Crypto Academy Week 2 Homework (How to setup a trading account in a Cryptocurrency Exchange) Post for @besticofinder

in hive-108451 •  4 years ago  (edited)

Hello steemians, I hope u all are doing well.

In this post , I am here to submit my homework task which I have carried out as required by @besticofinder

Create a simple beginners guide for one of the following crypto currency exchange explaining how to complete Registering , Verification, Depositing funds ,Withdrawing funds etc. You can select one exchange from the following list :

Today, I’m going to teach you how to use Binance. Buying and selling cryptocurrency can be stressful, so it’s important to choose an exchange that you can trust. It’s also important to find an exchange that meets your needs, and isn’t too complicated to use. There’s nothing worse than opening an account on an exchange and then realizing you don’t know how it works!

If you’re thinking about opening an account with Binance, then read on.

How to Open an Account

Follow the simple instructions below and you’ll be trading in no time at all!

  1. Get registered: The first thing you need to know about how to use Binance is how to get registered! Go to the Binance homepage and click on Register.
    You’ll be redirected to the registration page where you’ll need to enter your email address and create a password.

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How to use Binance for Basic Trades

  1. Click on markets and tap on coin that you want to trade.
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Choose a trading pair. Binance lists hundreds of trading pairs. These are pairs of coins that Binance offers an exchange rate for. For example, Bitcoin can be traded with 143 different coins, so we say that Bitcoin has 143 trading pairs on Binance. In this example, our account is funded with Ethereum, so we are only able to trade with Ethereum.

Choose the amount you want to trade. Click on the Market if you are happy with the current market price and enter the amount of Ripple (or your chosen coin) you want to buy. You can enter this as an amount or as a percentage of the Ethereum in your account.
Now, the easy bit! Click on Buy XRP and that’s it. You’re now a Binance crypto trader

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Now you know how to use Binance to make trades, I need to tell you about Binance trading fees.

Trading Fees

Binance charges different withdrawal fees for different cryptocurrencies but they are all quite low. For example, if you withdraw Ethereum you’ll be charged 0.01 ETH and if you withdraw Ripple you’ll be charged 0.25 XRP.

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Binance trading fees are capped at 0.1% of each purchase or sale users make. This fee is reduced by 50% if traders use Binance Coin to pay them. So, that’s a final fee of just 0.05%!

Now you know how to use Binance to make Deposit funds.

Deposit Funds

Step 1: open Binance app and then click on wallet

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2: Click on the spot, then click on the coin you want to withdraw with.
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that's it

Now you know how to use Binance to make trades, I need to tell you about withdrawal

Now you have to click on withdrawal
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Now your funds will be withdrawn.

@besticofinder

thanks for reading

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