Today, Binance will be the second article in a series exchanges mine.
In this article, I will show you how to buy and sell on Binance as completely and easily as you can.
Hope it will help you. Let's begin!
- 1 What is Binance?
- 2 What is special about Binance compared to other exchanges?
- 3 Guide to register Binance floor
- 4 Guide to trade Bitcoin / Altcoin on Binance
- 5 Instructions for using Stop - Limit on Binance
- 6 Instructions to install Binance on iOS
- 7 Conclusion
- 8 Le Thanh
What is Binance?
Binance is one of the largest cryptocurrency exchanges in the world.
Established and operating in Shanghai, China. Binance was dubbed the Bittrex Killer, enough to show us that this floor is not a good fit either.
What is special about Binance compared to other exchanges?
To answer this question, let's take a look at some information on Binance:
- Large trading volume: The exchange was launched in July 7. But the transaction amount to date has reached more than $ 2017 million per day.
- Issue own coin Binance coin (BNB) : Binance will deduct a percentage of profits to burn coins to improve the value of BNB.
- Extremely low transaction fees: While the transaction fee of Bittrex & Poloniex is 0.25%, with Binance, the fee is only 0,1% per transaction.
- Especially : Fee only 0,05% when you use BNB to pay fees.
- Very good Support team: Identity verification is fast, unlike Bittrex or Poloniex support.
- There has been a trading App on both Android and iOS phones.
With 5 above things, it also attracted a lot of traders from big countries like China, USA, Japan, Vietnam ... to trade on the floor.
Guide to register Binance floor
Create a Binance account
To register for a Binance floor account, visit https://coin98.net/go/binance-bnb
Then click Sign Up in the right hand corner as shown below.
Next you need to fill in the information such as the picture: email, password and tick the "I agree to Binance " then press Sign Up.
Then will appear captcha code you just need to drag and drop is.
The Binance system will send an email to confirm your account registration.
You check your mail and click on the box Verify Email to complete the account registration.
Thus, you have completed the registration of Binance floor account and can begin trading and trading offline.
However, the withdrawal limit will be 2 BTC everyday. To raise the limit 100BTC then you need to turn on 2-layer verification (2FA) and identity verification.
Here I will guide you to increase your Binance account limit.
Security settings for Binance accounts
After the first login to Binance will appear a notice you need to turn on 2-layer verification immediately. Brothers to choose Google Auth.
See more posts Instructions for using Google Authenticator If you do not know how to use it!
Code QR Code will appear with Backup Key. You take the screenshot and save it backup key just in case you lose your phone you can access your account.
Now you open the application Google Authenticator and click on the sign + in the right corner of the screen.
Select scan barcode to scan codes QR Code and put the phone on a code scan QR Code.
After scanning is complete Google Authenticator will appear 6 digits (this code changes continuously after 30 seconds).
You enter your password and enter this code into the box Enter 2FA Code. Then press Enable 2FA.
Verify Binance identity
The identity verification will raise the limit of withdrawal from 2BTC to 100BTC everyday. To start the verification of brothers follow these steps:
- Sign in to your account Binance
- Click on it Submit Verification Documents
You need to fill in the following information:
Note : Here I guide verification by ID card for everyone's convenience. For Passport Or a driver's license, do the same!
- Type: Select International
- First Name: Enter your brother's name
- Last Name: Enter your first and middle name
- Gender: Choose gender
- Country: Choose Vietnam
- Passport ID: Enter the number ID card of the brothers
At the item Passport Cover brother Upload the front of ID card.
At the item Passport Personal Page brothers upload the back of the ID card.
Final Selfie With Photo ID and Note. You need to take a picture of your face with ID card and 1 sheet of paper Binance + date of the verification.
note: Photographs must have a clear face and easily readable information.
After uploading, you can check the information again for accuracy. Then press Submit.
Usually the verification takes a few hours. After the account is verified, it will look like the picture below.
Guide to trade Bitcoin / Altcoin on Binance
Here I will take Binance's coin floor BNB as an example. Because it will be similar to all coins listed on Binance.
Before buying any coin you need to have Bitcoin. That means you need to deposit Bitcoin into your account to buy the coins you need to buy. Specifically here is Binance Coin (BNB).
How to transfer Bitcoin from Remitano to Binance
To load Bitcoin, you access https://binance.com/userCenter/depositWithdraw.html Or you choose the item Funds> Deposits Withdraws
At the end of the Bitcoin line you choose Deposit to get a Bitcoin wallet
Bitcoin wallet will appear
After transferring Bitcoin to your wallet. Brothers to the section Exchange> Basic to choose the Altcoin you want to buy. Here, I choose a pair BNB / BTC.
The trading interface will appear as shown below.
Let me explain a little:
- The graph in the middle: The chart helps you keep track of how much the coin's purchases and sales fluctuate over time.
- The red column on the left hand side: Showing BNB sell orders. You can buy BNB at this column.
- The blue column below the red column: Express buy orders BNB. You can sell BNB at this column.
- The Buy / Sell columns are below: This is where you place buy / sell orders.
Buy Binance Coin (BNB)
For example : Here I buy 100 BNB for 0.00073222 BTC. I enter 100 in the box Amount and enter 0.00073222 in the box Price. Then press the button Buy to execute buy order.
After successful purchase, you will re-enter the item Deposits Withdraws To see the number of coins in your account!
Sell Binance Coin (BNB)
With command sell then you will follow the same command Buy Please. It is quite simple, isn't it !!!
Instructions for using Stop - Limit on Binance
With the addition of the Stop-Limit function, many traders (including myself) have officially parted ways with Bittrex. As expected of Bittrex Killer.
The function of Stop-Limit is to take profit / cut loss or buy more coins without sitting in front of the computer screen to buy. Especially the time when you go to sleep.
And an extremely beneficial element of this feature is to help traders hide their buying / selling prices. Especially the Big Traders (Sharks) dump the market price at the price they want.
The Stop-Limit feature works in principle IF ... THEN
If floor price reached Stop So The system will automatically create buy / sell orders at the price Limit with a certain amount of coins. ( All these parameters you guys set offline)
For example: I want to take profit of 100 BNB at 0.00072600 BTC but the current price is only at 0.00072399 BTC. I will create a Stop - Limit command. When the BNB price reaches 0.00072500 BTC, the system automatically generates an order to sell 100 BNB for 0.00072600 BTC.
Order Buy You guys do the same!
Instructions to install Binance on iOS
Binance has released an app for users on smartphones. The application is supported on both Android and iOS operating systems.
Here I will guide you to install Binance application for iPhone and Android:
For those who use Android is simple. Brother visit here Or follow the link below to download the application.
- Link to download Binance app: https://play.google.com/store/apps/details?id=com.binance.dev&hl=en
For those who use iOS is a bit more complicated.
First you visit here https://www.binance.com/ios-install.html
Then the message will appear as shown and click Install.
Because Apple device security is good, you need to authorize the application to be installed.
Follow me, please: Enter Settings-> General-> Device Management and choose trust in Foxto co., Ltd..
So you have installed the Binance app on iOS and can trade Bitcoin normally.
In summary, through this article you must grasp the following main ideas:
- How to register an account / verify identity Binance floor
- How to trade on Binance
- Use the Stop-Limit function
- Finally, how to install App Binance on iPhone.
Goodbye and see you again in the next article.