Binance | How to Trade on Binance
In this tutorial we will see step by step how to trade Binance and how to buy crypto on Binance. If you only want to have the steps without reading the tutorial, here they are:
Create an account on Coinbase and buy Ethereum.
Create an account on Binance , and get your Ethereum address on it.
Send Ethereum from Coinbase to Binance
Check the status of the transaction within Binance to see if you have received your ETH.
Buy your first BNB to benefit from 50% discounts on fees.
Send us 1 NBB to verify that you have understood everything and thank us 🙂 (The address is at the very bottom of the article)
Create an account Coinbase
Before talking about Binance. Let's talk about Coinbase which is the most commonly used platform to buy cryptocurrency with Euros either through a credit / debit card or by SEPA transfer. Coinbase must be considered as the gateway to the purchase of cryptocurrencies. Coinbase makes it possible to buy Bitcoin, Bitcoin Cash, Ethereum or Litecoin.
The first step is to buy Ether (for example) on Coinbase. Once done, you have to send them to their address Binance to finally have access to countless altcoins.
You can read our full review on Coinbase to learn more, or visit Coinbase right now to buy bitcoins on this platform.
How to use Binance - Example of trading on Binance with BNB
Coinbase - Earn € 10 through this link!
Coinbase is the world's most popular platform for buying and selling bitcoins, ethereums and litecoins.
SEE THE WEBSITE
Buy Ether on Coinbase
Personally, I prefer to trade with Ether because it has lower transfer costs and is generally not as volatile as bitcoin. When buying Ether, make sure that the withdrawal limits are (some exchanges do not allow you to transfer less than 0.1 ETH - about $ 60) and then you are stuck with something that you can not use fully. On Coinbase, you should not have this problem.
Sign up on Coinbase using our referral code ! You will receive 10 € in Bitcoin 🙂
On Coinbase, you can buy BTC or ETH using conventional methods such as credit / debit card purchase or SEPA transfer. The purchase by credit card is instantaneous but the costs are higher than for the SEPA transfer. Attention on Coinbase the costs are not linear, it is better to make transfers of 200 €, no more, not less. If you want to buy for 400 €, it is better to make two purchases, it is played at a few cents, but it's still that!
In the example below, I buy 0.5 ETH with my credit card because it's the fastest way.
buy ETH coinbase
Once you have received your Ethereum, visit Binance to create an account.
Create an account on Binance.com
Once you've created your account on Coinbase, do the same thing on Binance.
Binance is a popular Chinese cryptocurrency exchange, which is popular for its very wide offering of altcoins and its market liquidity. Although the company is still relatively new on the market, it has gained a lot of popularity thanks to its impressive number of registrations at its ICO, but also thanks to its low trading fees (0.1% + a discount 50% if you use their own BNB currency).
You can read our full review on Binance to learn more, or visit Binance right now to create your account.
How to use Binance - Example of trading on Binance with BNB
Binance - Large selection of alternative cryptocurrencies
Binance is the platform for all crypto-traders who want to diversify their portfolio with other altcoins
SEE THE WEBSITE
It's good it's done ? You are now ready to really go into the "underground" crupto and feel your first # FOMO (Fear Of Missing Out). You can invest in altcoins such as XVG, NEO , OMG, ENG, XRP - crypto-currencies that are referred to as Altcoins because they are not generally traded on consumer exchanges such as Coinbase, Gdax and others.
The favorite exchange of many crypto-traders is Binance because of the fact that there are plenty of corners and these reduced fees. Binance is a secure exchange that many people use, Binance charges can even be halved because they have their own cryptocurrency Binance Coin (BNB) which, when used to pay your transaction fees, reduce your fees in half!
To learn more about binance:
Binance is led by Changpeng Zhao and a team spread around the world. It has all the main features that you want to have in a crypto trading exchange like trading pairs with all the main references of the current market (BTC, ETH, BNB, USDT), multiple languages including French, an interface simple and understandable user, and, what is important, the liquidity of the market is extremely high and the speed of execution of order on Binance is done very quickly (up to 1,400,000 orders per second on their site).
