Key Takeaways

Binance Megadrop is a platform that combines Binance Simple Earn and Web3 Wallet to offer early access to token projects before they are listed on the Binance exchange.

Binance Megadrop is set to enhance the overall user experience and foster engaged innovation in the blockchain space.

Introduction

Binance Megadrop is a platform that allows users to participate in token launches and airdrops. It integrates the Binance Simple Earn and the Binance Web3 Wallet, offering users early access to Web3 projects and opportunities to earn rewards through engaging activities.

What Is Binance Megadrop?

Binance Megadrop is a token launch platform that combines elements of Binance Simple Earn and the Binance Web3 Wallet to create an innovative airdrop experience. The platform is designed to provide users with early access to new token projects and a variety of ways to earn rewards. With Binance Megadrop, users can subscribe to fixed-term products, complete Web3 quests, and receive token rewards proportional to their accumulated scores.

Key Features of Binance Megadrop

Early access to token projects

One of the main features of Binance Megadrop is giving users early access to selected Web3 projects before their official listing on the Binance exchange. This allows users to get involved in promising projects at an early stage, potentially benefiting from future growth and development.

Integration with Binance Simple Earn

Binance Megadrop is closely integrated with Binance Simple Earn, a feature that allows users to earn rewards by locking their BNB in fixed-term products. By subscribing to these locked products, users accumulate points that determine their reward allocation in the Megadrop program. The longer the lock period and the more BNB locked, the higher the score and potential rewards.

Engagement through Web3 quests

Another significant aspect of Binance Megadrop is the inclusion of Web3 quests. These quests are designed to engage users and encourage them to learn more about the blockchain ecosystem. By completing tasks within their Binance Web3 Wallet, users can boost their scores and earn additional rewards.

Reward Distribution

The rewards in Binance Megadrop are distributed in the form of new tokens from the projects featured on the platform. The inaugural project, BounceBit (BB), is a BTC restaking chain that allows users to earn a portion of its token supply as rewards. For BounceBit, 168 million BB tokens, equivalent to 8% of the maximum token supply, will be allocated to Binance Megadrop participants.

How Binance Megadrop Works

Step 1: Lock BNB to Earn Points

To participate in Binance Megadrop, users need to lock their BNB in fixed-term products available on Binance Simple Earn. The points earned are based on the quantity of BNB locked and the length of the subscription period. Longer lock periods and larger amounts of BNB result in higher scores, which translate into higher reward allocations.

Step 2: Complete Web3 Quests

Users can further boost their scores by completing Web3 quests. These quests are available on the Binance Megadrop page, where users can find detailed instructions and tutorials on how to participate. Completing these tasks not only increases the user’s score but also enhances their understanding of the blockchain ecosystem.

Step 3: Earn Rewards

Based on the accumulated scores from locking BNB and completing Web3 quests, users receive token rewards from the featured projects. These rewards are distributed proportionally to the user’s score, providing an incentive to actively participate in both aspects of the Megadrop program.

Benefits of Binance Megadrop

Exclusive Early Access

Binance Megadrop offers users the advantage of accessing new token projects before they are listed on the Binance exchange. This early access can be highly beneficial for users looking to invest in promising projects at an early stage.

Engaging and Educational

The inclusion of Web3 quests adds an element of engagement and education to the platform. Users are encouraged to learn more about blockchain technology and the projects they are investing in, enhancing their overall understanding and involvement in the crypto space.

Reward Opportunities

By combining the benefits of Binance Simple Earn and Web3 quests, Binance Megadrop provides multiple avenues for users to earn rewards. This diversified approach ensures that users can maximize their earnings through active participation.

How to Participate in Binance Megadrop?

1. Log in to your Binance account on your mobile app and find the [Megadrop] icon. If you can’t see it, go to [More Services] first.

2. Next, you will see the selected Web3 projects. You can navigate each project’s page for more information about its participation period, quests, reward distribution, coin listing time, tokenomics, etc.

3. If a project is available, you can complete different quests to earn points and get rewards based on your score.

4. Each project may have a different set of quests. For example, you can earn points by subscribing your BNB to Simple Earn’s products or by connecting your Binance Web3 Wallet to the project.

Binance Megadrop vs. Launchpool

While both Binance Megadrop and Launchpool are token launch platforms, they have some key differences regarding subscription, reward calculation, and types of projects. 

Subscription

Binance Megadrop: users participate by subscribing their BNB to Binance Earn Locked Products and completing custom Web3 quests.

Binance Launchpool: users participate by subscribing their BNB to Binance Earn Locked Products, BNB Vault, or by locking other tokens into the Launchpool platform directly.

Rewards

Binance Megadrop: based on the subscription volume and lock duration. Reward boost is available through Web3 quest completion.

Binance Launchpool: based on Launchpool subscription volume. There are no reward boosts.

Project types

Binance Megadrop: new tokens only.

Binance Launchpool: both new and existing tokens.

