How to Buy Avalanche on Binance

How to Buy Avalanche on Binance

Wondering how to buy Avalanche on Binance? You can buy AVAX on Binance with bank deposits, and credit and debit cards.

Binance doesn’t work in the US, though, so US-based traders should find another exchange to buy AVAX. Take a look at our 21 Best Exchanges article to find a good alternative.

A Step-By-Step Guide on How to Buy Avalanche on Binance

1. Register an Account on Binance

Go to Binance to create a free account.

2. Verify Your Account

Click on the profile symbol in the upper-right corner of the page and select “Verification.”

Choose your country from the list to see which documents you need. Most countries require an official photo ID, such as a passport or driver’s license.

Fill out the information form without skipping any questions. Your information should match your ID document.

3. Deposit Funds/Crypto

Hit the yellow highlighted “Deposit” button on your dashboard to see the deposit menu.

Deposit Crypto

Do you own other digital assets in an external wallet? If you do, why not transfer them to Binance and swap those assets for AVAX?

On the deposit crypto page, select the asset you want to deposit to your account. You will get a QR code wallet address. Use the address as your withdrawal address on your external wallet when you are drawing your digital asset.

Do not use the same wallet address to withdraw multiple currencies! Create a new QR code for each asset you want to withdraw to Binance.

Deposit Fiat

If you are a beginner and don’t own any crypto, depositing fiat is probably your best option as it’s cheaper than buying crypto with a credit card. 

Hit “Fiat Deposit” and complete the order form you see below.

 

Binance accepts several local currencies, so select yours from the currency list and pick a payment option. 

Each payment method has a different fee scheme, but bank transfers are usually the cheapest.

If you don’t want to use any of the recommended methods, check out the “Other Methods” tab to see some alternatives.

Other Options

You can also buy AVAX with your credit/debit card. Click the “Buy Crypto” tab to go to the Binance Easy Buy. 

Easy Buy charges a 1% processing fee. The rates are set differently for each asset and usually include a hidden spread fee, so it’s more expensive than depositing fiat and trading on the Spot Market. 

Using credit and debit cards instead of your fiat balance also has a price. The processing charges vary between 2% to 5% of your transaction.

Next, let’s see how to buy Avalanche with these methods.

4. Navigate to the Relevant Screen to Buy

Binance offers three different ways to buy and trade cryptocurrencies. 

Binance Convert lets you swap any digital asset with another cryptocurrency without braving the spot market.

With the Buy Crypto option, you can buy cryptocurrencies with a few clicks using your fiat balance or credit card.

On the Spot Market, you can buy Avalanche and other cryptocurrencies with your digital and fiat assets at a profitable rate.

Binance Convert and Buy Crypto (Easy Buy) are incredibly easy to use, but you can also trade on the spot market at more profitable prices if you are willing to go the extra mile.

Buy Crypto

Hit the “Buy Crypto” tab to go to the Easy Buy feature. 

As you can see, it’s fairly simple. Select your payment currency and the asset you want to receive (AVAX). Enter the amount you want to invest in AVAX. You will see a rough estimation of how much AVAX you will receive.

Hit “Buy AVAX” to pick a payment method. You can use your fiat balance if you made a deposit, or you can link a card to your account to continue by selecting “Add New Card.”

Add your card details to Binance and click “Confirm.”

That’s pretty much it. Your order will be executed instantly and AVAX will be deposited to your account in a few seconds.

Binance Convert

Binance Convert is very similar to Buy Crypto, but instead of using fiat currency, you can buy AVAX with digital assets. For example, if you deposited ETH to your account, you can swap it for AVAX with a few clicks.

To start, go to the “Trade” menu and select “Binance Convert”.

Fill in the order form by selecting the assets you want to swap and click “Enter an Amount.”

Enter the amount you want to exchange to see how much AVAX you will get. It works like a simplified version of the spot market, but the hidden spread fees are quite high (around 2%), so the rates aren’t as profitable.

Check out the order details before you click “Convert.” Binance Convert is very fast, so your AVAX tokens will be deposited into your account within a few minutes.

That’s pretty much it. If you want to try your hand at the spot market, we recommend taking a few minutes to study the interface and check out Binance’s help section before you proceed. If you enjoyed our “How to Buy Avalanche on Binance” guide, check out our exchange reviews and other “How to Buy” guides as well!