How To Buy (REN) On Binance Exchange In 4 Steps: Guide For Beginners

How To Buy (REN) On Binance

Ren (REN) is an open protocol meant to enable the permissionless and private transfer of value between any blockchain.

Ren’s core product, RenVM, is focused on bringing interoperability to decentralized finance (DeFi).

HOW TO BUY REN (REN) COIN ON BINANCE

Ren (REN) is the first and only open protocol that provides access to inter-blockchain liquidity for all decentralized applications. Bringing BTC, BCH and ZEC to your Ethereum dApp.

With a Market Cap of $40,734,00+ USD, Ren allows the free movement of value between all blockchains and transfer of tokens in zero-knowledge. Unlocking new liquidity and resources to power a new wave of value in the open finance movement.

With Ren all decentralized applications can run in secret, preserving the privacy of all users and data.

Why Binance Is a Great & Secure Place To Buy Ren (REN)

In case you know about Binance then you can skip to How to buy Ren (REN).

commencing its exchange service in 2017, Binance is now the largest exchange in the world for the daily trading volume. One of their greatest advantages is that they list well 100+ different cryptocurrencies to meet the demands of the crypto market.

One interesting fact about Binance is that they transact well over $1 billion daily.

While you cannot deposit or withdraw using traditional payment methods such as a debit/credit card or bank account, nevertheless, you will not be charged to deposit using a cryptocurrency and withdrawing Ren (REN) which is very reasonable. When it comes to trading fees, Binance’s stands at 0.1% for each trade.

Buying cryptocurrencies on Binance is simple as they offer users both BASIC and ADVANCED trading platforms, which makes it perfect sense for beginners, as well as more experienced traders.

To wrap it up, Binance has a very good record of keeping their exchange safe. Nevertheless, to further keep your account secure, it is well worth using their Google Authenticator feature, which will require you to enter a mobile code every time you log in.

And at any point you think you will need the customer service, there are three ways to contact the Binance team. You are free to use a live chat facility, email support or you can submit a ticket.

How to buy Ren (REN) Crypto Coin on Binance Exchange

In my step-by-step guide, I am going to show you how to buy REN using the Binance exchange. Although they do not allow you to deposit using real-world money, they do have the largest trading volume, their fees are low and it’s really simple to use their platform!

Here is the first step to buying Ren (REN)

Sincere disclosure: We earn a little commission if you end up buying through our referral links in this guide. Thanks for your support. #Many Thanks.

Step 1: Create an account on Binance

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The very first step in the process is to create your Binance account. The process is very simple.

The only requirement is to provide your valid email address and a password.

Make sure that you use a strong password when creating your account since this is a place where you will be keeping your funds.

First, you will need to visit the official Binance website, which you can do by clicking this link.

2. In the top right-hand corner of the screen, click on Register.

How-to-buy-cryptocurrencies on Binance step 1

3. Go ahead and enter your email address, choose a strong password and tick the terms and conditions box. Then click “Create Account”.

How-to-buy-cryptocurrencies on Binance step 1

4. Solve the Security puzzle. (To verify you are human and not a robot) you will need to drag the slider across and match the jigsaw.

How-to-buy-cryptocurrencies on Binance step 3

5. At this point, Binance will then send you an email. Go to your inbox and click the confirmation link.

Buy cryptocurrencies On Binance exchange-email verification

6. Yes…Congratulations, as you now have a verified Binance account!

Buy cryptocurrencies On Binance exchange-account activation successful

Kindly note that they may ask you for some verification documents such as national id, driving license and/or passport. Submit the required documents as it won’t take time.

verify your Binance US ACCOUNT 2020

Step 2. Deposit Funds into Binance

When once you have set up your Binance account, you now need to fund it in order to buy Ren. All you need is your Binance deposit address so that you can transfer funds across. I will show you how to do that easily. Let’s see.

#1. Login to your Binance account, and go to Balance. To do that, move your mouse over WALLET (at the top of the page) and then click on SPOT WALLET

how to deposit funds on Binance exchange

#2. You will now see your Balance. Click on “Deposit” on your left-hand side.

how to deposit funds on Binance exchange

#3. For this tutorial we will deposit BITCOIN (BTC) – the easiest for beginners, else, you will see a long list of cryptocurrencies that Binance support.

#4. Your unique Binance wallet address for BITCOIN (BTC) deposits is now displayed. Make sure you click on the Copy Address button.

how to deposit funds on Binance exchange-copy the wallet address

Kindly note: as specified above, send only BITCOIN (BTC) to this deposit address.

Sending a coin or token other than BTC to this address may result in the loss of your deposit.

It’s time to successfully deposit Bitcoin to your Binance account.

Step 3. Fund your Account using Coinbase or Luno

Using Coinbase

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To fund your Binance account, you will need to go to Coinbase or Luno and Paste the BITCOIN (BTC) address you copied from Binance.

I recommend you use Coinbase.com. You will get extra $10 if you open a new account and deposit at least $100. Click here to go to Coinbase.com.

To fund your Binance account, on your Coinbase account, Paste the copied Address from Binance, enter your account and click SEND.

Using Luno

Buy Bitcoins (BTC) on Luno Exchange in USA

Luno is a good exchange just as Coinbase. Only use Luno if Coinbase is not accessible or available in your region/country so that you won’t miss out on the $10 which will do you good. Click here to go to Luno.com.

To fund your Binance account, on your Luno account, Paste the copied Address from Binance, enter your account and click SEND.

Step 4. Buy Ren (REN) on Binance Exchange

REN (REN) PROTOCOL

Believing that you have followed the above step-by-step buying guide, if yes then you should now have a fully funded Binance account.

Let’s hit the final part of the guide which is showing you how to buy Ren (REN).

1. At the top of the page, move your mouse to TRADE and then click on Basic.

how to Buy cryptocurrencies on Binance

2.  On the right of the screen, enter REN into the search bar. REN & BTC pair will show forth. Go ahead and click on it.

HOW TO BUY REN (REN) COIN ON BINANCE EXCHANGE

Click on the pair. 

3. You are now on the main trading screen for the Ren (REN) and Bitcoin pairing.

HOW TO BUY REN (REN) COIN ON BINANCE EXCHANGE

4. Scroll down below the chart and look for the Buy REN trading box. Make sure that you click on the Market.

HOW TO BUY REN (REN) COIN ON BINANCE EXCHANGE

5. You now need to enter the number of REN coins you want to buy. If you want to use all of your Bitcoin balance, click on 100%. And if you don’t, then you are free to enter your desired amount into the box. Finally, click on Buy REN to complete your buying order.

That’s it, you’ve just bought your very own Ren (REN)! Congratulations…

Buy Bitcoin Successfully

Final Note

I’m optimistic you’ve enjoyed my “How to buy Ren (REN) CRYPTO guide for beginners!.

At any point you are puzzled on what to do, just go ahead and read it once more for proper understanding

Have a nice crypto day.

Visit Luno (if Coinbase is inaccessible in your region/country)

Need a hardware wallet to secure your REN? Check out the top 3 hackers crypto hardware wallets.

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