What is Binance?
Binance is a trading platform launched in July 2017 used for trading crypto-currencies. It is a combination of Binary and Finance which supports different languages such as: English, Japanese, Chinese, Korean, Spanish, Russian, France and German Languages.
Binance does not accept Dollars or Euros or Philippine Pesos or even other currencies in order to buy crypto currencies instead you can deposit Bitcoin or any other Cryptocurrency available in Binance and exchange it to other altcoins (alternative coins).
How to register in Binance?
1. Go to: BINANCE
2. Once you are on the page, it's very simple. Click on "Register" at the top right of the page or "Create an account" in the center”
1. Go to: BINANCE
2. Once you are on the page, it's very simple. Click on "Register" at the top right of the page or "Create an account" in the center”
3. Insert your desired Email, Password, and check the agree button and register.
NOTE: In order to secure your account, you need to enable 2FA (2-Factor Authenticator) Google Authenticator.
This will activate 2FA which restricts a person from logging your account or withdrawals of your cryptocurrencies without the 2FA Code from Google. It acts as a secondary “password” to your account that no one can ever guess. Consider 2FA as one of those nuclear launch codes you see in the movies, that changes every 30 seconds.
This will activate 2FA which restricts a person from logging your account or withdrawals of your cryptocurrencies without the 2FA Code from Google. It acts as a secondary “password” to your account that no one can ever guess. Consider 2FA as one of those nuclear launch codes you see in the movies, that changes every 30 seconds.
In order to activate your 2FA Authenticator, you need to the following:
1. Download Google Authenticator from the Playstore or appstore
2. Go to https://www.binance.com/userCenter/myAccount.html , Enable Google Auth
3. After downloading Google Authenticator from the Playstore or Appstore, you need to take a picture of the QR code on the desktop computer to generate your 2FA Authentication
4. After scanning your QR Code, check your Google Authenticator Code on your app and place it on the website. 5. Put your password and enable your 2FA Google Authenticator. Once your 2FA Google Authenticator is already enabled, it requires you to place the code every time you login in your account and every time you withdraw from Binance.
1. Download Google Authenticator from the Playstore or appstore
2. Go to https://www.binance.com/userCenter/myAccount.html , Enable Google Auth
3. After downloading Google Authenticator from the Playstore or Appstore, you need to take a picture of the QR code on the desktop computer to generate your 2FA Authentication
4. After scanning your QR Code, check your Google Authenticator Code on your app and place it on the website. 5. Put your password and enable your 2FA Google Authenticator. Once your 2FA Google Authenticator is already enabled, it requires you to place the code every time you login in your account and every time you withdraw from Binance.
Logging my account on binance: It requires 2FA before I can access my account. You can see the code on 2FA google authentication code
How to verify your account?
Verification of your binance account increases the amount of your deposits and withdrawal. In order to verify your account, you need to click account, then beside your name > click verify. It requires you to submit pictures of your Identification card (Front and Back) and a selfie holding your identification card and write in a small paper the word Binance and the date you applied for Binance Verification.
Verification of your binance account increases the amount of your deposits and withdrawal. In order to verify your account, you need to click account, then beside your name > click verify. It requires you to submit pictures of your Identification card (Front and Back) and a selfie holding your identification card and write in a small paper the word Binance and the date you applied for Binance Verification.
Example:
STARTING WITH BINANCE
Before using Binance, you need to have a wallet which contains your Bitcoins or Ethereum.
If you don't have any wallet you can use any of the following:
1. Coins.ph (Philippines) which stores bitcoins;
2. Blockchain
3. Exodus
4. Abra (Philippines)
5. Coinbase
If you don't have any wallet you can use any of the following:
1. Coins.ph (Philippines) which stores bitcoins;
2. Blockchain
3. Exodus
4. Abra (Philippines)
5. Coinbase
HOW DO I DEPOSIT?
Step 1: Go to the “Deposit” Page (Binance) At your dashboard (or the first page you see when you log-in), click on the “Deposit/Withdrawals” button under the “Funds” tab on the top right-hand corner.
Step 2: Select the Coin You Want to DepositSearch the coin that you want to deposit and press the “deposit” button. It is extremely important to only click the “deposit” button that is specific to the coin that you’re going to deposit. So if you’re depositing Bitcoin (BTC), make sure you click the “Deposit” button only for Bitcoin (BTC). This is because the address for each coin is different. You can just search for the coin in the search field to expedite the process.
