BINANCE is a cryptocurrency exchange that is now one of the largest exchanges in the world in terms of daily trading competing with the likes of Bitcoin, Ethereum, etc. It was founded in 2017 by Changpeng Zhao, who has previously created a high-frequency trading software. Binance provides a crypto wallet for traders to store their electronic funds.

FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin are seen in front of a displayed Binance logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

The exchange also has supporting services for users to earn interest or transact using cryptocurrencies. It also offers programs for miners and to help traders make investment decisions. Binance has its own blockchain-based token, Binance Coin (BNB). You can buy and sell cryptocurrencies on the platform. But firstly, u have to register and log in to gain access to its amazing features. Below are ways to register and log in.

How To Open A Binance Account

Here is how to sign up or create an account with your email.

  • Firstly, visit the site at www.binace.com or download the app from google play store.
  • On the registration page Click [Email] and enter your email address, create a password for your account. Then, read and agree to the Terms of Service and click [Create Account]. Example: your email is youremail@gmail.com and you create your password Daize2020 then click on [Create account).
  • Note your password must comprise of both words and numbers as shown above.
  • Complete the security verification process which looks like a puzzle and sign up with your phone number.
  • The system will send an SMS verification code to your mobile phone. Please enter the 6-digit verification code within 30 minutes. If you can’t or didn’t receive it, click [Resend], or click [Please try voice verification] to use voice verification instead.

Congratulation you have successfully registered your account. Note: For your own account security, I highly recommend you enable two-factor authentication (2FA). Binance supports both Google and SMS 2FA. Before you start P2P trading, you need to complete Identity Verification and 2FA authentication first.

How To Buy And Sell On Binance

As you know, Binance is a trading platform where u buy and sell cryptocurrencies. Before you can buy crypto on Binance, you have to complete the identity verification process known as Know Your Customer (KYC). KYC helps us make sure you are who you claim to be and fulfill our legal requirements. When you are done with the identity verification, you will be able to buy crypto through different methods. . Below are ways and features on how to buy and sell on Binance.

Credit/Debit cards:

This is one of the easiest and straightforward ways for new users. Log in to your Binance account. Tap on the trading button, then click on [Buy]. Choose the currency and fill in your debit or credit card details where necessary and fill out your billing address. Click (add card).

You’ll now find yourself back on the [Buy crypto via card] page. Cross-check the amount and click [Continue]. Double-check the order details and. Then click [Confirm] to finish your payment. Once the process is rightly done You will be credited to the wallet.

Deposit Funds Into Fiat And Spot Wallet:

In this process, you need to deposit fiat currency from banks and use it as an exchange on the platform. Log in to your Binance account. Tap on the trading button, then click on [DEPOSIT ON FIAT]. Choose the currency and fill in your debit or credit card details where necessary and fill out your billing address.  click(add card).

You’ll now find yourself back on the [Buy crypto via card] page. Cross-check the amount and click [Continue]. Double-check the order details and. Then click [Confirm] to finish your payment. Once the process is rightly done You will be credited into your fiat acct

Binance Peer2peer:

This means you can Purchase crypto directly from other users with Binance’s peer-to-peer service.

How To sell Crypto on Binance

 Selling cryptocurrencies is as easy as buying currencies. Below are ways to sell your currency on Binance trading platform

  • Log on to your binanace account. Click on the trading button. Then tap sell
  • choose the currency you want to sell and amount and click sell
  • then select on how you want to receive the fiat money. They offer different fiat channels for users in different countries. Kindly refer to the App to see the available fiat channels for your country.
  • For example, if you’re selling crypto in EUR, the fiat currency will be credited to your [Cash Balance].

They’re different ways also on how to sell your crypto on binance which also involve the peer2peer method. But in this case, you will need to check the p2p for your country, KINDLY refer to the App to see the available P2P channels for your country. For example, if you’re selling in PEN, apart from crediting it to your [Cash Balance], you can choose to receive your fiat via [Bank Transfer] with P2P Trading too.

Closing Thought

If you are an inexperienced trader or a beginner the binance interface and trading view might look confusing and complex at First but with time you will find it amazing and quite interesting while exploring the site or the APP.