With the current increase in acceptance of the cryptoworld and the many uses cryptocurrency is currently being used for you might be wondering if it is a good idea to start investing some money. This is a basic guide on how to use one of the main exchanges: Binance.
Binance is a Chinese exchange founded in July 2017 and it has very rapidly ascended to the best exchanges worldwide both in terms of trading volumes and reputation/reliability. At the time of writing of this article, it sits first in Coinmarketcap’s ranking for “Exchange Score” and second for volume, and you can check updates of these rankings here.
Many times, readers decide to look at an article, and after some minutes of reading, they realize it is not exactly what they’ve been looking for. This is a very introductory guide on the instruments of the crypto exchange Binance, where we are going to teach you how to set up your account and understand how this exchange works. Little by little, start understanding the concepts and how these tools work and being able to get the most out of these platforms. This article isn't a trading guide or a guide for financial advice and the examples mentioned are completely for educational purposes. The crypto market is a very volatile one and it can be very dangerous if one trades without knowledge. There are many tools like margin trading and options that make your portfolio even more volatile, therefore it should be very clear that no advice on trading strategies or currencies to trade should be followed from this article. You should invest very carefully in these markets and at your own risk.
1. Setting up your account
This is the easiest part but a fundamental one.
First, look in your browser for https://www.binance.com. You must enter the correct page because there are phishing scams everywhere. They change or add a letter to the name of the website or its link, and steal your personal information and money.
Once you are on the page click the yellow button that says register. Then insert your email, a safe password, and there you have an account.