What Should Beginners Do First on Binance

Just registered a Binance account, opened the APP, and saw a bunch of features like Spot, Futures, Earn, C2C... and have absolutely no idea where to begin? Don't panic, everyone starts from zero. What you need to do right now is to follow this article step by step. After registering your account through the Binance official website, install the Binance official APP. Apple users can check the iOS installation guide to install it. Once installed, let's start walking through the process below.

Beginner Roadmap: Follow This Order

I have arranged the tasks that beginners need to do by priority. You just need to complete them step by step in this order:

Complete security settings (Most important!)
Complete KYC identity verification
Familiarize yourself with the APP interface
Learn basic knowledge
Make your first deposit
Make your first trade
Explore more features

Let's explain them one by one in detail below.

Step 1: Complete Security Settings

This is the most important thing to do after registration, bar none. Many beginners are in a hurry to trade and ignore security settings, resulting in their accounts being hacked and assets transferred away, which they will deeply regret.

Enable Google Authenticator

Download the Google Authenticator APP on your phone (Search and download from Google Play for Android, App Store for Apple)
Open the Binance APP → User Center → Security
Select "Authenticator App" → Click "Enable"
Scan the QR code as prompted
The most important step: Write down the setup key (a string of letters and numbers) displayed on the page on a piece of paper and keep it in a safe place
Enter the 6-digit verification code displayed on the Google Authenticator
Complete the binding

Why is this the most important? Because even if someone knows your password, they cannot log into your account without the dynamic verification code from your Google Authenticator.

Bind Phone Number

If you registered with an email, you now need to bind a phone number:

Security → Phone Verification → Click "Enable"
Select your country/region code
Enter your phone number
Enter the SMS verification code
Complete the binding

Set Up Anti-Phishing Code

Security → Anti-Phishing Code
Enter a word that is easy for you to remember (like "mycode123")
Once set up, every email Binance sends you will contain this word
In the future, if you receive a "Binance email" without this anti-phishing code, you will know it's fake

Set Up Withdrawal Whitelist (Optional but Recommended)

After enabling the withdrawal whitelist, your assets can only be withdrawn to pre-added addresses. Even if your account is hacked, funds cannot be transferred to unknown addresses.

Step 2: Complete KYC Identity Verification

KYC stands for Know Your Customer, which is real-name verification. Without completing KYC, you can basically do nothing.

KYC Verification Steps

Click "Identity Verification" in the Binance APP
Select your nationality
Select the type of document to use (ID card, passport, or driver's license)
Fill in your personal information: name, date of birth, residential address
Take a photo of the front and back of your document (ensure sufficient lighting, no glare)
Perform facial recognition (facial verification)
Submit and wait for review

KYC Verification Tips

Make sure all four corners are within the frame when taking photos of your document
Lighting should be even, without shadows
Take off glasses and hats during facial recognition
Follow the on-screen prompts during facial verification (blink, turn head, etc.)
The review is usually completed within a few minutes to a few hours

Step 3: Familiarize Yourself with the APP Interface

Once KYC is passed, don't rush to trade. Spend 10 minutes familiarizing yourself with the various functional areas of the APP.

Bottom Navigation Bar

Home: Market overview, trending coins, recommended content
Markets: Real-time prices and price changes of all coins
Trade: The portal for buying and selling coins
Earn: Various interest-bearing products
Profile: Account information, security settings, asset management

How to Read the Markets Page

Open the "Markets" tab
You will see columns of coins, with the current price and 24-hour change next to each coin
Green numbers indicate a price increase, while red indicates a decrease
Click on a coin to see the detailed candlestick chart and market depth

Favorites List

You can add coins you are interested in to your "Favorites" list for quick viewing:

Find a coin on the Markets page
Click the star icon ⭐ next to it
The coin will then appear in your Favorites list

Step 4: Learn Basic Knowledge

Before investing real money, you should at least understand the following basic concepts:

What are BTC and ETH

BTC (Bitcoin): The first and most famous cryptocurrency, known as "digital gold"
ETH (Ethereum): The second-largest cryptocurrency, supporting smart contracts, and the foundation of many decentralized applications

What is USDT

USDT is a stablecoin, where 1 USDT is approximately equal to 1 US dollar. Most trading on Binance is priced in USDT. You can think of USDT as the "US dollar" in the cryptocurrency world.

What is a Trading Pair

For example, BTC/USDT is a trading pair, meaning using USDT to buy and sell BTC. Buying means exchanging USDT for BTC, and selling means exchanging BTC back into USDT.

What are Spot and Futures

Spot Trading: Buying and selling coins directly; once bought, they are yours. Suitable for beginners.
Futures Trading: Allows adding leverage, can go long or short, very high risk. Not recommended for beginners.

