Binance Is The Largest Digital Currency Exchange In The World, And Every Day Millions Of Traders From All Over The World Buy And Sell Different Digital Currencies On This Platform, Or So-Called “Digital Currency.”Digital Currency Trading” They Do.

Binance is also the most popular among Iranian traders, and despite sanctions, thousands of Iranian traders still operate in the exchange.

This article is dedicated to Binance exchange training. In this guide, while briefly introducing Binance, we will first teach you how to create an account and establish its security, and then you will learn how to trade digital currencies in this exchange.

Introduction of Binance Exchange

Binance, in simple terms, is a global platform for buying and selling digital currencies that has millions of users around the world and sells more than 100 digital currencies. Creating an account on the Binance site is completely free and can be done in less than a few minutes.

The exchange opened in 2017, But it grew very fast and surpassed its powerful competitors. At the time of updating this article (mid-2021), the daily trading volume of Binance averages more than $ 18 billion, which means that the liquidity and the number of buyers and sellers in this exchange are extremely high.

Binance is reportedly headquartered in the Cayman Islands, But it also has other offices around the world.

Due to the very high volume of transactions, lack of bad records, popularity in social networks, and the existence of an insurance fund in case of hacking and security breaches, the credibility and security of this exchange are much higher than most digital currency exchanges.

The CEO of Binance is a Chinese-born man named Changpeng Zhao, better known in the digital currency community as CZ.

In addition to trading on the Binance website, the exchange has a special application for mobile and personal computers, making trading easier for users.

How does Binance work?

In simple terms, buyers and sellers gather in Binance and place an order to buy or sell, and the platform very quickly seals the deal between buyers and sellers and receives a commission for the transaction.

For example, when you place a purchase order, the binance system moves between the sales orders that match your order registered by other traders and completes your order.

So Binance itself does not sell bitcoin or any other digital currency but is an intermediary platform between buyers and sellers and charges a fee for each transaction.

This exchange usually tops up their account with Bitcoin or any other digital currency and then trades by converting it to another digital currency.

Most Iranian traders to buy in this exchange first buy from Iranian exchange sites, Bitcoin or Tetra, and then trade by transferring the purchased currencies to Binance.

Binance Exchange Fee

Binance exchange fees vary at different user levels. For example, people with a monthly trading volume of fewer than 50 bitcoins pay 0.1 percent of the transaction amount for each transaction.

Binance fees at different user levels

If your digital currency Binance Coin (BNB) transactions use the domestic digital currency Binance, commissions can be reduced by up to 25%.

Binance does not charge a fee for depositing and recharging the account, But withdrawals from this exchange have a fee that varies depending on the type of digital currency.

Read before registering in Binance!

Due to international sanctions against Iran, Iranian users of foreign exchange offices are always at risk of having their assets blocked. Binance is no exception to this rule because it operates internationally. In 2021 withIncreasing legislators’ pressure on BinanceThis risk is even greater than before.

If you trade in Binance or any other foreign exchange, always have the risk of blocking your account in mind.

As a real example, we can mention the Bittrex exchange, which in 2017 blocked hundreds of thousands of dollars of Iranian users’ assets, and after two years, with a lot of follow-ups, their users Released.

Although many Iranian users still use Binance, Binance itself has repeatedly indicated in official announcements that it is reluctant to host residents of countries under sanctions.

With this in mind, professional traders recommend that you pay attention to the following points before registering with Binance Exchange to reduce the risk of your account being blocked:

Iran IP never

Never enter an exchange with Iranian IP, and be sure to change your IP with software such as VPN.

Due to the laws of the United States, connect to a country other than the United States and try to use software and subscriptions that you can always keep your country stable. For example, if you have registered with Binance with the IP of the Netherlands, always enter an exchange office with the IP of the Netherlands and avoid the constant change of the country.

Professional traders recommend using a virtual server (VPS). Think of a virtual server as a computer located in a foreign country and always on, and you can access it remotely with a phone or computer and enter the Binance site through it. Many reputable companies, including Mihan WebSpecial virtual server for trading They, sell.

Do not enter Iran’s mobile number.

