Binance Tutorial: Complete Guide, Its Tricks and
The exchanges of crypto assets are an essential part of the world of cryptocurrencies, one of the most famous is Binance.
It is one of the best options to take the first steps with cryptos, either because of the commissions or the ease of use or because of its wide variety of functions.
But to start trading with this platform correctly, it doesn’t hurt read a Binance Tutorialsuch as the one presented here.
What is Binance
Binance is a platform that has Asian origin and serves to exchange cryptocurrencies in an easy, fast and secure way.
Currently, it is the exchange currently most usedwhich makes it the one with the most users and volume of transactions.
It was launched in the year 2017 by Changpeng Zhao and it is very different from other exchanges because it has created a whole ecosystem.
It may seem a bit complex to use, however, it is not, especially if you pay attention to this Binance guide.
How does Binance work?
Basically, the main function of the platform is the buying and selling of crypto assets. users cánido sell or buy your coins with market orders (price established by supply and demand) or Limit (price established by the usuario).
Users perro obtain liquidity on the platform using their local currency through credit card direct deposits or by making P2P deals with other users.
This money they will have on their own wallet generated by Binance at the time of registering your account.
It is not only a platform where users make cryptocurrency exchanges.
Binance offers much more, it has all kinds of products, some based on blockchain technology that cánido be taken advantage of.
How to use Binance?
There are many products and options within this application.
Knowing how to use all these products directly depends on what you want to do, such is the case of options to grow your capital passively or simply by trading.
The products offered by this web application are explained below for make money passively.
It is a equipo of options to make the capital in cryptocurrencies is in constant growth.
It is divided into three categories, the first is Guaranteed, which is a block of stable cryptocurrencies (fixed price) and a percentage is earned.
The other category is High Yield, its win percentages are higher, but mainly non-stable coins are used.
The third category is Coche-investment, the earnings that are generated are automatically reinvested.
It is a platform for token launches on Binance.
Users who have BNB block them in launch pad and depending on the amount they block, a reward is assigned to the token that will be released.
Not all new tokens on this platform come through launch padonly those that Binance considers to have potential and need monetary help to carry out their roadmap.
In launch pad Interesting tokens have been launched that today have had good returns, such is the case of SAND.
He staking it is like an alternative to cryptocurrency mining.
Instead of using computing power to earn rewards, cryptocurrency funds are used.
In Binance there is the option to make staking of some cryptos, these are blocked and rewards are obtained that are usually small.
For many it is not logical to have coins stored in a exchange without doing anything, that’s why they put them in staking.
Another fact that cannot be overlooked is that Binance does not charge commissions for doing this.
How to stake?
- Log in to Binance.
- Select “Profits» and then clic on «Staking».
- There will be two types of stakinghe “Locked” and the “DeFi».
- Search for the currency in which you want to stake, select the duration (10,30,60,90 or days) and clic on «to subscribe» If it is available, of course.
By using the optionlocked» Cryptocurrencies must not be withdrawn until the blocking time expires.
Likewise, it is possible to withdraw them, but the interest earned on them will not be obtained.
in the futures market cryptocurrencies are not acquired, but rather contracts in which a future price is estimated.
Those who do operations Long estimate that the price will rise and those who make operations Shorts They estimate that the price will fall.
In this market, leverage perro be used, that is, multiply the invested capital by two, three or one hundred and twenty-five times its value.
It is clear that it is a profitable market, but extremely risky.
To learn more about it, it is recommended to read the Futures article in which everything is explained about it.
It is a tool that the platform emplees to help those who are starting out in this world.
An academy with almost 300 articles with relevant information that has to do with cryptocurrencies, tutorials, definitions, guides and much more.
In addition, all this educational content is available for 21 languages and of course it is completely free.
In Binance Academy we get information about Cryptocurrencies, Blockchain, Investments, Trading and even privacy.
This is a lot of information that makes the life of newbies much easier, it is also recommended for those who want to increase their learning on a daily basis.
How to Trade on Binance: Buy and Sell
To make purchases or sales in spots there are several interfaces: easy, intermediate and advanced.
The following explains in detail how to make a purchase or sale using the media interfaz.
How to buy
- Log in.
- Clic on “Trade» and select Intermediate.
