How to trade on Binance – step by step guide
What is binance and what does it do?
Binance is a cryptocurrency exchange that allows you to trade digital assets including cryptocurrencies. It also has its own native token, Binance Coin (BNB).
One of Binance’s biggest strengths is its large selection of different cryptocurrencies. This includes obscure coins and tokens, like Kyber Network (KNC) and Dragonchain (DRGN). It also has a vast array of trading pairs — you can use it to trade virtually any cryptocurrency against Bitcoin, Ethereum or Tether.
The exchange is also known for its low trading fees. It charges just 0.1% per trade. You can further reduce your fees by paying with Binance Coin.
Binance is also one of the few exchanges that offer a mobile app. This makes it convenient to trade cryptocurrencies on the go.
How to set up a Binance account
Setting up a Binance account is quick and easy.
- Just go to the Binance website and click on the “Register” button.
- Enter your email address and create a strong password. Then click on the “Create Account” button.
- You will then need to verify your account via email.
- Once you’ve done that, you can log in and start trading!
How to put money into binance
To deposit money into Binance, you first need to generate a deposit address for the specific cryptocurrency you want to deposit. To do this, go to the “Deposits & Withdrawals” page and search for the currency you want to deposit.
Then click on the “Deposit” button next to that currency.This will generate a deposit address for you to send your funds to. Once you’ve sent your funds, they should show up in your Binance account within a few minutes.
How to buy cryptocurrencies on Binance
Now that you have some funds deposited in your account, it’s time to start trading!
To do this, go the the main page and click on the “Exchange” button. You will see a list of different currencies that you can trade.You can search for a specific currency by typing its name or symbol into the search bar.
Or, you can scroll through the list and find the currency you want to trade.
Once you’ve found it, click on the “Buy” button. A new window will pop up. Here, you can enter how much of the currency you want to buy, as well as your price limit.
Once you’ve entered everything, click on the “Buy” button to complete the trade. Congratulations — you’re now a cryptocurrency trader!
What are the benefits of using Binance?
There are many benefits of using Binance, including:
-A large selection of different cryptocurrencies
-Low trading fees
-A mobile app for convenient trading on the go
-Easy to use interface and beginner-friendly guides
If you’re looking to start trading cryptocurrencies, Binance is one of the best options out there.
Here are a few tips to help you get started on Binance:
-Make sure you have a strong password and 2-factor authentication set up for your account to keep it secure.
-Start with small trades to get a feel for how the platform works before putting in more money.
-Read up on the different cryptocurrencies that are available so you can choose the ones that are right for you.
-Use tools like price trackers and market analysis to help make more informed trading decisions.
Overall, Binance is one of the best cryptocurrency exchanges out there. Whether you’re a beginner or an experienced trader, it has everything you need to start trading cryptocurrencies and building your portfolio.