How to earn cryptocurrency
Binance is a user-friendly and reliable cryptocurrency exchange that provides individuals and businesses a world-class experience to buy and sell cutting-edge cryptocurrencies. Launched in 2017, the platform has taken the crypto community by storm. For more than eight months, Binance has consistently ranked among the world’s busiest crypto exchanges on a daily trading volume of more than $1 billion.
1. What is Binance?
Binance is the world’s largest cryptocurrency exchange by trading volume. The exchange was launched by Changpeng Zhao in July of 2017 after raising $15 million in a Series A funding round.
Binance offers a wide range of cryptocurrency trading pairs and allows users to easily exchange their cryptocurrencies for others. So how is it that a company of such size manages to provide its users with such a seamless and honest experience? The answer lies in the 2 core principles and values of Binance: culture and community.
Binance has set itself apart from other crypto exchanges with its ethos and culture whereby people are treated equally regardless of their nationalities, backgrounds, gender, or financial situation. Binance assures its users that despite your position on controversial issues or your personal beliefs, you are free to express it on Binance and other cryptocurrency community platforms as long as your comments are fueled by respect and look towards consensus, rather than sparking incitement or indignation.
What do you think about Binance’s philosophy towards its users, and does it retain a reputation for fairness? Thanks for participating in my survey. Your responses will be anonymous and confidential.
2. How to get started on Binance
The most important thing to do is to open a Binance account. From there, you’ll be able to start trading. The most important thing to know when you’re getting started is that you should never leave any coins on an exchange. Once you buy your coins, move them into a personal wallet. This should apply to any crypto asset. For example, Bitcoin is a volatile asset. Buying, storing, and trading Bitcoin is risky.
That’s why we always advise clients to keep their crypto holdings in a wallet that is secured by multiple layers of security. The best way to do this is to have your application stored on a centralized service such as Gmail, QIWI, or iCloud. To get started investing in the crypto economy, start by creating a Basic Account balance.
This will allow you to buy and sell up to 100% of your holdings for up to two years and save 30% in commission fees. The main priority is to learn about cryptocurrency. Before you invest, you need to understand the major features and use cases of each specific cryptocurrency.
Investing is a long-term game and you’ll need to make long-term plans. Before you make a purchase, you need to check the following information. Dash is the top-performing coin according to the last analysis and it’s currently trading at $245 on Binance.
It is relatively undervalued but we don’t want to take it too seriously at the moment. You can read more about Dash and another cryptocurrency on our dedicated hub below. Now, let’s go into other popular crypto assets. Ethereum is an advanced crypto asset that will be the first cryptocurrency to reach $1,000 using the PoW consensus algorithm. It’s one of the most interesting assets and we recommend investing months in advance.
More information about Ethereum is available at our dedicated hub and our analysis is linked below. Vechain is another crypto asset that will be joining the top 10 list. Ripple is the champion of microservices and another advanced crypto asset.
3. How to fund your account on Binance
How to Fund Your Binance Account Benefits of Investing in Binance The Binance app has been providing users with affordable crypto buying opportunities since 2017. The app does not require any verification to buy or sell crypto and has instant liquidity on many popular crypto pairs. With a sizeable user base, the Binance app helps facilitate crypto transactions to convert easy gains into hard currency.
The Binance app helps you maintain a positive budget while investing in the crypto market. Here is how you can use the app to invest in the crypto market: You can start your investment journey with a single tap. A simple loan sign-up process unlocks additional features such as advanced funding options, easy limit orders, large and low deposit balances.
You can comment on order pages to give feedback to market makers and get insights on the current price movement. You can find an overview of day-to-day trends in the crypto market with the help of the Binance app. It helps you analyze and evaluate risks better.
From there, you can implement best practices into your crypto investments. Binance is known for its intuitive graphical user interface. It has support for Google Chrome, Safari, and Firefox browsers. You can buy and sell crypto through the app with zero commission fees. With a one-time fee, Binance charges a 0% trading fee on all deposit balances above $5,000. With a two-month fee, it charges a 1% fee on all deposit balances above $50,000. It adjusts this fee depending on the crypto market’s volatility.
Disclaimer: This article is for informational and entertainment purposes only. It should not be considered Financial or Legal Advice. Consult a financial professional before making any significant money decisions.
4. Trading on Binance for beginners
If you’re new to cryptocurrency trading, Binance is a good place to start. Due to its low fees (0.1%) and good customer service, it’s a popular option for beginners. Binance is a cryptocurrency exchange based in Malta, offering some of the lowest fees out there.
Compared to another successful exchange, Kraken, Binance is experiencing a higher traffic volume. This phenomenon, known as momentum, makes Binance more of a crypto retail platform — it doesn’t focus on technical prowess as many other exchanges do. Binance focuses on speed and high liquidity. It’s relatively easy to use Binance — just drop your funds in and trade within minutes.
With Kraken being the fifth-largest cryptocurrency exchange (by trade volume) and XFX being the ninth-largest, it’s hard to imagine that there is still room for alternative crypto exchanges. If you’re looking for a different crypto exchange to buy/sell and has more reliable and enjoyable customer support, Binance may be the one for you. Featured image from YouTube.
5. Best trading strategies for making money on Binance
There are many ways to make money on Binance, but here are three of the best. 1) Trading: If you’re a pro at trading, you can set up trades while you’re away from your computer and then check back to see if your trades have been successful when you get back.
You can also use advanced options and ratios to amplify your gains. 2) Investing: Discover what stocks are trending and invest directly in the companies that you believe will continue to thrive in the future. 3) Lending: For those looking for longer-term monetary stability, Binance may also be a great choice for you.
With its low transaction fees and fast funds settlement, Binance has revolutionized the cryptocurrency exchange industry. Before Binance became a disruptive force, there was little choice for investors looking to buy and sell the cryptocurrency markets.
Many higher fee trading platforms and centralized exchanges such as Robinhood, WEX and Charles Schwab (Charles Schwab & Company) have restricted purchases (or to a lesser extent, sales) of cryptocurrencies by large investors. During the same time, fee-based trading platforms such as E-Trade and Charles Schwab (Charles Schwab Bank) have increased the size of their commission to account fees. At times, these fees have even been higher than the cost of buying and selling cryptocurrencies themselves.
A few years ago, when there was still little choice for investors looking to buy and sell cryptocurrencies, Binance opened up. Though it is currently the second most popular cryptocurrency exchange after Coinbase, Binance has become a surprisingly large player in the past few months, especially in the U.S., as shown in the following charts.
Through November 2020, the exchange processes more than $100 billion in daily trade, which exceeds the combined value of all other crypto exchanges combined. Now, why is this the case? Binance offers a straightforward and user-friendly trade experience to traders, making it a boom or bust option for long-term traders. From daily buy and sell limits to service fees and trading limits, Binance has something for everyone.