Binance is one of the cryptocurrency exchanges that offer a platform for trading different cryptocurrencies. In April 2021, Binance became the world’s largest cryptocurrency exchange in terms of trading volume.
The Binance Cryptocurrency trading was founded by Changpeng Zhao. And Changpeng Zhao is a developer who had formerly built high-frequency trading software.
Initially, Binance was located in China. However, it moved out later due to the increasing regulation of cryptocurrency in China.
The Binance exchanges offer trading in over 45 virtual coins. Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB), and Litecoin (LTC) are not left out.
Some of the key things you should know about the Trading Platform
Below are some of the key takeaways about the trading platform:
- It is an exchange where users get to trade cryptocurrencies. And they support plenty of the most commonly traded cryptocurrencies.
- The trading platform has got Binance Coin, which is its own token currency.
- The cryptocurrency exchange offers a crypto wallet for its traders. There, they can easily store their electronic funds.
- The crypto trading platform has also got supporting programs that assist traders in making investment decisions.
The Binance US offers lower trading fees and much more cryptocurrencies, unlike other providers. However, it is not as large a selection at its parent site.
It has over 50 cryptocurrencies available and it also has low trading fees. However, what you might not like about the crypto exchange is the fact that fewer crypto-to-crypto currency pairs than the worldwide Binance site.
In all, it is not available in 7 U.S. states.
The cryptocurrency trading app is available for download on Google Play Store and Apple App Store.
To download the trading app on Google Play Store:
- Open the Google Play Store on your Android phone.
- Once you are there, type in “Binance” in the search bar then search.
Now click on the “Install” button to install and download the app to your device.
To login to the trading platform:
- Visit the official website of the cryptocurrency exchange platform “www.binance.com”.
- Once you are on the page, click on “Log In” at the top of the page.
- On the next page displayed, enter your email and password in the spaces provided there.
- Now that you are done, click on “Log In” to log in to the trading platform.
Is Binance Safe?
Yes. The trading site is being considered as a safe exchange that enables user account protection through the use of 2Fa (Two Factor authentication).
How to Register
Here is how to register on the trading platform:
- Visit the official website of the app “www.,binance.com”.
- Now that you are on the page, click on “Register Now” right on the page.
- On the next page displayed, enter your email and password.
- Then click on “Create Account” to create an account with Binance and begin trading!
How to Trade on the Trading Platform
Trading on the platform is quite easy. Firstly, you have to be a registered member. If not, you can’t do anything on the platform.
The steps above will put you through in registering on Binance. Carefully follow the steps.
While registering, also take note that you will have to provide valid identification for KYC/AML compliance purposes.
Once you have validated your identification, you will now proceed to link your funding source. You only have some options to consider.
You can either choose to make use of a debit card if you plan on making smaller purchases. You directly linking your bank account will provide you with more flexibility. In terms of withdrawals and purchases.
If you are also planning on purchasing BNB tokens, you should do that from Binance too.
The reason is for you to be able to take advantage of the major benefits that BNB tokens provide.
Funding Your Account
Now that you have successfully linked your banking information, you are now set to fund your account. You can easily load USD into your wallet straight from your bank.
The next thing to do is to convert your funds over to cryptocurrency.
The good news here is that Binance offers different kinds of fiat trading pairs that would definitely meet your needs.
Choose the trading pair that you want as well as the amount you wish to buy. Then chill and watch your cryptocurrency arrive in your wallet in some seconds or minutes.