Binance is a digital asset exchange service that has seen massive success in its brief history.
It was founded in China in 2017 and moved its headquarters to Malta in 2018. In under two years, it has become the world’s largest cryptocurrency exchange by traded value. This is a testament to the platform’s reliability and security. Binance has never been hacked, and its customer support is second to none.
What is Binance?
Binance is a cryptocurrency exchange that allows you to buy crypto and sell various cryptocurrencies.
You can also use Binance to store your cryptocurrencies in a wallet on the site. To sell on Binance, you first need to create a Binance account and deposit some bitcoin or ether into your Binance wallet. Once your funds are in your Binance wallet, you can proceed to trade them for other cryptocurrencies. You can also use Binance’s academy to learn more about trading cryptocurrencies and using the Binance exchange.
10 Reasons to Trade on Binance
- Low fees
- Great variety of coins
- Great UI/UX
- No minimum trade size
- Limit orders
- Stop orders are available for both market and limit orders
- Margin trading is allowed for select digital currencies
- You can withdraw cryptocurrency without limits
- Advanced charting tools
- Great customer support staff
Why use Binance
Binance is one of the world’s leading exchanges by traded value. It offers high-frequency trading services and has never been hacked. Its customer support is second to none, making it a great choice for those looking for a reliable and secure cryptocurrency exchange.
How to Use the Binance Trading Platform: A Beginner’s Guide
The Binance trading platform is one of the most popular cryptocurrency exchanges in the world. It offers a wide range of features that make it ideal for both beginner and experienced traders. In this guide, we’ll go over how to use the Binance trading platform, including how to deposit funds, make trades, and withdraw profits.
How to Get Started with Trading on Binance
To get started with trading on Binance, you first need to create a Binance account. Once you have registered and logged in, you can deposit some Bitcoin or Ethereum into your account. This will allow you to buy cryptocurrency on the exchange.
Once you have deposited Bitcoin or Ethereum into your account, you can start trading. To buy crypto, simply find the cryptocurrency that you want to buy and click on the “Buy” button. You will then be able to enter the amount that you want to buy and the price that you are willing to pay.
A Binance pending payment is a payment that is currently in the process of being transferred from the sender to the recipient. The funds are not yet available in the recipient’s account, but they will be as soon as the transfer is complete.
Which Binance payment method to use?
A payment method on Binance can be done in several methods. The most common payment methods include:
- Credit Cards
- Debit Cards
- Bank Transfer
- WeChat Pay
How Binance buyer makes payment
When a buyer makes payment purchasing a cryptocurrency on Binance, they will need to send their funds to the designated address. The funds will be stored in an escrow account and will not be released until the buyer confirms that they have received the cryptocurrency that they purchased. The buyer can then release the funds from escrow by clicking on the “release” button.
Is it safe to buy Crypto?
There is a lot of speculation when you buy crypto. Some people believe that it is safe to buy, while others believe that it is a bubble that is waiting to burst.
Regardless of what you believe, it is important to do your research before making any decisions about investing to buy crypto.
How to identify red flags when investing in a new currency
- Look for a currency with a strong team
- Be wary to buy crypto from currencies that have no product or service to offer
- Before you buy crypto, check whether the cryptocurrency has been hacked before investing. Research companies that may be connected with the coin such as wallets, exchanges, etcetera.
The Pros and Cons of Trading on Binance
|Binance offers high-frequency trading services such as FIX API and REST API to accommodate high-volume traders who are looking for quick trade confirmation||Limited variety of coins available for purchase|
|The company was founded by Changpeng Zhao in 2017 and it currently supports trading between Bitcoin, Ethereum, and Binance Coin||No mobile apps|
|It also offers a very user-friendly platform with a variety of features||Little to no customer support|
How to Sell on Binance Exchange
Binance offers a variety of features that allow you to trade cryptocurrencies. In this article, we will focus on how to sell cryptocurrency on Binance.
To sell cryptocurrency on Binance, follow these steps:
- Log in to your account and click on “Exchange” at the top of the page.
