Binance is a known cryptocurrency exchange site owned by a Chinese company, the trading site has been running for over one year and it has proved beyond doubt that it’s a tested and trusted site for cryptocurrency trading. Binance is widely used because of its low trading fee. Choosing the right trading market to trade cryptocurrency could be challenging, especially to novice that are new to the cryptocurrency world and even to some veteran cryptocurrency traders.
In our review of the easy steps to trade successfully on Binance, we will attempt to list out the procedures to take to trade on Binance. The trading platform has two options for digital currency trading-Advance and Basic, the main difference between the basic and advance version on Binance is that advance offer more in-depth technical analysis of digital currency value over time, while the basic version offers several graphs and charts for the pairs that you are trading with, the order books and the trade history on Binance. Let’s look at the steps on how to trade on Binance.
The first step is to go to the registration page on Binance (www.binance.com)
Note: make sure you bookmark the page to avoid pishing site that mirror the actual site.
Fill out the details
(1)Carefully fill in your details on the registration page displayed,
(ii) Log on to the website with your email address and password and fit in the puzzle.
(iii)Enable 2Fa short code on the login page
After successful login, you will see a Binance page on the menu bar, click on exchange, and 2 versions will be displayed which is the basic and advanced version; for starters, click on the basic, an exchange page will be displayed. Choose the coin you would like to trade with on the menu tab. NOTE: A minimal amount of btc or other alt coins must have been transferred to your Binance account before you can make any trade. We will talk more on deposit and withdrawal in the next article.
Go to coinmarketcap to check for the initials of the coin you want to trade, e.g. bitcoingold (BTG), enter the initials on the search bar and also select the coin you want to pair with Bitcoin (BTC), Ethereum (ETH), or USDT.
(1)Click on the buy order to buy a coin or sell order to sell a coin.
(ii) Set the price you want to buy/sell
(iii) Fill in the amount of coin you have for sale or want to buy and click on either the buy order or sell order. Your orders will be automatically fulfilled if there is any order for that price you fixed.
To set your price, check for the current price the coin is being sold for at the left hand side of the menu bar.
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