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How To Use Binance Complete Guide

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How To Use Binance Complete Guide

In this article I will be teaching you how to use Binance. choosing cryptocurrency exchange can be really stressful so it’s important to choose an exchange that you can trust. It’s also important to find an exchange that meets your needs and isn’t too complicated to use. There’s nothing worse than opening an account on an exchange and then realizing you don’t know how it works!

At this time, the digital currency exchange market is filled with a wide variety of choices, therefore choosing the right exchange or trading platform can be quite a headache for both novice and veteran cryptocurrency users.

CoinMarketCap lists Binance as the second biggest crypto exchange on the market. In the last 24 hours, more than 1.4 billion US Dollars worth of cryptocurrency has been traded on it.

Binance is a crypto-to-crypto exchange. This means that users can only use it to trade cryptocurrencies. If you don’t already own some cryptocurrency, then you’ll need to buy some before you can start trading with Binance. I suggest using an exchange that offers fiat currency trading like Coinmama, CEX.IO or Coinbase.

Note: Fiat currencies are the official currencies of nations. Examples include: the Japanese Yen (JPY), the US Dollar (USD) and the British Pound (GBP).

Binance is a popular cryptocurrency exchange which was started in China but recently moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. it has managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, professional attitude and friendly CEO and also due to its low trading fees.

 

 

VISIT BINANCE HERE

 

Those who visit Binance for the first time will quickly notice that the platform offers two options for digital currency trading- basic and advanced.

Anyone with a background in digital currencies and with a bit of knowledge into how exchanges work should be able to use the platform and its different services.

The main difference between the basic and the advanced version is that the advanced one offers more-in-depth technical analysis of digital currency value over time. At this time, the dashboard for the basic version offers several graphs and charts for the pairs that you’re trading, order books, and trade history.

This is what the basic view looks like :

 

 

The Basic view is nicely designed and well laid out, all the information you need is clearly presented with prices on the left, graphs in the center along with the buy and sell boxes and the trade history is presented on the right so you can quickly see what the latest trade prices were.

 

And this is what the advanced view looks like:

 

 

The advanced view uses a dark theme and makes the trading charts larger and the latest trade prices are displayed on the right with the buy sell boxes underneath.

Which you choose is a matter of preference really, I like the lighter colored basic view and find the layout a little easier to use.

How to Open an Account

 

Follow the simple instructions below and you’ll be trading in no time at all!

 

To use the exchange, users will first have to create an account. The process behind this is fairly simple and straight-forward and you don’t have to verify your account for level 1 which is a 2BTC daily withdrawal limit. For level 2 which allows up to 100BTC per day, you need to upload a photo ID and wait till you are approved. There are higher limits still, but you will need to contact them directly to arrange that.

 

Time for verification can vary depending on how busy the site support staff are, so make sure to plan ahead if you wish to withdraw larger amounts and make sure this step is complete before depositing and trading large sums on the exchange.

 

1.  Get registered: The first thing you need to know about how to use Binance is how to get registered! Go to the Binance homepage and click on Register.

You’ll be redirected to the registration page where you’ll need to enter your email address and create a password.

2. Read and agree to Binance’s Terms of Use and click Register.

3. Prove that you’re not a robot. You’ll be asked to complete a puzzle which you should find easy unless…you’re a robot!

An email will now be sent to you. Click on Verify Email to complete your registration.

Congratulations! You’re a Binance account holder. Next, I’ll show you how to use Binance but first you need to secure your account…

4. Secure your account: When your login for the first time, you’ll be asked if you want to set up 2FA. You Do want to set up 2FA, it’s very important! If you choose Skip for now you’ll regret it later!

Note: 2FA is two-factor authentication. It’s a security feature which gives users an extra form of password. When using 2FA, users enter their normal password and a second code which can be sent to a mobile device by SMS or created by the Google Authenticator app.

After you’ve set up 2FA, you’ll be ready to fund your account. This means moving cryptocurrency into it. You can do this by sending cryptocurrency from a crypto wallet or another exchange – like Coinbase – to your Binance account.

How to Fund an Account

For this Binance tutorial, I will use Coinbase as an example of one way that you can fund your Binance account. A similar process will apply to almost any other exchange you are sending the funds from. I will use Ethereum (ETH) as an example of a cryptocurrency you can use to fund your Binance account.

