How To Trade Cryptocurrency on Binance [ GUIDE ]

As I checked there is no detailed thread about this on BHW , So I decided to post this tutorial .

What is Binance ?

Binance is a digital asset exchange service. Basically it’s an online platform that allows people to buy cryptocurrencies using Bitcoin. Learning how to trade on Binance will get you in the cryptocurrency game and give the ability to trade basically any coin on the market. Best of all, unlike some other exchanges, Binance offers a truly staggering number of cryptocurrencies for you to buy and sell so you are very likely to find the coins you are looking for on the Binance platform.

Low fees on transactions and withdrawals

One of the biggest draws to Binance is the super cheap transaction fees. Since Binance are in the startup phase, the fees really are some of the least expensive out there. Binance charge nothing for new deposits of coins onto the platform and just 0.1% on the value of trades. To put this in perspective – if you were to use your Bitcoin to buy $100 of Ethereum, Binance would charge you 10 cents.

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How to Set up an Account on Binance ?

Step 1 : Go to : http://binance.com ( use desktop version )
Step 2 : In the top right click on [ REGISTER ]

You must see this image :

Fill out your information. The password you create must be at least 8 characters with ONE capital letter.

After you registered & verified your account , click on login.

EXTREMELY IMPORTANT!

Please, for the God sake , enable 2FA. This is rule number one of the golden rules of trading crypto safely. To set up 2FA, click the “Google Auth” button on the left hand side. This is a crucial step in the process of Binance verification.

This part is very important. There are two things to keep in mind.

1. Your barcode
2. Your secret key

Now you can securely login to your Binance account
By using 2FA, the Google App will give you a code that expires every ninety seconds.

When asked, simply open the app, and apply the 6-digit code that Google provided for that moment in time. Super secure, super easy.

How to Deposit Money into your Binance Account

Once you own Bitcoin, sending it to your Binance Account is a piece of cake. Within the homepage of Binance, just navigate to the top right hand corner.

This is the beauty of Binance coin exchange. It’s ease of use, and it’s ability to work in all major crypto-currencies. Whatever cryptocurrency you wish to transfer to your account, you can do so easily.

For this example, let’s use Bitcoin. You can either scroll down to find your cryptocurrency of choice…
Or you can type it in the search box…

Once you are sure it’s the cryptocurrency you want to trade into your Binance account, click on the “deposit” tab.

This will then show you your Bitcoin Deposit Address! Now to clarify, this is like your banking routing number for Binance. Simply by using this address, you can now receive (“deposit”) or send (“withdraw”) any crypto currency that Binance supports (which is basically all of them).

How to Trade on Binance

Now that we are set up, let’s take a look at the back end of Binance. I’ll explain how to navigate the site, and most importantly, how to trade on Binance.

The backend of Binance is fairly straightforward. To start trading, you need to navigate to the top left and click on “Exchange”…

… and click on the “Basic” tab. Which will then take you here.

Let’s focus our attention to the two most important parts of the screen…

First you have to identify the coins you want to trade. Typically for a newbie, this will mean you are taking your newly deposited Bitcoin, and diversifying your crypto portfolio by investing into new coins (you are a smart person!).

Let’s say you want to take some of that Bitcoin and buy the best performing Cryptocurrency of 2017 – Ripple. Type in XRP (Ripple’s three letter code) into the box under ‘favorites’ in the top right hand corner.

Binance offers a quick and easy way to trade, by clicking on 25%, 50%, 75% or 100%.

For example, let’s say I’m really into Ripple (XRP) and want to use ALL of my Bitcoin to buy as much Ripple as I can. I click 100%…

I can use the .01225392 Bitcoin in this account to buy a maximum of 84 Ripple.

Binance Exchange Fees

As I mentioned before, the Binance exchange fees are really very reasonable and Binance charges just 0.1% on the value of a trade which is less than many of the other popular cryptocurrency trading exchange platforms. It’s free to deposit coins into Binance and you can even cut the trading fees in half if you pay with Binance’s very own coin – The Binance coin. This is probably only worth doing if you are trading tens of thousands of dollars worth of crypto at a time.
Hope you enjoy guys ..

How to convert your small amount balance to BNB

You can click "Funds" —"Balances" then click "Convert to BNB". Later they will be redirected to "Pending Exchange Funds" page.

2. Convertible Funds need to meet the below criteria:

A. Balance estimate available for the single currency is less than 0.001 BTC and greater than 0
B.The token which isn't delisted
C.Tokens in addition to BNB (BNB no need to exchange into BNB)

3. Considering price fluctuation will impact BNB's estimated value. The system only prompts a pre-estimate value as conversion price. The final amount converted to the final BNB is calculated with the real-time market price at the time of the last click to confirm the redemption. In meantime, in order to facilitate the user's exchange, the conversion will only be performed within 5% Price increase.

4. Every single user can only make an exchange for a small asset for every 24 hours (the interval between two operations must be greater than 24 hours)