Trading

Buying And Selling On Binance – Step By Step Guide For Trading!

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Binance is the world’s one of the best and largest crypto exchanges launched in August 2017 for trading and selling cryptocurrencies. Binance not only offers crypto to crypto trading, but you can also change your fiat currencies to crypto or you can buy Bitcoin or other cryptocurrencies by using your credit or debit cards. Are you ready to learn more about trading on Binance? The world’s first company to achieve “unicorn” status in the cryptocurrency industry has its own Binance blockchain and its native token-BNB. I am not trying your patience anymore, read on this article to perceive more.

Buying And Selling On Binance!

In order to conduct trade in the Binance site, you want to create an account on the Binance official website. Below given are the step by step procedure of creating an account and trading in the Binance. 

binance

  1. Go to the Binance official website. Always check the website URL and secure certificate, as many fake sited are doing fraud activities. 
  2. Complete the sign-up process on the home page. For this, click on the ‘register’ option provided in the right corner of the home page. Fill up with all your personal information like name, address, phone number, email address, etc. 
  3. Provide a strong password and also remember it as it is mandatory for further logins.
  4. Verify your email address and phone number by clicking on the ‘register’ button.
  5.  A pop-up asking you to enable the two-factor authentication will appear at the time of the first login. The two-factor authentication increases the security of your account.  
  6. Now your account is created and it’s time to deposit funds. Select the ‘deposit withdrawal’ option in the fund menu provided on the top right corner of the main menu. 
  7. You can select the type of coin that you wish to deposit or withdraw in the ‘deposit withdraw’ option.  
  8. Once you click on the ‘deposit’ button corresponding to the coin you want to trade, a new wallet that belongs to your account on Binance will be created. 
  9. Your buy and sell transaction can be extracted by selecting the “basic exchange” option under the “exchange” menu.
  10. If you want to buy at market price, then select the ‘market’ option from the top menu.  

There is two trading setup for Binance: Basic and Advanced. The basic trading set is for beginners, as it has a simple layout which is easy to understand. But the advanced trading set is too complicated. So expert traders commonly use this set for trading. It gives access to all price charts and market data that they need to conduct complex tradings. The main advantage of using the Binance trading exchange is that it never charges fees for depositing from its users. They charge quite low fees for withdrawing coins. 

A cryptocurrency exchange allows customers to trade cryptocurrencies for other assets such as fiat currencies. It works like a broker and you can deposit money through bank transfer or other means of money deposit. Trading on Binance is quite simple for both newbies and experts. It offers to the trade of more than 45 types of crypto coins.

I hope this article on “Buying and selling on Binance” will surely help you to trade cryptocurrencies in the world’s largest crypto exchange. If you have any suggestions or feedback regarding this, please let us know through the comment section given below and we will reach out to you as soon as possible. 

Gerald Rene is a journalist based in the US and the former managing editor of a cryptocurrency news outlet. He has been involved in the cryptocurrency industry for over three years. He has written for many outlets and contributed to cybersecurity and technology publications. And his passion currently lies within scalable securities and stability protocols to help grow cryptocurrency investment and bring mass adoption.

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