaining each of them shortly.
- Credit card, MasterCard or debit card or visa card
You can use your card to purchase cryptocurrency directly from your bank account. This can be done using the digits on your ATM card front and back with OTP code given to you on your phone number or email.
You can as well save your card details there so you be able to buy cryptocurrency automatically with one click.
Do not worry about your card details because binance is a well knowm worldwide company and it is 100% secured.
- Deposit into your spot wallet
you can send your wallet address to someone, tell them to send you specific amount of cryptocurrency then pay me after they have sent it
- P2P
This is just a fellow binance user selling his or her cryptocurrency to you at a given rate.
binance will keep the cryptocurrency. When you successful transfer your money to the user and have also confirmed that you received the cryptocurrency. then binance will forward the cryptocurrency to your wallet. as easy as that.
In this article, I will be focusing on how you can create an account and verify it using your NIN (National identification number).
Firstly, there are two verification processes listed below. You need to complete the two processes to be fully verified.
These processes are:-
- Email verification
- Account Identity verification
let’s talk about the email Verification.
Email verification
When creating an account with binance, make sure you use a valid email address.
Why?
This is because after creating a binance account, you need to verify your email address, to ensure you are the owner of that email.
After creating an account as shown in the image below,
Go to your email address, check the inbox and you will see a message from Binance telling you to confirm your email address by inputting a number given to you.
Use that 6-digit code to confirm your email address.
Account Identity Verification
This is the main focus of this article.
But before I proceed,
Now there are a few ways you can verify your binance account. These documents are:-
- Government issued card
- Passport
- Drivers license
You can use any of these three documents to verify your binance account, buy in this article, we will be concentrating on the first method.
National ID card or NIN (national identification number) is a government issued card so can there be used to verify your binance account.
Verifying your binance account using NIN (National identification number) or National Identity card
You can verify your account using either the plastic card or the laminated paper.
Features that make your government issued card VALID
- Firstly, it must be a government issued card
- The document must be original andnlt edited using any software
- The details on your card must be clear and readable
- The document should be coloured and authentic.
How to use National ID card or NIMC (National identification number) to verify your binance account.
Follow the steps below:-
- Log into your account either using a browser or through the binance app on play store
- Click on “Verify”
- You will be asked to input your personal information. Make sure the information you provide corresponds to the details on your ID card or NIN card
- Choose “Government issued card”
- You will be asked to snap the front and back views of your card. Make sure your card contains your face picture.
- You will also be asked to take a selfie ,to capture your identity
Frequently asked questions (FAQ)
I won’t end this article without having a subheading for frequently asked questions. Definitely you will have one or two questions from here.
Why does binance need us to verify our account?
Verification of your binance account confirms your real identity. With the way scam are rampant now, binance wants to have a data of all it’s verified users.
What are the advantages of verifying your binance account
Without verifying your account, you will be limited.
These limitations include inability to buy or sell cryptocurrency, inability to deposit cryptocurrency, although you will still be able to receive cryptocurrency.
Conclusion
There are many cryptocurrency exchanges in the world today. Binance is one of the best, if not the best. Users can make transactions from various countries in the world, quickly and easily.
Make sure you protect your account to prevent it from being hacked,.and your funds stolen.
Note that you can use either your browser or your binance app which can be downloaded from Google play store or Apple store.