Binance Exchange – Investor’s Guide

Binance has become so popular due to some of the factors such as availability in multiple languages, very neat user interface, and it also enables processing the orders at an extremely high speed.

Binance exchange is available only for trading cryptocurrencies, hence, it is not available for any FIAT wired deposits.

Why should I open a Binance Account?

Binance is growing at a very fast rate, and if it will keep growing, it will soon become the biggest crypto exchange worldwide for trading altcoins. Many newly launch coins and tokens are getting listed on Binance as compared with the other major exchanges (Poloniex and Bittrex). If you have missed some of the ICOs, you can look for a some of them on Binance.

How do I open a Binance trading account?

Click on the ‘Register’ button which is present in the right corner of the webpage and provide all the required information. For Password, follow the guidelines and make a strong password. Finally, retype your password and then click the ‘Register’ button. Check your email account inbox where you will get an email for confirmation of the new account.

Step 3: Enable 2-Factor Authentication (2FA)

When you log in for the first time, a pop-up will show up and ask you to enable the 2FA which will help in increasing your account security. If you are new to 2FA, you’ll need to download Google Authenticator app and then scan the QR (or enter the secret key) in order to get a 1-minute changing code.

Step 4: Deposit funds

Go to “Deposit Withdrawals” under Funds menu item

On the top right corner of the main menu, you will find the tab named as ‘Funds.’ Under that, select the ‘Deposit Withdrawals’ button, and it will open up the following deposit page:

Now select the coin you wish to deposit

You will find the list of all traded coins on that page. Search for your coin which you want to deposit and then press the corresponding button named ‘deposit’ which is present on the same raw. Once pressing, a new dedicated wallet will be created (this is a wallet belongs to your account on Binance).

The wallet address for each coin is different, make sure you do deposit only the specific coin to its wallet, otherwise it can result in complete loss of the funds.

Now, send your coins from your own wallet (or exchange) to the new generated address:

Under the field named as ‘BTC Deposit Address,’ the address generated is the one you will need to send Bitcoins to. This address will be used for transferring the coin from your wallet or from any other exchange to your Binance account.

View your history option: You can be able to see the history of deposits (and withdrawals) under the menu item ‘Funds’, and then ‘History’ on the list.

Step 5: Extracting a Buy or Sell transaction

Select “Basic Exchange” under “Exchange” menu item. Now select desired pair from the right pane. Use the search field for faster navigation.