Closing Thoughts

Binance Megadrop combines the features of Binance Simple Earn and the Binance Web3 Wallet to create a unique and engaging token launch platform. By offering early access to new token projects, engaging users through Web3 quests, and providing multiple reward opportunities, Binance Megadrop is set to enhance the overall user experience and foster engaged innovation in the blockchain space.

Further Reading

Your Guide to Binance Spot Trading

A Beginner’s Guide to Binance Earn

Your Guide to Binance Launchpad and Launchpool

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Binance Launchpad and Launchpool offer users diverse opportunities in the crypto space, from early access to innovative projects to earning rewards.

The Binance token launch platform provides a secure environment for both projects and users interested in joining crypto crowdfunding events.

The platform’s holistic support includes initial token issuance as well as guidance from Binance’s listing and investment teams.

Introduction

Binance Launchpad and Binance Launchpool are both part of Binance’s token launch platform. These platforms are designed to foster innovation by providing support to aspiring and existing blockchain projects.

Binance is constantly looking for strong crypto teams with a unique and innovative vision. Its token launch platform offers a full range of offerings, from advisory services during token issuance and launch to post-listing and post-launch marketing.

In this guide, we will cover what Binance Launchpad and Launchpool are, their differences, potential benefits, and how you can get involved as a user or project team.

Binance Launchpad: Pioneering Crypto Crowdfunding

Before Binance Launchpad, it was common for blockchain projects to raise funds and launch their tokens via independent crowdfunding events, known as Initial Coin Offerings (ICOs). However, this old school crowdfunding approach was often marked with technical failures, fraud, and a serious lack of user protection.

In 2019, Binance Launchpad was created, pioneering the concept of Initial Exchange Offering (IEO). The introduction of IEOs on Binance Launchpad caused an important paradigm shift in the crypto crowdfunding space, benefiting both blockchain projects and their supporters. Since then, projects have been able to raise funds, and users can support these projects in a safer and more convenient way.

The Differences Between Binance Launchpad and Binance Launchpool

Binance Launchpad and Binance Launchpool have similar goals and are part of the same Binance token launch platform. However, there are important differences between the two.

Binance Launchpad was created in 2019 to introduce a new method for crypto crowdfunding. Binance Launchpool was introduced in 2020, allowing users to lock their assets to get new assets in return.

What Is Binance Launchpad?

As we’ve learned, Binance Launchpad is the pioneering platform for Initial Exchange Offerings (IEOs). Launchpad allows users to purchase new tokens as part of an IEO. It has revolutionized crypto crowdfunding by providing a secure and efficient means for transformative blockchain projects to raise capital.

Binance Launchpad prioritizes user and project protection, offering top-notch security during token sales and eliminating the need for projects to create their fundraising platforms, reducing susceptibility to attacks. It facilitates growth for deserving projects by providing exposure to millions of global users, ensuring world-class liquidity and multiple trading pairs post-launch.

In addition, the platform's holistic support includes initial token issuance as well as guidance from Binance's listing and investment teams, which carefully evaluate Launchpad applications. With Launchpad, crypto projects benefit from token launches within a trusted platform, leveraging Binance's status as the world's leading exchange to access a vast community of crypto holders and investors.

Binance Launchpad benefits

Early access to innovative projects

Safe token launch environment

Global exposure

Fair token distribution

World-class market liquidity

Professional guidance and support

What Is Binance Launchpool?

Binance Launchpool enables crypto holders to lock their assets to earn new tokens. Unlike Binance Launchpad, which primarily involves token purchases, Launchpool allows users to receive new project assets by locking BNB and other supported tokens at no cost.

There are multiple benefits to participating in Binance Launchpool. First, the process of earning new tokens is very simple: you lock tokens with Binance and get rewarded with new tokens. The rewards are proportional to your subscription amount and the Launchpool period.

Binance Launchpool offers flexibility in earning tokens, allowing users to receive accrued rewards at any time and to unlock funds at their discretion. Also, the platform extends Binance's support to projects featured on Launchpool, offering advisory services, community engagement, and marketing reach. 

Binance Launchpool benefits

Earn from locking assets. No purchase is required.

Flexibility and control.

Early access to innovative projects.

Safe token launch environment.

Global exposure.

Fair token distribution.

World-class market liquidity.

Professional guidance and support.

How to Access Binance Launchpad and Launchpool

1. Log in to your Binance account and find [Launchpad & Launchpool] at the top menu.

2. Next, you will see Binance’s Token Launch Platform page. The first section will show upcoming or active token sales (if any).

3. If you scroll down further, you will see the Launchpad section.

4. You can click [View More] to see all previously launched projects and their respective data. This will take you to a separate landing page. 

You can switch from one section to another using the navigation buttons at the top.

How to Use Binance Launchpad

Binance Launchpad uses a subscription format. This means users have to commit a certain amount of BNB to the crowdfunding event (token sale). To join a Binance Launchpad token sale as an early supporter of the project, you have to hold some BNB in your Binance wallet and subscribe to the token sale during the subscription period.

