Learn how to buy Frax (FRAX) on the Binance platform
No doubt one of the world’s leading trading platforms today is Binance.
Therefore, the first thing you should to do if you wish to start operating on it is to discover ways to buy Frax (FRAX).
Stay on this article and you will see everything you need to know about buying crypto on Binance.
----
Figure out how to register on Binance
There is only way to start trading within Binance: registering to it.
Simply follow each of the steps listed below.
Go to the Binance homepage and press on the "Register" button.
You may log in directly by pressing here.
Right now press the "Register with a phone or email" button.
The Binance platform is totally compatible with Apple mobile devices as well.
In this guide, we’ll will describe how to do this with an e-mail.
- From the drop-down list of countries, choose the one you’re living in.
- The next step is picking a safety password. This is crucial since it’s all about your money’s safety, so you have to define a really strong one
- In this step you must accept "Terms of Service" and, if you want to receive information, updates and news from Binance in your email address, check in the corresponding box
Binance will automatically send a one-time-only activation password (NB: this is NOT the password you’ve created) that you’ll type it in the corresponding line, then press "Send"
And that’s all! You are now and authorized subscriber of Binance.
It would be a nice idea to browse the different options of the Binance platform and become familiar with them.
This way you canyou will be able to start trading Frax (FRAX) quickly.
To gain access to these options, you have to fulfill the ID verification.
Please, take into account that it will be only after you have fulfilled this safety measure that you’ll be authorized to start operating with Frax (FRAX).
However, you don’t need to worry, continue reading the next section to learn how to do it.
Verify your account to get started trading
To become a certified user you have to complete the steps described below:
From the user profile menu, pick "Security"
You may also click the "Verify" button on the upper part of the screen
Look for the option "Identification" on the left part of the navigator window.
Choose your Country of Residence.
It displays you 3 verification levels: the current one, the Verified, and the Verified Plus.
Press the "Start now" button under the "Verified" label, since this is the beginning level.
In this step, some personal information wil be required:
- Nationality.
- First Name and Surname.
- Second name and date of birth.
- Residence address (exact).
- Second name and date of birth.
- Second name and birth date.
Here, the Binance platform will require you to use a legal document for identity verification.
Use your passport, ID card or even your driver’s license to complete this step.
In the next step, you will be asked to take a selfie, according to the platform’s requirements.
When you have completed the platform’s guidelines, you will have to wait a while for the verification to be performed on your account.
As soon as your request has been accepted, you’ll be notified via e-mail, just be patient.
Congratulations! As soon as you’ve got the confirmation you’re officially licensed to trade Frax (FRAX). See the guidelines that follow.
Purchasing Frax (FRAX) on Binance
Now that you have registered on the Binance platform and got your account approved, you are able to start trading.
Take a time to figure out how to convert money into Frax (FRAX).
It is time to verify your identity using a legal document.
Use your ID card, passport or even your driver’s license to complete this step.
Now the platform will ask you to take a selfie under certain conditions.
The final step will be made by the Binance platform: a certification process that will take only a short time.
Now wait patiently, Binance will let you know via e-mail as soon as your application has been approved.
Congrats! Now you’re officially enabled to trade Frax (FRAX). The following guidelines will be helpful.
Learn to purchase Frax (FRAX) on Binance
Starting your Frax (FRAX) trading adventure has never been so simple, right?.
Understanding how to invest your money in Frax (FRAX) is not so difficult.
Some steps would probably have optional paths
To know which alternatives you have when buying, see the "Buy cryptos" menu on the Binance main page.
You must, of course, do that after you’ve signed into your account
Hover your mouse on this key and a list of buying alternatives will deploy.
It is time to verify your identity with a legal document.
You can do this by using your ID card, passport, or driver’s license.
Now the system will require you to take a selfie following certain instructions.
After you have completed the platform’s requirements, you’ll have to wait a while for the confirmation to be applied to your account.
As soon as your application has been accepted, you’ll be informed via email, just be patient.
The following instructions will guide you through the Frax (FRAX) purchasing process. As soon as you’ve got the confirmation e-mail, you have become a Binance authorized Frax (FRAX) trader.
Learn to purchase Frax (FRAX) on Binance
Now that you are subscribed to the Binance platform and have your account verified, you can begin trading.
Take a time to know how to make a purchase of Frax (FRAX).
Some processes might have alternative paths
Look for the "Buy cryptos" menu on the Binance main page to know which options are available to you when making a purchase.
Needless to say you must be logged into your account to be able to do this
See all the different purchase options just by placing your mouse over this button.
Make use of your credit or debit card for buying cryptocurrencies
The first thing you will do to purchase the Frax (FRAX) of your choice using a credit card, is to select this method from the "Buy Cryptos" drop-down list.
Continue reading for detailed guidelines:
Currency to be used and how much you will invest should be defined here.
In the next field you must choose the Frax (FRAX) you intend to get
The number of Frax (FRAX) you will get will depend upon the amount of USD you have previously stated. The Binance platform will automatically display it.
After that, just observe these instructions:
Currency to be used and amount of the investment should be specified in the next box.
The the Frax (FRAX) you’d like to purchase must be indicated in the second field
Once you do so, the system will automatically display the quantity of Frax (FRAX) you’ll receive, considering the amount of USD you’ve just specified.
Click "Continue".
To use your credit card as a payment method, pick in the "Visa/Mastercard" box the option "Add card".
Indicate your credit card data and press "Next".
