How to Trade Bitcoins for Altcoins Using Binance

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Aside from bitcoins, you can also get other cryptocurrencies even if you are in the Philippines. The catch is that you will need to use a foreign cryptocurrency exchange site. Binance is one of the many cryptocurrency exchange sites that you can try.

Binance

With Binance, you can trade your BTC to other altcoins without the need of KYC. You will have a maximum withdrawal limit of 2 BTC just by verifying your email address. Of course, verifying your account will net you higher withdrawal limits (50BTC per day). A KYC’d account ensures that should ever something happens on your account, your documents can help identify you.

Altcoins to buy in Binance

Below are just some of the coins you can buy and trade on Binance:

How to Sign Up for Binance from the Philippines

Signing up in Binance is easy, you just need to go to Binance Website and you’ll see in the upper right corner Register. You will then see the registration page same as the image above. After completing the registration, click or tap on Register and they will then send you a verification email. You can click on the link or copy it to your browser.
Verifying your e-mail will let you withdraw funds up to 2 BTC.

How to Fund your Binance Account

To be updated:

As of this writing, you can not fund your Binance Account using our Philippine Peso directly. The easiest way to do it is to fund it using Bitcoins you bought somewhere like in Coins.ph, Bitbit.cash, Buybitcoin.ph, and Abra to fund your Binance Account. We explained this in detail in this article. That article is for Bittrex but the process should be almost the same.

Going to Funds

Once you have your BTC ready, you can go to Funds. Click on Deposit and Binance will give you your address that you will need to use in order to send your BTC to fund your account. You can copy the address or scan the QR code.

Going to Exchange

You will see a lot of numbers but don’t get discouraged. You just need to go to the right side of the screen and click on the altcoin you want to have. In the image above, you’ll see that we chose DASH (see the screenshot). At the lower portion of the page, you’ll see Buy DASH. Put the Amount of DASH you want to buy and click on Buy DASH. The price of DASH versus Bitcoin is already listed on the page too.

Tutorial Video for Buying Altcoins in Binance

Tips for Buying Altcoins in Binance

  1. Try buying Altcoins in small amounts first before you go all out.
    1. But only invest in an amount you can afford to lose!
  2. Before buying your chosen Altcoin, have your altcoin wallet ready. Keeping your altcoin in crypto-exchanges is not safe as they are prone to hackers. Our recommended cryptocurrency wallets can be found here.

Overall – Binance Philippines

Binance is just one of many cryptocurrency / digital assets exchanges sites that you can use. One good feature about using Binance is you don’t need KYC. This means you don’t need to submit your government IDs in order to get verified and use their services.

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[…] The process will involve sending your bitcoins from your bitcoin wallet such as Coins.ph into your Binance’s bitcoin wallet address. Click here for the steps. […]

[…] Binance – How to Trade Bitcoins for Altcoins Using Binance […]

[…] Click here for step by step procedure on trading altcoins on Binance. […]

[…] For example, if the current price of 1 bitcoin is USDT 10,000, and the user has USDT 1,000, they can then set a buy order at a lower price, for example, USDT 8,000 instead of buying immediately at the current higher price of USDT 10,000. At the rate of 1 BTC = USDT 10,000, the user’s USDT 1,000 can purchase 0.1 BTC while at the rate of 1 BTC = USDT 8,000, the user’s funds can purchase 0.125 BTC. On steps on how to trade on cryptocurrency exchanges like Binance, click here. […]

[…] For example, if the current price of 1 bitcoin is USDT 10,000, and the user has USDT 1,000, they can then set a buy order at a lower price, for example, USDT 8,000 instead of buying immediately at the current higher price of USDT 10,000. At the rate of 1 BTC = USDT 10,000, the user’s USDT 1,000 can purchase 0.1 BTC while at the rate of 1 BTC = USDT 8,000, the user’s funds can purchase 0.125 BTC. On steps on how to trade on cryptocurrency exchanges like Binance, click here. […]

[…] For example, if the current price of 1 bitcoin is USDT 10,000, and the user has USDT 1,000, they can then set a buy order at a lower price, for example, USDT 8,000 instead of buying immediately at the current higher price of USDT 10,000. At the rate of 1 BTC = USDT 10,000, the user’s USDT 1,000 can purchase 0.1 BTC while at the rate of 1 BTC = USDT 8,000, the user’s funds can purchase 0.125 BTC. On steps on how to trade on cryptocurrency exchanges like Binance, click here. […]

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