If you want to acquire an Internet Computer (IOU)(ICP), you must have either Bitcoin (BTC) or Ethereum (ETH) for trading purposes. You may use this article to find out the best places to buy cryptocurrency with a credit card or bank account. Read on for advice on effective cryptocurrency trading.
1. Open a Binance Account
Since various phishing incidents have been recorded in recent years that imitate the actual site, it is critical to sift through the URL (www.binance.com/en). First, look for the ‘Secure’ certificate in your address bar, verifying the site’s authenticity. Second, bookmark the accurate location to avoid any mistakes in future searches.
Fill in your data by clicking on the “Register” option in the right-hand corner of the website’s page. For example, you’ll need to enter your mobile number or email address. Use the primary email address that you can easily access and is safe because you will need it to log in to your Binance account.
Your email password should likewise be strong, with a mix of numbers, symbols, and upper- and lower-case letters. You will receive a 6-digit number through email to verify your account and complete the registration process.
Account security requires enabling two-factor authentication after the first login. Setting up 2FA is crucial since it protects your account from hacking!
To use two-factor authentication, you must provide a unique code after your email and password.
2. Buy your first Bitcoin (BTC)
You can send money to your Binance Crypto wallet account using SWIFT or debit/credit card. It will show you how to utilize your credit card for this.
BTC is highly recommended to buy Bitcoin first, then trade it for Internet Computer (IOU) (ICP).
It is simple to buy Bitcoins using a credit card, but I will show you how to do it step-by-step so you understand everything.
Click on the ‘Buy Crypto’ tab on the top bar to open the dropdown menu. Then select the currency, for example, US Dollars, and click ‘Credit/Debit Card’ to proceed. You can choose your chosen Bitcoin (Select BTC) and the amount you need to pay to buy it on the next page. And then buy BTC. A window containing your order’s details will appear. Before placing your order, please read the disclaimer and Terms of Use.
Once satisfied, tick the tab and click ‘Go to payment.’ Fill up your credit card and personal details. After that, click “Pay now” and wait for it to check your data. If it is your first Simplex payment, you need to validate your email and phone number via an email or SMS. Verify your email address by clicking the link and entering the code sent to you by SMS. After that, select “Continue.” Next, an official document is used to verify identity. Upload your ID photo and personal details by clicking the “Upload Document” tab.
3. Transferring Cryptos to an Exchange MXC
Consider now how to buy an Internet Computer (IOU) (ICP) with your Binance investment.
We must transfer our currencies to an exchange that trades Internet Computer (IOU) (ICP). So, I will lead you to MXC, an excellent deal for trading altcoins. We’ll utilize that URL to create your new account (mxc.ai).
After completing the same steps as Binance, we are ready to transfer our Bitcoins.
4. Depositing Bitcoins
Your BTC will need to be transferred from Binance to the exchange where you have set up your trading account to trade Internet Computer (IOU) (ICP).
You’ll need your wallet system. Click “My Assets” under “Assets” on the upper right. Copy “Deposit Address” from the Token.
This portion may be difficult, but it is simpler than a bank transfer. Return to Binance after copying your unique BTC wallet address. Then, on the top bar, click “Wallet” and then “Fiat and Look for (Deposit & Withdrawal).” So find BTC and click “Withdraw” on the right. Then paste the other exchange’s deposit address and choose BTC as the transfer network. Next, enter the withdrawal amount (you may click the Max button if you want to withdraw all).
Also, click the Submit button to begin the withdrawal. Binance may ask for your 2FA code and require you to confirm the departure by email.
5. Investing in Internet Computers (ICP)
Return to MXC and buy Internet Computer (IOU) (ICP) with your Bitcoins.
Hover over “Exchange” and select “Standard” to access the trading menu. Then, pick “BTC” in the right column and put “ICP” in the search area. If you have already moved your coin, click it to see an ICP/BTC price table in the page’s middle. Then select the “Market” option for the most straightforward buying orders. You can also enter your purchase price or choose a proportion of your BTC deposit by clicking the percentage buttons.
If everything is correct, click “Buy ICP.”
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