How to Start on Binance — Beginner's Guide

What is Binance?

Binance is the world's largest cryptocurrency exchange by trading volume. It offers trading in hundreds of cryptocurrencies, staking, savings, NFTs, and many other services. For Polish users, it's one of the most popular platforms for buying Bitcoin, Ethereum, and other digital assets.

Quick Answer

To start on Binance, register at binance.com with your email, then complete KYC verification by uploading an ID document and taking a selfie (usually a few minutes to a few hours). Before depositing, secure the account with 2FA via Google Authenticator or a hardware key, an anti-phishing code, and a withdrawal address whitelist. Polish users can fund the account via SEPA bank transfer (cheapest, 1–2 business days), card (instant, ~1.8–2% fee), or P2P. Remember that crypto prices are highly volatile and any gains are taxable in Poland.

Step 1: Account Registration

1. Go to binance.com and click "Register"
2. Provide your email address and set a strong password (minimum 8 characters, upper and lower case letters, numbers, special characters)
3. Confirm your email address with the verification code

Identity Verification (KYC)

Binance requires KYC (Know Your Customer) verification before allowing deposits and withdrawals:

1. Provide personal information (first name, last name, date of birth, address)
2. Upload a photo of your ID document (ID card or passport)
3. Take a selfie with the document or go through video verification
4. Verification usually takes from a few minutes to a few hours

Step 2: Securing Your Account

Before depositing any funds, secure your account:

• 2FA (Two-factor authentication) — mandatory to enable Google Authenticator or hardware key. SMS is less secure
• Anti-phishing code — set a unique code that will be visible in every genuine email from Binance
• Withdrawal address whitelist — restrict withdrawals only to known wallets
• Don't click suspicious links — phishing is the most common way of cryptocurrency theft

Step 3: First Deposit

Available deposit methods for Polish users:

• Bank transfer (SEPA) — cheapest option, funds in 1–2 business days
• Credit/debit card — instant, but commission about 1.8–2%
• P2P — buying directly from another user, often with better exchange rate

Tip: SEPA transfer in EUR is the cheapest option. If you have a multi-currency account (e.g., Revolut), exchange PLN to EUR and send for free.

Step 4: Buying Your First Cryptocurrency

Method 1: Quick Buy

1. Click "Buy Crypto" → "Quick Buy"
2. Choose currency (e.g., BTC or ETH) and amount
3. Confirm the transaction

Method 2: Spot Market

For better exchange rates, use the spot market:

1. Go to "Trade" → "Spot"
2. Choose trading pair (e.g., BTC/EUR)
3. Set order type (Market or Limit)
4. Enter amount and confirm

Method 3: DCA (Automatic Purchases)

Binance offers automatic recurring purchase feature — ideal for Dollar Cost Averaging strategy:

1. Go to "Earn" → "Auto-Invest"
2. Choose cryptocurrency and amount
3. Set frequency (daily, weekly, monthly)

Step 5: What to Do Next with Your Purchased Cryptocurrencies?

You have several options:

• Keep on exchange — simplest, but less secure (exchange can be hacked)
• Transfer to hardware wallet — highest level of security (Ledger, Trezor)
• Staking — lock up cryptocurrencies and earn interest (available for selected tokens)
• Flexible savings — earn interest with ability to withdraw at any time

Fees on Binance

• Spot trading — 0.1% per transaction (less with BNB)
• SEPA deposit — free or symbolic
• Cryptocurrency withdrawal — depends on network (e.g., BTC withdrawal costs about 0.0002 BTC)
• Card — 1.8–2% commission on purchases

What to Watch Out For?

• Volatility — cryptocurrencies can lose 30–50% of their value in a few days. Only invest what you can afford to lose
• Taxes — every cryptocurrency sale with profit is subject to 19% tax in Poland (PIT-38)
• Regulations — legal situation of cryptocurrencies is changing. Follow the news
• Don't keep everything on exchange — "not your keys, not your coins"

How Freenance Can Help?

Freenance allows you to track the value of your cryptocurrencies together with other assets — stocks, ETFs, cash — in one dashboard. You can see what percentage of your portfolio is crypto, how your net worth changes, and whether your allocation matches your plan.

👉 Track crypto and all assets in one place — freenance.io

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FAQ

Is Binance legal for users in Poland?

Binance operates in many European jurisdictions, but its exact regulatory status changes over time and varies by entity. As of 2026, Polish users generally can register and trade, subject to KYC and applicable MiCA-related rules at the EU level. Before opening an account, check the current terms of service and any country-specific notices on Binance, because availability of products like derivatives or staking may be restricted.

What KYC documents do I need to start using Binance?

Standard verification usually requires a government-issued ID (Polish ID card or passport), proof of address in some cases, and a live selfie or short video to confirm identity. Higher verification tiers may unlock larger deposit and withdrawal limits but can request additional documents such as bank statements. Only upload documents on the official Binance domain and never share them via email or chat with someone claiming to be "support".

How are profits from Binance taxed in Poland?

In Poland, profits from selling cryptocurrencies for fiat (or for goods and services) are generally taxed at a 19% flat rate and reported on the PIT-38 form. Crypto-to-crypto exchanges have not been treated as a taxable event since the 2019 rules, but rules can change. This article is not tax advice — consult a licensed tax advisor (doradca podatkowy) for your specific situation.

Is it safer to keep crypto on Binance or in a hardware wallet?

For small amounts you trade actively, keeping coins on an exchange like Binance is convenient and supported by their security stack (2FA, withdrawal whitelists, anti-phishing codes). For larger long-term holdings, a hardware wallet such as Ledger or Trezor reduces counterparty and hack risk because private keys never leave the device. The common rule is "not your keys, not your coins" — choose based on amount, frequency of use and your operational security.

Can I lose money on Binance even without trading actively?

Yes — cryptocurrencies are highly volatile and can lose a significant portion of their value within days, regardless of whether you trade. Funds parked in staking or savings products are also exposed to smart contract, protocol or counterparty risk in addition to price risk. Only allocate to crypto an amount you are prepared to see drawn down sharply, and treat it as a high-risk part of your portfolio.