After registering in Binance, you will be asked to, for added security, Two-factor verification (2FA)Enable. By activating two-factor authentication, to log in to the account, in addition to entering a password, you must verify your identity through another factor.

There are two ways to do this:

• Enter a mobile number to send an SMS verification code each time you log in
• Use the Google Authenticator software and enter the code inside it each time you log in

It is recommended to use the second option so that there is no need to disclose the mobile number.

All of the above reduces the risk, But they do not reduce the risk to zero, and there is no guarantee that the account will not be blocked. If your Binance account is blocked, send a message in English to Binance Support (online chat) and request a withdrawal. Dozens of users have reported that they sent a message to Binance Support after their account was blocked and could withdraw their assets.

Learning to create an account in Binance Exchange

Follow the instructions below to create an account in Binance Exchange:

1. Enter the Binance website at Binance.com click on the “Register” button on the main page. If you wish, you can support this content through this introduction link register.

1. On the Binance registration page, fill out the registration form with the email and password of your choice.

Be sure to enter a valid email, as a confirmation link will send to you, and you will need this email later if there is a problem. Also, your chosen password must be more than 8 characters and contain numbers and English letters (uppercase and lowercase).

If someone has introduced you to Binance Exchange, you can enter their invitation code in the “Referral ID” section to benefit from your trading commission. Entering the invitation code will not affect your account, and Binance will pay the person’s income. However, this section is optional, and you can leave it blank.

After entering the email and password, check the confirmation rules and click on “Create account” to create your account.

1. Confirm your email.

After completing the registration form, you will see an email confirmation message. Go to your inbox, and in the email that sends to you, click on the confirmation link to activate your account.

1. Your account has been successfully activated.

After confirming the email, you will see a message stating that your account has been activated. You can now log in to your account by clicking the “Log In” button.

Enable two-factor authentication

After creating an account in Binance, you should now enable two-factor authentication for added security.

Two-factor authentication, or “2FA,” for short, is a way to log in to an account. The system makes sure that the person trying to log in is the user (and not, for example, a hacker); various factors require authentication.

These two factors are:

• What the system knows (like your password)
• Something that proves that you entered the password yourself and not someone else. The second factor could be a one-time password, separate from the password, or email verification or SMS verification.

As mentioned in Binance, both SMS and Google Authenticator software can use to enable two-factor authentication.

Due to sanctions and the risk of blocking the accounts of Iranian users in the exchange, it is better to use the second method, Google verification software, so that there is no need to enter the Iranian number.

To do this, after logging in, in the “Security” section, click on Enable Google Authentication. If you sign in for the first time, you will see a message activating two-factor authentication, which you can choose to verify with Google.

Select Google Authentication

Here are some simple steps to enable two-step login in Binance:

1. Install Google Authenticator software on your phone.

You must first install Google Authentication Software on your phone. This software is available on both Google Play for Android and AppStore for iOS.

Download Google Authenticator for Android

Download Google Authenticator for iOS

Click “Next” after installing the software.

2. Scan the QR code with Google software.

On the next page, you have to scan the QR code that the site shows you through the software or manually enter the code that the site gave you in the software and then click “Next.”

Scan the QR code on this page with software.

View from within Google Authenticator software

3. Save the backup key.

On the next page, the site gives you a backup key that if your Google software delete or you could not access your mobile for any reason, with that code, you can reactivate Google Authenticator software to access the Binance account.

Be sure to write down the support key in a safe place away from your mobile phone.

 

4. Enter your Binance account password and Google Authenticator code.

Finally, you will need to enter your Binance account password and the code displayed in the Google Authenticator software to enable this feature.

The final stage of activating two-factor authentication

After activating this feature, each time you log in to the account and the password, you must enter the display code in the software.

Binance Account Recharge Tutorial

To trade in Binance, you need to top up your account with a digital currency like Bitcoin or Tetra. It is also possible to top up the account in dollars and euros; But it requires an international bank/credit account, which is impossible for users living in Iran.

To top up your Binance account, you can buy it from an internal exchange site in Rials, Bitcoin, Atrium, Light Coin, Tetra, or any other digital currency, and then send it to the wallet that Binance has allocated for you.

