Experience of using Binance App first time

Article No: 04 (03-January-2022)

Greetings! I was just reading articles of random users here and found that most of them are daily bloggers and write article on daily basis and thing inspires me a lot. It means the idea of reading 10 articles on daily basis is a good idea because it motivates me that if others can do it I can also do it obviously we all have the same brain but different methods to use it

If you didn't read my previous article first read it it will you to make goals for yourself just like me. Here is the link just click it.

https://read.cash/@Molotov02/goals-for-the-first-month-of-year-d51b760f

Now move on towards our today's topic

I'm in the crypto world since last year and in our country, we are not allowed to use any cryptocurrency coin to purchase anything from the market and that's why we need to change the cryptocurrency we have into local/fiat money to buy different stuff from the market. I don't know much about exchanges and don't have enough knowledge about exchange so on the advice of one of my close friend I contact the exchanger who changes my cryptocurrency into Pkr currency and give it to me. He gives me money according to the current google $ rate at that time and I was very surprised that why he is giving me money without any benefit and also not taking any fees for the exchange. I thought he was doing all this for the help of mankind but I was wrong when my younger start working of exchange she told me that she uses an app where the buyer provides you different rates of $ and you can choose what you find reliable and I was shocked and on that time I decided to learn about the exchange by myself and for this, I take help from my biological sister

So let's see how I change my crypto into fiat through Binance

First of all, I send my Bitcoin cash worth 200$ to the Binance wallet. And after sending I start doubting myself lol that maybe I send my $ to wring address because I didn't receive them after 10 minutes of sending but then I check my Bitcoin.com wallet and the transaction was still pending there so I calm down for a while and just in 15 minutes of wait I received them in Binance wallet but they take a long time to process and confirmation maybe half an hour and after that, I got 200$ officially in my Binance wallet

Then the next step is to convert them into USDT

For this, I press on the trades icon and then on convert as you're watching on the above picture then I select the cryptocurrency I want to exchange and then click the convert button, and just in a second I change my Bitcoin Cash into USDT

Then the next step I do is go into funding and transfer the money from spot to funding

Then select p2b and choose the rate at which I feel I get profit and then sell my usdt and just in 2-5 minutes I received my amount in a given wallet for example in a bank account and after receiving the amount I get a confirmation message from the buyer and then I click on confirm icon when my order was completed

Note: You can also do exchange like so stop giving benefit to the exchanger and take it for yourself

Closing Thoughts.

Overall the experience was good but I don't like their KYC verification system. I prefer to work Anonymously over sharing all the information about me.

And one last thing thanks to all those who give me positive responses to my previous articles your appreciation means a lot to me