How to Open an account on Binance
Binance is a leading cryptocurrency exchange which primarily serves Chinese and Asian markets. Launched thanks to ICO funding in 2017, Binance, however, has quickly become a favorite trading platform for English speaking users also.
Why Binance has become so popular so quickly is simple. Compared to other trading platforms like Coinbase, Binance offers low cryptocurrency exchange trading fees of just 0.1%. At the same time, Binance provides traders with one of the cryptocurrency markets most impressive coin offerings.
Where to buy Bitcoin & Start Trading
New digital currency traders often face two problems when looking at how to trade BTC for other tokens.
Leading cryptocurrency exchanges like Bitstamp, will often only list 4 or 5 different digital coins. (Usually Bitcoin, Ethereum, Litecoin, and Bitcoin Cash). This means that if traders want to buy Bitcoin to later buy coins like Cardano, they have to switch between several different trading platforms and incur significant fees in the process.
Thankfully, Binance changes all this. This is because a Binance trading account can allow users to buy and trade Bitcoin, Ethereum, Litecoin, and 45 other digital coins.
How to Register Deposit & Trade on Binance
Because Binance is eager to attract more Western users, signing up to Binance is easy. All new cryptocurrency exchange users have to do is:
Select their preferred language at the top of the Binance.com home page and then click ‘register’
On the next page, input a valid email address, password (password needs to include 6 to 20 characters, upper and lower case letters, and numbers). A captcha will then appear, after which users can click “Register” and have a verification email sent to their email address. Check email folders for the Binance.com verification link (including spam folders) and then click this to verify an account and login
How to Deposit Funds in Your Binance Trading Account
After successfully registering with Binance, a trading account can be funded, simply by clicking “Deposits and Withdrawals” on the top “Funds” menu of a users dashboard. Here, accounts can be funded using BTC, ETH, LTC, NEO and BNB. All users have to do is select their finding address, the token they will be funding with, and send funds accordingly.
How to Trade & Withdraw Earnings
After successfully funding a Binance trading account, all users can start trading any one of over 45 digital assets. This is advantageous as coins like Cardano which are only supported by Binance (and a select few other exchanges), have recently increased in value by over 117%. When withdrawing earnings, however, withdrawal limits are set in accordance which two tiers of full account authentication,
At Tier 1, (which requires no further account verification) Binance users can withdraw the equivalent of 2 BTC worth of cryptocurrency per day. Tier 2 users, on the other hand, can withdraw up to 100 BTC. What is more, all non-Chinese users need to do in order to become fully verified, is provide full name and ID details.
Binance Trading Account Benefits
Despite being a relatively new digital currency exchange, Binance has a rapidly growing trading community, all of whom are quick to laud the many benefits of the platform. This being the case, if you are looking at how to trade BTC and other cryptocurrencies in 2018, make sure to sign up by clicking here. In doing so, you too will start to benefit from what are easily the lowest trading account fees on the current cryptocurrency market.