Below is an example of a Launchpad token sale. The subscription period is closed, and the token sale is finished, but we can use the information as a reference. Notice that the token sale lasts a few days, from the BNB Holding Calculation Period to the Final Token Distribution.

This page also includes the project’s website, whitepaper, research report, detailed information about the sale rules, and an FAQ.

How to Use Binance Launchpool

Binance Launchpool allows users to acquire new token rewards by locking their existing cryptocurrency holdings. The locking is usually done in BNB or a stablecoin like FDUSD.

To participate, head to the Binance Launchpool page and find a project you want to support that is currently open for farming.

In this example, there are two farming pools, one for FDUSD and one for BNB. If you have both tokens, you can allocate your funds into different pools by clicking [Custom Allocation].

The total rewards, farming period, supported tokens, and APY estimate will vary from project to project. After locking your assets, you will start earning the project tokens. When the farming period is over, your locked assets and all earned rewards will be sent automatically to your Binance Spot account.

Closing Thoughts

Binance Launchpad and Launchpool are powerful tools for crypto enthusiasts, offering access to new projects, exclusive token launches, and opportunities to earn rewards. As Binance continues to innovate, users can navigate the crypto landscape confidently, leveraging these token launch platforms for growth and engagement.

Further Reading

Your Guide to Binance Spot Trading

What Is an Initial Exchange Offering (IEO)?

What Is an Initial Coin Offering (ICO)?

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Binance Pay allows users to seamlessly send, receive, and spend cryptocurrencies for everyday transactions in a secure, contactless, and borderless manner.

With support for over 80 cryptocurrencies, including Bitcoin, Ethereum, and stablecoins, users have a wide array of options for making payments or receiving funds.

Binance Pay offers numerous benefits including convenience, cost-effectiveness, global reach, and advanced security features for both individual users and merchants.

What Is Binance Pay?

Binance Pay is a payment technology that allows users to seamlessly send, receive, and spend cryptocurrencies. It offers secure, contactless, and borderless payment solutions that are perfect for everyday transactions. In this article, we'll explore the key features, benefits, and step-by-step guide on how to use Binance Pay.

Introduction

Binance Pay is bridging the gap between cryptocurrencies and real-world transactions. It enables users and merchants to seamlessly integrate crypto into their daily lives, making it easier than ever to pay for goods and services, split bills with friends, or even book a hotel using digital assets.

One of the key advantages of Binance Pay is its versatility. It supports over 80 different cryptocurrencies, including Bitcoin, Ethereum, BNB, and stablecoins like USDT, USDC, and FDUSD. This wide range of supported assets ensures that users have ample choices when making payments or receiving funds.

Binance Pay is only available to eligible users in supported countries that have completed the identity verification process.

How Binance Pay Works

Binance Pay is easy to set up and use. Users can generate QR codes or payment links to request crypto payments, while payers can scan these QR codes or use the provided links to make payments. This process eliminates the need for traditional payment methods, such as credit cards or bank transfers, making transactions faster, more secure, and cost-effective.

Setting Up Binance Pay

To get started with Binance Pay, users need to have a Binance account and complete the identity verification process – also known as Know Your Customer (KYC) verification. Once verified, users can access Binance Pay through the Binance app or website.

Step 1: Register on Binance

Head over to the Binance app or website and create an account if you don't have one already. You'll need to enter your email address and set up a secure password.

Step 2: Complete KYC Verification

To use Binance Pay, you must complete the KYC verification process. This involves providing personal information and submitting identification documents for security purposes.

Step 3: Access Binance Pay

After completing the KYC process, you can access Binance Pay through the Binance app or website. 

Binance app

On the app, tap the Binance Pay icon on the top right corner of the homepage or go to [Wallets] → [Funding] → [Pay].

Website

On the website, log in to your account and go to [More] → [Pay] at the top menu.

Step 4: Set Up Your Binance Pay Account

If it's your first time using Binance Pay, set up your account by creating a nickname and a secure Pay PIN. This PIN will be used to authorize transactions, so it's crucial to keep it safe. Do not share your PIN with anyone.

Making Payments With Binance Pay

Once your Binance Pay account is set up, you can start making payments in just a few simple steps.

1. The easiest way is to scan the recipient's Binance Pay QR code with your mobile camera.

Alternatively, you can use the [Send] button located at the Binance Pay interface and enter the recipient’s email, phone number, or Binance ID (UID).

2. Select the cryptocurrency and enter the amount you want to send. You can also add a personalized message for the recipient.

3. Review the payment details, including the recipient's information, the cryptocurrency, and the amount.

4. Confirm the payment by entering your Pay PIN or completing two-factor authentication (2FA).

5. The payment will be processed instantly, and you'll receive email and SMS notifications confirming the transaction.

Receiving Payments With Binance Pay

To receive payments with Binance Pay, you can provide one of the following to the payer:

Your Binance account registered email,

Your phone number,

Your Binance User ID (UID), 

Or your Binance Pay QR Code.