Step 5: Make Your First Deposit

After understanding the basics, the next step is to deposit funds into Binance.

Method 1: C2C Buy Crypto (Most Recommended for Beginners)

C2C means direct buying and selling between users; you can use fiat currency to buy USDT:

Find the "Buy Crypto" or "P2P Trading" entrance on the APP homepage
Choose to buy USDT
Enter the amount you want to buy (beginners are advised to try a small amount first, like 10-50 USD)
Select a payment method (Alipay, WeChat, Bank Card)
Choose a seller with good reviews
Follow the prompts to pay the seller after placing the order
Click "Transferred, notify seller" after payment
Once the seller confirms receipt, the USDT will arrive in your account

Method 2: Deposit Existing Crypto

If you already have cryptocurrency on another platform, you can transfer it to Binance:

Click "Deposit" in the Binance APP
Select the coin you want to deposit
Select the corresponding network (chain)
Copy the deposit address given to you by Binance
Initiate a withdrawal on the other platform and paste this address
Wait for the arrival (time depends on network congestion)

Important Reminder: Always verify that the network (chain) matches when transferring crypto! For example, if you choose the ERC20 network, you must also choose ERC20 when withdrawing on the other platform. Choosing the wrong network may result in permanent loss of assets.

Step 6: Make Your First Trade

After successfully depositing funds, you can start your first trade. It is recommended for beginners to start with the simplest spot trading.

Buy Your First Coin

Click the "Trade" tab at the bottom
Select Spot trading
Choose a trading pair, such as BTC/USDT
Choose "Market" order to buy (a market order executes immediately at the current price, which is the easiest)
Enter the amount of USDT you want to spend
Confirm the purchase order
After the trade is executed, you will own BTC

Advice for Beginners' First Trade

Keep the amount small, test the waters first (e.g., 10-50 USDT)
Use market orders, do not use limit orders (limit orders require setting a price, which adds complexity for beginners)
Buy mainstream coins (BTC or ETH), avoid small altcoins
Do not use leverage, do not touch futures
Do not get anxious over short-term price fluctuations after buying

Step 7: Explore More Features

Having completed the first six steps, you are now a qualified Binance user. Next, you can gradually explore more features:

Limit Order Trading

Unlike the immediate execution of market orders, a limit order allows you to set a price you desire. For example, if BTC is currently at 65,000, you can set a limit buy order at 60,000, and it will automatically buy for you when BTC drops to 60,000.

Earn Products

Put your unused USDT or other coins into Earn products to earn interest:

Flexible Earn: Deposit and withdraw anytime, lower interest rate
Locked Earn: Lock for a period of time, higher interest rate
Launchpool: Stake tokens to farm new coins

Candlestick Chart Analysis

Learning to read candlestick charts is the foundation of advanced trading. The Binance APP provides very professional charting tools, including various technical indicators (MA, MACD, RSI, etc.).

Common Mistakes Made by Beginners

Not Setting Up Security Verification

It has been mentioned many times before, but it still needs emphasizing: you must enable Google Authenticator.

Investing All Your Money

Always only use money you can afford to lose to invest in cryptocurrency. Do not invest your living expenses, rent, or emergency funds.

Chasing Highs and Selling Lows

Buying when you see a coin's price go up, and panic selling when it drops. This is the most common mistake beginners make, and also the fastest way to lose money.

Touching Futures Trading

Beginners must never touch futures and leverage. 99% of beginners who trade futures lose money. Learn in the spot market for more than half a year first, and only consider it after you have a deep understanding of the market.

Trusting "Insider Information" from Others

"This coin will go up 10 times tomorrow" — just listen to such talk and don't take it seriously. No one can accurately predict the market.

Frequently Asked Questions

Can I trade without doing KYC after registration?

Basically no. Binance requires users to complete KYC before they can perform trading, depositing, and withdrawal operations. So complete KYC as soon as possible after registration.

How much is appropriate for my first purchase?

It is recommended that beginners deposit 10-100 USD for the first time just to familiarize themselves with the whole process. Once you understand the platform and the market, you can increase your investment based on your financial situation.

Are my coins safe on Binance after buying?

Binance is the world's largest exchange, and its security measures are very robust (with the SAFU fund to protect user assets). In the short term, it is safe to keep them on Binance. If you hold a large amount of assets and do not trade for a long time, you can consider transferring them to a hardware wallet.

What coins should a beginner buy?

It is recommended to start with BTC (Bitcoin) and ETH (Ethereum). These two are the cryptocurrencies with the largest market capitalization, longest history, and strongest consensus. Do not start by buying various small altcoins right away.

Is it guaranteed to make money trading crypto?

Not necessarily. The cryptocurrency market is extremely volatile; you might make money, or you might lose money. Invest cautiously, only invest with spare money, and be mentally prepared for losses.