Binance exchange: Beginner’s Guide from a to z

TutorialsAugust 3, 2021

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Binance exchange: The “Binance Beginner’s Guide” is like a map showing you how to buy crypto quickly. In this article, Investiki.com will share with you from the first step of opening a Binance account, verifying, depositing money into the account, trading, to checking transaction history, profit, and loss…

After reading this, you will be able to use Binance’s basic trading features and buy your favorite coins yourself. This is the first step on your crypto investment path.

Binance exchange: Beginner's Guide to Binance Exchange

Learn about reputable cryptocurrency exchanges

To buy crypto, you need to have a trading account and thoroughly verify before opening an order to buy/sell your favorite coins.

A cryptocurrency exchange is an intermediary that connects investors to the market or other investors. Like the stock, commodity, or forex market, to buy cryptocurrencies, you need to find a suitable exchange to open an account.

The number of cryptocurrency exchanges is wealthy globally. Have many are fraudulent, fraudulent, or illiquid. Therefore, you need to learn some information about the exchange as follows carefully:

– Does the cryptocurrency exchange have an excellent reputation in the community? To verify this, you need to search for information on Google or refer to the review information on famous forums. A reputable exchange will undoubtedly have many people used and appreciated.

– Does the cryptocurrency exchange have the coin you want to trade? What is the transaction fee of the exchange? Is the transaction feature convenient and safe?

– Is the liquidity on the exchange you choose high? To know this, you find out the number of users and their average total daily transactions.

In this article, Investiki.com introduces you to a famous cryptocurrency exchange globally, offering more than 100 coins and tokens, with meager transaction fees, only about 0.1% of transactions, and discounts. 25% if using BNB coin. In addition, the exchange has highly high liquidity, reflected in the trading volume of up to 10 billion USD/day and processing 1.4 million orders per second.

How to use Binance exchange step by step?

Open a Cryptocurrency Trading Account

If you want to open a Binance account, refer to the instructions below:

* See more: The complete guide Binance from a to z

After registering for a Binance account, it is necessary to enable 2-layer security:

After successfully opening a Binance account, the account defaults to the primary level. However, to not be limited in features and trading volume, it is necessary to complete account verification at the Intermediate level:

Instructions for using Binance exchange: Buy the first coin

To start trading on Binance, coins are required in your account. To deposit coins, you need to buy coins via P2P.

  • The Binance P2P trading method can currently buy the following coins: BTC, ETH, BNB, DAI, DOGE.
  • In addition, P2P Binance allows buying 2 stablecoins with 1:1 conversion value with USD, including USDT and BUSD.

To buy coins via P2P, you need to add a payment method to your Binance account.

Then, you can buy coins/stablecoins via P2P according to the following instructions:

Trade and own any coin on exchange Binance

If you want to buy a coin that P2P Binance is not available, you need to transfer the coin purchased via P2P from the P2P wallet to the [Fiat and Spot] wallet according to the instructions below:

Then you trade Spot to buy the coin you want:

Check deposit/withdrawal history, trading history, and view profit/loss on Binance.

After buying the coin you want, you check the transaction history and see the profit and loss according to the following instructions:

Withdraw cash to your bank account from Binance

When the coin market is about to drop, you want to sell your coins to preserve your profits. Do you need to sell coins to collect money in your bank account, or is there another way? What should I do to withdraw cash from my bank account? Please refer to the following article for instructions:

To learn more trading features on Binance, see also: The complete guide Binance from a to z

Conclusion

Above is a guide to using Binance exchange for beginners. However, these are just manipulations. To take profit, knowledge of market analysis, detection of investment opportunities, and a complete trading strategy are required.

Investiki.com

Read more: Binance

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