Thanks to ICO funding in 2017, Binance has launched in the first place. Today, Binance is one of the fastest growing exchanges in the crypto-currency market which basically serves Asian and Chinese markets. However, it has become a great trading platform for other users from countries to the world.
With a modern, ease of use in the interface, super-user experience, and ultra-low transaction fees, Binance is a potential trading structure to outperform large trading platforms like Bittrex and Poloniex.
The Reason Why You Should Open An Account In The Binance Right Away
Binance is developing at an astonishing rate and if this keeps up, it will be one of the largest crypto-currency exchanges around the world.
Moreover, several latest coins or tokens that had an ICO would have a higher propensity to be listed on Binance compared to others.
Thus, if you have missed an ICO and you want to reach a hold of a regular coin, this would be your recommended choice of exchange because of its large trading volume with better prices and the higher ability to buy and selling.
How To Open An Account In The Binance
Step 1: Access the page of the Binance
You should go to the https://www.binance.com/ and be sure to bookmark the page because there have been several situations of phishing websites which mirror the real website. You should also check the URL and see the Secure Certificate to verify which an original website is.
Step 2: Finish the sign-up process
You should click on the Register tab in the top right-hand corner of the page and add the vital information.
Also, you need to have a long and capricious password to have solid secure your account. Authentic yourself and click on Register to proceed and you will receive a confirmation email.
Once registered with Binance, your account will be in Level 1, at this level you can only withdraw up to 2BTC per day. In order to upgrade to level 2 up to 100BTC per day, you need to verify your identity with Binance, the Binance team will manually validate for you.
At Binance's account management interface, you should click Submit Verification Documents.
You fill out the information as follows:
- Type: Select International
- First name: Enter your name
- Last Name: Enter your first and last name
- Gender: Select a gender
- Country: Select your country
- Passport ID: Enter your passport number. If you do not have a passport, enter your ID or driver's license number.
In the Passport Cover category, you should upload your image in the right format. If you enter your Passport number, this section captures your passport photo. If you enter your ID or driver's license number, you will be given a photo ID card or driver's license.
In the Passport Cover category, you also upload your image. If you enter your Passport number, this item will take a picture of your passport. If you fill out your ID or driver's license, this section will take a photo of you behind your ID or your driver's license.
In the Selfie With Photo ID and Note category, you need to prepare a sheet of paper, write the line "Binance" with the current date, then, attach to Passport. Please note that:
- The paper must be dated from Binance with the date of the current date;
- Make sure your face is clearly visible & all the details on the paper are well read, not blurry;
- In your image uploading in each category, you should select the similar of your photo;
- When you fill in your information from your ID card or your driver's license, you should follow it systematically.
Step 3: Enable 2-Factor Authentication (2FA)
After verifying an account through your email, a pop-up should appear on the screen for the first place you log-in and promptly enable 2FA to improve your security. You should read more information in the Guide to Crypto-currency Security: Activating 2FA.
Furthermore, you should recognize the differences between Coins, Tokens, and Altcoins as well.
How To Start Depositing Into An Account
Step 1: Find the Deposit page
At the first page you see when you log-in, you need to click on the Deposit o Withdrawals button under the Funds tab on the right-hand corner.
Step 2: Select the coin to deposit
You should search the coin which you want to deposit and press this button. It is crucial to only click the deposit button which is unique to the coin you are going to deposit.
If you are depositing Bitcoin (BTC), be sure you click the Deposit button for the BTC only! Each coin is different and the deposit platform is no also similar. Search for the coin in the search field to speed up the process.
Step 3: Move your coins to the Generated Address
To transfer your coins to the Generated Address, make sure to find the right field under BTC Deposit Address. If you want to transfer BTC from your wallet or other exchanges to Binance, this will be the accurate address you send your BTC at.
Step 4: Check your deposit history
How to view your deposit history? Check in the Funds tab and Deposits or Withdrawals tab because all your trading history would be shown right there.
The Differences Between Coins, Altcoins, And Tokens
Altcoins are alternative crypto-currency coins which often used interchangeably. Altcoins simply names to coins that are an alternation of Bitcoin.
Most of Altcoins are a variant of Bitcoin, which built using Bitcoin’s the first time. They have also the conventional protocol with changes to its dormant codes. Thus, you can set new coin with a different set of features.
A commonality of all Altcoins is that they have their own independent blockchain where all transactions relating to their original coins.
Tokens are another representation of an asset or utility which displays on top of another blockchain.
Tokens can appear for other assets which are tradable and compatible from commodities to loyalty points and other crypto-currencies.
Making tokens is an easy process because you do not have to moderate the codes from a specific protocol or build a block chain from scratch. So, you just need to follow a basic template on the block chain such as the Ethereum platform, the Waves interface, etc. and make your own tokens clearly.
The functionality of making your own tokens is made accessible through the usage of smart contracts.
Additionally, programmable computer codes which are self-controlling and you do not have to contact the third parties to operate. It is truly super amazing at all!
How To Sell Coins In The Binance
Selling a coin is the opposite of buying, you have two options:
· Immediately sell to those who need to buy in the green column
· Place a sell order so that the order appears in the red column, waiting for matching order (If the price increases you will benefit from it. If the price down, you will lose the opportunity to sell good price).
As mentioned earlier, the Binance is a possible crypto-currency market that everyone can become a true investor for the upcoming time. It has many good points that you should not miss out when you want to improve your passive income this year.
Visit Benance and get more money right now !