1. Via QR Code: Tap [Receive] on the Binance Pay interface to generate a unique QR code. Share this QR code with the payer, who can then scan it to send you cryptocurrency.

2. Via email, phone number, or UID: Provide one of them to the payer so they can use your details when making a payment via Binance Pay.

Benefits of Using Binance Pay

Binance Pay offers numerous benefits for both individual users and merchants:

For individual users

Convenience: Binance Pay allows you to easily send, receive, and spend cryptocurrencies for everyday transactions and payments, eliminating the need for traditional payment methods.

Cost-effective: Most Binance Pay transactions have zero fees, making it a cost-effective solution for peer-to-peer payments. Active users with higher transaction volume may have to pay fees after their monthly threshold is reached. In those cases, the fees will be displayed clearly to users before the payment is confirmed.

Borderless: Binance Pay is a global payment solution, enabling you to transact with users around the world.

Security: Binance Pay leverages advanced security measures, including two-factor authentication and secure encryption, to protect your transactions and personal information.

For merchants

Increased customer base: By accepting Binance Pay, merchants can tap into the growing community of cryptocurrency users and attract new customers.

Real-time payments: Merchants receive payments instantly, without the delays associated with traditional payment methods.

Low fees: Binance Pay eliminates the need for intermediaries, resulting in lower transaction fees for merchants.

Global reach: Merchants can accept payments from customers worldwide, expanding their potential customer base.

Dedicated support: Binance provides dedicated support to help merchants integrate and optimize Binance Pay for their businesses.

Closing Thoughts

Binance Pay is a revolutionary payment solution that empowers users to seamlessly integrate cryptocurrencies into their daily lives. With its user-friendly interface, a wide range of supported cryptocurrencies, and advanced security features, Binance Pay offers a convenient, cost-effective, and secure way to send, receive, and spend digital assets.

Further Reading

Your Guide to Binance Spot Trading

A Beginner’s Guide to Binance Earn

Your Guide to Binance Launchpad and Launchpool


Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Passive investing in cryptocurrencies allows users to earn rewards from their idle digital assets with minimal effort.

Passive investing in platforms like Binance Earn offers benefits such as lower fees, consistent investing strategy, and less time effort.

This guide covers the basics of passive investing and how to get started earning from your crypto holdings with Binance Earn.

Introduction

When people first begin their journey into cryptocurrency trading and investing, they often start with spot trading, which is among the simplest ways of buying and selling financial assets. However, many feel uncertain about what to do with their idle digital assets, so passive investing can be a good choice – and Binance Earn is a great place to get started.

In this article, we will cover the basics of passive investing, its potential benefits and limitations. We will also go through a quick guide on how to get started earning from your crypto holdings with Binance Earn.

What Is Passive Investing?

Passive investing is a way for people to grow their money without working too hard. It means putting money into things like stocks or cryptocurrencies and letting it grow over time. You don't need to check it all the time or do lots of buying and selling. This approach has gained popularity not only in traditional markets but also in the cryptocurrency space.

With passive investing, cryptocurrency holders are able to earn a steady stream of income from their digital assets without the need for frequent trading. In the crypto space, passive income can be generated through various methods, each with its own set of risks and rewards. A few common examples include staking, yield farming, and lending and borrowing.

Advantages of Passive Investing

Lower fees: Passive investing typically involves lower fees compared to actively managed funds, as it requires less frequent trading and asset reallocation.

Consistency: Passive investing usually follows a set investment strategy, allowing investors to maintain a consistent approach over time without the need for frequent adjustments or market timing.

Time efficiency: Passive investing requires less time and effort compared to active trading, making it suitable for investors who prefer a hands-off approach to managing their portfolios.

Limitations of Passive Investing

Market risk: Passive investing doesn’t involve active management to respond to changing market conditions, potentially leaving investors susceptible to market downturns or prolonged periods of underperformance.

Limited flexibility: Depending on the strategy or product chosen, investors may not have the flexibility to quickly access their funds.

Market concentration: Some passive investment vehicles may be heavily concentrated in a few large-cap assets or sectors, increasing vulnerability to risks or market downturns impacting those sectors.

What Is Binance Earn?

Binance Earn is a great place for users to receive passive income from their crypto holdings. It offers a diverse range of products to meet the needs of different investors, from beginners to experienced users.

Binance Earn provides users with access to flexible savings, locked savings, and a few other products – each offering unique features and benefits. Flexible savings allow users to deposit and withdraw their funds at any time, while locked savings offer higher interest rates in exchange for locking up funds for a specified period.

How to Get Started With Binance Earn?

1. Log in to your Binance account and find [Earn] at the top menu.

2. You will be redirected to the Binance Earn interface. Here you can see the available products, such as Simple Earn, High Yield and Auto-Invest.

On the right side, you will find a summary of your holdings and an estimate of your returns in the last 30 days.

3. Scroll down to find a list of available products. Here you can see the different assets followed by estimated APR and duration. You can also use the search function or filters to look for specific assets.

