For cryptocurrency users, it is a bit difficult to find a secure trading platform. There is a lot of media to exchange digital currency, watch bitcoin trader video, but you have to choose that one which is fast and reliable. For cryptocurrency trading, Binance, no doubt a safe platform on which anyone can easily rely. It is the platform initiated by China, and now it has gained a lot of popularity due to its secure exchange services. For professional trade, exchanger Binance allows many tools and strategies to engage with digital assets markets. It is the simple and straight forward platform for exchanging cryptocurrencies.
What is Binance Exchange?
Binance is one of the top cryptocurrency exchange platforms founded in 2017 by Changpeng Zhao and Yi He. Its headquarter is located in Malta. According to Forbes, mostly individuals and companies stolen $1 billion bitcoins have been removed by Binance in the previous three years. For Binance, security is the priority for its users, although handling money is no easy task, except this, Binance is providing satisfactory services.
But one of the problems which Binance has to face to identify the stolen bitcoin by criminals. Binance has reported the hacking of 7000 bitcoins, which had a worth of $40 million. That’s why Binance has to face losses due to crimes. Crypto crimes were reported $4.5 billion worth in 2019. Binance has now introduced many strategies by which crimes and losses have been minimized.
Mostly hacked, which is attacked on Binance, is a “hot wallet,” storage connected to the internet for liquidity purposes so that any coin can be exchanged. According to Binance, a hot wallet consists of only two percent of bitcoins. Other bitcoins present in a cold wallet, which means these bitcoins are kept offline. More the bitcoins present in the hot wallet would decrease the number of hacking and crimes.
How Exchange Works?
For using Binance, it is compulsory to understand its usage carefully. For the first time, users who visit the Binance platform will see the two options for digital currency and trading, which are essential and advanced. It’s not easy to complete these levels. However, a person with a background in digital currency can meet and understand these processes effectively. The difference between primary and advanced is that advanced is much more updated and involves technical things.
The raw panel consists of different graphs and charts, which means trading books and trading history.
The primary view has:
The primary view is nicely arranged; any product you want to purchase is given with its price in the left area, the graph in the middle, and sale boxes are shown in the right corner.
For the Advanced level, the view looks like:
The advanced view has a dark mode in which sale boxes are present below, and trading prices are on the right corner. With basic and advanced levels, a user can easily differentiate and choose the trading way which is best for him. With login and signup, it will take your personal information for further procedure.
How to Trade on Binance?
Suppose you have used any other cryptocurrency before; it is straightforward to trade on Binance. For starting, you should have to deposit some funds in BTC, ETH, and BNP. If you have funds on the right top corner, “Exchange” options are given by clicking on advance or essential, the trading screen will appear.
On the right corner, select any cryptocurrency like BCH, ETH, and USDT in which you want trading. Choose any currency. You can also choose your desired cryptocurrency.
Once you have selected the currency, a price bar will appear, which shows the prices. Red highlighted prices shows which people want to sell, and in the bottom, green highlighted performances the fees which people want to buy. The middle area shows the latest prices.
Now, if you want to buy a buy box in green will show at the bottom, you can add the prices manually or by clicking on it. You can click on 25%, 50%, and 100%, which shows how much crypto currency you have and want to invest it.
Once your order has been placed, it will show “Open Orders.”
That’s how we can trade on Binance, which is the most reliable, secure, and most accessible platform for anyone.