Binance Stock Exchange Overview
The popularity of cryptocurrencies is growing at a rapid pace. It is for this reason that new exchanges are actively emerging that trade altcoins and bitcoins. Some sites are aimed at beginners - they offer a minimal set of functions. Advanced traders choose large exchanges for work on which more developed trading instrument.
For successful trading, a trader needs to approach the choice of an exchange competently... Among the variety of platforms, the exchange is especially popular Binance... She received recognition from traders thanks to simplicity, reliability и functionality... Next will be described история occurrence, features Exchange Binanceas well as her benefits и shortcomings.
Practitioners will find it helpful to familiarize themselves with the order of Deposit, rules output coins. At the final stages of the review, you will be able to get acquainted with useful recommendations for independent bidding.
A little history of the Binance exchange
Area Binance was founded in the summer 2017 of the year. The legal registration and headquarters of the company were initially located in China... Later, the management decided to transfer them to Malta... As you know, in China very strict laws on cryptocurrency have been passed. In Malta, on the contrary, the attitude towards it is more loyal.
Founder of the exchange Binance is Changpeng Zhao. Довольно часто его имя используется в сокращенном виде — CZ... Changpen has extensive experience in developing trading systems. At one time, the specialist successfully collaborated with the Tokyo Stock Exchange. Thanks to a special approach, it was bred to лидеры.
Exchange progress Binance happened so quickly that at the beginning of 2018 the registration of new users was suspended. In just one day in January, the exchange received 240 thousand applications from new users. Trading volumes were also growing at a rapid pace. Ultimately the exchange Binance came out on top in the world in terms of trade turnover cryptocurrency.
Features of the Binance exchange
Before registering and working on exchange users are encouraged to read her features и virtues... This will help you understand the principles and mechanism of the site.
Advantages Binance Exchange
Add to the list of positive characteristics of the exchange Binance can be attributed:
the largest list of altcoins among all exchanges: more than a thousand trading pairs are available on the site ETH, BTC, BNB и stablecoins... Remarkably, the developers are not going to dwell on achieved... The number of trading pairs will increase;
self-sufficiency of the ecosystem: includes marginal и spot markets as well as the market derivatives (options and futures). Users have the opportunity to work with various financial instruments on one site. This opportunity will be appreciated not only by investors, but also by traders;
largest trading volumes: exchange liquidity Binance high. It is this characteristic that increases the chances of selling Crypto-currency immediately, without noticeable slippage;
the possibility of receiving a prize: among traders there are constantly Competitions with a draw prizes in cryptocurrency. Once on the site Binance raffled off car Maserati;
ICO — IEO Launchpad: the exchange regularly lists new crypto-currency immediately after graduation IEO or ICO... Since cryptocurrency projects are considering an exchange Binance as a priority platform, the start of trading for new promising coins takes place regularly;
deposits in fiat: now the exchange Binance takes various fiat currency. Any restrictions on the amount of the deposit no... However, in this case it is required verification account. To date Binance offers the maximum number of trading fiat steam к cryptocurrency;
system security: exchange guide Binance takes security very seriously. Therefore, during the registration of an account, a two-factor authentication (2FA). For additional account protection, the user is recommended to link to a static IP, indicating the withdrawal of the cryptocurrency to specific the address. Account protection level is high international standards;
small commissions: on the site Binance customers are charged in total 0,1% for each deal made. For market orders, more than high commission. Special terms of cooperation are offered for liquidity providers and market makers. By specifying the payment of the commission in the account settings Binance Coin (BNB), it will be possible to get 25 percent discount. You will have to pay a small percentage for the withdrawal of funds, the deposit takes place without charging a commission. Any restrictions on the amount introduced no deposits. However, additional verification may be required if more than 2 BTC.
Disadvantages of the Binance exchange
As for the disadvantages, the exchange Binance there are practically none. Basically, all user claims are directed to the service technical support. Despite the fact that users are asked to contact representatives of the site via email or chat, receiving a response may drag on... This is most likely due to the fact that the exchange has a huge number of users. Consideration of each issue requires time... The negative aspects can also include the lack of phone For communication.
How to use the Binance exchange
The features of using the exchange will be described below. Binance for trade cryptocurrencies on spot market. To start working on this site, you need to go registration.