The credit card’s associated address must be stated next. Try not to mistype a single character, since you’ll need to write it exactly as it is, otherwise the card won’t be accepted. Then press "Add card".
Press "Continue" after you check your card has been successfully added to your account as a new payment method.
Next, all the relevant details of the transaction will be presented: the sum you’ll pay and the corresponding currency, and of course, the cryptos you are going to get.
It will also show you the commission will be charged for the purchase.
Within the next 60 seconds click on "Confirm", from then on the order will expire automatically.
The Binance platform will now reroute you to the credit card issuing bank. Follow the instructions in the same way you would normally make a payment with your card.
Your recently bought Frax (FRAX) will be available in your Binance e-wallet (referred to as the «Spot Wallet») once the banking process is complete
See how easy is how to purchase Frax (FRAX) via Binance P2P
A different way to get crypto is to trade it
with another user. To do this, the first step is to define which payment method you want to use.
The platform will now show you the synthesis of the buying order you are creating. The amount your card will be charged with the currency you’ve selected, and the Frax (FRAX) you will receive.
It will also let you know the commission will be charged for the operation.
At this point you have 1 minute to press "Confirm", otherwise the order will automatically expire.
The next step needs to be done on the credit card bank system. Then you will complete a normal on-line payment with your credit card.
Once the banking procedure has been completed, you will have your purchased Frax (FRAX) in your Binance e-wallet (called the «Spot Wallet»)
See how easy is how to buy Frax (FRAX) through Binance P2P
This means «Person To Person», i.e.: exchanging Frax (FRAX)
with another Binance subscriber. Payment method is the first setting you will specify.
- Go to your account and select "Security".
- Locate the "Payment" option in the menu you’ll see from the menu on the left and select it.
- Click the "Add a Payment Method" button and follow the platform directions.
When the new payment method has been configured in your profile, locate the "Buy Crypto" menu in the upper bar of the navigator, click the "Trading P2P" option and follow the steps described below:
- On the upper bar of the "P2P Account" tab, select "Buy"
- Here you can pick the Frax (FRAX) you’re interested in, among all those available for purchase through P2P trading. We will use «USDT» in this example.It is important to note that when you purchase one of these cryptocurrencies in P2P trading, you will be able to exchange it for any of the foreign currencies that operate on the Binance platform.
- Choose the local currency you want to use from the drop-down menu under the "Fiat" column, for example, «VES».
- In the "Amount" box, enter the sum in VES you wish to invest.
- You will see a register of dealers’ ads as soon as you select the payment method.
- From the list displayed list, you may choose any of the sellers. Although it is recommendable to choose one with the «Verified» mark and better if a high percentage of completed sales is displayed.
- Click on "Buy USDT"
- Enter the amount in VES you would want to pay
- Again, click on "Buy USDT"
- A purchase order has been opened and the seller and you will be able to contact each other for further details, in case you need it. You have a limited time to make the payment, otherwise the order will be terminated by the platform (something bad for your rating as a buyer). Once you paid, press "Transferred, Next" and then press "Confirm".
Learn how to transfer your Frax (FRAX) to the Spot Wallet
When you have completed a payment to the seller, they will be able to release the Frax (FRAX), just by confirming payment reception.
The default place where Frax (FRAX) are added to is your Binance wallet.
But in order for you to get any other Frax (FRAX), you must move them to your Spot Wallet.
To do this, all you have to do is press "Transfer to Spot Wallet" immediately after the buying order has been completed.
Should you forget to do this right after the purchase, there’s nothing to worry about: you’ll always be able to do it at any moment.
Ways to transfer your Frax (FRAX) to the Spot Wallet
After you have made a payment to the trader, they will be able to release the Frax (FRAX), by confirming payment reception.
So, they will instantly be added to your account balance.
Note that you must send them to your Spot Wallet in order for you to get another cryptocurrency.
That’s quite simple: just click on "Transfer to Spot Wallet" once the purchase order is completed.
This Frax (FRAX) internal movement can be performed anytime later.
- Select "Wallet Funds" from the "Wallet" drop-down menu.
- Next press "Transfer" option at the top right.
- Change the «From» and «To» options on the pop-up window to:
- From: "Funds"
- To: "Fiat and Spot"
- For The purpose of this article, we use «USDT» as an example, but you’ll obviously select the currency you have
- Input the amount you are transferring for the Exchange and click "Confirm".
Perfect! Now you have money available to purchase any of the huge selection of Frax (FRAX) in the Binance platform.
See how simple is to purchase any cryptocurrency from the Binance platform:
- Select the "Trading" option in the top upper section.
- Press "Convert" from the list.
- Fill in the box the amount of «USDT» you want to spend.
- Now mark the crypto you’re interested in.
- Click on "Preview conversion".
- Confirm the operation and that’s it. You will have the funds of the chosen cryptocurrency in your Spot Wallet.
With these money already in your Spot Wallet, nothing keeps you from trading any crypto you believe will be profitable.
Buy any crypto from Binance just following the steps described next:
- Locate the "Trading" menu in the top top panel.
- Pick "Convert" from the list.
- Fill in the box the sum of «USDT» you wish to spend.
- Now indicate the crypto you’re about to purchase.
- Click on "Preview conversion".
- Validate the transaction and that’s all. You will have the amount of the selected cryptocurrency in your Spot Wallet.
This article have surely pictured you a detailed vision of what Binance is and how you can trade Frax (FRAX) on it.
Don’t wait any more and start earning an extra income.