Find Out How to Use Binance: The Complete Binance Tutorial

Find Out How to Use Binance: The Complete Binance Tutorial

Binance is today one of the best-known and most used cryptocurrency exchanges in the world. Even in a very competitive sector, Binance managed to emerge brilliantly, to become a leader with a well-recognized quality of service.

We want to provide you with a guide and a complete review, analyzing the platform and all its services in our in-depth analysis.

Binance is a crypto wallet, a trading service, a training academy, a supplier of its cryptocurrency (Binance Coin), and much more!

There are so many resources available for investors and users, and where we want to consider them all, allowing you to have a complete Binance review.

So, if right now you are looking for a platform to entrust the brokerage of your cryptocurrency investments, you can make your considerations effective!

In any case, we are always at your disposal to obtain more information on these operators: contact us by email or leave us a comment in the space provided!

What is Binance: review and definition

Binance is a cryptocurrency exchange platform or, in technical jargon, an exchange. Unlike many competitors who base their business on traditional crypto money exchange and vice versa, however, Binance focuses on crypto-to-crypto trading.

This choice allows the exchange to change many aspects of its operations compared to its direct rivals.

Over time, Binance has gradually expanded its service offering to enable users to do more things directly on its site.

For example, today on Binance, it is possible to:

  • training on cryptocurrencies,
  • speculative trading,
  • store coins,
  • discover exciting startups.

The startup founders can capitalize on their projects by creating cryptocurrencies for interested investors and offering them on Binance (a process known as an ICO).

The exact exchange sometimes decides to reward some particularly deserving startups by including them in its incubation program. But, again, Binance offers excellent technical support and the necessary funds to get the project off the ground. In short, an actual 360-degree operator, ready to satisfy all your needs.

You can visit the official website of the exchange here.

Binance and Binance Coin

In addition to the above, we also remind you of a cryptocurrency called Binance Coin (BNB), launched by the same exchange. But with what purpose?

Users can use this token to pay for the platform’s services, thus obtaining a discount and an additional investment opportunity. BNB has been a great success since its launch and today is among the ten crypto currencies with the largest market capitalization.

For the foreseeable future, there are already clear indications of what Binance will become. In part, it will continue its global expansion, especially in Asia and South America. Above all, however, it will launch a new cryptocurrency no longer linked exclusively to its brand. Instead, it will be a stablecoin (crypto whose value tends not to be as volatile as traditional cryptocurrencies).

Binance exchange: how it works

Let’s go into detail by analyzing Binance’s primary function to be a platform for exchanging cryptocurrencies.

It is undoubtedly the most important business for the company and made it famous all over the world.

Now it is possible to exchange more than 500 cryptocurrencies; the trading volume generated by this platform represents almost all of the total volume.

Changpeng Zhao, the Binance founder, was visionary in focusing a lot on altcoins. As a result, all those tokens that are not Bitcoin show great attention in satisfying any need from cryptocurrency users.

In short, Binance has always favored small projects, for which it is difficult to find another exchange platform: over time, some of these became larger, also attracting other exchanges, but by now, their users were used to using this Binance for their operations, thus consolidating their relationships with this operator.

Go to the Binance website: click on this link!

Binance fees: how much does the exchange cost?

The commissions applied on exchanges are not the lowest ever in the cryptocurrency trading sector, but Binance is still quite competitive.

Not having to do a traditional money brokerage, the exchange avoids involving external tools to process payments and, in this way, also avoids their added commissions.

Buying and selling pay a 0.1% fee. Therefore, on the total of an operation, 0.2% of the volume transacted is recognized to the service. We are well below what operators usually ask for this type of operation, so convenience favors the service. You can further save by using Binance Coins to conduct operations, reducing spending by 25%.

Is Binance Safe? Is it a scam?

In addition to investing in many projects still in their infancy (therefore with high potential), the great added value is safety. Unfortunately, every day we read about some hacked exchanges, and more and more scandals related to the cybersecurity of these platforms arise. Still, this news never has Binance as the protagonist.

And it is no coincidence, of course: the team works hard under Zhao’s supervision to guarantee users maximum protection against cyber attacks.

In short, Binance is a very safe operator, and, indeed, it is not a scam! Instead, it is an exchange you can use with great satisfaction for your cryptocurrency trading in a simple, effective and convenient way!

Cryptocurrencies on Binance: which ones to trade?

Of the more than 500 coins that you can trade on Binance, many have a market capitalization of less than $ 10 million. Hence, almost every decentralized project is worthy of note and having a token available offered on the platform.

In addition to the well-known Bitcoin, Ethereum, Ripple, and Litecoin, some tiny known names appear Chainlink, Everex, Zilliqa, and many others.

Obviously, on the one hand, this opens up rather innovative frontiers for traders. Still, on the other hand, it is necessary to pay attention to some projects that have not yet shown that they can build value. In short, for investors, it is a gold mine but not always.

