Binance(Review):
1. What is Binance?
We can make the following definition for Binance: It is like a stock exchange full of criptoactives, created in the year 2017 by the Chinese man, named: Changpeng Zhao.
This global exchange is responsible for intermediate security, and practices people seriously interested in buying, and selling cryptocurrencies across the globe.
In Binance you have access to a digital platform that allows you to make trades with more than 100 cryptocurrencies, including the biggest coins in market capitalization, like Dogecoin, Tether, Bitcoin, Litecoin, and much more.
Binance has its own coin, named: Binance Coin (BNB) this cryptocurrency can help to impulse your operations to establish an ecosystem more sustainable, the coin can be used for many purposes, including the payment of quote rate, exchange rate, trading fee, or any other type of payment related to it.
Even during the crisis of 2020, we can see a great increment of people very interested in learning about cryptocurrencies all over the world (politicians from the country, named: El Salvador have decided to use the cryptocurrency named: Bitcoin as their official currency).
2. Why Binance?
Binance is the biggest exchange in the world by market volume, the meaning of this is: that you can negotiate the most important coins on the platform with enough liquidity, and big velocity in transactions (this can be very good not only if you are working in the technology industry for some company with payment in cryptocurrencies, but if you are solving some tasks from Microlancer, you can receive the money of your last freelance gig in the speed of light).
Beyond the higher number of benefits, such as the biggest number of tokens available to buy and sell on the platform, and the capacity of conversion between many cryptocurrencies in the exchange, named: Binance can be a good way to receive money, if you have a Paypal account and never like the fees that are always happening during payment, maybe this is a good option to receive, and spend money for many people.
2. a Advantages of Binance:
If you are seriously interested to diversify your wallet with many investments, it is important that you have to choose an exchange you can trust, if it is possible with a big variety of advantages when you use it.
The first advantage of Binance over other crypto-asset brokers is the possibility of making deposits using fiat currency(like dollar, euro, and much more), therefore the buyer will never feel scarcity in your digital wallet making business between customers and companies more transparent and making them unable to end after a well-established bond.
The first advantage, is the lite version:
Binance is also good for beginners, the lite version of the application made by mobile phone is another great advantage of Binance because can help every person in the world starting in the world of cryptocurrency, making the process of learning easier (if something in the lite version it is much difficult for the beginner he can search in the Youtube the official channel of Binance, and search in this channel the playlist named: ‘’Binance Tutorials|In English’’ watching this playlist can help the beginner of never making common mistakes, like: don’t know how to deposit money in the exchange or maybe forgetting how to send cryptocurrency for another cryptocurrency address.
There are no taxes and any other type of government control in the Exchange:
We can see another great advantage in that platform if you are an anarcho-capitalist, or you just love the free market, you will really love the cryptocurrency universe because you don’t have to pay anything for the government, this benefit is not exclusively to Binance, but you can find it in any other exchange (for this reason the exchange is called: decentralized), many examples are: Binomo, Atomic Wallet (it is a famous cryptocurrency wallet).
The biggest attractive factor is the Binance coin(BNB):
Last but not least, we can’t forget about the biggest attractive factor in Binance, the Binance coin(Bnb), beyond the growing factor being very impressive the liquidity of the Binance coin is extremely important because is the root when all the users from the exchange can buy and sell with easy steps.
The coin is available in more than 10 languages across the globe(English, Spanish, and many others), this can be very inclusive, helping many investors even if they are living in third-world countries(like Brazil, India, Venezuela, and much more) to make the financial freedom possible in their lives, and after connecting the official wallet of Binance, named: Trust Wallet you can sell the tokens you received in Pancakeswap, and earn some Tether Usdt, after that you can sell this Tether and received a huge amount of money in your own currency(because the Tether Usdt have the same value of the American dollar).
Binance has a big security:
Probably you already know the strong security behind any Exchange (you can trust in Binance, and avoid mistakes you can do through the internet), never send your password to anyone no matter where this person is from, many people have trust in scammers on the internet and have loosed too a good deal of money after that, you always have to know what you are doing.
2. b The disadvantages of Binance:
Unfortunately, everything in the world has a positive side, and a negative side, and unfortunately using Binance have some disadvantages.
Some users of Binance start to make some posts on their social media accounts talking about the long period of waiting for the answers in the live chat, some of them can delete the account in the system, and start using another exchange stock.
In the first image (image on the left side) we can see a Binance user, talking about having serious problems with the Binance Support to receive a message in the digital platform, unfortunately, problems like these are always happening in the Binance account, without any perspective of change in the future.
Another great disadvantage of Binance is the long wait period of making the KYC verification and/or the identity verification; we can see this happening in the following screenshot, without an identity verification the user of this platform can’t increase the withdrawal limit making the process of buying and selling cryptocurrencies too much slowly.
3. How to use Binance?
After reading all the other sections in this article, maybe you start to think: “How to use Binance to earn some money online? ’’
The first thing you have to keep in your mind is writing on some paper or in anything else.
3.a How to open a Binance account?
After enter in the Binance website, you need to write your email, and password(never forget your password write on paper the password you have to choose to use, good logic things is choosing instead of using a simple basic date, and/or secret word is choosing a great phrase like the password, using a phrase can be avoiding you from many hackers).
In the ‘’Register Section’’, you can write your email, and password to create your first account on the platform.
