Introduction to the Binance Exchange
Today, we’re going to introduce the Binance Exchange.
Binance is the world’s largest cryptocurrency asset exchange, which was first launched in Hong Kong in 2017 and is currently the No. 1 trading volume.
You can also receive up to 20% off commission if you sign up with a referral code.
Please note that if you sign up as a member through the referral link below, you can get up to 20% off the fee.
Please refer to the membership registration method written below for the membership registration method.
How to sign up for Binance membership
Binance Referral Link Connection
Go to the Binance sign up site link
If you connect through the link, you will see the screen as shown in the image below.
Please press Sign up with Email or Phone on the screen.
Enter email and verify referral code
To move on, you must choose between an email and a phone number.
I will choose an email.
Please enter your email in Email/Phone Number.
Please enter the email and check if the code is entered in the Referral ID.
If the code is not entered, please enter [J24I6ZG2] directly.
Enter email authentication number
If you move on, the authentication number will arrive by e-mail.
Enter the sent 6-digit authentication number in the Email Verification Code.
If the mail hasn’t arrived, check your spam box,
If you wait for 60 seconds, click the Resend Code
You can get the authentication number again.
Set Password
Next, please enter your password in the Password column.
However, you must enter at least 8 characters including at least 1 uppercase letter, lowercase letter, and number.
If you enter your password, Binance membership will be completed.
KYC identity verification and OTP settings
KYC identity verification
Increase security with KYC identity verification.
Identification is essential for account security.
OTP settings
As it is a digital virtual currency exchange, security authentication is needed to protect accounts and assets from hacking.
Security authentication is an OTP setting, which can be set through the Google Authenticator app.
Getting Started Trading on Binance
Binance has three types of trading: spot trading, futures trading, and margin trading.
Spot trading
Spot trading is the most basic way of buying and selling coins, and you can make a profit when the coin rises.
futures trading
Futures trading is a trading method in which you bet on a position by predicting whether the coin market will rise or fall at some point in the future, and if you expect it to be right, you will earn profits and if you don’t, you will lose money.
There is also a system called leverage and liquidation, and leverage is typically a system in which users can set their own magnification and gain or lose as much as the set magnification.
And liquidation is the forced termination of a transaction when it continues to lose money.
margin trading
Margin trading is the same as normal spot trading, but it’s a trading method that allows you to use leverage features in futures trading.
Binance fee
There are a total of five types of fees in Binance cryptocurrency transactions: deposit, withdrawal, spot transaction, futures transaction, and margin transaction.
Deposit fe
The deposit fee is free.
Withdrawal fee
The withdrawal fee is 0.00057 BTC for Binance Bitcoin, and the fee varies from coin to coin.
Spot trading fee rate
The spot transaction fee is basically 0.1% both at market price and taker price.
futures trading fee rate
Futures trading fees are basically 0.04% market price and 0.02% taker price.
margin
The margin fee is 0.24%, and in the case of margin transactions, the term fee is not used and is called the interest rate.
In addition, each virtual currency has a different interest rate and you have to pay interest every hour.
Other Information
Binance’s security level is recognized as a trusted cryptocurrency exchange with account protection through a two-step authentication process.
Mobile apps also exist and are available on both iOS and Android platforms.
There are more than 250 cryptocurrencies available on the Binance Exchange.
The top five most commonly used cryptocurrencies in Binance are Bitcoin (BTC), ETH (Ethereum), TRX (TRON), XRP (Ripple), and USDT (Tether USD).
And Binance’s own Binance Coin.
Binance is actually available in countries around the world. However, countries subject to UN sanctions are excluded.
So that’s it for the Binance Exchange.
Generate revenue from a variety of products and events supported by Binance.