Follow these steps to top up your Binance account:

1. Enter the Deposit section.

Log in to your Binance account and click on “Fiat and Spot” in the “Wallet” section and then click on “Deposit.”

2. Select the digital currency you want.

Select the digital currency you want in the Deposit section and copy the wallet address that Binance gives you. Then send the digital currencies to that address.

“Deposit” section in Binance Exchange

After sending digital currency to Binance wallet, you have to wait a few minutes for your transaction to be confirmed on the network. The amount will then add to your account, and you can start trading.

Trading training in Binance exchange

After creating an account, activating the two-step login, and recharging your account using a digital currency, now it is time to trade for the same digital currency transaction.

To trade in Binance, you must first refer to the digital currency market you want. For example, if you have Bitcoin and want to convert it to Ripple, you must enter the Bitcoin markets or “BTC Markets.”

1. Go to the section of the market.

On the Binance home page, go to the Markets section. Then select the market you want. Here we enter the Bitcoin or “BTC Markets” as an example.

Markets page in Binance exchange

According to the photo above:

1. Bitcoin Markets: In this market, it is possible to trade digital currencies with Bitcoin. This means you can give bitcoins and buy another digital currency or give another digital currency and receive bitcoins.
2. Binance Coin Markets: In this market, it is possible to trade digital currencies with Binance Coin (BNB). This means that you can give a binary coin and buy another digital currency or give another digital currency and receive a binary coin. The transactions of this market have a 25% discount on commissions.
3. Alt Coins Markets: It is possible to trade digital currencies with ethereum; there are Ripple and Theron. This means that you can give ethereum, Ripple, or Theron and buy another digital currency, or you can give another digital currency and receive ethereum, Ripple, or Theron.
4. Dollar Markets: It is possible to trade digital currencies with dollars or the same as stable coins in this market. Stable Coins
5. There are digital currencies whose prices are always fixed and can avoid the risk of price fluctuations. In these markets, you can trade digital currencies in dollars.

2. Enter the trading pair of your desired currency.

Suppose we want to buy Bitcoin in a Binance Ripple exchange. So we enter the bitcoin markets and click on the Ripple / Bitcoin (XRP / BTC) currency pair to enter the Ripple and Bitcoin trading page.

Select a currency pair in Binance Exchange

On the Ripple and Bitcoin trading page, we can use Ripple Bitcoin to buy or sell our Ripples in exchange for Bitcoin. In general, the trading page in Binance is as follows:

Binance Exchange Trading Page

1. The status of the pair in the past day. The photo above shows the price of Ripple compared to Bitcoin in the last 24 hours.
2. Shows the list of sales orders. The image above shows the list of Ripple sales orders for Bitcoin.
3. Shows the list of purchase orders. The image above shows a list of orders to buy Ripple for Bitcoin.
4. It shows the price chart that can use for analysis.
5. Here you can choose the type of order.
6. Purchase order form
7. Sales order form
8. It is possible to go to the page of other digital currency transactions in this section.
9. Transaction history is displayed in real-time in this section.

Types of trades in Binance

To get acquainted with trading more easily, you can generally trade in Binance in two ways:

• Fast trading
• Trade with the app

Fast trading in Binance

To quickly trade a digital currency in Binance, we need to “Market” the order type within the trading page and the buy and sell form. In this type of order, the exchange will automatically find the best price available to us, and the order will complete quickly.

For example, suppose we want to buy Ripple very quickly using Bitcoin. To do this, proceed from the Ripple purchase form section on the trading page.

Quick Shopping in Binance (1)

In the Ripple purchase section, we place the order type on “Market.”

Quick Shopping in Binance (2)

Now all you have to do is enter the amount you want to buy. By selecting any of the 25, 50, 75, and 100% options, you can determine how much of your assets will be allocated to the purchase. For example, if you select 100%, all your assets will convert into the digital currency you want.

The fast-selling process is the same.

Trade with the app in Binance

Buying and selling with the program means when you have done time analysis and want to buy digital currency at a certain price. For example, when the price reaches a certain point, the system will automatically register your order. To do this, you must set the order type to Limit or Stop-Limit.

