The Binance platform for trading cryptocurrencies via Binance is what we will explain today in a simple explanation of the Binance platform. The latter is a platform and service for exchanging digital assets. It 's basically online platform that allows people to buy digital currencies encrypted using Alpetkoan , and other currencies as USDT and also can buy and sell currencies encrypted with bank cards as and Mastercard accepted Visa.
A complete simplified explanation of trading cryptocurrencies on Binance will help you learn how to trade on Binance and give you the ability to trade basically any digital currency in the market. Best of all, unlike some other exchange platforms, Binance offers a truly amazing number of cryptocurrencies for you to buy and sell, so it is very likely that you will find the coins you are looking for on the Binance platform.
Trade cryptocurrencies on Binance
Where is the Binance platform located ?
Binance is based in China, and because of this location, the platform supports multiple languages. The Binance Exchange has acquired a lot of investments. Binance has raised more than $ 10 million in financing investments for various Chinese venture capital groups. Binance is , at the time of writing, one of the largest exchange and trading platforms in the world, and this is a huge advantage.
Why is Binance the best platform for trading cryptocurrencies
There are a lot of trading platforms digital currencies encrypted , Bittrex , Bitfinex , Kraken , and Poloniex are considered the most prominent - but features a range of pros and cons, but remain trading platforms and buying and selling the world 's first encrypted currencies, it is Binance platform.
The Binance Exchange is one of the few exchanges that still allow new members to be added.
The positives of the Binance platform
Strong reputation
The most important thing you should Okhaddh into consideration when choosing a trading platform digital currency encoded is its reputation. Characterized Binance are easy to use and safety. Has a team Binance proven track record in both digital currencies encrypted and finance in general. Personally, I haven't had any issues with Binance yet and when I requested support I found the team was extremely fast and helpful.
Good for beginners and professionals
The interface is easy to use for beginners, and advanced enough for professionals.
Access to hundreds of cryptocurrencies
The main reason I started trading exclusively on Binance is the huge range of currencies available. Many exchanges offer no more than 20 currencies or more, and Binance offers hundreds. And focuses Binance on new alternative currencies before the inclusion of other exchanges often cheaper, where it is Binance place to buy digital currencies encrypted cheaper on the Internet.
Low transaction fees and withdrawals
One of the biggest advantages of Binance is very cheap transaction fees. As Binance is in its start-up phase, its fees are already among the least expensive. Binance does not charge anything about new coin deposits on the platform and deducts only 0.1% of the trades' value. Another niche, if you use your Bitcoin to buy $ 100 in Ethereum , then Binance will deduct 10 cents from you.
Capable of processing 1.4 million transactions per second
The Binance platform is extremely fast. I had some real issues with some commercial exchanges being delayed, especially on Poloniex , and sometimes that delay cost me a lot of money. This problem does not occur on Binance .
The Binance platform is available in many languages
Good if you are bilingual!
Is Binance secure?
If you are wondering if "Binance is safe?" - Do not be afraid! Just make sure you follow the safe crypto trading rules and you will be good to go.
As you'll see in the directory, the Binance is one of the most trading platforms digital currencies encrypted safest and best, if you are new to encryption, Binance is really a platform more accessible with some simpler and easier to read graphs.
How to create an account on Binance
- Note - I highly recommend you do this on your desktop or laptop computer, and not on your mobile phone.
As mentioned, one of Binance's best features is how easy it is to use.
This step-by-step guide will show you how to set up an account with Binance , so that you can start trading in your preferred currency right away...
First step - go to Binance
The page should look like this.
* Pro tip * - Since you are now in the crypto world, it is always better to keep an eye out for secure websites. The most dangerous part of cryptography is falling victim to a fake website and sending your code to the crooks' wallet - if you do, you can't get it back. By ensuring a "safe" website, you can ensure that you protect yourself.
In the top-right corner, click "Register".
You should be taken to this page.
The Binance secret code requires one uppercase character. I recommend using an inconspicuous password with lots of letters and numbers
Fill in your information. The password you create must be at least 8 characters long, with one uppercase letter.
* Professional Advice * - Please, do not use your pet's name or your date of birth as your password. Create a new password, filled with letters, numbers and symbols. These small steps help ensure that your account, password, and beautiful cryptocurrencies stay warm and secure.
After clicking "Register," a quick puzzle game to verify will appear. It is a system designed for safety and to ensure that you are a human being and not a hacker program.
Move the slider over the puzzle piece!
We're on our way! Check your email now ...
Binance verification ensures that your transactions are safe ...
Click on "Verify Email" or "Verify Email." Who will take you here ...
Click on "Login"...
Https ensures that you will not be hacked
Then….
very important !
