These are the 3 requirements for each exchange:
Let’s see if Binance meets these requirements.
Binance is the fastest growing cryptocurrency exchange. In just over 6 months it became one of the top 3 highest volume exchanges.
The daily trading volume on the platform is currently between 3-4bn USD.
On this page you can read my review and experience about the Binance Exchange.
There are so many exchanges out there. What makes Binance so special?
The platform also has some technical advantages over other platforms.
Some extras if you are still not convinced:
When you go to Binance you will be presented with the following screen:
First, click Register in the top right corner.
You will see the following form:
Now, Click on Register
Like most sites these days, Binance requires you to verify your email.
After verifying your email, continue to Login with your email address and password.
After logging in, a popup asking for extra security will show. I definitely suggest using 2FA for more advanced security. This makes it nearly impossible to get hacked. Make sure you write your 2FA code down incase you lose your phone.
On your dashboard, click on Funds -> Deposit & Withdrawals in the top right corner.
On the Deposit & Withdrawal page, search for “BTC” exactly. Those 3 letter B-T-C and not a single more (these are other coins).
Click the Deposit button for BTC – Bitcoin and copy your deposit address. This is the address you will send your Bitcoin to start trading on platform.
It is the same for all other coins.
After sending money to
After some time (can take up to an hour some days), our Bitcoin will have arrived on Binance. You will now see your BTC balance in Deposit & Withdrawals.
I will take NEO, one of my favorite long-term coins, as an example.
Use the top menu and click on Exchange -> Basic.
This is where all the trading happens. It might look scary, but it is much easier than it looks.
On the right side of the screen you have a small search box. Type in NEO and press search.
In the table under “Pair” you should now see NEO/BTC. Click on this.
Afterwards go down to the boxes under the chart. We are currently only going to use the left one with the green “Buy NEO” button.
The three important fields in this form are: Price, Amount & Total.
DO NOT manually change the price. One small mistake here, like accidentally removing and 0 and making the price 0.04957 instead of 0.004957 can make you lose money real quick. Leave the price as it is, this the price NEO was last traded at.
Change the amount to how much NEO you want to buy. You can use the 25%, 50%, 75%, 100% to automatically fill in the field with the percentage of your current BTC balance. If you want to put all your Bitcoin in NEO, click on 100%.
The total field is greyed out and will show you exactly how much NEO you will get for that price.
After you double checked everything, click on “Buy NEO”.
Congratulations, you have now bought your first NEO!
Or wait… If the price went up after you landed on the Exchange screen, you might have to wait a bit for the price to go back down.
If you want to buy immediately without waiting, click the lowest red number on the right. This will change your “Price” in the form. Now you just have to click on Buy NEO again to complete the trade!
You can always cancel your order if you scroll down a bit, setting/cancelling an order does not cost anything.
Like I mentioned earlier, Binance has a wide variety of coins. While its focus is mainly on cryptocurrencies from the Chinese market, it will often be the first big exchange to add new coins from anywhere.
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