Binance App

You can use Binance exchange services with all major devices and operating systems. There are particular applications for Android and iPhone for mobile, which offer all the necessary features to negotiate even on the move and even in conditions of poor internet performance.

To open an account on Binance for FREE, click here (official site)!

Binance: Opinions on other features

In this first part of the guide, we focus on aspects other than the crypto-to-crypto exchange. As we mentioned at the start, this brand has now created its galaxy of services that go far beyond the simple exchange of cryptocurrencies. So much so that it is possible to talk about an objective point of reference for all the operations that can be useful to an investor or a user interested in making transactions in electronic currencies. So it is right to investigate these aspects too.

Binance Wallet: the wallet for your cryptocurrencies

Like all large exchanges, Binance also offers a dedicated service for storing cryptocurrencies. However, instead of developing it independently, it partnered with startup Trust Wallet and made their wallet the only official Binance partner.

In this way, using the platform, it will be possible to keep the tokens purchased directly from this external but perfectly integrated wallet.

Although Binance is among the safest services in the world in the IT field, in our opinion, it is better not to use an online wallet.

As mentioned several times, only a hardware wallet can allow security when disconnected from the internet. Therefore, we are confident that we will continue not to hear about successful attacks against Trust Wallet. Still, on the other hand, it is better to choose total protection, especially if your cryptocurrency wallet starts to contain a fair amount.

The wallet can be downloaded for free using any device and is specially designed to use mobile. Recently, Binance is also working on integrating this and the primary credit card circuits to create a payment service with a Visa or Mastercard card that makes it possible to execute the transaction in cryptocurrencies.

Find out more about Binance by clicking on this link.

Binance Is It Worth It? Advantages and disadvantages.

Like all services, inside and outside the cryptocurrency world, Binance also has pros and cons. Indeed the success of this platform is because the former far outweigh the latter, but there are some suspicious aspects to consider.

Pro

  • Safe and highly reliable platform;
  • Many integrated services that allow you to use the same site to make all potentially interesting operations for a cryptocurrency enthusiast;
  • Meager transaction fees;
  • High protection of user data and a lot of privacy in general;
  • Compatible with all current devices and operating systems.

Cons

  • With traditional money, it is possible to buy only Bitcoin or Ethereum;
  • The fees on traditional cash (fiat) transactions are pretty high.

Click on this link to learn more about Binance.

How to register on Binance and make your first deposit

The Binance registration process is pretty simple: in 5 minutes, you can be ready to make your first trades!

First of all, you need to go to the official website by clicking on this link and click on the word “Register” at the top right. At this point, a form to fill out will appear on the screen.
binance account opening the first step to register on Binance.

Once all the data have been entered, by clicking on “Register,” you will receive a confirmation email to the email address indicated. At this point, we will have to open the e-mail, find the e-mail and click on the link inside it; automatically, a new tab will be opened on the browser where the message “Your account is verified” will be displayed.

After a few seconds, the screen will disappear, leading to a minor user safety training procedure. Then, finally, Binance will put us in front of some tips to use the platform at its best: we will have to tick all the boxes and proceed.

At this point, we will have to complete the registration procedure by providing the latest information, a copy of the documents, and filling in another questionnaire. Then, in a few minutes, Binance will verify your profile!

Click here to go to the Binance website and register for FREE!

First deposit on Binance

Before starting to buy and sell cryptocurrencies, only one step remains: add funds to our account. Then, if we already have crypto values, we will send them to our wallet on Binance and directly use the tokens available to us.

Instead, let’s assume that you don’t have any cryptocurrency and want to buy some for the first time using traditional money.

We will make our first deposit directly by credit card by clicking on the button shown in the image.
Deposit in euros on Binance using a credit card to buy cryptocurrencies with Binance.

There are only two steps left. The first involves clicking on the procedure to add funds by credit card.

The second and last step of the whole procedure is the actual payment. We will have to enter the dollar value to deposit and the cryptocurrency we transform (Bitcoin or Ethereum).

The computer system will immediately tell us how many cryptocurrencies our deposit is equivalent to the chosen kind. Then, as always, by entering the credit card number and data, we will authorize the payment and see the balance credited to the account within 30 minutes.

If you need assistance and more information, you can leave a comment below.

For more information and to start investing in cryptocurrencies on Binance now, click on this link.

Binance: Concluding Opinions and Comments

In summary, talking about Binance certainly means talking about an institution in the world of cryptocurrencies. You cannot underestimate a company that becomes a global brand in a few years, surpassing the competition and integrating all the features present on the platform.

Without wishing to be biased, we must recognize the driving role this exchange has played in recent developments in the crypto sector. Without Binance, indeed, this market would be different.

Our readers who have tested the service have been satisfied with it and didn’t report any malfunctions. Furthermore, after prolonged use, our editorial team can say that they have always been enthusiastic about the service standards. So even if we would like to be more critical, we approve this cryptocurrency exchange with flying colors.

We hope our guide helped you clarify your ideas about Binance and its services; in any case, remember that you can leave us a comment to let us know your experience on the platform.