Binance: The Beginner’s Guide to Crypto Trading.

Binance is the world’s fastest and largest crypto trading platform. It provides a secure and convenient place to trade over 100 different coins. Like other exchanges, Binance allows you to buy and sell coins in exchange for other coins or fiat currencies like US dollars. Unlike other exchanges, Binance does not require users to create an account or verify their identity before accessing this platform. However, because of this, it can be somewhat difficult for new traders to navigate through the site. This article provides some tips on how to use Binance as a beginner trader.

Basic information about Binance

Binance is a crypto exchange. This means that it allows users to buy and sell coins for other coins or fiat currencies. Binance is the world’s fastest trading platform, which means that it’s the quickest way to convert your cryptocurrency into something else. Binance also has one of the lowest fees among exchanges.

There are four ways to use Binance:

– The first step is to head over to their website and create an account by entering your email address and creating a password.

– Next, you’ll need to verify your identity by providing at least two forms of ID (one must be photo ID). You can upload these IDs via Google Drive, Dropbox, or OneDrive. If you don’t want to provide any ID, you can make up a username and use your email address as a password for this account. But if you want to have an account with any level of security on this site, you’ll need at least two forms of ID.

– To buy Bitcoin or Bitcoin Cash on Binance, you’ll need to transfer Bitcoin or Bitcoin Cash from another wallet or exchange into Binance’s Bitcoin wallet address found under ‘Funds.’

– When buying Bitcoin on Binance from another exchange

Setting up a Binance account

Binance is a trading platform based in China and was founded in July 2017. To register for an account, you’ll need to provide:

– Email

– Valid mobile number

– Password

– Captcha code (to prove that you’re not a robot)

– Country of residence

Once your account is set up, it’s time to get started with trading! The first thing you need to do is fund your Binance wallet. You can do this by clicking on the “deposit” link at the top of the page and choosing either bitcoin or Ethereum from the list. Once you’ve done this, you’ll be able to monitor your coins using a tab on the left side of the screen.

The Signup Process

The signup process on Binance is fairly straightforward. Once you have logged in, you will be taken to the homepage. From here, click on “Register” in the top right corner of the page.

You will be asked for your email address and a password. Enter these and then click “Create Account”. You will receive an email with a login link that will take you back to Binance to complete your registration.

Be sure not to use the same password that you are using for another account! If someone else has access to your email account, they’ll have access to your account on Binance too.

Navigating the homepage

The first thing you’ll see when you access the Binance homepage is the list of coins available to trade. On the right side of the page, there are four different tabs to help you navigate through the site.

These tabs are “Markets”, “Market Overview”, “History” and “Funds”. You can navigate through each tab by clicking on them at the top of the screen. Clicking on Markets will show all coins that are available for trading, Market overview will show how much each coin has changed over time, history will show what trades have taken place in that particular coin and Funds will show your account balance.

You can also search for a specific coin by typing it into the search bar at the top of the screen. Once you find the coin you’re looking for, click on it to go to its specific page where you can view charts and graphs for that particular coin’s performance over time.

The Homepage’s Functions

When you first visit the homepage, you will see a menu bar on the left, including five different tabs.

The first tab is called “Home” and it provides information about Binance’s news, promotions, and announcements. The second tab is called “Market” and it shows the current prices of various coins. This tab is also where you can buy or sell coins. The third tab is called “My Funds” and it displays your balance in both USD and BTC. You can find more information about your transactions in this tab as well.

The fourth tab is called “Exchanges” and it shows all of the currencies that are available to trade on Binance’s platform. The fifth tab is for languages other than English, which are only accessible if you change your settings to that language.

Depositing funds

To purchase coins on Binance, you’ll need to deposit funds into your account. You can do this by clicking on the ‘Deposit’ button in the top right corner of the homepage. This will bring up a list of your wallets where you can select which one you would like to link to your account.

The next step is selecting a cryptocurrency from the list and depositing it into your account. If you don’t have any cryptocurrencies in a particular wallet, then this option won’t be available to select from the list.

After choosing a currency from the list, enter how much money you want to deposit into your account and click ‘submit.’ This will then show up as pending in your balance after a few seconds or minutes, depending on how quickly other transactions are going through at that moment. From there, it’s going to be available for use in the market!

Trading Coins or Tokens

There are two types of trades on Binance, the first being trading coins for other coins. The second is trading coins for fiat currency.

Coin-to-Coin Trading

On the right side of the platform, there are sections with different coins. For example, Bitcoin will be in one section and Ethereum will be in another. If you want to trade Bitcoin for Ethereum, you would navigate to the Bitcoin section and then click on ETH/BTC pair (exchange rate) next to the name of Ethereum.

Fiat-to-coin Trading

To trade your fiat currency for a coin, navigate to that coin’s page by clicking on it on the left side of site. Then go to “Trade BTC” or “Trade ETH” next to the coin’s name. On this page, enter how much you want to buy or sell in terms of USD or your chosen currency and what type of order you would like to place (Market taker or Limit).

Getting More Info

Visiting the Info section of Binance’s homepage is a great place to start. This section provides a lot of information for beginners, including a tutorial on how to use the site and what cryptocurrencies it accepts.

Users can also find videos with tutorials on how to use certain parts of the site, like the trade interface. These tutorials are especially helpful for users who are new to crypto trading or unfamiliar with Binance.

Exit and Close

When you’re finished trading, you may want to close your open trades. You can do this easily by clicking the button that says ‘Exit and Close’. This will take you back to the main dashboard where you will see all of your open trades listed. Select the trades you want to close and click on close.

You will be asked for confirmation of the trade before it is closed. Be sure to read carefully before confirming.

Conclusion

The interface is straightforward and easy to use, making it perfect for beginners. You can get started with understanding the basics of trading, or get in at the ground floor of the latest coin by simply depositing funds and trading. It’s that easy.

Now that you know how to trade on Binance, there are actually a number of other features that may interest you. For example, you can utilize the “Hot List” tab to see which coins are currently in demand, or use the “Funds” tab to see your current balance and funds in different currencies. If you’ve made some money on your trades, you can also withdraw it under the “Funds” tab. And if you want to take a little break from trading, you can simply click on the “Close” button under the “My Positions” tab to exit your trades and return to the homepage.

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