1. Go to Coinbase: Login to your Coinbase account and click on Accounts. Next, click on Send where it says ETH Wallet.

You’ll be asked to enter a Recipient. This is where the Ethereum will be sent. You’re sending it to Binance so you need to get an Ethereum address from your Binance account.

2. Login to your Binance account. On the taskbar, click on Funds then Deposits.

Now enter the cryptocurrency you need an address for. In this example, I’m using Ethereum. Binance will create an Ethereum address for you to send funds to.

The ETH Deposit Address is where you will be sending your Ethereum funds so copy and paste it into the Recipient box in your Coinbase account.

All you need to do now is decide how much Ethereum you want to send to your Binance account and click Send. The funds will appear in your Binance account as soon as they are processed by the Ethereum network.

Now you know how to use Binance to open and fund an account. Next, you can learn how to trade on Binance!

How to Trade on Binance

There are two Binance trading settings: Basic and Advanced. Beginners should start by trading in Basic.

The Basic trade setting has a simple layout that’s easy to understand. Only important information for making trades is displayed. You must remember that Binance is a professional trading platform, so even the Basic trade setting might seem too complicated for some newbies to use. However, it won’t take you long to grasp it!
The Advanced trade setting gives expert traders access to all the price charts and market data that they need to make complex trades. As this is a beginner’s Binance tutorial, I’ll only be showing you how to buy on Binance in Basic. I’ll save the tricky stuff for another day!

let’s learn how to use Binance for Basic trades…

How to use Binance for Basic Trades

1. Login to your Binance account. Nice and easy!

2. Click on Exchange on the taskbar and select Basic.

3. Blasic Platform

4. Choose a trading pair. Binance lists hundreds of trading pairs. These are pairs of coins that Binance offers an exchange rate for. For example, Bitcoin can be traded with 143 different coins so we say that Bitcoin has 143 trading pairs on Binance. In this example, our account is funded with Ethereum, so we are only able to trade with Ethereum. To find out which cryptocurrencies are offered for trading with Ethereum, select ETH in the top right corner. You’ll now be able to see that Ethereum has 140 different trading pairs on Binance. Select the coin that you want to exchange Ethereum for. For example, you could choose Ripple (XRP).

5. Choose which type of trade you want to make. Binance offers three kinds of trade:
* Limit orders allow users to set the maximum price they are willing to pay for coins or the minimum price they are willing to sell them for. Traders then have to wait until a buyer or seller accepts their price.

* Market orders allow users to trade coins at their current market price. This kind of trade is the fastest and most simple.

* Stop-limit orders allow traders to buy or sell a coin once it has reached a certain price. This kind of order is often used by pro-traders. Today, I’m only going to show you how to buy on Binance with market orders. They are quick, simple and perfect for beginners.

 

6. Choose the amount you want to trade. Click on Market if you are happy with the current market price and enter the amount of Ripple (or your chosen coin) you want to buy. You can enter this as an amount or as a percentage of the Ethereum in your account.

Click on Buy XRP and that’s it. You’re now a Binance crypto trader!

Trading Fees

Binance trading fees are some of the lowest on the market. Binance doesn’t charge users for making deposits. This is because the exchange is cryptocurrency-only. It avoids the high fees that exchanges that offer fiat trading have to charge.

Binance charges different withdrawal fees for different cryptocurrencies but they are all quite low. For example, if you withdraw Ethereum you’ll be charged 0.01 ETH and if you withdraw Ripple you’ll be charged 0.25 XRP.
Binance trading fees are capped at 0.1% of each purchase or sale users make. This fee is reduced by 50% if traders use Binance Coin to pay them. So, that’s a final fee of just 0.05%!

You only need to check the trading fees of its competitors to understand why Binance is one of the most popular exchanges on the market. Bittrex and Bitstamp are well-known for having low fees and they both charge 0.25% for each trade. That’s five times more than Binance!

As you can see, Binance trading fees are one of the exchange’s best features.

Withdrawal fees tend to vary for each digital currency. For instance, 0.0005 is charged for Bitcoin withdrawals, and 0.005 is charged for ETH withdrawals. Here are some examples to give you an idea of the fees you will be paying for withdrawals:

 

Binance has a trading volume of over 1.4 billion US Dollars for a good reason – it works!

Binance has millions of happy customers all over the world. They use Binance because it’s simple and it has great trading features.

If you want us to set this up for you perfectly and fund it without errors kindly call 08023901675

 

Click Here To Discover How I To Turn $100 To $1000 In 3 Weeks

 

 

 

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