Binance does not provide a fiat exchange (eg Euro, USD, GBP), but focuses only on crypto-to-crypto and to negotiate, you will need to send Ethereum (ETH), Bitcoin (BTC) or Litecoin (LTC) to Binance. To do this, we will use Coinbase as explained earlier in this guide.
Find your reception address on Binance
You previously bought your Ethereum on Coinbase. The goal is to send them to Binance. To do this, go to account created Binance to get the address of your wallet, search for ETH then click on the button "Deposit" next to "Ethereum" (do not make the mistake and choose another cryptocurrency like ETC which corresponds to the Ethreum Classic and not to the Ethreum, otherwise you will lose forever the sum sent).
The generated ETH deposit address is your Ethereum permanent address on Binance through which you can send and receive Ethereum from anywhere.
Transfer from Coinbase to Binance
Now that you have your Binance address, to transfer your freshly acquired Ether, you have to go to Wallet, then Ethereum and then "Send".
sending ethereum coinbase to binance
Just paste on Coinbase your ETH address on Binance and the amount you want to send.
Once you have sent your ETH, go to the Binance repository history where you will eventually see your ETH arrive (this usually takes several minutes but can sometimes take between 1 and 2 hours if the Ethereum network is congested).
historical exchanges on Binance
Trader with Binance Coin BNB
If you have followed our registration tutorial on Binance, the first thing you need to do is activate "Use BNB to pay fees" to get a 50% discount on all fees.
Binance Coin (BNB)
18.52 EUR (6.01%)
22 MARKET CAP
€ 1.83 B EUR VOLUME (24H)
€ 131.03 million EUR
Powered by CoinMarketCap
In addition, all ICOs offered on Binance will receive a discount for the use of BNB when you invest, and the long-term promise is to hold a stake in a future fully decentralized stock exchange, which is already underway. according to rumors. There will be a natural deflation because each quarter, Binance will use 20% of profits to buy BNB and destroy them, which will lead to a steady rise in prices (until only 50% of BNB's value remains in circulation).
Binance corner bnb
Access your account settings and make sure BNB is enabled.
How to use Binance and trader with BNB
You are now ready to buy BNB cryptos - go to the basic trading view - this screen is initially confusing, but you'll get used to it quite quickly.
bingo trading screen
The sales wall : This section presents the current BNB sales that we call a Sell Wall. Sales are always marked in RED. In trading, we also call a sale a "short" (that is, shortening your position). You can click on any price in the "Sale Wall" to fill the Sale Price in "6 Buy / Sell".
The wall of purchase : Similar to the "Wall of sale", it displays the purchase requests of BNB, it is the Buy Wall. Purchases are marked in GREEN. In trading, we also call a purchase, a "long".
Cryptocurrencies : I always select the ETH or BNB tab because I never use BTCs. That said, know that you will have more parities with the BTC.
Transaction History : This shows you recently executed orders either by the market or by yourself by clicking on the correct tab.
Open Orders : Your orders open if you ever made a limit order, which I recommend you always do. Market orders are extremely risky given the high volatility of cryptos.
Buying / Selling : Forms to buy or sell your cryptos. A trade in the market will buy / sell at the prevailing market price. A limited order transaction will only execute your order if the price is reached.
If you want to buy 5 BNB instantly, click on the "Market" tab, enter "5" and click on "Buy BNB" - this allows you to instantly buy 5 BNB at the current market price. Know that it is risky, because if the market moves very quickly, you could buy your 5 NBB at a price much higher than you hoped for.
However, I will stick to "Limit" transactions because that is how you will generally trade in the future. Enter the "5" as the quantity and then choose a price that you are ready to buy to buy your NBB and do not want to exceed. To do this, follow the buy / sell wall on the left and look at the charts and determine where the price will land.
Congratulations - you have just bought your first altcoin. Do not forget to make responsible exchanges in the future! If you have any questions, feel free to use the comment section below.
If you liked this article, you can thank us in two ways, either by a tip via one of the addresses below. By sharing our article 🙂