How to Swap Crypto in Binance Web Wallet
Swapping crypto in the Binance Web Wallet is a straightforward process, but it requires some prerequisites. Follow the steps below to get started.
Step 1: Open the Binance Application
To begin, open your Binance application on your device. Make sure youâre logged in to your account.
Step 2: Complete KYC Verification
Before you can use the Binance Web Wallet, you need to verify your account through KYC (Know Your Customer) procedures. This includes uploading your ID, completing selfie verification, and sometimes providing proof of address, depending on your country. Ensure that your account is fully verified to access all features.
Step 3: Access Your Main Account
Once verified, navigate back to your main account by tapping on the Binance logo at the top left corner of the screen.
Step 4: Explore More Services
Tap on "More Services." Look for the "Gifts and Campaign" section, where you will find the "Web3 Airdrop" option.
Step 5: Verify Airdrop Information
In the Web3 Airdrop section, youâll need to provide some personal information. Ensure that you complete the Binance KYC verification beforehand. If you donât yet have a wallet, you will need to create one.
Step 6: Create or Import a Wallet
If you need to create a wallet, follow the prompts until the process is complete. Once the wallet is created, you will need to go through two-factor authentication.
- Enter the code sent to your authenticator app.
- Tap "Submit" after entering the correct code.
Step 7: Email Verification
Next, youâll receive a code via email. Open your email, enter the code in the designated field, and click "Submit." Youâll be notified once the verification is complete.
Step 8: Access Your Wallet
After creating your wallet, return to your wallet account by tapping on the home icon.
Step 9: Add Funds
To proceed with trading, you need to add funds to your Binance Web Wallet. Tap on "Add Funds" located below the wallet section. You have multiple options for funding your wallet, including:
- Receiving tokens via address: Find your deposit address for the specific token you wish to receive.
- Buying with a card: Choose the coin, input the desired amount, and select your payment option (Visa or Mastercard).
Step 10: Start Trading
Once your funds are in your Binance Web Wallet, tap on the "Trade" option to enter the swap section. You will see two fields: "From" and "To," indicating the tokens you wish to swap.
Step 11: Select Tokens
In the "From" field, choose the token you want to swap from (e.g., BNB). In the "To" field, select the token you wish to receive (e.g., Dodge).
Step 12: Enter Amount and Review
Input the amount you want to spend. The system will show you how much you will receive after the swap. Review important details such as the route, minimum amount received, exchange rate, and network fee.
Step 13: Manage Slippage Settings
Consider your slippage settings, which are crucial for successful trades. If slippage is set too low, your swap might fail. For popular tokens, keep slippage low. For newer or low liquidity tokens, a higher slippage may be required.
Final Steps: Confirm the Swap
Review all your information, ensuring you have enough balance and that everything is correct. Once youâre ready, confirm the swap to finalize your transaction.
Conclusion
Swapping crypto in the Binance Web Wallet is an easy process as long as you are fully verified and have sufficient balance in your account. By following the steps outlined above, youâll be trading in no time. Thank you for reading, and happy trading!