How to trade on Binance
If you are wondering how to trade on the Binance platform, the first step you should take is to open an account, by following these steps:
Visit Binance website:
The first step you should take to learn how to trade on Binance is:
Visit the official Binance website.
Click on the "Register" button to create a new account.
Enter basic data, such as: email, phone number.
You will receive a confirmation code via email and phone number; enter this code to complete the registration process.
Step 2: Enable additional security
Enable Face Recognition: If you are using a smartphone, it is recommended to enable Face Recognition.
This step will make the login process easier, and add an extra layer of security especially when withdrawing and depositing.
Step 3: Bypass Basic Restrictions
If you are wondering how to trade on Binance, know that after registration, your account will be restricted by some limits, such as: not being able to buy fiat currencies, and having a low daily withdrawal and deposit limit; so do not worry, and all you have to do then is go through the “Know Your Customer” (KYC) procedures, which include uploading a photo of your passport, in addition to uploading your bank statement.
Step 4: Make sure the platform is available in your country
This step is overlooked by many people when they search for how to trade on Binance despite its importance; so focus on it well. It is worth noting that this step is as follows:
Check availability:
Make sure that Binance is available in your country, for example: the platform is available in Saudi Arabia.
Check the legal status: Don’t forget to make sure that using the Binance platform does not expose you to any legal risks in your country.
Step 5: Use the account effectively
Account Security: Keep your password in a safe place.
Start trading: After completing all the previous steps, you can start buying digital currencies and exploring the trading market.
Explanation of how to trade in Binance
If you are wondering how to trade on Binance, after you have logged in and verified your account, simply follow these steps:
Deposit cryptocurrency
If you have cryptocurrencies in other wallets, you can deposit them into your Binance account. To do this, go to the “Deposit” section of your Binance account, and choose the cryptocurrency you want to deposit. You will then see your Binance wallet address. Copy this address, and send the coins from your external wallet to this address.
Buy cryptocurrencies
In order to learn how to trade on the Binance platform, you must know that the platform provides several ways to buy digital currencies:
Deposit local currencies
You can deposit your local currency via bank transfer or bank cards, and after depositing, you can use the balance to purchase cryptocurrencies directly.
Debit or credit cards
After learning how to trade on Binance, you can buy cryptocurrencies directly using debit or credit cards to start trading and making profits.
Person to Person (P2P) Trading
You can buy cryptocurrencies from other users directly via the P2P platform on Binance. It is worth noting that this method provides more flexibility in payment methods, and may be useful if you prefer cash payments or local bank transfers.
Explore Binance Services
After obtaining your first cryptocurrency, you can explore many of the services provided by the platform; so that you can learn how to trade on the Binance platform, such as:
Instant Trading: Allows you to trade a wide range of cryptocurrencies.
Binance Savings: You can earn returns on your cryptocurrencies by depositing them into savings accounts.
Margin Trading: You can borrow to increase the size of your trades.
Automated Trading: You can set up robots to trade based on specific strategies.
Binance Futures: For trading futures.
Binance also offers services such as digital loans, staking, NFT trading, and other services that aim to provide an integrated environment for cryptocurrency users.
How to trade on Binance and use trading analysis
Trading analysis is an important tool that helps traders understand the performance of trading pairs, and identify potential trends and patterns in the markets. Binance platform users can benefit from trading analysis by following simple steps, whether through the application or the website.