Please enable 2FA. This is rule number one of the golden rules for trading cryptocurrency safely. To set up 2FA, click "Google Auth" on the left side. This is a critical step in the Binance verification process.
The second step - enable Google 2FA
Once again we will enable the superb “Two Factor Authentication” Google.
This is a great tool that enables Binance to ensure that you are not being hacked
First, download the “Google Authenticator” app from the Android Play Store or the iPhone App Store.
Once you download the app, open it. Then, go back to Binance .
This is a very important part. There are two things to consider.
- Your barcode
- Your secret key
The barcode - this is what will sync your Binance account with your Google 2FA. Once you download the application, it will "scan the barcode". This will sync your Binance account with your Google account to give you a way to let Binance know who you are when you trade. It is very easy to use.
Secret Key - I advise you to take the key and keep it in three places. Write it down and store it in a book or magazine, bury it in your email, take a picture and lock it behind the photo security app (I like using Keep Safe - it's free and safe). This ensures that you have multiple means to access this important key. If your account is blocked, or your phone is lost, this is the only way to access your Binance account.
Now you can log in securely to your Binance account
With 2FA , the Google app will give you a code that expires every 90 seconds.
When prompted, just open the app, and apply the 6-digit code Google has provided for this moment in time. Very safe, and very easy going.
At this point we have a secure account on Binance We are ready for trading in any currency encrypted digital we want! Let's dive into how to use Binance …
How to deposit money into your Binance account
Remember, Binance is a trading platform only, and to be able to trade your cryptocurrencies on Binance , you must have Bitcoin in your account.
Once you have Bitcoin , sending it to your Binance account is as easy as drinking water. On the Binance home page , just go to the top-right corner.
Learning how to use Binance is easy, which is why it is one of my favorite trading platforms.
That's the beauty of exchanging coins on Binance . It is easy to use, and its ability to work with all cryptocurrencies . Whatever vernacular currency you wish to transfer to your account, you can do so easily.
In this example, we are using Bitcoin. You can scroll down to find the cryptocurrency of your choice...
You will then see the Bitcoin deposit address ! To be clear, this is like your bank routing number for Binance. By simply using this address, you can now receive ( "Deposit") or send ( "pull") any currency encrypted digital backed Binance (which are basically all).
How to trade on the Binance platform
Do your research before deciding which currencies you want to invest in. I recommend you look at Coinmarketcap for details of the various currencies available and to check out recent developments, news, and price action for the currencies that interest you.
Now let's take a look at how to navigate the site, and most importantly, how to trade on Binance.
Binance's interface is fairly straightforward. To start trading, you need to go to the top left and click on "Exchange...
...and click on the "Basic" tab. Who will take you here.
Never fear - it's much simpler than it looks, I understand these diagrams may seem like something very complicated, but once you get an idea, you'll realize that Binance is very easy to use, and the charts are easy to read.
Let's focus our attention on the two most important parts of the screen...
First you need to decide which currencies you want to trade with. Usually for the novice, this would mean that you take Alpetkoan that you recently checking in , and diversify your encryption portfolio by investing in encrypted digital currencies new (someone you clever!).
Let 's assume that you want to take some of this Alpetkoan and buy digital currencies encrypted best performance for the year 2017 - Ripple . Type XRP in the box below "favorites" in the upper-right corner.
I have a Bitcoin balance of 0.01238370 BTC . Let's see what happens when I deal with the various options in the Binance interface .
Binance offers a fast and easy way to trade, by clicking on 25%, 50%, 75% or 100%.
For example, let's say we're at Ripple (XRP) and want to use all of my bitcoin to buy as much Ripple as possible . Click 100%.
As of writing this, 25% of 0.01225392 BTC gives me 21 Ripple . Simply !
An exchange fee on Binance
As I mentioned before, Binance exchange exchange fees are very reasonable, and Binance only charges 0.1% on the value of trades, less than many other popular exchange platforms. You can deposit coins into Binance for free, and you can even cut your trading fees in half if you pay with Binance 's very own coin - The Binance coin .
Summary of the guide
Binance is one of the most popular and secure, easiest to use and most accessible trading platform, at the moment, it is the preferred platform for trading cryptocurrencies .
Binance is relatively new, but it is poised to become the largest digital asset exchange service available on the market. Most importantly, Binance will likely eventually limit the number of users who subscribe to it, like a lot of other exchanges, so I recommend that you open a Binance account today even if you don't use it anytime soon - then at least you have the option.
Trading cryptocurrency is a very great way to invest in your future, just make sure you follow the golden rules of trading cryptocurrencies...
- Always use 2FA!
- Risk money you can afford to lose.
- Be patient, stick steady and don't panic on dips.
- The more research you do, the more money you'll make.
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