Binance

Binance Cryptocurrency Exchange Review

Considering the fact that kriptovalyuta gained a truly high popularity, the emergence of cryptocurrency exchanges was a natural outcome. And today there are so many such exchanges that a novice trader can simply get lost when choosing such an exchange. A trader can simply run up his eyes. On the other hand, there are also exchanges that are time-tested and are incredibly popular with traders. such an exchange is Binance, which I will discuss below.

Binance at a Glance

The history of the exchange begins already in the distant 2013, when the cryptocurrency was only at the beginning of its journey. however, prominent figures already then saw the prospect of digital assets and exchanges began to appear. It was then that the future head of the company Champeng Zhao learned about the cryptocurrency, and she became so interested in him that he sold the house and invested the proceeds in bitcoin.

Subsequently, Zhang worked at OkCoin and developed blockchain technology in every possible way, and in 2017 he thought about his own exchange that would satisfy the needs of the masses. And although Zhang constantly postponed the launch of the exchange, the boom in ICO made him decide and during the crowdsale, Zhang collected the necessary $15 million to launch the exchange in just a month.

And so, Binance launched, and Zhang became one of the most prominent figures not only in China, but in the entire cryptocurrency community. The exchange has become so popular that it is the leader and this is not surprising, because in our time there are many exchanges, and those exchanges that cannot withstand competition are constantly closed. And although the exchange initially worked only with cryptocurrencies, in 2019 it began to accept fiat, which gave it considerable popularity without that, and the trading volume of the exchange is a leader among competitors.

Registration and verification on the exchange

Of course, in order to use the exchange, it is necessary to register and verify, because this will allow traders to secure their own account. In order to register on the exchange, go to Home and click on the button Register, and in the window that opens, click Create a personal account. Next, fill out a simple form, namely:

  1. Enter a valid email.
  2. Come up with a complex password.
  3. We agree with the rules of the exchange.
  4. We press next.

After that, on the next page we request the code, enter it in the field and click on the button Send. After that, we will get into the personal account. First of all, I recommend going through verification, because without verification we will not be able to use the exchange to the fullest. To pass verification in your personal account, go to the section Verification.

Next, click on the Start button. After that, you need to fill in personal information, fill in the passport data, and go through the facial recognition procedure. The verification process itself takes up to 10 days.

Also, after verification, I recommend that you immediately secure your account as much as possible, for this, in your personal account, go to the section Security and configure the desired security settings.

How to buy cryptocurrency?

You can buy cryptocurrency on the exchange in many ways, namely: using a bank card, thanks to p2p trading, as well as buying from a balance. Consider an example of buying cryptocurrency from a card. To do this, in your personal account, go to the section Buy cryptocurrency. Next, select Replenishment from the card. In the window that opens, select the input currency, as well as the payment method. Click Continue. After that, it remains to choose the amount of cryptocurrency, choose the cryptocurrency itself and pay for the purchase.

Withdrawal of funds from the exchange

Withdrawing funds from the exchange is quite easy to learn. To withdraw funds from the exchange, you need to go to the section TST Wallet and click on account type. After that, we will have a list of coins, and opposite them the button Withdraw. By clicking on this button, you will need to enter the recipient's address in the next window, select the network, the number of coins to be withdrawn and click on the button Send. After that, a message will come, depending on the type of security, confirming the transaction.

How to trade on the stock exchange?

The process of trading on the exchange is practically no different from trading on other exchanges. The main types of trading here are the spot market, as well as margin trading.

Spot trading is provided both in the classic mode and in the advanced one. So, in the classic mode, the interface and indicators are as loyal to the trader as possible and contain only the most important information. The advanced mode is distinguished by a wide range of tools that will help the trader to trade as efficiently as possible.

In order to trade on the stock exchange in your personal account, go to the section and select the classic or advanced mode. Further, the bidding process will be identical:

  1. Choose a currency pair.
  2. Next, choose the direction of trading Buy or Sell.
  3. We mark the type of order.
  4. Enter the desired amount for which we want to buy or sell cryptocurrency.
  5. Enter the amount of cryptocurrency.
  6. We confirm the deal.

In this case, the transactions themselves can be both long and short. In the first case, a trader can earn from the growth of the cryptocurrency, while in the second case, a trader can earn from a decline in price.

Another great tool is margin trading. It is in many ways similar to spot trading, but differs in that you can trade with leverage here. So, the leverage can reach up to x10. Those. the trader will manage a large number of assets that he actually owns. On the one hand, this allows you to earn more, on the other hand, losses can be much stronger. The very process of buying and selling cryptocurrency is identical to the spot one.

In addition

Another interesting innovation, which is now very popular, are launchpads and launchpools. Thanks to these tools, you can earn on tokensales. How it happens: we get in line and if we are lucky, we will have access to buy new coins. What is interesting here is that the purchased coins are frozen for a while and unlocked in parts. In fact, such a tool is extremely profitable and can bring huge profits to the user, the main thing is to get on such a token sale.

Conclusion

Cryptus Exchange Binance is an exemplary exchange, which is simply very popular. The exchange is loyal to beginners, but nevertheless satisfies the needs of advanced users. Moreover, if you do not understand the structure of the exchange, then you can go through the Binance Academy, which includes a huge course that guarantees complete immersion in the world of cryptocurrency and will allow you to understand all the intricacies of cryptocurrency trading. If you love cryptocurrencies, I definitely recommend Binance for trading as it is one of the best exchanges today.

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David
David
Author of this investment blog. I have been investing online since 2012. I share my personal experience with readers. I have been consulting since 2016. I can put together an investment portfolio for you free of charge. Write, I will only be glad)
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