All About Binance: A Trading Lesson
Binance is an awesome exchange for everything cryptocurrency. If you ask most people, Binance is the world’s leading cryptocurrency exhcnage in the world right now. Cryptocurrencies are currently exploding, with many rising in value drastically in short time periods. The high level of volatility in the cryptocurrency market means that trading this way, especially CFD and binary trading, can be extremely profitable.
Many people love using this online exchange as opposed to other exchanges due to many different reasons. It is safe to use, it is secure, trading fees are low, and you can definitely make money on this system.
We are here today to talk about everything to do with this particular cryptocurrency exchange including how to sign up for it, how to fund the account, how to trade, and much more. We are here today doing a Binance review to teach you everything that you need to know about it, including the new cryptocurrency that Binance has created. That is right, now you can actually invest in a Binance cryptocurrency and start making money that way!
How To Sign Up With Binance
Of course, before you can fund your account, let alone start with trading, you are going to have to create your own account with Binance. Opening an account with this awesome exchange is not difficult at all as long as you follow the simple steps that we have outlined below.
- Simply go to the official website, Binance.com, and go to the bottom right of the menu, where you will see the link which will lead to registering for your account.
- You will have to fill out some personal information. You will need to supply them with a legitimate email address. Create a secure password so that only you can get into your account. After you have done that, you will need to check off the box that states that you understand the Binance terms and conditions. You will also need to complete the captcha, after which you will be able to click on the REGISTER button.
- Now you need to go to your email inbox of the address you used to sign up. This is a verification email, so click on the link in the email, and follow the steps to confirm that you have an account. When you have done this, it will redirect you to a page that says “successfully activated”.
- Now, you should take advantage of the popup window that lets you set a second authentication factor. You can use the SMS verification if you choose, but the Google authentication option is the far more secure option. You will need to download the Google authentication app, but this easily done from an app store. Now, using the Google authenticator, every time you want to sign into your Binance account, it will generate a different key that you will have to enter.
How To Fund Your Binance Account
You will of course need to have funds ready to go so you can actually place trades. Probably the most important thing to know is that you cannot use normal FIAT currencies to fund your account. This means that you cannot use your native currency to fund the Binance account. You need to have BTC or other cryptocoins already in an existing crypto wallet. If you don’t have any crypto coins, there are many exchanges like Coinmama, Challengly, Coinbase, LocalBitcoins, or Coindesk where you can buy them.
Now that you have your coins, you need to send them to your Binance exchange account. You can go to your funds and deposits page to look up your Binance address. Then, go to your BTC wallet (if that is what you are using), copy and paste the address, and send the funds. It really could not be any easier than that.
How To Trade With Binance
Trading with the Binance exchange is really not very hard at all. In fact, it is hailed as being one of the easiest exchanges for beginners to use. The first step is to open the basic exchange screen which displays all of the cryptocurrencies available for trading. If you go to the top right of the screen, you will see the list of cryptocurrency pairings.
The default is going to be set to Bitcoin (BTC), so all trades will be made against Bitcoin. However, if you like, you can change the default to any cryptocurrency you see fit. Now that you have selected your base cryptocurrency, you can select the currency you want to trade it against.
Now, click on that currency and open the trading page to place a trade. Keep in mind folks, this is a lesson on how to use Binance, not on how to trade cryptocurrencies. There are many market indicators, both technical and fundamental that you need to use, plus you need to have a good trading strategy too. However, as you can see, trading with the Binance exchange is about as easy as can be.
The New Binance Cryptocurrency
One thing that we are very excited about when it comes to Binance is that they are currently in the beginning stages of their own cryptocurrency. At this point, the price of a single Binance coin is just $8. However, the experts, including us, are predicting that the price will rise to above $50 per coin by the end of the year.
They have a lot on the go right now, and being one of the world’s biggest and most reliable crypto exchanges means that there is definitely value behind the coin. If you would like to invest in a cryptocurrency, Binance is a good one to go with. If the predictions are as accurate as everybody says, this coin is going to be worth a whole lot more than it is now in just a few months from now.
Trading With Binance – Conclusion
If you want to start making money through the trading of cryptocurrencies, you should definitely take a closer look at Binance. It is easy to use, reliable, and you can get the hang of it in no time at all. Also, if you want to invest in a new cryptocurrency, the Binance cryptocurrency is going to explode in value really soon.
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