You will obtain your own unique wallet address where you can receive your bitcoin or ethereum. Now you already have your wallet address:
1. Go to Bitcoin wallet or coinbase or any wallet containing your Bitcoins or Ethereum
2. Click Send and Paste your Wallet Address then confirm. Once you're done sending bitcoin from your wallet to binance, you need to wait. The process time of sending your bitcoin to binance depends upon the number of pending transactions on blockchain. NOTE: The fees for sending bitcoin from coinbase to binance varies on the traffic of transactions in blockchain.
NOTE: The fees for sending bitcoin from coins.ph to binance varies on the traffic of transactions in blockchain. Around 9pm to 10pm (Philippine Time) the fees is around 400 to 500 pesos.
Once you're already set in, let's proceed.
STEPS:
1. Click "Exchange" You can choose whether BASIC or ADVANCED (Since we are NEW to Binance, click BASIC)
2. Over view of Binance Exchange:
LEGEND:
On the left side, the Green Part shows the number of person who buys coin.
Red Color shows the number of person who sold their coins.
On the right side: different Altcoins to choose from and the Trade History
On the middle, it is the graph where it shows the Depth and Candlesticks. Depth and Candlesticks are used in order to monitor the exchange of altcoin represented by graph or chart.
It is used in order to forecast whether the coin or currency is going to increase its value or decrease its value.
In order to buy your own coin:
1. You need to choose what coin you want to buy
2. After choosing what altcoin you think will be more profitable you can use : LIMIT or MARKET
LIMIT
Cons:
a. More complicated to use than Market.
b. You need to monitor the candles and depth in order for you to arrive at a reasonable price.
Pros: a. You can set the value of the coin you want. (Whether you need to increase its value than its regular price however you need to wait for it to be sold)
3. Choose whether you will buy using your whole bitcoin (100%), 3/4 of your bitcoin (75%), half of your bitcoin (50%) or 1/4 of your bitcoin (25%)
4. Click Buy or Sell.
NOTE : GOLDEN RULE "BUY LOW, SELL HIGH"
If you want to gain profit, you need to buy it when the coin is low and sell it when the coin increases its value.
MARKET
Pros:
1. No need to set buy or sell price (Instant) but the price is lower than the market price or at least at a reasonable price
STOP LIMIT: Can be used even you're already sleeping. Just set the desired amount.
Q. How do I withdraw my funds?
Steps:
1. Go to Funds
2. Click Withdrawal
3. Paste your wallet address (From Coins.Ph,Abra or any wallet Click Receive and it will genereate your wallet address) which will receive the Bitcoin or Ethereum
4 Fee for withdrawal : 0.001 BTC
5. You will see the amount you will get the Total
6. Click Withdraw
7. Done
TRADING IN BINANCE
Once you're already set in, let's proceed.
STEPS:
1. Click "Exchange" You can choose whether BASIC or ADVANCED (Since we are NEW to Binance, click BASIC)
2. Over view of Binance Exchange:
LEGEND:
On the left side, the Green Part shows the number of person who buys coin.
Red Color shows the number of person who sold their coins.
On the right side: different Altcoins to choose from and the Trade History
On the middle, it is the graph where it shows the Depth and Candlesticks. Depth and Candlesticks are used in order to monitor the exchange of altcoin represented by graph or chart.
It is used in order to forecast whether the coin or currency is going to increase its value or decrease its value.
HOW DO I BUY MY COIN?
In order to buy your own coin:
1. You need to choose what coin you want to buy
2. After choosing what altcoin you think will be more profitable you can use : LIMIT or MARKET
LIMIT
Cons:
a. More complicated to use than Market.
b. You need to monitor the candles and depth in order for you to arrive at a reasonable price.
Pros: a. You can set the value of the coin you want. (Whether you need to increase its value than its regular price however you need to wait for it to be sold)
3. Choose whether you will buy using your whole bitcoin (100%), 3/4 of your bitcoin (75%), half of your bitcoin (50%) or 1/4 of your bitcoin (25%)
4. Click Buy or Sell.
NOTE : GOLDEN RULE "BUY LOW, SELL HIGH"
If you want to gain profit, you need to buy it when the coin is low and sell it when the coin increases its value.
MARKET
Pros:
1. No need to set buy or sell price (Instant) but the price is lower than the market price or at least at a reasonable price
STOP LIMIT: Can be used even you're already sleeping. Just set the desired amount.
WHEN YOU'RE ALREADY MAKING PROFIT | WITHDRAW YOUR FUNDS
Q. How do I withdraw my funds?
Steps:
1. Go to Funds
2. Click Withdrawal
3. Paste your wallet address (From Coins.Ph,Abra or any wallet Click Receive and it will genereate your wallet address) which will receive the Bitcoin or Ethereum
4 Fee for withdrawal : 0.001 BTC
5. You will see the amount you will get the Total
6. Click Withdraw
7. Done
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