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Binance Full Review: What is Binance?
Binance is an Exchange which allows you to 10x Margin Trading in Cryptocurrency. Binance allows you to store both fiat currency and cryptocurrency in the respective wallet which is used for P2P trading means buying and selling from Person to Person. Binance was created by Chanpeng Zao, He was well known as CZ as CZ used to build trading system that are used in Tokyo stock exchange. He used that experience to create Binance today.
For Creating Binance Platform, he raised money through Initial Coin Offering(ICO), It is similar to crowdfunding where people invest their money to start the company. People invested about 15 million dollars in Binance as return Binance offered Binance Coin(BNB) as a token created on Ethereum blockchain, and now Binance has daily 1 billion $ daily trade volume. Binance offers 0.075% trading fee which is lowest in the market.
How to Create Binance Account?
Step 1: Click on Binance.com and Click on register, the registration page will appear like this, enter your email and type the password and click on Create Account.
|Binance Create Account|
Step 2: You will receive email confirmation code, now open a new tab and login to your Email account, type that 6 digit code in the Binance Account Verification page, After entering the code your account will be activated.
Step 3: Now three options appear as Deposit cash, Deposit crypto, or buy crypto with credit card.
-If you have any cryptocurrency then click on deposit and search that crypto coin, get deposit address of that coin and copy that address and paste in the wallet from which you are going to send bitcoin, type transfer amount, paste deposit address and click on transfer. It is very time consuming method so its better to go with buy crypto with credit/debit card.(if You have deposited crypto then go after step 8)
-So choose simple method to buy crypto with credit/debit card.
How to do Margin Trading on Binance?
–Learn Best Tricks to make Profit.
If a cryptocoin is at current price of 102$ and you need to purchase it at 100$ and sell when price again reach to 102$ in this way you earn 102-100=2 means 2% profit but 2% profit is not sufficient, now you can multiply it by 10x means 10 times as e.g. if you purchased 20 coins of 100$ with amount of 5000$ and sell at 102$ with 10x margin you get 2*10=20% profit meaning 5000*20/100=1000$ as profit with normal trading you get just 100$ on 5000$, so here I have given you full tutorial about margin trading.
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