How do I buy ETH (Ether) on binance? Is it Safe to Buy Ethers through Binance?
As you may know, Binance is the largest crypto -to-crypto exchange. It’s very easy to transact cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), etc., with fiat currencies like US Dollars (USD), Chinese Yuan(CNY) and so on. For this reason, many users want to purchase Bitcoins or other cryptos using fiat currencies, especially if they have access to USD funds in bank accounts. However, because of stringent Know Your Customers laws imposed by financial institutions worldwide today, buying Bitcoins or other cryptos with fiat currency is not for everyone anymore. With cryptocurrency being highly volatile however, there are risks involved which must be considered before one can purchase cryptocurrency using fiat money.
So how do I buy Ethers on binance safely? How do I use my American Express card for purchasing altcoins? And what about KYC compliance requirements? These are all important questions one should ask themselves before making a purchase via their credit cards! Now let’s take a look at these requirements separately below:
1.) Using My Credit Card for Purchasing Altcoins On Binance
While some exchanges might accept charges from credit cards directly without verifying any personal information first, including email addresses and phone numbers, others require an ID verification whether you’re getting paid in BTC