How To Buy Ethereum Classic On Binance [Complete Guide 2023]

Buy Ethereum Classic On Binance

Do you want to explore how to buy Ethereum Classic on Binance? If yes, then stay with this guide and gather the complete idea to Buy Ethereum Classic on Binance.

If you need more clarification about buying crypto, then Binance offers you a wide range of options. You can effectively buy Ethereum Classic (ETC) with the highest security and lowest fees wherever Binance is available. Proceed further and learn more about how to buy Ethereum Classic on Binance. If you have any queries

Ethereum Classic is the most popular cryptocurrency that you can buy on many exchanges such as Binance. Binance is the most trusted and widely used exchange across the globe. It is the best choice for buying an Ethereum classic. Here you can explore further details.

Also Read:- How To Buy Btc With A Debit/Credit Card Without Verification

Steps To Buy Ethereum Classic On Binance:

Step 1: Create A Binance Account

The initial step to buy the Ethereum classic on Binance is to effectively create an account. Visit the official Binance site and click the register option. Fill in all the required details such as a strong password and email address. Verify the official email address by clicking the link sent by Binance.

Step 2: Deposit funds

After setting up the account, you can deposit funds to buy ETC. Visit the deposit page and then choose the currency that you need to buy ETC. Then you can get the deposit address to send the funds. It is very essential to note that the deposit methods may take more time to be credited to the account. Hence you have to ensure to check the time taken to deposit for Binance.

Step 3: Buy Ethereum Classic

You can buy Ethereum classic after confirming the deposit. Then go to the exchange page and after that, select “ETC/ETH” or “ETC/BTC” trading pair. Enter the amount of Ethereum classic that you want to purchase and then place the order. After that, the, etc can be credited to the account.

Then you can use the stop limit order feature for setting the specific price for the order. In this way, you can make sure that you are getting the best rate for the purchase.

Step 4: Store Ethereum Classic

It is very essential to store the Ethereum classic in a secure wallet after buying it. Binance has the complete built-in wallet, but for added security, you can then transfer the Ethereum classic to a hardware wallet like Trezor or Ledger. It will give you complete control over the ETC and make sure that it can be protected from theft or hacking.

It is essential to remember that you are required to have the account 2FA enabled to make the withdrawal from the Binance account.

Use Or Store The ETC – Ethereum Classic in Binance:

Finally, you have bought the crypto. You can hold it in the Binance account or store it in your personal crypto wallet. You can stake it on Binance, earn passive income, or trade for other cryptos. When you like to trade the Ethereum classic to the decentralized exchange, you should check out the trust wallet that supports more blockchains and assets.

Select How You Need To Buy The Ethereum Classic Asset:

You need to select the “buy crypto” link on the Binance website navigation, showing you various options in the country. 

You must consider buying a stablecoin like BUSD or USDT first for better compatibility. Then you can use such a coin to buy the Ethereum Classic.

• A. Debit Card and Credit Card

If you are a new user, it is the best option to buy Ethereum Classic. Binance supports both MasterCard and Visa.

• B. Bank Deposit

Transfer the fiat currency from the bank account to the Binance app or website. After that, you can use such an amount to buy ETC – Ethereum Classic.

• C. P2P Trading

Buy the Ethereum Classic from other users directly with Binance’s peer-to-peer service.

• D. Third-Party Payment

There is a wide range of options for third-party payment channels. Go through the official site to find which is readily available in your region.

Major Reasons To Buy Ethereum Classic

There are several reasons why someone might choose to buy Ethereum Classic (ETC):

• Decentralization: ETC is the original version of Ethereum, which was created after a hard fork in the Ethereum blockchain in 2016. Some investors believe that ETC is a more pure decentralized version of Ethereum, and therefore prefer to invest in it.

• Strong community: ETC has a strong community of developers and supporters who are working to improve the blockchain and build new decentralized applications (dApps) on it. This community is dedicated to maintaining the original vision of Ethereum as a decentralized platform for building dApps and smart contracts.

• Low market capitalization: ETC has a relatively low market capitalization compared to other cryptocurrencies, which makes it an attractive investment opportunity for those looking to invest in a cryptocurrency with the potential for high returns.

• Good performance: ETC has a good track record of performance. It has maintained its value in the market and has provided good returns to its holders in the past.

• Use cases: Ethereum Classic is used in various decentralized applications such as gaming, prediction markets, and more.

Diverse development: ETC has its own development team, which is working on improving the protocol and adding new features, this allows for a more diverse ecosystem.

However, it is important to note that like any other investment, buying ETC carries risks and it’s important to do your own research and invest wisely. Additionally, the cryptocurrency market is highly volatile, and the value of ETC can fluctuate dramatically.

Conclusion:

Buying an Ethereum classic on Binance is an easy and simple process. By going through these steps, you can buy an Ethereum classic easily and securely store it in the wallet of your preferred choice. It is very essential to do your own investment and research effectively. Remember the fact that the cryptocurrency market is volatile and the etc value can dramatically fluctuate.