If you are interested in buying or selling cryptocurrencies, there are few better places to look than one of the world’s largest cryptocurrency exchanges by trading volume, Binance.
Founded in 2017 by changpeng Zhao, who was ranked number one on CoinDesk’s 2018 most influential list, Binance gained notoriety during the historic bull run across the entire cryptocurrency market in 2017, supporting a wide range of cryptocurrencies as they were, and is arguably still one of The fastest and most reliable trading Platforms.
In fact, Binance became so popular, so fast, that CZ and Binance were worth more than $ 1 billion in less than a year, which officially made it one of the first companies to receive the status of “unicorn” in the cryptocurrency industry.
However, despite its reputation as a destination for crypto traders, it is not easy for users with no experience in traditional trading or investing to navigate.
In order to start trading you need to register on the website of the binance Exchange
On the official website of Binance, you should choose the appropriate interface language, enter your basic data and confirm your registration. The creators of the project guarantee maximum security and safety of data, but special precautions do not hurt. Therefore, the account password must contain lowercase, uppercase letters, and numbers. After entering the necessary data, in order to make sure that the robot is not registered on the platform, the system offers to pass a captcha. If all the fields are filled in correctly, a confirmation of registration is automatically sent to the email address (specified earlier during registration). Just follow the link provided in the email to activate your Binance account. After that, you can start trading on the exchange with the ability to withdraw up to two bitcoins per day.
If a project participant finds this limit too limited, they can pass a two-step verification process and increase their limit by 50 times. But to do this, you need to take a photo of your face on the front camera with your passport in your hands, as well as a scan of the main pages of your passport. If a user makes large and regular withdrawals of bitcoins (more than a hundred per day), they can contact support to clarify special conditions.
Terms of trading on the Binance exchange
Earn easily with Binance
In the “Shopping center” menu section, 4 markets (BNB, BTC, ETH, USDT) appear in front of the project participant. After selecting a currency pair, a window POPs up with detailed information about quotes, the price range, and other details of the current market position.
There are two types of orders available for the trader – Market, Limit and Stop Limit:
- The first option – Market, executed immediately at the current market price. To create such an order, a market participant must click on the appropriate tab on the page of the appropriate currency pair, specify the amount of cryptocurrency to buy or sell, and create a deal.
- The second option is the order in which it is possible to independently set the price of purchase/sale, they are subject to the achievement of this level of prices.
- Stop-Limit orders allow you to place a pending order that will be activated when the specified price is reached.
The current value of a token is displayed in the user’s account on the left side of the screen. Funds are credited to the balance as soon as a market order is executed.
How to buy bitcoins on Binance
The easiest way to get bitcoins on Binance is to buy them using a Bank card . To do this, hover the cursor over “Buy cryptocurrency”, then click “Credit / debit card”.
Select your currency, as well as the cryptocurrency you want to buy, and enter the amount before clicking “Buy BTC”.
You will only need to enter your Bank details and the purchase will be completed.
To sell bitcoins for Binance, You need to perform approximately the same actions, after adding funds to Your wallet. Just select the bitcoins and the currency You want to sell them for. Go down the page and write the number of bitcoins being sold.
Click “Sell BTC” and confirm the order.