The next process is too much simpler than before, you just need to enable the 2fa in your Binance account, firstly you will need to search for the application, named: ‘‘Google Authenticator’’ in Playstore (this is an essential process because with the 2fa application in your phone you can avoid some problems like being hacked, and other problems, and download in your phone (unfortunately there is no way to use in your computer this application), try to follow these screenshots:
After installing the Google authenticator you can open the application on your mobile phone, and start your cryptocurrency life.
3. b How to deposit funds at Binance?
Before starting earning good money through holding cryptocurrencies and/or selling in Binance you will need to understand how to deposit funds at Binance without any mistakes result.
The first step is to search for the ‘’Overview’’ option in your Binance account, and click on the ‘’Deposit’’ option which you will see in the following screenshot:
Choose the right amount of money you want to deposit in your Binance account, and don’t forget to select the right currency (or maybe the right cryptocurrency you want to deposit in your wallet).
This process is simple, and fast you just need to save some amount of money in your digital bank, credit card deposit, and earn some cryptocurrencies after that.
To make your first fiat deposit you just have to select the option, named: Deposit, and click on the option called: ‘’fiat’’, like it is showed in the screenshot above:
3. C How to trade on Binance:
Before you take a drive on a strange pool, you are wise to check the depth of the water.
And before you think about how to trade on Binance you need to understand the basic steps about how to buy, and sell cryptocurrencies through the exchange (in the beginning this can be very difficult, but with a great time you can earn big money on that).
You can buy cryptocurrencies through the following methods:
Bank deposit (you just have to select your national currency).
Credit Card (this is one bad process because can take more than 10 minutes to do it).
P2P transaction (peer-to-peer transactions are good because all of them have 0 fees).
Funds (download a digital bank through Playstore for doing this).
Don’t matter what is your favorite method to buy your cryptocurrency, you will need to make a good analysis if the day is good to buy your chosed coin, or it is a perfect day to sell your cryptocurrency, in the following screenshot printed in 07/27/21 we can see that after the markets start to open one more time the price of the cryptocurrency, named: Bitcoin is rising the value(the pandemic was the perfect opportunity to make the Bitcoin the price of more than $30,000 during 2020), this can be a good opportunity to sell all the bitcoins that you have in your wallet.
If you have chosen the Bitcoin to trade and/or operate in your wallet probably you will see the next chart in your digital wallet, the chart is representing the Bitcoin movement during the day you have chosen to operate, read some articles before you start this process can be good you will avoid many mistakes after following some simple basic instructions.
A good website to do this basic analysis from many stocks and cryptocurrencies is Investing.com, using this website with strong logic, turning to your reality what is really important in every trade movement, and investment.
3.D How to withdraw your money?
Carefully, if you have chosen your favorite currency to withdraw your money the process is very simple, as you can see in the following screenshot:
Write in a paper how much amount of money are you needing in the process of withdrawing and pay attention to the next steps the exchange will show to you on your mobile phone, and/or computer, if you don’t understand all these simple basic processes you can send a message to customer support, and someone will reply you with the specific answer to your question, after pressing the ‘’Withdraw’’ option you will see the following photo in your notebook screen:
In this process, you just have to know what is your address, and your Network(if you have any trouble with this type of information you can watch the Video Tutorial on the right side of your screen, in the ‘’FAQ’’ list, and/or read the article, entitled: ‘’How to Withdraw Crypto Step-by-step Guide’’.
4. Who should use the Binance?
As was mentioned in the book, named: The Fourth Industrial Revolution the new technologies that are emerging in our modern society will help us in the future, the same thing we can tell for Binance exchange, most of the countries all over the world are creating new websites with payment through cryptocurrencies, like LaborX (blockchain jobs platform), now that we are living in a technological world that is every day evolving more and more, must have to be essential to each country in the planet Earth not only understand the cryptocurrencies, the new technological devices but everybody can use this type of platform, making the world more connected, and use this kind of knowledge to make a new type of payments, and economies.
Everybody is welcome to make some investments no matter how you are, where are you from, no matter what is your religion, and color of your skin you are invited to earn a big amount of money through Binance (like I write before have many countries across our planet today seriously interested in making use in cryptocurrencies like payment methods).
5. Conclusions:
Most people all over the world living in any country have a dream to make financial freedom a reality in their lives, the cryptocurrencies were born with the purpose of earning money without having to pay anything to the local or global governments, Binance is a good tool to make this dream happens in your life.
We can see that even during the crisis of 2020 people a percentage of people have seriously interested in having more knowledge about digital marketing, and as a consequence of this fact most of them have read some books about cryptocurrencies, a percentage of these people probably will open a new account in a cryptocurrency exchange, so why not Binance?
The simple process of opening an account in the exchange can make people really happy, but like everything in our lives earning money require knowledge, and books use your hobby time to increase your knowledge about cryptocurrencies and learn new skills to use and received more money in your Binance account.
If you have any questions about how to make a complex process on Binance you are free to join the multiple forums on the internet with users talking about cryptocurrencies, and how it is totally important each step during the specific task.
The Fourth Industrial Revolution(the same name as the book written by: Klaus Schwab) shows us the inequality of the world and how it is important to use new technological devices to save people from these kinds of problems without any great damage to future generations on the planet.
Hopefully, we can see a light at the end of the tunnel, more and more people are interested in earning more and more money through cryptocurrencies, for this reason, we can see a big diversity of platforms and websites on the internet dedicated to helping beginners to understand the new world of the digital coins, websites, and groups with the purpose of giving away from some coins are not difficult to find through the many social media accounts, like Facebook groups, Discord servers, and much more content, for this reason, we are living in a real change in our world.
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