4. To start earning from your holdings, you have to choose a product offering and subscribe to it. Add the amount of funds you want to use, check the summary and click Confirm when ready.

You can check the Product Rules tab at the top for more details on each offer.

5. The Flexible options allow you to redeem your funds anytime. The Fixed ones will require you to lock your funds for a certain period. Below is an example of a Fixed term product, with different lock-up periods.

Closing Thoughts

Passive investing in cryptocurrencies can offer great opportunities for individuals to grow their holdings over time with minimal effort. Binance Earn provides users with access to a variety of products designed to maximize passive earnings while minimizing risk.

Further Reading

Your Guide to Binance Launchpad and Launchpool

Your Guide to Binance Spot Trading

An Introduction to BNB Smart Chain (BSC)

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Inscriptions are pieces of metadata attached to transaction outputs on the blockchain.

The Binance Inscriptions Marketplace is a place for trading and minting inscription tokens.

This guide will introduce the Binance Inscriptions Marketplace and show how you can get started using it.

Introduction

The Binance Inscriptions Marketplace is a place where users can create their own inscriptions and trade over 60,000 inscription tokens, including BRC-20 tokens, Ethereum Virtual Machine (EVM) tokens, and more.

Now, let’s see what inscriptions are, what the Binance Inscriptions Marketplace is, and how to use it for trading inscription tokens.

What Are Inscriptions?

In the cryptocurrency field, inscriptions are pieces of information added or “inscribed” onto satoshis, the smallest unit of BTC. They became popular after expanding the Bitcoin blockchain’s use cases through the Bitcoin Ordinals protocol. Essentially, inscriptions can represent different types of information on the blockchain, including text, videos, images, and more.

BRC-20 tokens are examples of inscriptions. Essentially, BRC-20 is an experimental token standard that lets users transfer fungible tokens via the Ordinals Protocol on the Bitcoin blockchain. Each token created with the BRC-20 standard is an inscription on a satoshi.

What Is the Binance Inscriptions Marketplace?

The Binance Inscriptions Marketplace is a platform within the Binance Web3 Wallet. It offers an interface for trading different inscriptions, including BRC-20 and EVM tokens. The Binance Inscriptions Marketplace provides users with a single environment for interacting with all of their inscriptions, simplifying asset handling.

Users can also mint, deploy, and transfer their inscriptions in just a few clicks using the Inscription Center. This and other features of the Binance Inscriptions Marketplace allow users to manage and interact with their inscription tokens seamlessly.

How Does the Binance Inscriptions Marketplace Work?

Essentially, the Binance Inscriptions Marketplace is a trading platform for inscriptions within the Binance App. Users can move inscription tokens between their Binance Web3 Wallet and the Binance Inscriptions Marketplace to create trading orders. The Binance Inscriptions Marketplace uses several frameworks to improve the trading experience.

The platform implements a BTC Transaction Accelerator. It’s a service that speeds up the confirmation of transactions, especially during periods of network congestion or when a user sets his fees too low. As such, the mechanism can reduce trading delays and process high-priority transactions faster.

Binance Marketplace is also integrated with UniSat. The platform leverages the UniSat API to enhance liquidity and provide a wide range of inscription tokens for trading. As of March 2024, the Binance Marketplace supports the buying, selling, and inscribing of over 60,000 BRC-20 tokens.

How to Get Started With the Binance Inscriptions Marketplace

Let’s walk through the interface of the Binance Inscriptions Marketplace. Then, we will take a look at how you can mint inscriptions and follow up with an example of how to purchase an inscription token.

How to access the Binance Inscriptions Marketplace

1. Log in to your Binance account and find [More] → [Web3 Wallet].

2. Next, locate the [Inscriptions Marketplace] banner in your Binance Web3 Wallet and click on it.

4. It will redirect you to the Binance Inscriptions Marketplace.

5. You will see the list of inscription tokens available for trading. You can use the search bar to find specific inscriptions.

6. You can access the guide on how to manage inscriptions with the button in the upper right corner.

7. You can also view your order history with the other button in the upper right corner.

8. The Inscription Center is where you can mint, deploy, and transfer inscriptions.

How to mint inscriptions

1. The first step is to open the Inscription Center from the main Binance Inscriptions Marketplace interface.

2. Then, select the network and enter the 4-character ticker of the inscription you want to mint. Specify the mint amount and number of repetitions.

3. Check the entered data again and press [Confirm] to mint an inscription.

How to buy inscriptions

1. Start by picking the inscription token. In this example, we will be working with piin.

2. Next, choose the inscription that you want to buy. Press [Buy] to confirm your choice.

3. Check the order details carefully and finish by pressing [Confirm].

 

Closing Thoughts

The Binance Inscriptions Marketplace is a platform enabling the creation and trading of various inscriptions, including BRC-20 and EVM tokens. The marketplace empowers users to explore the full potential of inscriptions with its user-friendly interface, comprehensive features, and frameworks like the BTC Transaction Accelerator and UniSat.

