Guide: What is Cryptocurrency and how to trade it using Binance Exchange

Guide: What is Cryptocurrency and how to trade it using Binance Exchange

Greetings!


Hello everyone! Today crypto currency is the most popular topic, many people afraid about it, other made millions. For whole year we heard that bitcoin is a bubble, but  it raise to $ 500, than $1000, $5000 and …$15000! Sounds crazy, but who cares if it bubble or not if we can earn some money, right? Just remember to be careful and not risk those funds you can’t efford to lose.

As the big bankers and market makers used to say “Time is Money”, bitcoin is indeed a great example of it. Some governments allow and even encourage to use cryptocurrencies and do mining (using computing power to generate more cryptocurrency) and at the same time some completely deny the whole crypto space. As many people believe and we tend to agree, cryptocurrencies and mining technologies should not be limited to the big boys only and must be legalized and open the broad public, anywhere in the world and not just particular countries as it is hapening right now. Most people do not have an idea about all the incredible features and life improving possibilities of the blockchain technology, but looking bit into the future, we can tell almost with a confidence, many indiustrial aspects as we know today will be moving into the cryptocurrency and blockchain sphere. In fact, some of the major banks in Japan, Korea and Europe already heavily testing and some even using the Blockchain technologies.

Some experts tell us it`s high risk investments and we should run away from the cryptocurrency world, but the same happened with money, internet and many other technologies in the past. At first everyone scared, and later on almost no one can live without it. As Vitalik Butern (Ethereum Co-Founder / Developer) said “Cryptocurrency technology can use any person around the world and not just the richest elite” which gives everynoe an equal chance to enter into this industry. Yes it has volatility risks which regular fiat money may not experience at this large scale, but same time the further we go, we will see more and more stable cryptocurrency solutions, less volatilte and more friendly to the everyday use.


Nowadays


This article aims to provide everyone with a little bit more knowledge, for those who seek to learn more about the cryptocurrency and its exchange industry.

First of all, this sphere could be very exciting and mind blowing. So STOP here, relax and get down to the earth.  Don’t dream about being a millionair or quick, easy money since those thoughts are exactly the thoughts which could lead you to the next major mistake. There is almost no regulations or any official federal support to those who choose to use or trade cryptocurrencies. Most governments don`t know yet what to do with crypto and still learning their way to this technology. So be aware, no one will hold you from making your next mistake but your self. Be calm and ALWAYS use your own due diligence before any action you may choose to make in this industry.

Secondly, if you want to make money you must read, read and read by yourself and not believe into some of those so called “gurus”. Because today nobody is a guru! Nobody could be 100% sure, what to do, when to sell or what is the best buy price for those cryptos (BTC/ETH etc..). Therefore, no Guru out there  but your own research and study could help you making your own better decision.


How make money on crypto coins?


You could be an cryptocurrency trader, buy and sell short-term or/and long term transactions at the major cryptocurrency exchange.

If you are in a “eager” mood ad looking how to generate profits RIGHT NOW.  Its better pause the reading here, relax, slow down…and come back to continue and reading this article.

So, hopefully you do indeed take it easy and you want to learn how to trade and buy cryptocurrencies at the major exchange, First of all, you need to choose right exchange. We personally prefer the largely well known Binance Exchange. Because of its phenomenal customer support the fact it has very fast  and friendly verification process and over two million users for the date. Furthermore, those who like, this exchange offer both PC platform and Mobile phone platform, both very fast and smoothly operating.

Binance provided us with a invitiation (refferal ID) URL which gives our readers 50% discount on all exchange fees for a whole month. You may use this following URL: [ Register with Binance ]

For your convinience, we have created a short, strightforward guide how to join and work with Binance Exchange platform, you may see it next below.


Binance Exchange –  First Step:


You can choose the language on the right corner

 

Also you might see Login and Register buttons.

If you don`t have account yet, Go to Binance Exchange [Here], Then, please click on the Register button and you will be transfered to new page where you need to fill up your email, create difficult password, if you have some problem how to create really difficult password, you may use this free password generator tool: Password Generator

Hint: It’s better to create a password with 32 or more length. After you have done with the registration, save your password in a secure location and login to your Binance Exchange back office.

Read carefully Binance Exchange’s Terms of use.  If you didn’t use our referral URL, we will truly appreciate if you put our ID as Referral ID 12150951 . If you will use it, you`ll get a 50% discount for every transaction fee on the exchange for a whole month.

After your registration, you need to check your email and confirm the address through the link. You will transferred to binance page and be able to view your confirmation status.

Now you can log in into your Binance Exchange account.

 

For security reasons Turn on Google Auth and if you like SMS auth also.
If you don`t have Google Authenticator you can download it here

Verification


Verification is the process of verifying the identity using a certain set of documents.
For different exchanges, different requirements. For Binance, verification is not so critical, without it you can run a daily withdrawals of up to 2 BTC a day. But we recommend you to pass the verification. It`s easy, more fast than other exchanges and you will have less limitations.


How to trade with Binance Exchange?


For trading you can click Exchange and choose Basic or Advanced interface.

 

So you open the exchange basic via the top menu and look at the left side for the instrument’s bid and ask prices. For  example, you can look at the NEBL/BTC instrument. You can manage it as you wish.
In the middle you see a chart of the price with common indicators. Below you could find tab Limit, it means you may buy or sell when price reach a certain price value. The market tab, means you will buy or sell on the current market value. In the window. you specify how much of your available funds you want to use. For convenience, you can use the percentage ratio – 25 -50 – 75 or 100%

 

On the right side you could write necessarily crypto pair. Also you can pick pair with BTC, ETH, BNB or USDT.

When you go out, be sure to press Exit or Logout, rather than just closing the tab. So you will be sure that you left your personal cabinet.

It is important to know that crypto trading is a highly risky area and requires proper preparation. We strongly recommend you to read the terms of use the exchanges and examine the risks before trading. You can lose some or all of your initial investment. Do not invest more than you can lose, do not trade using credit funds and take all responsibility for every open transaction.

If you have any questions, we will gladly discuss.

Good luck in your crypto experience!