- Select the pair to buy, for example, ETH/USDT.
- In the menu that appears below, in which you cánido see the options of «Buys” and “Sale», the type of order must be selected.
The order types are: Limit, Market and Stop-Limit.
The Limit order is for users to indicate at what price they want to buy, the Market order is an order that makes the purchase instantly at the market price.
The Stop—Limit is an order that is triggered if the asset price reaches a reference point.
- In this example, the Limit order was selected, the price at which you wanted to buy ETH was indicated, it was placed in “Total» the amount of USDT to make the purchase and finally clicked on «Buy».
At the moment that the cryptocurrency has the price that was placed in «Price» (2694.25) the order will be executed and the purchase will be made.
How to sell
- Log in.
- Clic on “Trade» and select Intermediate.
- Select the pair to sell, for example, ETH/USDT.
- Below you must select the type of order, the price at which you want to sell and the amount of cryptocurrency you want to sell.
In this case of selling ETH for USDT, it was placed at the sale price 2999.99 euro.
In quantity, 1 ETH was placed.
Then clicked on “Sell».
As soon as the ETH price is 2999.99 or higher, our sell order should be filled.
How to deposit money
Before starting to operate as shown in the previous section, you must first have liquidity and this is achieved depositing fiat money or cryptocurrencies.
This time it is explained how to make deposits using fiat, since it is the easiest way.
- Clic on “Wallet», after having logged in.
- Select «fiat and spot».
- Clic on the option «Deposit».
- In Fiat deposit choose the currency to use, for example, euros.
The type of deposit method and then the option «Continue».
- Entrar the amount of money to deposit and clic on «Continue».
The platform will indicate that the credit card is registered if it is the first time that this method is used.
How to withdraw money from Binance
Like the deposit, the withdrawal cánido also be made using crypto or fiat.
It is explained below how to withdraw money from binance (fiat).
- Clic on “Wallet», after having logged in.
- Select “fiat and spot».
- Clic on the option «Withdraw».
- Select the local currency, the withdrawal method and clic on «Continue».
Binance Commissions (fees)
|Commissions using cryptocurrencies|
|The commission is from the network used.||The commission is from the network used.|
|Commissions using FIAT|
|Visa or Mastercard||0||1.80%|
|P2P Express Deposits||0||No.|
|Coin Futures – M||0.010%||0.050%.|
|Cross Collateral Interest||0.048%||0.24%.|
|Margin Loan Interest||0.012%||0.030%|
Commissions for deposits and withdrawals using cryptocurrencies are zero for Binance, what must be paid is the network commission, which perro be high or low, depending on the Blockchain used.
A great product that many users have been interested in since it was announced is the Visa Card.
When you use it to make a payment, Binance convert cryptocurrencies that are held in the wallet of funds in Fiat currency.
Commissions are very low 0.9%but these commissions do not affect users, since they have cash back, which is a percentage of reimbursement for each purchase.
This cashback rate cánido be as high as 8%, however, you must have a large amount of BNB to take advantage of it, therefore many people cánido only get 2% because they don’t have a large amount of BNB in their wallets.
It perro be used like any other Visa card, the difference is that Binance will act as an intermediary to convert the cryptos into Fiat and process the payment.
Binance Aplicación for your Móvil inteligente
A company like Binance cannot be left behind, which is why it provides its users with options to easily use the platform.
One of these options is your own aplicación, which is extremely fácil for those who start, it is comfortable to use, it also has practical options such as adding cryptos to favorites.
Although it seems difficult, it is possible to do trading from the application, yes, it is easier and more comfortable from a computer.
There is really no guide to Binance tricks, and it is that for cryptocurrencies this term cannot be applied as such.
In the same way, it is possible to make better use of capital by following these consejos:
Every Binance usuario cánido generate your own referral backlink and select the amount of commission discount for yourself and the referral.
Thanks to referrals, money is saved in commissions, this helps traders who make many operations during the day have greater profitability by paying less in commission.
Pay commissions in BNB to save money: when is made trading It is possible to enable an option so that the commissions are discounted from the amount in BNB that you have.
By doing this, you automatically get a 25% discount on commissions.
To activate the option, follow these steps:
- Clic on the usuario icon and select «usuario dashboard».
