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How to buy xrp on binance with eth

how to buy xrp on binance with eth

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How to buy xrp on binance with eth

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Binance is the most popular cryptocurrency exchange on the market, but it always had one key weakness — not supporting fiat currency trading. Now, Binance is making steps to make it possible for its customers to purchase crypto with fiat currency. Recently, the firm partnered with payment processor Simplex to provide cryptocurrency purchases with a credit or debit card.

Head over to Binance. Select the cryptocurrency you wish to purchase and enter your order amount. The second bar will display the total amount that you will be charged, with fees included. If you think these fees are too high, a cheaper option is buying cryptocurrency by funding your Kraken or Bitstamp account with a bank transfer.

Now, Binance will ask you to confirm your order. Please read the short disclaimer to understand the purchasing process better. From here, we will finalize our order through Simplex. You will have to provide some of your personal details to Simplex in order to go through with the purchase. Once you fill out the necessary fields, agree to the terms and conditions and privacy policy, you can proceed.

Simplex will now ask us to verify our phone number through a 4-digit code and e-mail address through a verification e-mail. Enter the ticker BTC for Bitcoin, as for the cryptocurrency you wish to deposit and select it from the drop-down menu. The website will provide you with a deposit address for the cryptocurrency you selected. The address will be a string of numbers and letters both lowercase and uppercase.

Copy the address in its entirety and go to your wallet of choice. Send the amount you wish to deposit to the address you copied. Tip 1: For your first deposit, it is recommended to start with a small amount of BTC just to be safe. Once the small amount reaches your Binance account, you can proceed to deposit the amount you would actually like to use for trading. Tip 2: Depositing funds from one exchange to another can sometimes be limited by restrictions. We strongly advise you to deposit directly from your wallet.

If you would only like to see the coins which have a balance of over 0. If your deposit has already been processed, the coin and amount will appear on the list. If you have multiple coins, you can use the search bar. After clicking on the trading pair, a price chart will appear in the center. You can place your buy order under the chart. If you want to buy ETH when it reaches a specific price, use the Limit order.

Tip 2: If you deposited a large amount of coins, try not to purchase your ETH all at once — instead, consider buying it at different price levels. This strategy is called unit cost averaging. The order should be executed almost instantly and the ETH will be added to your balance soon. As you can see, buying Ethereum on Binance is a pretty straightforward process.

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