Hey guys, I'm gonna tell you today how to use Binance. One can define Binance as an international online service crypto currency exchange, which is considered one of the most popular among traders.
One cool feature of Binance is that its got a comfortable interface. Everything is designed to be simple and functional at the same time, so that new users would be able to register very simply.
To begin registration, click “register” (on the right hand corner). Usually, users are registering by entering email address and password, then continuing by placing a tick to state that you agree with terms and conditions and after press register.
After that, the system will ask you to drag the puzzle to the Box. This is done to ensure that you are not a robot.
To finish off the registration, you will need to Press the button verify email which you will receive in your email inbox. Simply click on the button and registration will be completed.
After the initial registration, every user will receive the Level 1 Verification Status, which grants the right to take out up to 2BTC in 24hour period. Should you wish to operate larger sums, you will need to be Level 2 Verified. The Lever 2 status will give you the right to operate larger sums for up to 100BTC for 24hour period. In order to get level 2 Status, you will need to complete full verification on the website. For new starters and new users, it should be sufficient to have 2BTC limit for 24h period (equivalent to $7000 dollars according to days exchange rate).
We would strongly recommend completing all safety related requirements on Binance. For that you will need to do two simple steps in your personal profile:
• Double Factor Verification
Double factor verification implies the idea that after you have entered login and password, an additional confirmation will be requested by Binance to enter.This is done to protect you against attempts to hack your account. In binance, it is possible in two ways: SMS phone verification, or using Google Authenticator. We would strongly recommend using Google Authenticator.
• Anti Phishing code: is the code which helps to protect you from Phishing attack.
Setting up “double factor verification”.
First step is to Download the App Scan QR code, for that you will need Google Authentication App
• The first step is to Download the App
• Scan QR code, for that you will need Google Authentication App
• The application will provide you with a combination of numbers, which will change every 30 seconds.
• Final step: is to turn on the key. For that you will need to fill in three fields :secret key, password from you are account, and the current number stream of Google Authenticator. That's it.
How to top up balance?
In order to add balance to your crypto wallet, click on the “MAN SYMBOL” and choose the button “Estimated Value”.
You can also do this in a different way using “Funds – Balance” (as illustrated below)
Then you will be redirected to the page with all currencies. Here is the list of all crypto currencies. From the list above you will be able to choose any currency you wish to top up. As example, I've highlighted BTC to illustrate
To top up Bitcoin go to BTC stream and click on deposit, after which you will be redirected to the following page:
On this page (see above) you will need to copy the address of BTC wallet of your account and send to it the amount you wish to deposit.
How to buy Tokens?
In the menu go to - trading centre - press the button "advanced"
On the top right hand corner we need to choose cryptocurrency and the required Altcoin, which trades in one pair with chosen currency (See above)
Once you've pressed, the page will open with the chosen pair
Lets look into this in more details:
On the top left corner you can see the types of deals
• A limit order is an order to buy or sell at a specified price or better. A buy limit order (a limit order to buy) is executed at the specified limit price or lower (i.e. better). Conversely, a sell limit order (a limit order to sell) is executed at the specified limit price or higher (again, better).
• The market price is the current price at which an asset or service can be bought or sold.
• A stop-limit order will be executed at a specified (or potentially better) price, after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy or sell at the limit price or better.
You will have to choose three orders, after which you will need to enter cost and the necessary amount of currency. Or you have to choose the amount of percentage balance and press buy or sell depending on the desired result.
Why do you need BNB token?
The owners of BNB token receive 25% discount on trade operations which they do on the exchange platform Binance. With the help of Binance coin, you pay commission with 25% discount.
How to take out funds?
Go to funds “Menu” - and choose “Balance”
In the search tab type in in preferred currency, TRX in this case. Then press “Withdrawal”.
Then, enter the address where the funds would go to, enter submit and press“Submit.” (see below)
After that, you shall receive a confirmation on your email that the funds were taken out. In the confirmation letter, you will also see the Anti-Phishing code ( if you haven't installed it yet). All done.