Hi everyone, if you are looking to learn how to trade coins on Binance, this is the article for you! Binance is one of the largest cryptocurrency exchanges in the world, with a friendly interface and full features for beginners to professional traders. Let's explore how to trade coins on Binance from A to Z!

1. Create a Binance account

If you don't have a Binance account yet, the first step is to register one now.

Step 1: Register an account

  • Go to Binance registration page

  • Choose to register by email or phone number.

  • Then you enter the required personal information and complete the registration.

Step 2: Account Verification (KYC)

  • To trade and fully utilize the features on Binance, you need to verify your identity (KYC). Binance will ask you to provide a photo of your ID (ID/CCCD) and take a photo for verification.

  • This process only takes a few minutes and once verified, you are ready to trade on Binance!

>> See instructions for registering and verifying a Binance account

2. Deposit funds into your Binance account

After creating an account, you need to deposit funds to be able to trade.

Method 1: Deposit with crypto

  • If you already have cryptocurrencies (e.g. USDT, BTC, ETH, etc.), you can deposit to your Binance account by transferring from your personal wallet or from another exchange.

  • Go to Wallet and select Deposit. Select the cryptocurrency you want to deposit and the wallet address will appear. You just need to transfer money to that address and you're done.

Method 2: Deposit money in VND via P2P

  • If you don't have crypto available, Binance allows you to buy directly with VND via P2P.

  • Go to Buy Crypto on the main page, select P2P Trading.

  • You can choose the coin you want to buy (usually USDT or BTC), then choose the seller from the list. After paying via bank transfer, the coins will be transferred to your P2P wallet.

3. How to trade coins on Binance (Basic)

Once you have coins in your wallet, you can start trading coins on Binance. I will guide you through spot trading – a type of trading that buys and sells immediately at the current market price.

Step 1: Transfer coins from P2P Wallet to Spot Wallet

  • If you buy coins via P2P, transfer coins to Spot Wallet to be able to trade.

  • Go to Wallet, select P2P, then click Transfer and transfer the coin you just bought to Spot Wallet.

Step 2: Access the Spot trading interface

Spot Trading on Binance

  • From the home page, click on Trading on the navigation bar, then select Spot.

  • You will see a trading interface with price charts, order books and buy and sell orders.

Step 3: Select trading pair

  • In the upper left corner, select the trading pair you want to make. For example, if you have USDT and want to buy Bitcoin (BTC), select the BTC/USDT pair.

  • The system will display the current price of BTC in USDT.

Step 4: Place buy/sell order

  • Market Order: If you want to buy/sell coins immediately at the current market price, select Market order. Enter the amount of coins you want to buy/sell and click Buy BTC or Sell BTC.

  • Limit Order: If you want to place an order at a specific price, choose the Limit order. You enter the desired price and the amount of coins, then place the order. The order will only be filled when the market price reaches the level you set.

Step 5: Monitor and manage orders

  • After placing an order, you can track the order status in the Open Orders section. If the order is matched, the coins will be added to your wallet.

4. How to trade coins on Binance Futures (Advanced)

If you are familiar with Spot trading and want to experience derivatives trading with leverage, try Binance Futures. However, please note that Futures trading has higher risks due to the use of leverage.

Step 1: Open a Binance Futures account

  • Go to Binance Futures and open an account as instructed above.

Step 2: Transfer money to Futures wallet

  • You need to transfer funds from your Spot Wallet to your Futures Wallet to start trading.

  • Go to Wallet, select Futures, then tap Transfer and enter the amount you want to transfer.

Step 3: Choose trading pair and leverage

  • Binance Futures allows you to choose leverage from 1x to 125x. However, be careful when using high leverage as the risk of loss also increases.

  • Select the trading pair (eg: BTC/USDT) and enter the amount you want to trade.

Trade futures on Binance

Step 4: Place Long/Short order

  • Long (buy): If you think the price will increase, you can place a Long order to buy.

  • Short (sell): If you think the price will fall, you can place a Short order to sell.

  • You can use orders like Market, Limit, or Stop-Limit to optimize your trading.

5. Tips and notes when trading coins on Binance

  • Risk Management: Never neglect to use Stop-Loss orders to protect your account from excessive losses. This is especially important when you trade with leverage.

  • Learn technical analysis: Understanding indicators and chart patterns will help you predict price trends more accurately.

  • Follow Market News: Cryptocurrency market related events and news can greatly affect coin prices. Stay updated with the news to seize opportunities.

6. Conclusion

Trading coins on Binance is a great way to get into the cryptocurrency market.

By mastering the basics like buying and selling on Spot and managing risk when trading Futures, you can optimize your profits.

Start with simple steps and slowly learn advanced strategies to succeed in this market.

>> Register for a Binance account and start trading now

Wish you successful trading and don't forget to share your experience in the comments section!