Binance is one of the popular and leading cryptocurrency exchange market that allows you to buy, sell, store and trade crypto currencies on the platform and in this guide, I am going to provide you with everything you need to know about binance, how to Sign Up, how to access your account and everything you need to know about binance.
Today, I have decided to reveal all you need to know about binance and in this detailed guide, I am going to provide you with all you need to know about binance, how to use it, how to register for a Binance account, how to buy cryptocurrencies on binance, how to sell and especially, how to trade on the platform.
Table of Contents
Binance as a crypto exchange platform consists of more than 600 crypto currencies, ranging from Bitcoin, Ethereum, Tron, USDT, cardeno, ADA, Chainlink, Polkadot, XRP, Stellar, and many other Crypto, including NFTs, SHIB, DOGE and more. You will have the opportunity to get them all on the world’s largest exchange.
Binance is trusted by millions of users worldwide. On the platform, you will be able to buy, sell and trade h Bitcoin, Ethereum, ChainLink, Rune, Cardano, Binance Coin, SHIB, and more, all with some of the lowest fees in crypto. Additionally, explore awesome art and collectibles on Binance NFT marketplace!
Binance App is available to both non-U.S. citizens and residents. For U.S. citizens and residents, please install Binance.US App.
Features of binance crypto extchange
There are lots of crypto exchange platform in the world and one cannot just emerge as the largest in the world without having some particular unique features that people loves in them that makes them the best.
In this section, I am going to provide you with all the features binance crypto exchange platform and the detailed information about each features, so as to let you understand them better and improve your knowledge on the benefits you will get from the app.
Crypto buy and sell made easier
If you have been looking forward to buy and sell Bitcoin, Ethereum, Tether USDT and other crypto currencies, then you shouldn’t search further as binance has provide you with a platform that allows you to do that with less stress.
With binance, you will be able to shop Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and more. Simply add a debit or credit card to buy and sell crypto instantly(You will be able to fund your account via P2P is you’re from Nigeria).
You will have the opportunity to choose from 200+ supported cryptocurrencies, including Bitcoin, Ethereum, Link, Tezos, Cardano and Binance Coin while always being at the forefront of new coin launches.
So far it involves in depositing and Withdrawal, on of the most important thing is to be sure your money is safe where you’re keeping it and so far, binance has performed excellently in form of making sure that their users and their funds are completely safe on the platform.
Security seems to be the binance highest priority when it comes to safeguarding your Bitcion and other cryptocurrencies. Your funds are protected by binance Secure Asset Fund for Users (SAFU Funds) which implies that the platform have your back.
Ability to earn interest on your Bitcoin and other Cryptocurrency holding
This i another amazing feature of the platform, this feature allows you to earn money on your crypto and enjoy some of the highest interest rates on the market with Binance Savings & Staking. USD Stable coin interest rates all over 5%. Can your traditional savings account beat that? Guess No way.
Alert on crypto currency price changes
you can easily use the platform to monitor the price and performance if a particular coin, in such a way that even if you have exit your monitoring screen, you can set price alerts with a single tap to stay up to date on the latest prices and trends.
Provision of a platform that is suitable for both beginners and pro
Even if you’re new to crypto, Binance app’s mobile-first design have a feature that allows you to switch between Lite and Pro interfaces with a single tap. Keep it simple or access advanced trading features, all in one app.
Binance is making it easier than ever to buy crypto. Set a recurring buy to purchase Bitcoin and other crypto on a regular basis. You choose how much you want to buy and how often, and our Binance app does the rest!
Send, Receive, Buy And spend crypto currency
The binance app allows you to send and receive crypto from friends and family, to and from your Binance wallet with QR codes, wallet address and other available method.
Binance provides individuals with the opportunity to spend Bitcoin or BNB at over 50 million merchants worldwide when you sign up for the Binance Card. Available in select markets.
Crypto wallet – store cryptocurrency
You can conveniently store your coins on the platform, the app is embedded with a wallet feature that has friendly interface, which allows you to monitor the coin you have and as well be able to keep them their for as long as you wish.
24/7 customer support
Customer support is what always matter in any platform and it keeps you reminded that you can always get help whenever you need any
Binance provides it’s users with active support team that are always available to help, whether you’re a longtime user or just getting started, you will be able to access 24/7 live chat customer support in 8 languages (English, Chinese, Russian, Spanish, Portuguese, Turkish, Korean, and Vietnamese).
