How to trade on Binance.

*🔰How to Trade on Binance*

1. Login to your Binance account. Nice and easy!

2. Click on Trade on the taskbar and select Spot at the top.

3. Choose a trading pair. Binance lists hundreds of trading pairs. These are pairs of coins that Binance offers an exchange rate for. For example, Bitcoin can be traded with 143 different coins, so we say that Bitcoin has 143 trading pairs on Binance. In this example, our account is funded with Ethereum, so we are only able to trade with Ethereum.

To find out which cryptocurrencies are offered for trading with Ethereum, select ETH in the top right corner. You’ll now be able to see that Ethereum has 140 different trading pairs on Binance. Select the coin that you want to exchange Ethereum for. For example, you could choose Ripple (XRP). *But Mostly we Pair our coins with Stable Coin like USDT*

5. Choose which type of trade you want to make. Binance offers three kinds of trades:

a. Limit orders allow users to set the maximum price they are willing to pay for coins or the minimum price they are willing to sell them for. Traders then have to wait until a buyer or seller accepts their price.

b. Market orders allow users to trade coins at their current market price. This kind of trade is the fastest and most simple.

c. Stop-limit orders allow traders to buy or sell a coin once it has reached a certain price. This kind of order is often used by pro-traders.

Today, I’m only going to show you how to buy on Binance with market orders. They are quick, simple, and perfect for beginners.

Now, the easy bit! Click on Buy XRP and that’s it. You’re now a Binance crypto trader!

Now you know how to use Binance to make trades, I need to tell you about Binance trading fees.

Trading Fees

Binance trading fees are some of the lowest on the market. Binance doesn’t charge users for making deposits. This is because the exchange is cryptocurrency-only. It avoids the high fees that exchanges that offer fiat trading have to charge.

Binance charges different withdrawal fees for different cryptocurrencies but they are all quite low. For example, if you withdraw Ethereum you’ll be charged 0.01 ETH and if you withdraw Ripple you’ll be charged 0.25 XRP.

*🔰A Short Note on Binance Security*

If I teach you nothing else today, I’ll teach you how to use Binance safely!

There are several ways Binance users can protect themselves against thieves and hackers:

*Two-factor authentication:*

This security feature is so important I’ve mentioned it twice!

*Ignore requests from people claiming to be from Binance:*

Nobody from the Binance team will ever ask for your passwords or your 2FA codes. They will also never ask you to send coins to a “safe account” or anywhere else!

*Only use the official Binance site:*

Don’t click on links to Binance in emails/pop-ups. Check the official Binance URL and bookmark it! If you need to contact the Binance team, use the contact information found on the homepage.

*Use strong anti-virus software:*

Your Binance account is only as safe as the device you’re accessing it from. Make sure all the devices you use to access your Binance account are free from bugs and viruses.

So far, I’ve taught you how to use Binance to open an account and make basic trades. I’ve also taught you about Binance trading fees and security.

*Conclusions*

The cryptocurrency exchange market is very crowded. The exchanges that succeed will be the ones that offer features that every trader can use and enjoy. In this Binance tutorial, I think I’ve shown you an exchange that does exactly that!

Binance has a trading volume of over $1.4 billion for a good reason - it works!

*Stablecoins are a type of cryptocurrency whose value is usually pegged to a range of assets, whether it's a government-issued currency like the U.S. dollar, a precious metal like gold or even another cryptocurrency.*

*What is the most stable coin?*

Tether

Tether (USDT)

Theoretically, Tether is a peer-to-peer blockchain and open-source cryptocurrency. However, it is the most secure stablecoin whose value is pegged to the US dollar. In simple terms, a U.S Tether token is $1 all time.

True USD (TUSD) It is the first regulated stablecoin backed by the US Dollar. ...

USD Coin (USDC) ...

Binance USD (BUSD) ...

Paxos Standard (PAX)