I'm glad you have decided to take the bold step to trade, hence your need for knowledge on how to deposit and get into the world of trading.
I believe the most difficult and very first step which you have passed already, is the awakening. the review and acceptance of your new information; your new information on cryptocurrencies, your realization of the new world order, your ability to unlearn and relearn the modern currency, and more importantly, your willingness to be a part of the number. I celebrate you, my friend.
While some cryptocurrencies, including Bitcoin, are available for purchase in different currencies, others require that you pay with bitcoins or some other type of cryptocurrency.
To get you started with a purchase or deposit, you need to buy cryptocurrencies. This implies that you’ll need a “wallet,” which is an online app that can hold your currency. You create an account on an exchange, in this case, Binance and then you can transfer real money [AED] to buy cryptocurrencies such as Bitcoin or Ethereum, depending on your pick.
Binance is a safe, easy-to-use cryptocurrency exchange for many reasons unique to its user, however, one of the major reasons for its recommendation is its very low trading fees starting from 0.10% compared to other exchanges. As a cryptocurrency exchange with low trading fees and hundreds of supported cryptocurrencies, it is no wonder Binance attracts a staggering number of users from all over the world.
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So, do you have an account with Binance?
I'm guessing you don't have a Binance account yet, so, I have provided some easy steps below for a smooth ride. By the way, you can open a Binance account with a 20+25% fee discount.
- To open an account and enjoy the discount, kindly go to Binance’s registration page.
- Fill out the registration form while you enter your email address and password. Ensure to use a password with at least 8 characters as well as strings, upper case letters, and numbers for security strength.
- Once done with creating an account, an email that contains the verification code will be sent to your email address.
- Enter the verification code to verify your email address.
- Proceed to set up 2FA [2 Factor Authentication] to strengthen your password for your Binance account
Deposit your AED in Binance
Binance offers a variety of Fiat Enabled Methods and allows users to choose the appropriate channels based on their currencies or regions.
I'm glad to let you know that Dirham is a fiat currency, and its conversion factor has 6 significant digits. By the way, Fiat currency is a legal tender that derives its value from its issuing government instead of a physical commodity.
Please follow the steps below to deposit your AED in Binance exchange.
- Once logged into your Binance account, Select Wallet, and click on Fiat and Spot from the drop-down menu.
- Click on the Deposit icon.
- Select the Fiat tab.
- In case you missed out on this earlier, complete your identity verification by clicking on Verify Now while following the instructions.
- Select the AED currency and your payment method. Let me remind you that Binance supports buying with a cash balance, Credit cards, Debit cards, and Bank transfers
- Enter the required details while you follow the prompts.
If you have carried out these steps carefully, I can tell you categorically that you're now part of the new financial system.
Congratulations once again, my friend!
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