- Select the currency you want to sell from the list on the left-hand side of the page.
- Choose the type of order you would like to place from the list on the right-hand side of the page.
- Enter the details of your order and click “Buy” or “Sell”.
- Review the details of your order, including the price and quantity. Then click on “Buy XRP” or “Sell XRP”.
Your order has now been placed. You can view your open orders by clicking the “Open Orders” button at the top of the page, and you can cancel any active orders by clicking the red button beside it to send them back to your available balance.
You’ve completed your first trade on Binance!
The Different Types of Orders You Can Place on Binance
There are four types of orders you can place on Binance:
How to Refer Friends to Binance and Get Paid in Crypto
Binance offers a referral program that rewards users for referring new friends to the platform. The program pays out 20% of the transaction fees generated by the referred users. The process of referring friends is simple. First, login to your Binance account and click on the “Referral Program” tab. Then, copy your referral link and share it with your friends. When they sign up and complete a transaction, you will earn a commission.
Using Fiat Currency
Fiat currency is a term used in economics to describe a currency that is not backed by a physical commodity. The most common example of a fiat currency is the U.S. dollar, which is legal tender in the United States but is not backed by any precious metal.
Binance offers a fiat-to-crypto currency gateway where users can buy bitcoin using supported fiat currencies like Chinese yuan, US dollars, Euro, and Japanese yen.
The company is looking to expand its fiat operations to more countries in the future. This will allow users in those countries to buy bitcoin using their local fiat currency.
The Binance Academy: How to Sell on Binance Like a Pro
Binance Academy is a learning resource offered by Binance to help people learn about cryptocurrencies and blockchain technology. It consists of a library of articles, tutorials, and videos that cover a wide range of topics. The Academy also offers quizzes and a certification program to help people test their knowledge and earn a credential from Binance.
P2P trading with Binance
Binance offers peer-to-peer (P2P) trading for users who want to trade cryptocurrencies directly with each other. P2P trading allows users to trade cryptocurrencies without relying on a centralized exchange. This can be helpful for users who want to avoid the high fees associated with centralized exchanges or who are unable to use centralized exchanges due to geographical restrictions.
Binance’s P2P trading features are available through its mobile app and desktop website. To use P2P trading, users must first create a buy or sell order. Once an order is created, it will be placed in the “Open Orders” tab. From there, users can either cancel the order or fill it by matching it with an existing order.
Selling BTC (Bitcoin)
If you want to sell BTC (Bitcoin), you’ll need to create an order. An order is a request to buy or sell a certain amount of cryptocurrency at a given price. When you create an order, you’ll specify the following:
- The cryptocurrency you’re buying or selling
- The amount of cryptocurrency you’re buying or selling
- The price per unit you’re willing to pay or receive
What is Binance?
Binance is a cryptocurrency exchange. It is a global platform that enables users to trade cryptocurrencies. Binance was launched in the year 2017. It is headquartered in Hong Kong. The CEO of Binance is Changpeng Zhao.
How does their referral commission work?
When you refer someone to Binance and they complete a trade, you receive a commission from Binance. The commission depends on the amount of cryptocurrency that is traded. For example, if you refer someone who trades 1 Bitcoin, you will receive a commission of 0.025 Bitcoin.
How long do withdrawals take to be completed?
Binance withdrawals can take anywhere from a few minutes to a few hours to be completed.
This depends on the network congestion and the amount of traffic on the Binance servers. Generally, smaller withdrawals take less time to process, while larger withdrawals can take a bit longer.
Do you need verification for trading on this exchange?
Yes, to use the advanced trading features, users are required to complete a verification process.
To complete the verification process on Binance, users are required to provide personal information, such as their name, date of birth, and country of residence. Additionally, they must also provide a photo ID and proof of residence. This is necessary to ensure that only authorized users have access to the advanced trading features on Binance.
Is there a phone number for customer service on Binance too?
You can also contact Binance Custome Service by emailing to firstname.lastname@example.org with your question or concern.