Further Reading

Your Guide to Binance Launchpad and Launchpool

A Step-By-Step Guide on How to Create Your Own Ordinal Inscriptions

Ethereum Virtual Machine (EVM)

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

TL;DR

The Binance Web3 Wallet is an innovative wallet for digital assets that combines convenience, security, and utility.

The wallet offers enhanced security through Multi-Party Computation (MPC) technology and a seamless user experience with access to Binance Bridge and other service providers, facilitating token swaps across different blockchain networks.

Users can explore the world of decentralized finance (DeFi) and decentralized applications (DApps) while also counting on dedicated 24/7 customer support.

What Is Binance Web3 Wallet?

The Binance Web3 Wallet, an integral part of the Binance app, is a user-focused cryptocurrency wallet that empowers users in the realm of decentralized finance (DeFi). 

With the Binance Web3 Wallet, users can easily access the world of blockchain and decentralized applications (DApps). The wallet provides a safe and efficient way for users to manage their digital assets, perform token swaps across different blockchain networks, earn yields, and much more.

How Does It Work?

Binance Web3 Wallet uses Multi-Party Computation (MPC) technology, which is an enhanced cryptographic security system that eliminates the need to store your private keys in a single location. The wallet uses MPC to create three “key-shares”, which are stored separately in your Web3 Wallet, cloud storage, and your device. The key-shares are also protected by your recovery password, which is solely known to you.

Key Features of the Binance Web3 Wallet

Easy to use

You can create a Binance Web3 Wallet in just a few seconds through the Binance app. Unlike other crypto wallets, with the Binance Web3 Wallet setup you don’t have to worry about seed phrases or private keys, making it much easier to use.

Convenience

Seamlessly connected to Binance Bridge and other service providers, the Binance Web3 Wallet facilitates easy token swaps across different blockchain networks while also ensuring the best rates and prices. Users can also explore DApps and generate yield with just a few clicks.

Security

The Binance Web3 Wallet offers important security features, including wrong address protection, and identification of potentially malicious smart contracts. When making transactions, the wallet will notify users when a token or blockchain carries a potential security risk. In addition, every transaction is controlled by Multi-Party Computation (MPC) technology, reducing the risk of single points of failure and ensuring the safety of your assets.

Self-custody

Encrypted by three “key-shares” and a recovery password exclusively known to the user, the Web3 Wallet allows complete autonomy over your assets.

Customer Support

Users can count on a 24/7 customer support service to ensure a safe and smooth experience.

How to Use the Binance Web3 Wallet

1. Log in to your Binance account in the Binance app and go to [Wallets].

2. Next, tap [Web3] and [Create Wallet] to get started.

3. Note that before you can start using the Binance Web3 Wallet, you will have to back it up and set a recovery password.

How to Backup Your Binance Web3 Wallet

1. On the Web3 Wallet initial page, tap [Back Up Now].

2. Connect the Binance App to your cloud storage account (iCloud or Google Drive).

3. Set a backup password and keep it safe. Binance cannot access or reset this password, so make sure you don’t lose it.

4. Back up your key on your cloud storage.

5. Done. Your wallet is ready to use. 

You can easily transfer funds directly from your Binance Spot and Funding Wallet to your Binance Web3 Wallet.

Further Reading

What Is Web3 and Why Does It Matter?

How to Send and Receive Tokens on Binance Web3 Wallet

Disclaimer: The Binance Web3 Wallet is an optional product. It is your responsibility to determine if this product is suitable for you. Binance is not responsible for your access or use of third-party applications (including functionality embedded within the Binance Web3 Wallet) and shall have no liability whatsoever in connection with your use of such third-party applications, including, without limitation, any transactions you dispute. Please carefully review the Binance Web3 Wallet Terms of Use and always do your own research.

Key Takeaways

Spot trading is among the simplest and most traditional ways of buying and selling financial assets.

Binance Spot trading platform offers a user-friendly interface with low fees and high liquidity. It’s suitable for all kinds of traders.

The guide covers the basics of spot trading and shows you how to use Binance Spot so you can easily buy or sell cryptocurrencies anytime.

Introduction

When people first begin their journey into cryptocurrency trading and investing, they often start with spot trading, which is among the simplest ways of buying and selling financial assets. 

Binance Spot is a spot trading platform that offers a user-friendly interface, allowing users to easily buy and sell assets with low fees and high liquidity, making it ideal for both beginners and experienced traders.

In this article, we will cover the basics of spot trading, how it differs from other forms of trading, and some of its advantages. After that, we will learn how to do spot trading on Binance.

What Is Spot Trading?

Spot trading is a direct and immediate form of trading, with transactions settling instantly and without any kind of leverage. It’s one of the most basic forms of trading and can be done with a variety of asset classes, such as cryptocurrencies, stocks, commodities, forex, bonds, and more.

Although spot trading may occur directly between traders, transactions are usually facilitated by an exchange like Binance.

What’s the Difference Between Spot Markets and Futures Markets?

