Regarding the daily trading volume of cryptocurrencies, Binance is the largest cryptocurrency exchange in the world. It was founded in 2017 and is registered in the Cayman Islands. Changpeng Zhao, a developer who had previously produced high-frequency trading software, launched Binance. After the Chinese government started to regulate cryptocurrencies more strictly, it eventually transferred its headquarters outside of China. The United States department of justice and the internal revenue service both opened investigations into Binance in 2021 over claims that it had engaged in money laundering and tax evasion. The financial conduct authority of the UK has ordered the exchange to stop all regulated operations in the UK by June 2021.
How to trade using Binance USD
The following are the guidelines for trading with Binance:
Establish a profile
On the platform website, desktop software, or app, register for an account using your email or phone number.
Complete affirmation
Complete the Identity verification process before enabling the fiat deposit and withdrawal restrictions on your account. This process, which entails confirming your basic account information, providing identification documentation, and uploading a selfie or portrait, often takes a few minutes to finish.
Protect your exchange account at all costs. to do this, take all necessary steps to protect your account, you can also take additional steps to increase account security.
Add cryptocurrencies
If you already have cryptocurrency stored, you can add it to your wallet.
Purchase cryptocurrency
You can use bank transfers and credit cards to add up to 50+ fiat currencies, including EUR, BRL, and AUD, to your account, depending on where you live. These many Fiat channels are available here. Upon deposit, you can use them to directly purchase cryptocurrency.
Use a debit or credit card to purchase cryptocurrency
You can easily purchase cryptocurrency straight on the Binance website or the Lite Mode of the Binance app with your credit or debit card.
Begin trading
The time has come to begin trading. After placing the pointer above the trade, choose basic or advanced. This will display all relevant market information. You must select BTC in the right panel to sell BNB for BTC at the current Bitcoin price. Following that, click BNB/BTC to see the related trading page. When you find a buy BNB and sell BNB option, keep scrolling down. To sell BNB, select sell coin from the menu. Please enter the desired selling price. After that, click the “Sell BNB” bar. A “Limit Sell Order Created” pop-up will appear right away. The limit sell order can then be seen by scrolling down to the open orders column. Await the opening
Look into Binance products
After obtaining your first cryptocurrency, you can begin investigating a variety of trading goods. You may trade hundreds of cryptocurrencies, including BNB, on the Spot market. The native token of the Binance Chain and the Binance Smart Chain, BNB drives the Binance ecosystem. There are several applications for BNB, including paying for transaction costs on the platform Exchange and Binance DEX (Decentralized Exchange) as well as purchasing goods and services both online and offline. Most importantly, if you decide to pay for trading costs on the Binance Exchange with BNB, you will receive a special discount. Wait for the open order to finish, and your transaction will be finished once it does.
Binance profit
Try Binance Earn if trading isn’t your thing but you still want to grow your cryptocurrency holdings. It provides a full range of financial products, also including flexible savings, Locked Staking, Launchpool, and Binance Liquid Swap, to help you increase your passive income.
