Which other better way to trade, sell or buy cryptocurrencies if not through Binance? Offering an optimized platform that enables account creation with lots of ease, supports recurring purchases and at a super low cost, Binance seeks to make a trader’s journey super easy even for beginners. It not only covers beginners but also offers a dedicated OTC interface for the gurus along with advanced real-time capabilities such as trade history, charting tools, and order books along with on-ramp or rather tailor-made options that allow one to trade in their terms. Truly, Binance is not known as “The World’s Leading Cryptocurrency Exchange” option for no good reason, there is no other website or app that can offer advanced security, unlimited trading pairs at such a low fee. And learn how to earn with the Binance Referral ID!
How to use Binance;
Before you engage in trading cryptocurrency, you need to understand, comprehend and have basic information about cryptocurrency at your fingertips. You should be able to understandterms like market trends, technical and fundamental analyses, market cycle, trading among others. Away from the scary business terms, however, Binance works hard to mitigate difficulties that one may encounter in the industry-cryptocurrency. That is why, if one follows the following simplified steps, they should be able to buy and sell crypto on Binance.
1 Account creation;
Using either your phone number or email, one should be able to create a Binance account. All you need to do is click Register on the homepage. It is highly recommended that one creates a strong password that cannot be easily guessed since account security is one of the most important goals of the website. Next agree to Binance’s terms of operation then click register. Once you prove that you are not a robot, you have a Binance account.
2 Trading on Binance;
Like most websites, you can either go for the advanced or basic option on Binance.
This is a simplified setting of the website that only displays important information. However, this does not mean that the basic setting compromises either professionalism or security. This setting is best suited for beginners.
Meant for expert traders, it offers all types of information ranging from market date to price charts. All this information is often required when one is attempting complex trades.
3 Start buying;
Immediately after account creation, one can start trading crypto. One can buy by paying using a linked credit or debit card; paying through a bank a transfer or pay directly to the seller through P2P trading. There is no limit to the type of fiat currency one can use to make purchases. Ranging from Euros to the Turkish Iira, one can make payments on Binance.
4 Selling on Binance;
Selling on Binance is way easier than even buying. Once securely logged into your Binance account, check out the top left corner of your website, click on sell crypto. Of course, you already have in mind what crypto you are looking to let go of, select the option, for instance, bitcoins. Enter the amount you want to sell, select the currency type you want to pay in. once you confirm the order recapitulation, you have completed the transaction and the money is in your wallet.
5 Trading fees;
Any fee charged and surcharged to transact on any trading website should be a concern to all website users. Since a trader is trading to make a profit; unfavorable and high transactional charges are an unwelcome sight. Luckily though, the Binance traders, happen to enjoy one of the lowest fee charges in the market. The website offers numerous incentives aimed at supporting even the not-so-rich traders. For instance; it is free to deposit to one’s account on Binance. This may look like nothing however; it saves traders from incurring various exchange rate charges on the different fiat currencies they opt for.
There are different charges for withdrawing different cryptocurrencies on Binance. For instance, one will be charged about 0.01ETH to withdraw Ethereum and about 0.025XRP to withdraw Ripple. Just compare these charges to any other websites out there. They are super cheap. There is a 0.1% capping on all the Binance trading fees. However, this fee is cut down by 50% in a case where Binance coin 8is used by the trader to make payment. This rounds off the fee to just only 0.05%. if you study the competitors’ charges, you will realize that websites like Bitstamp and Bittrex that boast of low fees charge more than Binance since their fee is about 0.25%.
6 Binance security;
Binance is one of the most secure websites you can trade on. However, just like any other business environment, security has to start with oneself. That is why Binance has taken the liberty to come up with a few ways that the users can protect themselves against malicious intents on the website.
a/ Two-factor authentication;
For every transaction you conduct on Binance you need to confirm that you are indeed the one conducting the business twice.
b/ Be conscious;
Ignore any requests especially the ones asking for personal information. This is because no one on the Binance team will ever ask for your 2FA codes or passwords.
c/ use the Binance official site;
Avoid using unsecured links and pop-ups that claim to link you to Binance. Always check for the original and authentic Binance website.
d/ Protect your gadgets;
Having a strong antivirus in your computer will serve in protecting your data from unauthorized access. Always make sure all the gadgets you use to access your Binance website are free of any bugs and Trojan horses.
In conclusion, cryptocurrency is an industry that is currently very crowded. As it stands currently, Binance has a lot of customers from all over the world. As you can imagine, the exchanges that will be desired will be the ones that offer what every investor is looking for. The future looks very bright for Binancesince it currently offers what everyone wants at a cheap rate, why look elsewhere?
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