How to use Binance to buy/sell or trade altcoins?

Binance is world-class blockchain company comprised of Binance Cryptocurrency Exchange, Binance Info, Binance Labs, Binance Launchpad and various other cryptocurrency-related functions. They have users spread across over 180 different countries worldwide. Binance Exchange provides cryptocurrency trading for fintech and blockchain enthusiasts globally. Binance Exchange was launched in mid-July 2017 and has already successfully positioned itself as a steady top ten exchange by 24-hour trading volume at times even surging into the top 4.

How to use Binanace to buy/sell or trade altcoins?


Binance Exchange currently has BNB, BTC,ETH and USDT trading markets available and provides exchange services for a wide range of the most popular cryptocurrencies. It also hosts the Binance.com website in multiple languages including English, Japanese,Chinese, Korean, Russian and Spanish with more to be added in the future. Binance Exchange supports multiple platforms and compatibility across devices including Web, Android/iOS, Mobile HTML5 and Windows/Mac. Binance’s customer support is also available 24/7 for both Chinese and English speakers to quickly resolve any issues that users might have
From its ICO, Binance issued its own coin called the Binance Coin with BNB as the symbol. BNB runs natively on the Ethereum blockchain and follows the ERC20 token standard. To learn more, refer What is BNB coin?

Binance is a quick and easy way to get into ALT coins if you already own some Cryptocurrencies. The word Altcoin is an abbreviation of “Bitcoin alternative,” and thus are referred to as Bitcoin alternatives.

Now let’s see how you can exchange your Bitcoin or Ethereum for Lesser Known ALTcoins and vice-versa.

How to create account on Binance?

1. Visit Binance’s Official website. Also bookmark this page as there are many phishing sites which are similar to the actual site.
2. Sign Up
a. Click “Register” button on the top right corner. How to use Binanace to buy/sell or trade altcoins?

b. Enter your email address, password (password should have 6 to 20 characters, and include upper and lower case letters and numbers), referral ID (if any) and agree its Terms, then click “Register”.

How to use Binanace to buy/sell or trade altcoins?

c. Go to your mailbox and verify your email. Also, check your spam folder if you do not receive the email. Click the verification link in the email to complete registration.

How to use Binanace to buy/sell or trade altcoins?

3. Google Authentication or SMS
a. Login to Binance’s website, and enter for account center, then click ‘enable’ in Google Authentication section.

How to use Binanace to buy/sell or trade altcoins?

b. Download and install the Google Authentication APP

How to use Binanace to buy/sell or trade altcoins?

c. Scan Barcode from the app or enter the code directly into the app if you are facing problem.

How to use Binanace to buy/sell or trade altcoins?

d. Note down your Key 16 digit number as this key will be used for restoring of Google Authentication in case of phone loss.

How to use Binanace to buy/sell or trade altcoins?

e. Enter 16 digit Key, login password, and 2FA code to activate google authentication and then Click “Enable Google Authentication”

How to use Binanace to buy/sell or trade altcoins?


How to deposit/withdraw coins?

Deposit

1. Login and click “Deposits and Withdrawals” on “Funds” Menu.

How to use Binanace to buy/sell or trade altcoins?


2. Select your deposit coin type, and click “Deposit”. You can deposit BTC, ETH, LTC, NEO and BNB here.

How to use Binanace to buy/sell or trade altcoins?


3. Click “Deposit” and you will be able to see your deposit address as shown below.

How to use Binanace to buy/sell or trade altcoins?


4. You can transfer your token to this address from your wallet and other exchange platforms.
5. Binance will confirm your deposit result automatically. You can see details at “Funds > History”.

How to use Binanace to buy/sell or trade altcoins?

Withdraw 

In order to withdraw your coins, you will need to generate an address using the wallet you intend to receive the coins.

1. At account center, in top menu area, select “Funds-->Deposits Withdrawals”, How to use Binanace to buy/sell or trade altcoins?


2. Select the target coin which you want to withdraw and click button “Withdrawal”. Below screen will be shown after clicking dropdown list of Withdrawal Address field. Click “use new address”. Enter Label (define any name for the target address), Address (address of the coin that you want to withdraw) and Amount in coins that you want to Withdraw. Click “Submit”.


How to use Binanace to buy/sell or trade altcoins?

3. 2FA authentication page will pop up. If you have enable Google Authentication, input 6 digital number then click ‘submit’; if you have enabled SMS Authentication, click send SMS and input the verification number received in your mobile phone. then click ‘submit’. Then an withdrawing confirmation email is sending to you.

4. You will receive an withdrawing confirmation email. Open your email and click “Confirm Withdraw” link to confirm your withdrawing action.

5. In top menu area, select Funds-->History to check the status of your withdrawing.


How to Trade on Binance?

1. Go to the official Binance website, click “Login” from the menu and enter your details to log in.

2. If you want to purchase ETH with BTC, choose BTC Market and input ETH in search box. Next, click on ETH/BTC pair which will redirect you to the transaction page.

How to use Binanace to buy/sell or trade altcoins?



3. Scroll down to “Buy ETH” section, enter the BTC price at which you want purchase and click “Buy ETH”.
*The “25%” below amount means to buy ETH with your 25% BTC balance( consider same explanation for other percentage)

How to use Binanace to buy/sell or trade altcoins?

Similarly, you can sell ETH or any other coin.
If you are thinking to purchase Bitcoin or any other cryptocurrency, I recommend to purchase it from Zebpay, Koinex or Unocoin as they are highly secured sites.
How to use Binance to buy/sell or trade altcoins? How to use Binance to buy/sell or trade altcoins? Reviewed by StalkOwl on January 18, 2018 Rating: 5

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