Here comes the trickiest part of the process, now you need to create your own wallet to hold both BNB With BINGUS, there are several options for creating your own wallet, the best option is to use a hardware wallet such as Ledger Nano S or Ledger Nano X.They are secure hardware that provides various layers of security to protect your assets, you just need to store the seed phrase in a safe place, never put it online (ie don't upload the seed phrase to any cloud service/storage /email, and do not take pictures).If you plan to stay in the cryptocurrency space for a while, it is highly recommended that you buy a hardware wallet. In short, since BINGUS is Binance BEP-20 tokens running on Smart Chain, so the fastest way to buy is to transfer your BTC to Binance(or for US traders listed in the table below Exchange), convert it to BNB, then send it to your own wallet via Binance Smart Chain and BINGUS on PancakeSwapĪfter signing up on Binance or the suggested exchanges above, go to the wallet page and select BTC and click Deposit.Copy the BTC address and return Binance, withdraw your BTC to this address and wait for it to arrive, which takes about 15-30 minutes, depending on the usage of the BTC network.Upon arrival, trade your BTC to Binance Coin ( BNB). PancakeSwap is built on an automated market maker (AMM) system that relies on user-funded liquidity pools, which is why it works flawlessly without traditional order books from centralized exchanges.
PancakeSwap is a DEX, similar to Uniswap/Sushiswap, but it runs on Binance On the Smart Chain (BSC), where you can trade all BEP-20 tokens (as opposed to ERC-20 tokens in the Ethereum blockchain), unlike Ethereum, it is significantly larger when traded on the platform Reduced transaction (gas) fees and has grown in popularity recently. Now you are ready, click on the "Transaction" button in the upper left corner, select BitcoinAnd to confirm your transaction.Congratulations!You just made your first purchase Cryptocurrency.īut we're not done yet.We need to convert our BTC to BINGUS.Since BINGUS is currently listed on PancakeSwap, we will guide you through how BTC on the platform is different from other centralized exchanges, the conversion steps for PancakeSwap will be slightly different because it is a decentralized Exchange (DEX), you do not need to register an account and do not need to go through any KYC process, however, trading on DEX requires you to manage your private key that owns your altcoin wallet, it is recommended that you be extra careful with your wallet private key, because If you lose your keys, it means you will never have access to your coins and there is no customer support to help you get your assets back.Although if managed properly, it is actually safer to store your assets in your own private wallet than in an exchange wallet.If you are still not comfortable using DEX, please check any other traditional centralized exchange BINGUS on the above tab Otherwise, let's go through these steps carefully. Step 2: Fiat currency BTCĪfter completing the KYC process.You will be asked to add a payment method.Here, you can choose to provide a credit/debit card or use bank transfer.You will be charged a higher fee when you use the card, but you will also make the purchase immediately.Although bank transfers are cheaper but slower, depending on the country you live in, some countries offer low-fee instant cash deposits, such as iDeal in some European countries. You will receive a confirmation email.Open it and click on the link in it.Then, you will need to provide a valid mobile phone number to set up two-factor authentication (2FA), which is another layer of account security, and it is strongly recommended that you keep this feature turned on.įollow the next step to complete authentication.The steps are a bit daunting, especially if you're waiting to buy an asset, but just like any other financial institution, Binance is regulated in most countries like the US, UK, and EU.This is the price you can use to make your first crypto purchase using a trusted platform.The good news is that the entire so-called Know Your Customer (KYC) process is now fully automated and takes no more than 15 minutes to complete.
#Bingus token password#
Enter your email and click Get Started.Make sure you provide your real name as Binance will need it for account verification.Choose a strong password so your account is safe from hackers.
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