Elrond is the cryptocurrency of an innovative project that aims to create a scalable blockchain with an architecture that can offer high performance and better levels of privacy. You can buy Elrond in a few steps directly through Binance, one of the largest exchanges on the web. Let’s find out in detail how to do it.
Why Buy EGLD
Elrond cryptocurrency presents interesting growth opportunities. The project behind Elrond is based on security, scalability and low fees. The technologies used could allow this decentralized network to reach quite high levels of speed. Buying Elrond could therefore be an excellent investment, although not without risk.
How and where to buy Elrond
You can buy Elrond on the website or directly on the mobile app of the Binance platform, one of the most used exchanges in the world, particularly famous for its ease of use. To buy Elrond, therefore, you will simply have to create a Binance account and choose to use your computer or simply your smartphone. This will allow you to manage your purchases wherever you are and at any time.
How to register on Binance
The first step to create an account on Binance is the registration. In this step you need to enter the official site Binance and click on the Register tab. Here you need to enter the email address and invent an effective password. On the entered email address you will automatically receive a confirmation email that allows you to proceed with the registration. The next step is to carry out the authentication of the mobile number that will serve later to activate the two-factor verification via sms.
Once this step is completed you can finally log in to your new account, but before you can start buying cryptocurrency you need to complete your profile by entering some personal information and uploading a photo of your ID or passport. Once all these steps are done it becomes possible to deposit money into your account and invest on Elrond.
How Binance works
The operation of Binance is really very simple and intuitive, perfect for both beginners and experienced traders. All deposits can be made in Euros, US Dollars and other fiat currencies. Binance also supports the following currencies: AUD, EUR, HKD, KZT, NOK, PEN, RUB, TRY, UAH, UGX. Thanks to Binance within 24 hours of deposit you can start trading in total freedom.
How to buy EGLD on Binance
After logging into your account, to make a deposit you have to select the menu in the top left corner and click on the Buy Crypto item. Here you can choose the classic method of payment, which is by credit card. This method, however, is the most expensive in terms of commissions, in fact at the time of payment is retained a commission equal to 1.8% of the amount you intend to deposit. At the same time this method of payment is also very simple, everything takes place as a simple online payment that provides for the inclusion of the holder of the credit card, the card number, the expiry date and the CVC code. In relation to the banking circuit of the card used may be provided additional steps for the security of the payment.
Another method to make the deposit is the bank transfer, a method that does not charge any commission. This channel is momentarily suspended. It is also possible to buy Elrond directly through a bank transfer that is based on an external bank. This procedure is the most expensive one.
Finally, if you own it, you can proceed with the deposit on Binance with the Wallet Advcash or via P2P transfer. In case you opt for depositing funds in your FIAT account then to conclude the procedure of buying Elrond simply convert the currency to Elrond by clicking the drop-down menu and opening the Trading section. Here simply select the Convert item and a screen will open that starts the conversion process. Before completing this step it is very important to indicate the currency you have in your wallet, for example Euro, and select Elron. You will then be able to successfully complete your purchase.
Fees and Commissions
By logging into your account you can check the level of commissions charged at any time. In general Binance does not apply commissions on deposits. For withdrawals instead, fixed fees are applied for the transaction costs of moving Elrond and other cryptocurrencies from your Binance account. Withdrawal fees can also vary due to different factors, so it must be specified that these depend on the blockchain network.
Final Thoughts: Is it worth it?
Buying Elrond on the Binance platform offers interesting opportunities. This is because Binance, in addition to allowing you to perform the purchase procedure with extreme ease, offers interesting advantages, privileges and discounts. In fact, by joining the Vip Program you will have special offers and discounts on the commissions usually retained by the exchange.
Discover all the features of Binance on the official website: www.binance.com