Spot markets execute instant or short-term trades with immediate delivery, while futures markets involve contracts that set delivery for a future date. Spot trading relies on the current market price based on supply and demand. Futures contracts, on the other hand, are based on agreements between buyers and sellers.

What’s the Difference Between Spot Trading and Margin Trading?

Spot trading requires full asset purchase and immediate delivery, while margin trading allows borrowing funds to enter larger positions. Margin trading amplifies both potential profits and losses, offering increased risk and reward.

Advantages of Spot Trading

Lower risk: Spot markets rely solely on buy and sell orders without concerns of liquidation or margin calls. It’s ideal for users who want to buy and hold.

Simplicity: Spot trading is straightforward, making it accessible for everyone and ideal for beginners.

Immediate entry and exit: Traders can enter or exit a trade at any time.

How to Spot Trade on Binance?

In this example, we will go through the Binance Spot interface. Then, we will illustrate how to buy BTC with USDT using a limit order, followed by an example of how to sell BTC for USDT using a market order.

How to access the Binance Spot interface

1. Log in to your Binance account and find [Trade] → [Spot].

2. You will be redirected to the Binance trading interface.

3. On the left side is the order book. Sell orders (asks) are in red, while buy orders (bids) are in green.

4. The trading chart at the center is an interactive chart of the selected trading pair. In this example, BTC/USDT.

5. The trading pair list is on the right side. It contains all available trading pairs on Binance. You can use the Search function to find specific pairs.

6. Below the chart is where you can create buying and selling orders. But to do so, you need to fund your Spot Wallet.

7. For example, if you are buying BTC with USDT, you need to first add USDT to your Spot Wallet. Click the [+] icon to fund your account and choose your preferred method.

How to buy BTC with USDT

1. The first step is to choose an order type. A limit order allows you to set a specific price for your order (not necessarily the current price). A market order will try to fulfill your order as soon as possible at the current available price.

2. If you are using a limit order, specify the price and amount you want to buy and click [Buy BTC] to create the order.

3. You will get a notification at the top right corner of your screen. 

Note that you can track your open orders at the bottom of your trading interface.

4. If BTC reaches your order price, your order will be filled.

How to sell BTC for USDT

The process for creating selling orders is very similar. Let’s see how you can sell your BTC for USDT. In this example, we will use a market order.

1. Choose your order type, set the amount, and click [Sell BTC].

2. Since we are using a market order, the selling order will be created and filled immediately at market price.

How to view my order details

You can view your order history, trade history, and other details at the bottom of your trading interface.

You can also edit open orders by clicking the edit button near Price and Amount.

On the right side, you can click the bin icon to cancel orders individually or the [Cancel All] button to cancel all open orders.

Closing Thoughts

Embarking on the exciting journey of cryptocurrency trading often starts with the simplicity and accessibility of spot trading. Binance Spot, with its user-friendly interface, low fees, and high liquidity, is the ideal platform for both novice and seasoned traders.

Further Reading

Your Guide to Binance Launchpad and Launchpool

An Introduction to BNB Smart Chain (BSC)

What Are Bitcoin Layer 2 Networks?

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Binance is trusted by more than 200,000,000 users worldwide. Join our growing community by opening an account with Binance today. You can start investing or trading in minutes.

To start using Binance, create an account, verify your identity, and choose a payment method for purchasing cryptocurrencies.

Buying crypto on Binance can be done through various methods, such as credit/debit cards, bank transfers, or peer-to-peer transactions.

Remember to enhance your Binance account security by using strong passwords, enabling two-factor authentication, and setting up an anti-phishing code.

Introduction 

A Binance account acts as your gateway into the world of blockchain and Web3, and is the best place to start your crypto trading journey. This guide will teach you how to get started with the Binance exchange. The steps are simple. Open an account, verify your information, choose a payment method, and get your crypto assets.

How to Create a Binance Account

Before you can buy your first bitcoin or BNB, you’ll need to open an account.

1. Head to the Binance homepage and click [Sign Up] in the front page or top right corner.

2. Input your email address and choose a secure password. If you prefer, you can also sign up using your mobile number rather than email.

3. Type the 6-digit verification code you received via email or phone number and click [Next].

4. Create a strong password with at least 8 characters, 1 number, and 1 upper case letter. Don’t share it with anyone.

5. Once you’re verified, you should now be set up with your Binance account. You’re one step closer to buying cryptocurrency, so let's dive into making your first crypto purchase.

How to Buy Crypto on Binance

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.

1. Credit/debit card: the most straightforward option for new users.

2. Deposit funds into your Fiat and Spot wallet: Transfer fiat currency from your bank account and use it on the exchange.

3. Binance P2P: Purchase crypto directly from other users with Binance’s peer-to-peer service.

Purchasing Crypto With a Credit or Debit Card

1. Hover over [Buy Crypto] from the top menu and select [Buy & Sell].

2. Next, select the fiat currency you will be paying with and the coin you wish to purchase. Press the [Add New Card] button to proceed and add your card information.

