You really need a good Binance tutorial to understand this cryptocurrency exchange. Binance is the most popular cryptocurrency exchange in the word, available to buy and sell cryptocurrencies. It has been able to maintain a strong reputation throughout the past by delivering an excellent help for cryptocurrency investors and other people who wants to work with cryptocurrencies. It can provide you with a simple and a hassle-free interface to buy and sell cryptocurrencies as well.
If you are looking forward to use Binance, this guide is for you. In this guide, you will be able to learn everything about using Binance and how to trade cryptocurrencies. Along with that, you will be able to get a better understanding about the features available in Binance as well.
How to open your account in Binance?
This part of the Binance tutorial we explain creating about Binance trading account easily. You can follow these steps and you will figure out how to create an account in Binance and start using it.
1. Register yourself
Before you start using Binance, you need to register with it. This is where you should navigate to below Create A FREE Binance Account Now button.
You will also be asked to complete a captcha while signing up, so that you can show that you are not a bot.
2. Verify your email
Once you complete the sign up form, a account activation code will be sent to the your mail address you defined. You should navigate to the your email inbox, click on that verification email and copy your activation code. Then past your code in the request section in the Binance. Now you have successfully activated your account.
3. Secure the account
When you log into the newly created Binance account for the very first time, you will be asked to set up two factor authentication. This is one of the most prominent security features available on Binance and you should never ignore it. It will come to your survival in future.
You can set up the two factor authentication code to your mobile device as a SMS or provide Google authentication app. You are provided with the chance to use any option out of these two based on your preference and move forward.
Once you complete two factor authentication, you are good to go ahead and start using Binance. This is where you can fund the account. In other words, you can start moving cryptocurrencies into Binance account. You will be able to do this from a cryptocurrency exchange or a crypto wallet, such as Coinbase.
How to add funds to your Binance account? – Binace Tutorial to Deposite
You will not be lost your funds with this Binance tutorial about the deposit. Once you complete creating a Binance account, you need to learn how to add funds to it. Then only you will be able to proceed with using it. The process of adding funds to the Binance is relatively straightforward. If you have used any other cryptocurrency exchange, you are familiar with the process.
Here are the steps that you must follow in order to add funds to the Binance account. To make the life easy, we will consider Ethereum (ETH) as an example. You need to follow the same steps for any other cryptocurrency.
1. Visit Coinbase
You can navigate to Coinbase and sign up with your credentials. Then you must click on the tab called Accounts. In there, you will be able to see an option called Send. Under that, you can find an option named ETH wallet.
As soon as you click on ETH wallet, you will be asked to specify a recipient. Since you are sending ETH to your Binance account, you should obtain the address from the Binance account and enter it here. The second step will assist you to learn how to get your address.
2. Log into the Binance account
As the second step, you should log into the Binance account. In the menu bar, you can find an option called wallet. Then you need to click spot wallet in drop down menu.
Now you need to enter the cryptocurrency, where you wish to obtain an address. You can enter ETH as per the example. Then Binance will go ahead and create a unique ETH address, which you will be able to use to send funds.
You need to copy this address and enter into the Recipient Box that you can find in the Coinbase account.
3. Send Ethereum
Now you need to enter the amount of Ethereum that you are looking forward to send to the Binance account. Then you should hit on Send button.
Ethereum network will take some time in order to process your funds. Once it is processed, you will be able to see ETH that you transferred into the Binance account from your Coinbase account.
How to trade on Binance – Biginer Binance tutorial
On Binance, you can find two different trading strategies named Basic and Advance. You can understand this trading part of the Binance tutorial.
Beginners to cryptocurrency trading should pick Basic and go ahead. Then you will be able to learn the basic and all important details that you need to know. You will be able to follow the steps without facing any complications and understand your very first experience in cryptocurrency trading.
Advanced trade setting is designed for the use of expert traders. If you are into complex trades, you need to be using it.
Here are the steps that you should follow in order to go ahead with trading on the Binance account.
1. Log into the Binance account with your credentials.
2. Now you need to click on the Exchange link, which you can find on the taskbar. Then you can enter Basic.
If you are a complete beginner, you might feel that it is not basic at all.
3. Pick the trading pair
On Binance, you can find a large number of trading pairs. You need to go through them and pick a trading pair to move forward. The trading pairs will explain the number of coins that Binance is offering to exchange a specific cryptocurrency. For example, you might see that you can trade Bitcoin for 143 coins on Binance.
For the example, we will consider Ethereum and move forward. In order to do that, you should pick ETH from the top right corner. Now you will be able to see that ETH is linked with 140 trading pairs on Binance. You need to pick the coin where you need to exchange Binance for. You can select Bitcoin or Ripple or any other coin.
4. Specify the type of trade
You can get numerous trade types from Binance, which include:
Limit orders In here, you can define the maximum price or minimum price that you are looking forward to buy or sell the coins. You will need to wait until a seller or buy accepts the offer.
Market orders You can use this option to define current market prices. This is the most convenient method available to go ahead with.
Stop limit orders You can use this option to allow traders to sell or buy a coin once it reaches a certain price tag. This method is popular among expert traders.
5. Specify the amount that you wish to trade
In case if you are happy to go ahead with current market prices, you need to click on Market tab. Then you should enter the amount of BTC or Ripple that you wish to buy. You can even enter the amount as a percentage when compared to the value of ETH in the account.
These are all the steps that you should follow to trade on Binance.
You can visit our blog using this link. You can read and learn about making a massive income with Binance we posting all tips, new trading methods, news, and signal to make success trade in Binance.
Who can use Binance?
Binance is a comprehensive platform, which is designed for the use of any person who is into cryptocurrencies. Both inexperienced and pro crypto traders will be able to use the features offered by Binance and go ahead with their trading activities. In other words, people can use Binance regardless of their experience.
The first time traders might have to go through some struggle at the time of using Binance. That’s because you are not familiar with cryptocurrency terminology. However, Binance has been designed to provide a clear introduction to you with that and make sure that you blend perfectly well along with time. Therefore, you will be able to become a cryptocurrency trader along with time.
Binance will provide an excellent learning experience while you are on a mission to become a cryptocurrency trader as well. It will provide excellent support and assistance to you with learning everything you want.
Back on June, 2019, Binance went ahead and launched the very first trading exchange out there in Uganda. As of now, Binance Uganda is providing opportunity for the traders to buy cryptocurrencies with their flat currencies. This is the very first time that people in Uganda are provided with such an opportunity. Once you start using Binance, you will fall in love with it and you will never come across the need to visit any other platform for your cryptocurrency exchange related requirements.
Binance Tutorial Final words
We think now you just take a basic Binance tutorial about this awesome exchange. In the crowded cryptocurrency exchange market, Binance is a unique player. It is providing a range of excellent features, which are in a position to make the life easy for all cryptocurrency traders out there in the world. Binance is open for people who come from every corner of the world. You can go ahead and try out the experience offered by Binance. You just need to make few trades and you will get addicted to it!