Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.
Cryptocurrency exchanges are websites where you can buy, sell, or exchange cryptocurrencies for other digital or fiat currencies. Binance is a crypto-to-crypto exchange that does not handle fiat currencies. This means that you cannot use Binance to buy or sell cryptos with fiat currencies such as USD, EUR, or GBP.
In order to buy cryptocurrencies on Binance with fiat currencies, you will need to first purchase Bitcoin or Ethereum on another exchange that does handle fiat currencies. Once you have purchased Bitcoin or Ethereum, you can then transfer your BTC or ETH to Binance and use these funds to trade for other cryptos on the Binance platform.
The process of signing up for a Binance account is relatively simple and straightforward. First, you will need to create an account on the Binance website. To do this, you will need to provide your email address and create a strong password. Once you have created an account, you will then need to verify your email address by clicking on the link sent to your inbox by Binance.
After verifying your email address, you will be asked to set up two-factor authentication (2FA) for added security. Binance offers two options for 2FA – Google Authenticator or SMS Authentication. After setting up 2FA, you will then be able to log in to your account and start trading!.
In order to start trading on Binance, you will first need to deposit some funds into your account. Binance supports many different cryptocurrencies, so you can deposit any crypto that is supported by the platform.
To deposit funds, simply click on the “Deposit” button next to the cryptocurrency that you wish to deposit in the “Funds” section of your account. Once you have deposited funds into your account, you can then start trading!.
To trade on Binance, simply go to the “Exchange” page and select the currency pair that you wish to trade. For example, if you want to trade Bitcoin for Ethereum, you would select the “BTC/ETH” currency pair.
Once you have selected the currency pair that you wish to trade, simply enter the amount of currency that you wish to buy or sell in the “Amount” field and click on the “Buy ETH” or “Sell ETH” button depending on whether you want to buy or sell Ethereum. Your order will then be executed and you will have bought or sold Ethereum!.
Joining a Binance exchange is a relatively simple and straightforward process. First, create an account on the Binance website and verify your email address by clicking on the link sent to your inbox by Binance.
Next, set up two-factor authentication for added security. Finally, deposit some funds into your account and start trading!.