Opening of an account
User needs to visit Home and click on the button "Register". To do this, the system will require you to enter an email address and select reliable password. After that, you will need to confirm the email address by clicking on the link in the letter. The account in this case will be activated... The system will also allow you to choose the most suitable method two-factor authentication. It should be recalled that 2FA provides reliable account protection.
Members Binance have the ability to make deposits using the most popular payment methods (debit or credit map). The deposit can also be made in any cryptocurrency supported by the exchange. For example, when choosing a deposit in bitcoins [BTC] to deposit funds you need:
- hover the mouse over "TST Wallet"And choose"Fiat and spot. Deposit and withdrawal of funds";
- on the left side of the page, select “Main account"And on the right click"Entering».
The next stage is choosing a cryptocurrency to open Deposit... On the right side of the screen, you can see the address for the deposit, which needs to be copied (click "Copy address"). When choosing coins, it is important to remember that each cryptocurrency has its own address deposit corresponding to the selected network. For translation you need to choose protocol correctly... The format of the address for input must match the format supported by the wallet.
Coins are credited to the balance in approximately 1-60 minutes after performing these operations. The user can track the status of the transaction in observer blocks of bitcoin, which I talked about here. The receipt of funds to the account is displayed in lower parts of the page.
How to start trading
To make a deal, you need to select the item "Trading"And click on the button"classical". Other items are also presented in the drop-down menu - "Margin"And"Advanced". These options are for more experienced traders. On one account, you can simultaneously activate several wallets for trade on optional, futures и marginal markets.
Ideal for beginners spot market. Exchange interface Binance carefully thought out - all elements are located succinctly... The following will show you how to purchase Litecoin (LTC) for Bitcoin (BTC). If you need to purchase another coin, you must complete similar actions.
At the top of the screen, in the list of cryptocurrency pairs, you need to select LTC-BTC... By clicking on the icon asterisks, this pair will be added to "Featured". The graph in the center displays information about the selected pair in the mode real time. The user must make sure that "Spot", And the order type is set to"Market". You can specify the size of a buy order in one of the following ways:
- identify number coins to buy and enter digital the value in the box below;
- proceed from the percentage of the wallet balance. For example, with a deposit of 1 BTC, 100% is selected to buy LTC. If you need to use only part of the deposit, just move slider at the optimal percentage.
All you need to do next is to click on the "Buy LTC". The order after these actions will be filled Instantly... Selecting the "Market"Allows you to purchase cryptocurrency immediately, at the current price.
Choice "Limit»Means deferred order. It is not executed instantly, but only thenwhen the price will be reduced to value of course... It is better to choose this method for short-term investors or for experienced investors. traders... It is more advisable for beginners to use market purchases.
Features of withdrawal of funds
To withdraw coins, just click on "TST Wallet"And choose"Fiat and spot. Deposit and withdrawal of funds". After registering on the Binance platform, you need to activate two-factor authentication 2FA... By choosing a coin for output on the left, you need to enter address the wallet to which it is planned to carry out translation.
It is important to make sure the correctness introduced addresses. The best way for error-free data entry is copy the address from the wallet and insert data in the corresponding field. In a special column, you need to enter the number of coins and press the button "Send". Withdrawal is performed automatically and usually takes no more than 30 minutes. As a rule, this time depends on the degree loads networks. The transaction status can be checked in observer blocks, which I am about here... After the first confirmations you don't have to worry about the money being credited to your account.
Who benefits from using the Binance exchange
There is two the way the interface is displayed spot market - basic (classic) and extended (advanced). This is one of the main factors that ensure the popularity of the exchange. Binance... The site is perfect not only for beginners, but also for experienced users.
For inexperienced users, it is better to use the basic functions. Having mastered all the tools, you can safely switch to extended display section. More useful functions are available here.
To use this option, you need to click on the section "Trading"And choose the option"Advanced". The extended interface differs from the basic one not only external view, but also the presence of additional OCO orders.
This mode allows you to use whole tools. Orders in this case can be placed not only manually, but also by condition execution.
Desktop and mobile application
Developers Binance also created a trading terminal for desktop (Linux, Mac, Windows) and also for mobile devices based on iOS and Android. To install the application on the device, just scan QR Code and loading will take place in automatic order.
Detailed overview of the exchange Binance will allow to accept right decision regarding its use for crypto exchange и trade... Many power users will agree that today Binance is one of top trading platforms cryptocurrency... In any case, a review of the exchange will allow closer get acquainted with her и principles her work.