Binance is the biggest Cryptocurrency Exchange Platform, and still the number one and leading Crypto Exchange. In Binance, you can now, buy, sell and trade cryptocurrencies. With over 500 trading pairs including Cryptocurrency vs Fiat, Cryptocurrency vs Cryptocurrency, and Cryptocurrency to Stablecoin.
Skipping from formal details and how Binance started, let’s talk about certain features for everyone who are still not using Binance for Exchange.
Why you Should use Binance?
There are numerous features that anyone should know about Binance, wether your still learning crypto, earning crypto, or investing in crypto. Binance is a well-known trading platform, where you can exchange and swap your crypto to different Cryptocurrencies, and where your potential altcoin may increase its value vs Bitcoin or from the Fiat Currency.
- Spot Trade- The old school trading of Binance, where you can normally trade pairs without leverage. It has the most number of pairs that you can trade in Binance. From Fiat Pairs, Altcoins Pairs, BTC Pairs, and Stablecoin pairs. This is the less risky trade you will find.
- Future Trades- You can trade in Binance, where you can leverage your trade to 125x!. Ulike Spot Trade where you can only benefit the trade when your traded pairs are on bullish. In Futures, you can trade both sideways, either you want to sell, or on buy option. Trading in Futures is very risky, but could be very profitable. Depends on how you handle your risk management.
You’re not into Trading?
Yes, trading is very risky, and to be honest, I am not into trading as well. Trading needs a lot of learning and studies to earn. In Binance, you can now save your Cryptocurrency by adding them to 2 savings option:
- FIexible Savings- Where you can earn interests, by depositing supported Cryptocurrencies on Binance. The good thing about the flexible deposits is, you can eventually take them from the savings anytime you want.
- Locked Savings- Similar to Flexible Savings, but your savings has a locked time period depends on the choices provided when you deposit to Locked savings. Usually, locked in period are 7 days, 14 days, 30 days and 90 days grace period.
By only holding a fund in your Binance, you will be eligible to receive interests to a specific coin you hold. To learn more about staking, please visit the Binance academy for more in-depth information.
The longer you hold the coins, the more you will benefit from staking. You can still swap, trade your staked coins.
How to Deposit in Binance?
Before you deposit in Binance, you must Create an Account First:
1. Deposit Directly to Wallet Address
If you already holding Cryptocurrency in your own wallet, you can directly transfer to Binance by generating the Address of your Binance Account. Just go to the Deposit options in your Binance account, and Copy the Deposit Address Generated by Binance. Please See Image Below:
2. Deposit Via Fiat Currency
Binance supports 9 Fiat Currency that you are able to use to fund your Binance Account. Binance supported Fiat currencies are: HKD (Hong Kong Dollar), EUR (Euro), GBP (Pound Sterling), KZT (Kazakhstani Tenge), NGN (Nigerian Naira), RUB (Russian Ruble), TRY (Turkish Lira), UAH (Ukraine Hryvnia), and ZAR (South African Rand).
By Selecting your preferred currency, follow their deposit instruction. If your currency is not in the list, you can still Deposit via VISA.
3. VISA CARD
You can also fund your Binance Account by buying Crypto using your VISA Card. A minimum of 10$ to spent to buy Crypto in Binance. Available Crypto to buy in this options are: BTC (Bitcoin), ETH (Ethereum), BNB, BUSD (Binance USD), XRP (Ripple), BAT (Basic Attention Token), and USDT.
When you buy Crypto using your VISA in Binance, you will get a 3% Cashback for every purchase you made.
4. Third Party Payment
You can also buy from third party exchange, using VISA as primary option.
List of Binance Third Party Payment
What do you Think About Binance?
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