Binance Registration – How to create an account on binance
Before you can start doing anything on the platform, the first thing is to create an account, this is when you will have full access to the platform and have the opportunity to start using the platform for buying, selling of crypto and trading.
Once you enter all the required details, click on continue and follow the prompts to complete your registration. That’s the first step.
Now that you have created your account, the next thing is to verify your account, this is when you will be able to use the platform. If you haven’t verify your account, you will not be able to use the platform and even if you eventually have the opportunity to deposit or anything, I strongly advised you not to do that until you verify your account.
To verify your account, you will need to login to your binance account first, sometimes, you will see the prompts to verify your account and you can always follow it to complete the verification process.
Binance login : how to login to your binance account
Since it’s your first Time, all you have to do is to download and install the binance app, the link to download the app will be provided in the binance app download section of this guide.
Open the app and select login, you will be taken to the binance login page, enter your email address and password, then click on login. On clicking on login, you will be redirected to the authentication page, verify that you’re human and click on send code button.
An OTP will be sent to your email, enter the OTP into the provided box and proceed to your account. On getting to your account, you can now proceed with the verification if you haven’t done that from the Prompts received during registration.
Binance account verification – How to verify your Binance account
To verify your Binance account, all you have to do is to login to you binance account and click on the profile icon at the top left corner of the app. You will see not verified button, click on it.
You will be taken to the verification page and all the verification documents that are acceptable for your country if residence will be provided, select the one that I s convenient for you and proceed with the verification.
If you select verification via ID card, you will be told to snap the front and the back of the card, take a selfie of yourself and submit for review. Your submission will be approved or disapprove Within 12 to 72hrs.
How to buy and sell on binance
It’s obvious that buying and selling of crypto currencies is one of the primary function of the platform and in this section of my binance review, I am going to provide you with all you need know on how to buy and sell Bitcoin and others on the platform.
If you’re on lite version of the app, I will advise you to switch to the pro version and I am going to be using the pro version in this guide. The lite version is self explanatory but not much recommended for better experience. So, your first step here is to switch to pro. Click on your profile icon at the top left corner to switch.
Click on the market button at the bottom of the app and you will be taken to the market page where you will see all coin that are available on the platform, locate the coin you want to buy or sell and if you can’t spot the Coin, simply click on the search bar at the top, enter the name of the coin you want to buy, e.g BTC.
Click on it and you will be taken to the page shown above, select the pair you want to use and proceed, on getting to the next page, you will see buy and sell button, click on buy if you want to buy and sell if you want to sell.
Select limit order if you fully understand how to use limit order, this is useful when you understand technical analysis and you want, you will be able to sell at a particular price and the order will wait till their is request that match with that if yours. The order will be executed this Time.
If you select market order, you will buy or sell instantly at the current market peak rate and I won’t advise you to use it as it attract more charges as compared to limit order.
If you don’t know anything about crypto and want to buy, you can still use limit order, all you have to do is to select limit order, enter the current market rate manually and proceed.
Once you’re done choosing between market order and limit order, enter the amount of coin you want to buy or sell and click on the buy or sell button respectively. Congratulations, you have understand how to buy and sell on binance.
How to trade on binance
Trading involved buying low and selling high to make profit and this often needs an individual to understand technical analysis very well, this includes the ability to interpret candle pattern and have the opportunity to understand all the analysis tools that are available on the platform.
Once you know all this, you can start trading on the platform by buying when the price of a particular market is low and sell when it grows. Don’t forget that how to buy and sell on binance has been explained in the previous part of this guide.
How to send cryptocurrency from binance to other Wallet
Ok! You want to send cryptocurrency from your binance Wallet to another wallet? I am going to explain that in this section.
To send cryptocurrency from your binance Wallet, all you have to do is to login to your binance account and click on wallet button at the bottom of the app, select the coin you want to send and choose withdraw on the next screen.
Once you click on the withdraw option, you will be redirected to where to choose network, if you want to send the coin to a platform, check the required network and make sure you select the one that tally with that of the platform.
If you’re sending to someone or another wallet of yours, tell the person the network you want to use, so that he, she will provide you with the correct Wallet address. Once you select the correct network, you will see a box to paste the receiving wallet address.
