What to Do First After Registering on Binance

18 min read 2026-03-30 Quick Start

Just finished registering your Binance account and can barely wait to buy some Bitcoin? Hold on a moment — before you put any real money on the line, there are several important things you absolutely must take care of first. Taking the time to build a solid foundation will save you from a lot of potential headaches down the road. You can follow along with this guide while operating on the Binance official website, or use the Binance official app on your phone. Apple users should first check the iOS installation guide to get the app installed.

Step One: Complete Your Security Settings

This is hands-down the most important step — bar none. Your Binance account will eventually hold real money, so security needs to be treated as the absolute top priority.

Bind Your Phone Number

If you registered with an email address, bind your phone number as soon as possible:

Navigate to the "Security Settings" page
Find "Phone Verification"
Enter your phone number
Complete the SMS verification

Set Up Google Authenticator

Many beginners skip this step, but it is genuinely critical:

Download the Google Authenticator app on your phone
In your Binance security settings, tap "Google Authentication"
Scan the QR code displayed on the screen
Crucial: Write down the 16-character backup key and store it in a safe place
Enter the verification code shown in Google Authenticator to complete the binding

Set Up an Anti-Phishing Code

The anti-phishing code is a custom text string that you define. Every legitimate email from Binance will include this string. If you receive an email claiming to be from Binance that does not contain your anti-phishing code, you know immediately it is fake.

How to set it up: Security Settings → Anti-Phishing Code → Enter a memorable text string → Save

Check Your Login Devices

In the security settings, you can view all devices that have logged into your account. If you see any devices you do not recognize, delete them immediately and change your password.

Step Two: Complete KYC Identity Verification

KYC stands for "Know Your Customer" and refers to identity verification. Without completing it, many features will be unavailable to you:

Fiat currency deposits and withdrawals require KYC
Large transactions require KYC
Certain trading pairs may require KYC

Verification process:

Go to the "Identity Verification" page
Select your nationality
Upload your identification document (national ID card or passport)
Complete the facial recognition step
Wait for review (typically takes anywhere from a few minutes to a few hours)

It is recommended to complete verification right after registration, because review times can sometimes be slower than expected. Getting it done early means you will not be stuck waiting when you need it most.

Step Three: Familiarize Yourself with Binance's Basic Features

Before diving into trading, spend some time getting to know the different sections of the platform.

Home / Market

This is where you see real-time prices and percentage changes for all available cryptocurrencies. Start by following a few major coins like Bitcoin (BTC) and Ethereum (ETH) to get a feel for how the market moves.

Trading Page

This is where you will eventually buy and sell cryptocurrency. There is no need to rush into making trades — just take a look at the interface layout:

Candlestick chart: Shows price movements over time
Buy/Sell: The order placement area
Order book: Currently pending buy and sell orders
Recent trades: Transactions that just took place

Wallet Page

This is where all your assets are displayed. Binance has several types of wallets:

Spot wallet: Assets used for spot trading
Funding wallet: Assets used for fiat transactions and earn products
Futures wallet: Assets used for futures trading (beginners should steer clear of this)

Fiat Trading (C2C/P2P)

This is the gateway for purchasing cryptocurrency using traditional fiat currencies. It supports various payment methods including bank transfers and popular payment apps.

Step Four: Learn the Basic Concepts

Before investing any money, make sure you understand at least these fundamental concepts:

What Is Spot Trading

Spot trading works much like buying and selling stocks — you exchange one asset for another. For example, using USDT to purchase BTC is a spot trade. Once you buy it, the asset belongs to you and you can hold it for as long as you want.

What Is USDT

USDT (Tether) is a stablecoin where 1 USDT is pegged to approximately 1 US dollar. Most cryptocurrency trading pairs use USDT as the quote currency. Think of USDT as the "dollar" of the crypto exchange world.

What Is Futures Trading

Futures trading uses leverage, which can amplify both your gains and your losses. Beginners should absolutely stay away from futures trading. Start with spot trading and build your knowledge from there.

What Are Deposits and Withdrawals

Deposit: Transferring cryptocurrency from an external wallet or exchange into your Binance account
Withdrawal: Sending cryptocurrency from your Binance account to an external address

What Are Trading Fees

Every trade incurs a small fee. Binance charges a 0.1% fee for spot trading, which is among the lowest in the industry. Holding BNB (Binance Coin) can further reduce your trading fees.

Step Five: Start Small

Once you understand the basics, you are ready for your first trade. However, keep these important points in mind:

Invest Only a Small Amount at First

Do not put a large sum of money into your first cryptocurrency purchase. Start with something modest — the equivalent of 10 to 50 dollars — just to experience the entire workflow: depositing funds, buying, selling, and withdrawing. Walk through the complete process before considering larger investments.

What to Buy

Beginners should stick to major cryptocurrencies:

Bitcoin (BTC): The largest and most stable cryptocurrency by market capitalization
Ethereum (ETH): The second-largest cryptocurrency with strong technological foundations

Do not jump into obscure altcoins you have never heard of — the risk is extremely high for tokens without established track records.

How to Buy

The simplest approach is through fiat trading (P2P/C2C):

Tap "Buy Crypto"
Select the cryptocurrency you want to purchase
Enter the amount you wish to spend
Choose your payment method
Find a suitable merchant and place your order
Make the payment using the merchant's provided payment details
After paying, tap "I've Paid"
Wait for the merchant to release the cryptocurrency to your account

Common Mistakes Beginners Make

Buying High and Selling Low

Seeing a coin surge and immediately buying in, then panic-selling when it drops. This is the most common beginner mistake, and the result is almost always buying at the top and selling at the bottom.

Trading Futures Too Early

Futures leverage can multiply your capital, but it can also wipe out your entire investment in minutes. Beginners have no business trading futures until they have significant experience with spot trading.

Skipping Security Setup

Finding security settings too bothersome and skipping them entirely, only to suffer devastating losses when the account gets hacked. Security must always come first.

Investing Everything You Have

The money you invest in cryptocurrency should be money you can afford to lose completely without it affecting your daily life. Never borrow money to invest, and never use funds earmarked for essential living expenses.

Security Reminder

As a beginner, engrave these rules into your mind:

Only use the Binance official website and the official app — stay away from copycat websites
Do not believe any promises of "guaranteed profits" — no investment is risk-free
Never share your Binance password or verification codes with anyone, under any circumstances
Be extremely cautious of "investment gurus" and "trading signal groups" on social media
Investing carries risk — only invest amounts you can afford to lose

Once you have completed all the preparation steps above, you are ready to officially begin your cryptocurrency journey. Make sure to log into the Binance official app as well — the mobile interface makes it easy to check market prices and manage your assets anytime, anywhere.