Binance is one of the biggest exchanges in the crypto world. Changpeng Zhao was the founder and the CEO of Binance. He’s built an incredible exchange, and it did the marketing really good. The market during the 2017 bull market run where altcoins went crazy also, Bitcoin went crazy, but in comparison with altcoins did some unbelievable moves and Binance was the main place to come to buy altcoins in the market at that time. Binance had some problems initially, but now they’ve finished a whole load of stuff out.
In this, we cover all the things about Binance.
In Binance Exchange, there are two versions when you buy a cryptocurrency. The first is Basics and the second is Advance. The basics are designed with a white background, and advance is in black background. So when you get the black and white background, you can easily find whether it is basic or advanced.
So First step is Signup in Binance if you are new and fill in all the details required. If you already have an account, then click on the login section.
How can you buy cryptocurrency with Binance : 3 way
1. Buy with credit and debit card in Binance
Most people in cryptocurrency want to buy with their card. You can do bank transfers as well show you in a second, but this is the easiest way to buy crypto. You will pay more fees, but these are competitive. It’s about 2.5percent in Binance, which isn’t obviously good but in comparison to other you know places offering debit card payments. It is gonna be higher with it with a card, but in comparison, some with others are pretty good. It’s competitive to Coinbase can be up to like three-four percent when you have hidden fees as well, so pretty decent really streamline. When you buy, you know, with your card, it goes straight into your wallet.
You’ve also got local vendors, so this is a really exciting product. You can basically buy USD, Bitcoin either be used is the Binance coin, so the USD is a stable coin. You can buy off local people, which looks like a lot, But basically, yeah, you could come on here you can buy from a local vendor as one there’s a whole load of products. The fees will be less when you go for a bank transfer.
The third-party payments if you’re in an area of the world where you don’t have access to the cryptocurrency. You know the normal kind of banking stuff, and like payment wise that’s the type of card, but you can use them, which offers more people getting into crypto. A lot of jurisdictions out there that don’t have access to this kind of stuff. You can buy Bitcoin with these tons of cards as well, so that’s basically the ways you can buy cryptocurrency in the Binance exchange.
Deposit and withdraw your cryptocurrency in Binance Wallet
If you have cryptocurrency in other exchanges. You can easily deposit in your Binance account by clicking on the spot account and seeing many cryptocurrencies. You can search cryptocurrency and click on the deposit. The cryptocurrency deposit address is visible and starts deposit. The withdrawal process is also similar in Binance.
How to Trade Cryptocurrency in Binance
Binance exchange probably had over a thousand coins. It doesn’t have everything, but there are so many shit coins out they don’t need to be on everything, and you can come on here you can basically trade all of these assets 24/7 in Binance. So you can come here. You can trade all these to interpret currencies whenever you want the trade. In the market, Binance has big pairs like a BTC -USD, BNB-USDT, ETH-USDT, and EOS-USDT, which you can trade with a high volume. You can charge fewer fees and also there’s a whole lot of discounts on different products. When you click on the market, many cryptocurrencies are open to trade-in Binance. you can select the market if you want to trade with BTC, then select BTC as shown in the image after clicking on the advance mode
This is the interface for the Binance exchange which most people are familiar with especially is a little bit more powerful. So basically your order book so you can actually see where the buyers and where the sellers are. Here are the buy orders, here the sell orders, you can see what the books are. when you buy a large amount you can easily buy
How to place a Limit order in Binance
You can do limit orders, market orders, and stop-limit orders in Binance exchange. So a limit order basically means that you can set a price you want to buy out. For example, The price of Ethereum is two hundred thirty-eight dollars right now, but you don’t want to buy at this price you think two hundred thirty-eight dollars is too expensive for one Ethereum. So what you do is you go on a limit order you think that Ethereum actually worth $230 you want to buy at $230 and then click on the buy button. Then start filling up the by the side of the order book, and when the price of Ethereum comes to$230, you will then instantly buy it because your limit order will be triggered. Obviously, this is powerful because it means you don’t have to be at your computer to buy a cryptocurrency, and you can also do that by selling as well. So you bought your Ethereum at $230, and when it goes to $300, and you think that’s probably overpriced and want to sell my Ethereum, you do the same. So you click 300$ you want to sell one Ethereum you click sell, and then you’ll fill up the order book’s sell-side. If you think that market goes up so you can also buy at the current market price. It will instantly credit your account. You can then also the same as the sell-side you can sell it as soon as you want.
Here you have a stop limits. If you want to buy at a price of $238, you think that if the price goes below $230, then the Ethereum will go down as possible. But then you want to sell at $230, what you do is exactly the same here you put your stop limit at $230, and you put your limit at $238, and then again, you can automate your trading.
Margin In Binance
You can see the margin section in the Binance exchange, so what you can actually do as well on Binance exchange. You can limit margin, so you get margin means that you’re basically getting it’s like leverage. You can trade five times the amount of money you have. But just be careful if your margin price for you to get then you to know wiped out goes to that price you will then lose what you put in as you can see. 5x margin is a low risk than the futures derivative. In the futures derivative, you can actually get up to 125 times leverage that is for basically professional or very experienced traders. You shouldn’t be really trading on that if you have no idea. This is good for advanced traders, so they’re kind of covering basic meaty familiar in advanced the great thing about this.
Chart for Technical analysis In Binance
Charting is a technical analysis of predicting where you think the price will go in technical analysis. No one actually knows what the price is gonna go ever than yes yeah, all you can do is balance. It basically puts the balance of probabilities in your favor. You get great traders, and you get bad traders, but this basically gives you the tools to run the technical analysis. You can tailor bots to the Binance exchange as well. It has many charts like RSI, Japanese candlestick, or even more. If you are an advanced trader, you no need to go to other platform Binance is enough.
Earn money from Binance
You can basically earn a financed and Binance card. so as you can click on finance you see the savings, staking, Binance pool, debit card, and crypto loans that start with savings. so in here, you can actually earn a yield on your crypto so finance savings really cool. so you get one percent on your crypto and for locked your coin you got a whole load of stuff they do some pretty crazy like 3.8% on EOS for seven days, thirty days will be even more six percent annualized that’s really high. Staking, so as you well know a lot of projects give you staking rewards for holding the tokens you stake to the network and whether it’s like to basically vote or mine or whatever it is you can get rewards for that.
The Binance also offers the mining rewards at their platform by Nance blockchain. You can check out the mining URL you can put your you can state into the platform as well you got steak and balls here as well and the by Lance pool. It is secure and transparent, basically, get rewarded for displaying getting building hash rate on their blockchain. You can start earning rewards.
Binance Debit Card
Binance also offers debit card service and pay with crypto world wide cool. So you can register and see whether it is ready in your country to use or not.
Crypto Loan In Binance
Crypto loans is actually a brand new product Binance exchange just released. You can get a loan secured by your crypto assets guaranteed and approved. You usually use your crypto assets as collateral, and you can actually get other cryptocurrencies put back in a so you put one Bitcoin in, they might give you $5,000 as a loan. If you want to borrow USDT, put a thousand there how much the collateral you need so 0.16 Bitcoin in your account to do it. You can then choose your least your basically borrowing terms so you can do loan term 7 days, 14 days, 30 days, 90days, and you can see here annual interest rate at 10.4 percent. So it’s really not that expensive.
Binance customer support
It provides a more fantastic support system within 24 hours. The support placed at the footer, so you easily found that you can raise a support ticket when you get any problem. When you support tickets get to solve, you get a notification in email id, which makes it more responsive.