Beginner’s Guide: How to use STEEM to buy cryptocurrency on Binance?

in steem •  7 years ago  (edited)

Binance.png
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Binance is a rapidly growing exchange for trading cryptocurrency and it listed STEEM around two weeks ago. This article is written for the newbies to teach them how to start trading on Binance using the STEEM they earned on Steemit.

Step 1: Log in to your Binance account


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Of course, the first thing to do is to log in to your own Binance account. If you still do not have a Binance account, you can sign up for a new Binance account here.

Step 2: Find out your STEEM deposit address and memo

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Click “Deposits” under “Funds” Menu item, and it will open up the following page:

deposit.png

Select STEEM as the deposits coin. Your STEEM deposit address and MEMO will show up after clicking “I understand. Continue”. Remember it’s necessary to include your MEMO when you send your STEEM to Binance. Please note that Binance’s STEEM address is @deepcrypto8, but not @binance.

Step 3: Transfer your STEEM to the deposit address with the required memo

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Since SBD is not available for trading in Binance, you will need to buy STEEM with your SBD from the internal market on Steemit, in case you don't have any STEEM. However, I do not recommend you to power down any Steem Power because keeping Steem Power is a wise investment choice.

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Simply transfer the STEEM to the your Binance deposit address with the required MEMO.

Step 4: Sell your STEEM to obtain Bitcoin

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Your STEEM almost arrives IMMEDIATELY after you send your STEEM to Binance. Now look for “STEEM/BTC” under “BTC Markets” on Binance.

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After entering the price and amount, place an order to sell your STEEM and get Bitcoin.

Step 5: Shopping Time!!!

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Some examples of coins with huge potential

Now you have your own Bitcoin, and you can buy any coins you like from the markets under “BTC Markets”.

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Source

There is currently a 70% discount on trading fees on Binance till Feb 24.

There are a lot of potential coins on Binance, start your cryptocurrency trading journey and enjoy it. :) If you don’t know which cryptocurrency to buy, you can read my blogs. I always blog about different cryptocurrency. Although they are only available in Chinese language, you can still make use of Google Translate to get a rough idea. LOL Thanks for reading.

steem binance busy newbies guide
7 years ago by

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    • [-]
      ·  7 years ago 

    Thanks for the tutorial.

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    [-]
      ·  7 years ago 

    Damn. good info. This was what I could not find before and I ended going through blocktrades to go there but then again I was transferring SBD which they still don't have. Still good to know.

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    [-]
      ·  7 years ago 

    Haha thank you! Happy to know that it helps. The gif is so cute!

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    [-]
      ·  7 years ago 

    You're welcome. I did that long time back and have not use it for a while

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      [-]
        ·  7 years ago 

      Thank you so much for guiding us the newbies. I have one confusion and that is the Binance exchange had stopped registering new people I have heard. HOw to deal with this sir?

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      [-]
        ·  7 years ago (edited)

      Binance reopens user registration and only a limited number of new registrations will be allowed each day. Registration open time will vary from day to day, as stated on their website previously.

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      [-]
        ·  7 years ago 

      Thank you so much for guiding us. Stay blessed.

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        [-]
          ·  7 years ago 

        Thanks @htliao for informationa, i registered now on binance due to your guide lines and updates about it.

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        [-]
          ·  7 years ago 

        Thanks~

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        [-]
          ·  7 years ago 

        币安干嘛不注册一个币安的账号啊，像bittrex一样。。。搞得我还以为这个deepcrypto8账号是假的。。。

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        [-]
          ·  7 years ago 

        應該是搶先被人註冊了吧，我看到有一個叫 @binance-hot的

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        [-]
          ·  7 years ago 

        Didn't realize Binance accept steem deposit, sweet!

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        [-]
          ·  7 years ago 

        You are welcome~

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        [-]
          ·  7 years ago 

        that is very a well detailed explanation, thank you for sharing

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          [-]
            ·  7 years ago 

          cardano.jpg

          Cardano is a good coin and can bring good profit!! Guide how to buy Cardano on Binance

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            [-]
              ·  7 years ago 

            thanks for your information

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              [-]
                ·  7 years ago 

              As a follower of @followforupvotes this post has been randomly selected and upvoted! Enjoy your upvote and have a great day!

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                [-]
                  ·  7 years ago 

                I did not know that the Steem was available in binance: or thank you very much!

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                  [-]
                    ·  7 years ago 

                  @htliao It's a detailed and well explained Binance tutorial. Actually, it will be even better, if you can include Chinese for this tutorial bro :)

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                    [-]
                      ·  7 years ago 

                    想要个中文版

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                      [-]
                        ·  7 years ago 

                      Thanks for sharing information

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                        [-]
                          ·  7 years ago 

                        Thank you very much @htliao. I am the beginner in the cryptocurrency market. I actually started to study more information about cryptocurrency after I have attended your presentation previously held in Kerry Hotel in January. Thank you.

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                          [-]
                            ·  7 years ago 

                          Thanks for sharing information

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                            [-]
                              ·  7 years ago 

                            Your information is very helpful to me. thank you

                            Vote me

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