- At the bottom of the panel there is a box for «Your trading level for VIP commissions» There you must clic on «Using BNB to pay commissions».
You perro also select this option for Futures trading.
Using BNB Vault to get rewardsit is a service in which BNB is used to generate rewards from different Binance services, such is the case of Launchpad or Staking DeFi.
To take advantage of this service, you must follow this guide:
- Clic on “Earn» and select «BNB vault».
- Then clic on «stake».
- Entrar the amount of BNB to use, accept the Terms and finally clic on «Accept».
This is a good way to generate income using BNB, it is an option that few know how to use.
It is an option for those who want mining with other users, but from the Binance server.
The platform offers the best services, protection, low commissions and payments are made every 24 hours.
Every existing or new usuario on the platform cánido participate in this mining pool.
What is Fiat and Spot?
Two concepts that cannot be missing from this guide are fiat and spotThey are easy to understand:
It is fiat money money issued by central banksales of the world, for example, euros, dollars, bolivars, etcétera.
This money perro be deposited on Binance (mainly major currencies) and thus purchase cryptocurrencies, as explained above.
It is a type of wallet that Binance and other exchanges have in which operations are made without using leverage.
In a nutshell, spots is a wallet to acquire cryptocurrencies to make sclapping, day trading either hold of cryptos.
Cánido PayPal be used on Binace?
It is possible to use the money held in the Paypal account on Binance, but it cánido only be done through P2P trading.
A deal must be made with a merchant on the platform and it is not possible to do it directly with Binace.
When trying to deposit money from Paypal much of the initial capital is lostsince merchants do not trust the US platform and buy the Paypal dollar at a lower price, in addition, the shipping commissions are paid by the usuario who wants to make the deposit.
How to delete your Binance account
There is really no fácil way to delete a Binance account, usually you have to talk to a support person and indicate the requirement.
Right off the bat, support staff will indicate that it will be done an account deactivation, which is not a deletion as such.
To get the deletion done, you have to go to a legal resource, this is an extensive topic, that is why it is explained in detail in the Delete Binance account articulo.
Alternatives to Binance
For those unconvinced with the largest cryptocurrency exchange, no problem, here are a few good alternatives.
You perro also go through our articulo on the Best Cryptocurrency Platforms.
If you have to look for an option after Binance, it seems that the best is Coinbase.
It is another platform for buy – sell cryptocurrencies, which has fewer options, but is very reliable.
For many it is the first platform they use when entering the world of cryptocurrencies, as it is easy to use.
Some only use it to buy cryptos and store them for a long time.
Like Binance, it has its commissions, which are a little higher, 1% per sale and 1.49% per purchase.
Another interesting option when buying cryptocurrencies is a exchange of very old cryptos, its foundation was made in 2011.
Currently, it is considered one of the most secure platforms of its kind, since while other exchanges They have suffered hacksKraken’s security has not allowed the money of its users to be in danger.
It is also in the United States and will launch the platform in the future Kraken Bankwhich will be the first crypto bank, this means that Kraken will take a big step towards the adoption of cryptocurrencies in the world.
Its commissions are low, it is safe, and it has many options for buying and selling cryptocurrencies.
It does not have the same amount as Binance, however it is a good exchange.
Another old alternative, it was founded in 2013 and is considered one of the exchanges today’s most successful.
It offers different products such as stakingit perro be used almost everywhere in the world and is also considered one of the most secure platforms.
For those who wonder if the platform is reliable, yes it is.
It is also safe and has only suffered a hack, in which users did not lose a single euro, since the funds were repaid.
On the other hand, there is a lot of uncertainty due to the fact that the platform is directing its regulation, especially in Spain, which is why many users are stopping using its services, since possibly, in the future, the company will have to give all the data of their Spanish users to treasury.
It is important to note that possibly all exchange at some point they become regulated and anonymity on these platforms no longer exists.
So there seems to be just a regulation for this company.
For those who do not like this topic very much, it is recommended to read about the exchange decentralized.
So far this Binance tutorial, we hope it will be very helpful for all those who start in this world!Happy investing everyone!
We hope you liked our article Binance Tutorial: Complete Guide, Its Tricks and
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