At this time, the digital currency exchange market is filled with a wide variety of choices, therefore choosing the right exchange or trading platform can be quite a headache for both novice and veteran cryptocurrency users.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
The Basic view is nicely designed and well laid out, all the information you need is clearly presented with prices on the left, graphs in the center along with the buy and sell boxes and the trade history is presented on the right so you can quickly see what the latest trade prices were.
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To use the exchange, users will first have to create an account. The process behind this is fairly simple and straight-forward and you don’t have to verify your account for level 1 which is a 2BTC daily withdrawal limit.
WELCOME TO BINANCE
Now, that this is out of the way, users can go ahead and fund their Binance account. While you can choose from a multitude of digital currencies, it is recommended that you stick with either BTC or ETH.
To fund your account visit the “Funds” > “Deposits / Withdrawals” link at the top of the site and find the currency you wish to send, then click the “Deposit” button next to it which will then you give you the wallet address.
You can then send your funds to this address to begin trading on the platform, depending on which currency you deposit it will take different times to show up as this is reliant on that currencies blockchain.
Some currencies like Ethereum are faster than Bitcoin which can take a while.
Now that your account is funded, you can simply start trading, exchanging and investing in various digital currency pairs. Binance offers plenty of choices, as they support all major digital currencies, but also numerous ICO listings and their respective tokens.
At this time, the platform can only be used to generate limit and market orders. This has been considered a disadvantage by some, as many expected trading options that would be more advanced.
Following the placement of your order, simply wait for it to be fulfilled according to the terms that have been set.
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