Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume. Aug 29, · First, log on to the Binance website. The landing page typically includes various links relevant to traders such as trading pairs and other additional information such as news ongoing within the Binance community. To gain access to the platform and start trading, you must first create an account. Jun 20, · How to Place a Trade on Binance. You can trade with BTC (Bitcoin), ETH (Ethereum), USDT (Tether) or BNB (Binance Coin). The crypto pairs available will vary depending on which coin you use. Bitcoin trading pairs have the greatest variety (+). Ethereum and Binance Coin have a considerable number of altcoins paired against them as well.
How to trade btc on binanceHow to Trade on Binance: Step By Step Guide
In the picture below, you can see an example of an order that has been filled successfully. This position is worth 0. On the right side of the tab, the position can be closed with either a market order or limit order. While it may be hard to wrap your head around Bitcoin leverage trading at the start, this guide has hopefully made the process a bit easier to understand. Thanks to the user-friendly interface, trading Bitcoin with leverage on the Binance digital asset exchange is relatively simple.
Trade on Binance Futures. Of course, Binance is not the only cryptocurrency exchange that offers leveraged cryptocurrency trading. Create a Binance account First things first - you will need to open an account on the Binance cryptocurrency exchange. We recommend to start with a small amount until you get comfortable with the user interface.
Here, you can select the contract you want to trade. This slider goes from 1x to x. Higher leverage means higher potential profits, but also a higher chance of losses. Here, you can place an order. You can either go long you will profit if the price increases or short you will profit if the price falls. You can choose between market order, limit order, stop limit order and stop market order. Here, you can monitor the status of your position after your order is filled. Pay special attention to the Liq.
Price - if the price of Bitcoin reaches this level liquidation price , you will lose your entire position! Monitor your order In the picture below, you can see an example of an order that has been filled successfully. You can manually edit this number and select whatever you would like. Binance also gives you a quick, one-button option for placing limit orders. Also, there are arrows next to the order price which allows you to adjust your bid by one — not very effective in a fast-paced market.
Placing a market order is super easy. You have the option of dividing up your buy-in here too. The stop is the price where your limit order becomes active on the order book. The Limit is the price where your position will be sold. However, if the price recovers enough the position will liquidate at the Limit price regardless of how high it return. Note: You are only required to hold BNB in your account to have the discount automatically applied. You do not need to trade any BNB crypto pairs and there are no notable benefits of doing so.
So, your goal is to always have enough BNB to cover your trading fees. Using BNB will save you 0. Your account will automatically turn to whichever crypto you are holding when taking fees, at the rate of 0.
Reminder: The discount rate for using BNB will decrease year-over-year and after five years this promotion will no longer be active. Hover over the person icon in the right-hand side of the top menu bar. You will notice that the stated fee changes to 0. You should see the 0. As a low-fee cryptocurrency exchange, Binance gives altcoin day traders the chance to buy and sell cryptos many times a day.
This component is crucial for your ability to make worthwhile profits as a crypto day trader. Many people achieve great success, but it takes having a calculated approach. We recommend that you treat Binance as your home when trying to day trade cryptocurrencies. You can withdraw your coins, unlike when you buy at a CFD platform like eToro. Furthermore, the cost of buying and selling entering and exiting a position is so low that you can avoid getting stuck holding a losing play over closing costs.
Join serious cryptocurrency day traders on Binance. Sign Up To Binance. Need help getting your Binance account good to go? Our Binance guide tells you everything you need to know.