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How to buy cryptocurrencies

how to buy cryptocurrencies using binance

One thing that many ask themselves to start entering the world of the blockchain is how to open a cryptocurrency deposit, i.e. on which portal to start converting your euros or dollars into cryptocurrencies.

There are hundreds of cryptocurrencies some more or less reliable and different portals. After a long reflection I opened mine on Binance.

First of all, Binance is a very serious, reliable and security-conscious portal. Secondly, it is very intuitive and easy to use, which is no mean feat for a novice.

First you need to open the account in the traditional way as is usually done with any online portal. To start trading converting fiat currencies to cryptocurrencies, you need to verify your account.

This process consists of sending a document by scanning it from the front-back mobile with the camera. Then we will have to frame our face to complete the process and send proof of our residence. In fact, for legal and fiscal reasons, Binance is required to ascertain not only the identity of the people but also their country of residence, where a tax on cryptocurrencies could be applied.

At the moment in Italy these must only be declared on the 730 form in the RW section for foreign currency and the taxes begin to be paid after having had a balance of at least 51,000 euros in the Binance account for at least seven days.

Also pay attention to the capital gains that must also be declared.
In short, to start managing cryptocurrencies, the first step is to open a binance account. In the next articles we will see how to start using them by connecting our Binance account to a wallet.