Limit order

The order limit is a custom that you register at a specific price and complete when you reach the price you want. For example, suppose the current price of Ripple is $ 0.22, but according to your analysis, you predict that Ripple will fall and you want to buy it at $ 0.20, so you can place a limit order at $ 0.20 until The price has reached that point, your order will complete.

 

Order Stop Limit

When ordering a stop limit, you tell the system: “When the price reaches the number X, register an order with the number Y for me.” With this type of order, you can trade even when you are not present.

Traders use this type of order for stop-loss. For example, suppose the apple price is $ 0.2, which is Ripple’s main support. You can place an order so that if the price reaches $ 0.198 (Stop), the order will sell for you for 0.197 (Limit) to prevent further losses.

Another type of order for professional traders is  Order «OCO» It allows the trader to place two simultaneous orders, with each cancelation and the other canceled.

At first glance, trading in Binance may seem confusing; But with a few hours of work and a few trial trades, you will understand it well.

If you encounter any problems or questions while trading, you can go to the Q&A section of the digital exchange site (استکAsk your questions to professional users.

Fast conversion in Binance with a few clicks

Binance allows people unfamiliar with trading or who do not want to get involved in the ordering and similar processes to convert digital currencies quickly. With this feature, the user only needs to select the digital currency at his disposal and say what other digital currency he intends to convert into and by what amount.

By examining market orders, Binance selects the best price for the user and performs the conversion quickly. Of course, this feature is currently enabled for a small number of digital currencies.

To use this Binance feature, go to the “Convert” section from the “Trade” menu.

On the Convert page, select the digital currency you currently have in the first part and the digital currency you want to receive in the second part.

Convert bitcoins to ether

Then enter the value you want to convert in the first part and click “Preview Conversion” to show you the amount received.

Conversion check

The system then automatically tells you how much more you can exchange this amount of assets for. If the amount is confirmed, click the “Convert” button to convert.

Other sections of Binance

In addition to exchange services, there are several other services in Binance, the most important of which are:

• Margin Trading: Profitability to margin Trading In a Binance exchange, borrowing from various levers has a very high risk and is not recommended to novice traders.
• Futures: Ability to bet on the future price of digital currencies using futures contracts There is in Binance, which of course, as the margin, the risk is very high.
• Binance Lending: You can lend your assets to Binance and receive a fixed annual return.
• Participation in Staking: Proof of stock is a method of verifying blockchain transactions that do not require hardware equipment despite proof of work (extraction). Instead, individuals must purchase the digital currency they want to participate in and allocate it to the network. In this way, network transactions are verified, and some add to their digital currencies each year. In Binance, it is possible to participate in proving the stock of many digital currencies.

Conclusion

Binance is currently the largest exchange office in the world for trading digital currencies. This exchange volume of transactions reaches over 18 billion dollars per day, which shows its very high liquidity and credit.

Registration in a Binance exchange is free, and this exchange only charges a small fee for completing transactions.

Due to the sanctions against Iran, there is a risk of money blocks for Iranian users in this exchange, which can be reduced by the methods introduced in this article. However, as we said, the risk is not zero, and if you only want to make a long-term investment, it is better not to keep your assets in an exchange office and transfer them to a safe wallet.

Using binance may seem difficult at first, but after a few trades, you slowly master it.

Try to include a small amount in your initial trades to reduce the losses caused by a beginner.

Don’t forget that trading digital currencies are as risky as it can be. So be sure to use the right research, analysis, and logic in your dealings and avoid false emotions.

A few common questions about binance

Is it possible to make money from binance?

In addition to trading digital currencies and participating in stock proofs, you can earn money through the marketing link (Referral) and inviting your friends from the Binance exchange. You can get your ID code from your account and benefit from the trading commission of the people you have invited.

In which country is Binance located?

Binance Exchange has offices in many countries, including Japan, Singapore, and China, headquartered in the Cayman Islands. The founders of Binance are Chinese.

Is Binance usable for Iranian users?

Binance has stated in its terms that users of countries under sanctions, including Iran, do not have the right to use the services of this exchange. However, thousands of Iranian users continue to work on this site by changing their IP.

How secure is Binance Exchange?

Binance Exchange can consider one of the safest exchanges in the world today. This exchange hack once so far, but it has paid all its customers after hacking.