Simply enter the amount you want to send, paste the receiving wallet address Into the provided box and click on withdraw to complete the transaction.
How to receive cryptocurrency on binance
Ok! You want to receive cryptocurrency to your binance Wallet? I am going to explain that in this section.
To receive cryptocurrency to your binance Wallet, all you have to do is to login to your binance account and click on wallet button at the bottom of the app, select the coin you want to receive and choose deposit on the next scree
Once you click on the deposit option, you will be redirected to where to choose network, if you want to receive from a platform, check the required network and make sure you select the one that tally with that of the platform.
If you’re receiving From someone, ask the person for the network to choose or tell the person the network the address you’re sending belongs to. Once you select the correct network, you will be able to copy wallet address and this Wallet address is what you will use to receive the coin.
Note: Each coin have their Unique wallet address and you can’t use that of Bitcoin to receive Tron, you will copy them as needed, if you want to receive Tron, you will select Tron, if you want to receive BTC, you select it and so on.
Binance P2P trading
Binance P2P trading is the same thing as binance peer to peer trading and this is made available in order to fill the gap that the federal government of Nigeria has earlier created in the Cryptocurrency space. On this note, this aspect is for Nigerians alone.
If you don’t forget, you will remember that the federal government of Nigeria have ban it’s Banks from participating in crypto activities, forbidden all Nigerians from buying cryptocurrency directly from their Bank.
In other to ensure that the trade of Cryptocurrency continue in this region, P2P trading is introduced and allows you to fund your binance account and as well withdraw to your Nigeria bank account without any form of stress.
What is P2P
P2P is the process of buying and selling Within two or more individuals, on this system, you buy directly from your fellow and as well as selling to your fellow.
There are many ways to trade cryptocurrencies and peer to peer is one of them. The most common practice is to use centralized exchanges like Binance and buy or sell crypto at certain price points against another cryptocurrency or a local currency supported on the platform.
Alternatively, you can transact with your fellow crypto holders and swap your assets without needing to track charts and orders.
What is binance P2P
Binance P2P is a platform built in late 2018 to enable P2P Bitcoin exchange transactions using local currencies. Three years later, the platform supports buying and selling for six cryptocurrencies – BTC, ETH, BNB, BUSD, DAI, and USDT – using 55 local currencies via 150+ payment channels around the world.
How to trade via P2P on binance
To trade on binance P2P, all you have to do is to login to your binance account, click on the trade button at the bottom of the app and check the top of the trading page.
You will see the P2P option, simply click on the P2P and you will be redirected to the P2P trading page.
How to buy on binance P2P
On getting to the P2P trading page, you will see Buy and sell options at the top of the page, simply select buy and check the vendor with the high complete number of trade and success rate.
Then, click on the buy button attached and folly the prompts to complete the trade.
How to sell on binance P2P
Simply click “sell” to place an order, wait for the buyer to transfer payment to your payment receiving account and log in to your payment account(bank app) to verify the payment is received, once you confirm that the payment has been received, simply click on “Payment received” to release the crypto to the buyer.
Binance P2P trading Important Notification
To avoid becoming a victim of scammers, NEVER release cryptocurrency before actually receiving the payment! Do not for one second believe anyone who claims to be a customer support and convinces you to release crypto before you receive payment, they’re scammers and should be ignored.
You should fully understand that once the seller confirms the order and transfers the assets to the buyer, the transaction is considered completed and cannot be disputed. Finally, you must know Binance does not and will not take any responsibility for transactions made outside of the platform.
Video Guide On How To Use Binance For Beginners
Binance app download
In this section, I am going to provide you with the direct link to download the binance app for both android and iphone. Just make sure you have signed up via the instructions in in registration section of this guide before going ahead to download the app.
Name Binance app
Version Latest Version
Service Crypto exchange
Binance is one of the popular crypto exchange platform and with the detailed information that has been revealed about the platform so far, it’s obvious that the platform is a good one as save for all transactions that you might intend to Carry out on it.
A lot of individuals that uses the app has confirmed that it’s reliable and provide a safe atmosphere for all it’s users, all you have to do is to read this guide carefully so as to fully understand how the platform works and you can use it without having any issue or whatsoever.
Conclusion: Binance is the largest crypto exchange platform in the world and with the information revealed in this guide, I am sure you should be able to use the platform without any form of issue and as well have broad understand on all aspects of the platform.