HomeBUSINESSWhat it is, how it works and how to trade cryptocurrencies

What it is, how it works and how to trade cryptocurrencies

know what it is Binance It could bring you closer to several investment options that have changed the lives of thousands of people around the world thanks to the negotiation of cryptocurrencies.

It is no secret to anyone that the diversification of income and investments is crucial to building wealth.

In this sense, you should research about the best applications, exchanges and investment platforms that currently exist in the market, and especially in the world of digital currencies

Why is everyone talking about Binance:

The only way you haven’t heard about this financial ecosystem is if you live under a rock (or almost :D).

Actually, most of the people linked to the world of investments know thathe is Binance, and even, they are already taking advantage of their full financial potential.

Therefore, if you wish invest in cryptocurrencies through a safe, friendly, and intuitive ecosystem, it is necessary for you to become familiar with Binance as soon as possible.

What is Binance and why should you know him?

if you want to knowsee whathe is Binanceor why it is so attractive and novel throughout the world, we invite you to continue reading. In simple terms, Binance is the principal exchange of cryptocurrencies on the planet, in terms of trade volume. (Click here to sign up for free on Binance)

Through its application, or platform, you can invest in different types of cryptocurrencies such as the ones we list below:

  • USDT
  • Bitcoin
  • ICD
  • BNB
  • ether
  • BUSD

Although it is important to mention that it allows you to access a great Investment portfolioas it supports the trading of more than 350 digital assets.

Link: Click here to create your Binance account

Likewise, it allows you to trade without problems, in real time and from the same ecosystem, which is versatile, modern and practical.

The vision of this cryptoactive environment is to increase the freedom of money on a global scale.

Since it was launched on the market, it has been in charge of perfecting its infrastructure, since its mission is to become the main service provider in the blockchain ecosystem (blockchain).

Without a doubt, if you are interested in investments in cryptocurrencies, and you want to democratize your operations in this sense, it is imperative that you know what it is Binance and why it could bring you closer to your financial prosperity.

How does it work Binance?

how to use binanceknow what it is Binance is not sufficient. The most important thing is to understand how it works.

That way you could determine if their services are capable of meeting your needs and become a successful investor.

Next we will share, step by step, how the largest works exchange of cryptocurrencies in the world:

1. Register an account

You can do it online, from the mobile application of Binance, or from your desktop app (click to start).

2. Complete identity verification

You must upload a photograph of your personal identification, take a selfies from the platform or app itself and follow some basic instructions.

3. Deposit your cryptocurrencies

In case you have cryptocurrencies in another wallet or virtual wallet, you can deposit them in the Binance to trade, and even, to obtain profits or passive income through the services of “Binance Earn”.

To perform this step successfully you must locate the deposit address of your wallet Binance. So you should do the following:

  • Access the “Wallet” option
  • Click on “Summary”
  • Enter in “Deposit”
  • Choose “Deposit crypto”
  • Choose the currency you want to deposit, as well as the network you will use.
  • Copy and paste the address of the wallet from where you are making the withdrawal, and then complete the transfer to your wallet of Binance.

4. Make the purchase of cryptocurrencies

Once you understand what isyes Binance is very you will probably be excited about the idea of ​​using this exchange to buy cryptocurrencies from wherever you are.

In that case you need to know how to carry out these transactions, and above all, be clear that they have no cost under the model Peer to Peer, o Person to Person (P2P).

To access the services of Binance P2P you need to verify your identity, set up text message authentication, and add your payment methods.

So when you have completed the three steps above you will be ready to place your trades in a matter of seconds. To make purchases you need:

  • Access the “Buy with cash” option. (It is available on the home page of the app).
  • Click “Buy” on the P2P page.
  • Go to the filter icon that is shown in the upper right part and choose the payment method, as well as the currency that interests you.
  • Choose the cryptocurrency you want to buy.
  • Select the offer that interests you the most.
  • Select “Buy” and then enter the amount you need to buy.
  • Choose the payment method.
  • Choose “Buy”.

5. Sell cryptocurrency

This is the procedure to follow to sell cryptocurrencies through Binance P2P:

  • Go to “Wallets” and choose “P2P”.
  • Select “Transfer”.
  • Choose your local currency.
  • Click “sell”.
  • Choose a cryptocurrency.
  • Select an ad.
  • Press “Sell”.
  • Define the quantity to sell.
  • Choose the payment method and select “Sell USDT”.

Main features of this exchange

Now that you know what it is BinanEC We will share its main features:

1. P2P transactions are free of charge.

2. It allows you to trade in real time.

3. Its interface is friendly and easy to use.

4. It allows you to increase your profits through its system of leverage.

5. It offers access to a wide range of crypto-derivative products.

6. Through Binance you can make instant payments to third parties.

7. Binance Earn offers you exclusive solutions for your investments.

8. You can invest in NFTs.

9. It allows you to request loans instantly that are guaranteed by crypto assets.

10. Facilitates trading.

11. Enables P2P trading with more than 100 assets.

12. It allows you to buy or sell cryptocurrencies from a trusted ecosystem.

Link: Click here to create your Binance account

Regulations of this virtual currency platform

how is binance regulatedEven though this exchange has operated without licenses from regulators, and without centralized offices since 2017, this company recently decided to do a 180 degree turn.

Indeed, the pressure exerted by the regulators of several countries, including Chile, Italy and the United Kingdom, have motivated this exchange to respect some regulatory compliances.

Consequently, some of its new objectives consist of preventing money laundering worldwide, as well as ensuring that “taxes are paid where they are due.”

recommended books

According to a media publication fortuneEast exchange has already established alliances with some regulatory financial services firms, such as CM Equity, in Germany.

The CEO of Binance, Changpeng Zhao, He expressed that with these measures they seek to “have clear records of the property of the interested parties.”

He also said that they need to deal with “transparency and risk controls of operations” that are carried out through this exchange.

In addition, it is important to note that any investment of money involves risk, and investors should ensure that they exercise caution and strategy so as not to unnecessarily overexpose themselves.

Take advantage of the benefits of Binance

At this point you should already be more clear thatwhat is it Binance. Therefore, you could feel a greater interest in its operation, advantages and benefits.

However, make sure you understand this very well. exchange before trading, or making the purchase and sale of cryptocurrencies.

In the same way, you can ask for specialized advice on its use, risks and operation so that you can make better investment decisions.

Finally, remember that this exchange is not yet regulated and that the technology blockchain It is totally decentralized, so you must invest with strategy and intelligence.

Continue reading: The 50 best apps to earn money in 2022

[mailpoet_form id=”5″]

Must Read