3. Input your card details and click [Confirm]. Note that you can only use a credit or debit card that is registered in your name.

4. Double check the order details. You can check the conversion rates and fees by clicking at the three dots […] button.

5. If you have read and agree to the Terms of Use and Privacy Policy, tick the checkbox. When ready, click [Confirm] to finish your payment.

6. Once the process is complete, your purchased crypto will be credited to your Binance Spot wallet. Usually, opening an account and getting to this stage can be done within 10 minutes.

How to Trade Crypto on Binance

At some point, you will likely want to start trading cryptocurrencies. If you’re not used to a traditional trading interface, we recommend using the Binance Convert feature. 

1. You can access it by hovering over [Trade] and selecting [Convert & Block Trade] from the Binance homepage.

With the Convert tool, you can pick the cryptocurrency pair you wish to trade using a simple interface. Fiat currencies are also available if you want to cash out or buy crypto with fiat. 

2. Select the coin you are exchanging in the top field and input the amount. Use the bottom field to select your desired cryptocurrency or fiat currency. Note that the default setting is [Market], meaning that you will get the current market price, also known as the spot price.

3. After confirming your selection and clicking [Preview Conversion], you’ll also see a summary of the trade you’ll make.

Once you’re happy with the preview, you can click [Convert] to confirm your order.

4. If you want to create a limit order instead, select the [Limit] option at the top menu. A limit order lets you buy or sell crypto at a specific price or better.

In this example, we are placing a limit order to trade our 50 USDT for the equivalent value in BNB when the price of BNB drops to 610 USDT.

Using the Binance Spot Trading Interface

1. Find the [Trade] menu at the top and click on [Spot].

2. Next, you will find the Binance Spot trading interface.

3. On the left side, you will see the order book:

Sell orders (asks) are in red.

Buy orders (bids) are in green.

4. At the center, you will find an interactive trading chart of the selected trading pair. In this example, BTC/USDT.

5. On the right side, there is a trading pair list, which contains all available trading pairs on Binance. Use the Search function to find specific trading pairs.

6. Below the trading chart is where you can create orders to buy and sell. If this is your first time, you will have to add funds to your Spot Wallet first.

7. For example, if you are using USDT to buy BTC, you need to first add USDT to your Spot Wallet. Click the [+] icon to fund your account and choose your preferred method.

How to buy BTC with USDT

1. To start, choose an order type. With a limit order you can set a specific price (not necessarily the current price). In contrast, a market order will try to execute your order as soon as possible at the current market price.

2. If you are using a limit order, define the amount and price and click [Buy BTC].

3. You should get a notification at the top right corner of your screen. You can track your open limit orders at the bottom of your trading interface.

4. If BTC reaches the order price you specified, your order will be filled.

How to sell BTC for USDT

The process of creating selling orders is almost the same. In this case, we will use a market order to illustrate how to sell your BTC for USDT.

1. Choose your order type, set the amount, and click [Sell BTC].

2. Because we are creating a market order, the selling order will be placed immediately, and if there is enough liquidity, it will be filled instantly at the best market price.

If you are still not sure about Spot trading or want more details on how to use the Binance Spot trading interface, please check out our Binance Spot Trading Guide.

How to Secure Your Binance Account

Using a strong password and our security features will help keep your funds safe. Make sure to start with the following security steps.

Use a strong password and change it regularly

This one is self-explanatory, but you would be choked with the number of people that still use passwords that are simple and easy to remember. Your password should always contain uppercase and lowercase characters mixed with symbols and letters. And of course, make sure you keep it safe and do not share it with anyone.

Enable Two-Factor Authentication (2FA)

We strongly recommend you set your account up with Two-factor Authentication (2FA). This creates an extra layer of security, meaning that even if hackers compromise your password, they would need access to your physical 2FA device to log in.

The Google Authenticator app or SMS authentication are great places to start. Our Binance 2FA Guide can explain more about the process.

Enable the Binance Anti-Phishing Code

When you add an anti-phishing code to your Binance account, every email you get from Binance will have this code displayed at the top. You can manually define what code it can be from a series of letters or numbers.

This way, you can be sure that the message you are receiving is actually from Binance and not from a fake email address. In other words, it helps you prevent phishing attacks.

For more information on account security, please check out Secure Your Binance Account in 7 Simple Steps.

Closing Thoughts

Opening an account and making your first trades with Binance is a small introduction to the world of cryptocurrencies. There’s a lot more to it than just buying and selling on the exchange. If you’ve never seen a trading view before, it can all look confusing at first. Binance Academy is full of trading articles and guides that can help you get started with trading tools and even create your own trading strategies.

Further Reading

Your Guide to Binance Spot Trading

What Is Binance P2P and How to Use It?

Your Guide to Binance Copy Trading

Secure Your Binance Account in 7 Simple Steps

Disclaimer: In compliance with MiCA requirements, unauthorized stablecoins are subject to certain restrictions for EEA users. For more information, please click here.

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.