Binance is an international multi-language cryptocurrency exchange. The service raised 15 million dollars in a July 2017 Initial Coin Offering for its ERC20 BNB token. CEO Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai; the company built high-frequency trading systems for brokers
Once you are on the page, it's very simple. Click on "Register" at the top right of the page or "Create an account" in the center.
Vous allez devoir entrer votre adresse E-mail et choisir un mot de passe. Un E-mail avec un lien de confirmation vous sera envoyé sur votre adresse.
You can enable additional security on your account by activating what is called 2FA (2-factor identification). You can activate 2FA on Binance with Google Authenticator (more info on Wikipedia).
If you do not want to do it for the moment, you can click on "Skip for now" and activate it later.
2 : Make your first deposit
Now that you're signed in, you can deposit Bitcoin, or another Cryptocurrency into your Binance account.
To do this, click on "Funds" at the top of the page, and choose "Deposits Withdrawals".
In this example, we will choose to deposit Bitcoin.
It will be necessary to click on the button "Deposit" to the right of the currency in question.
You can search your currency directly in the list or use the search tool located at the top left.
After clicking Deposit, you will see the deposit address on which you will be able to send change (here Bitcoin).
You have a different address for each Cryptocurrency, send only Bitcoin to your Bitcoin address etc ...
3 : Make your first buy / sell
Now that you have made a deposit on Binance, you can start trading.
Click on "Market" at the top left of your screen, then choose Basic or Advanced.
I advise using "Basic" unless you are familiar with trading.
The page may seem complex at first glance, but once you understand it is very easy.
We must first choose the market on which we will trade, top right (in red on the photo). You can trade currencies against Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) or Tether (USDT). In this example, we will choose BTC.
Just below, you can see the list of currencies that can be traded against the BTC. Click on the currency you want to buy or sell. There is also an option to search for the currency you want (in orange on the photo).
You can see the chosen currency at the top left (in green on the photo), as well as the current price next door.
In this example, we will buy Binance Coin (BNB) with Bitcoin (BTC).
You have 3 choices:
Limit: Choose your own price
Market: Directly buy at market price
Stop-Limit: Set a price for a buy / sell order in advance
If you choose "Limit", it will then fix its price, and then choose the amount you want to buy (or sell). With "Market", you just have to choose the amount.You will see below the total sum of the purchase / sale (here in BTC). As for the "Stop-Limit", we will approach it in the following image.
The Stop-Limit allows him to set a price from which one would be ready to buy.
The Stop box allows you to set a price, from which your order (Limit) is automatically passed.
The Limit box will be your buy / sell order, which will be posted as soon as the Stop price is reached.
Let's take an example :
I have 1 Binance Coin (BNB), whose price is 0.000400 BTC. Let's say I bought it at 0.000200 and thus doubled my investment. To make sure, I would like to sell it automatically if the price goes below 0.000350 BTC.
So I put in Stop 0.000350 and in Limit a slightly lower sum: 0.000345. In Amount, I enter the number of BNBs that I want to sell (here 1).
If the last price is equal or lower than 0.000350 BTC, my order of sale to 0.000345 BTC will be directly placed and could thus allow me to limit the breakage.
It is also possible to do the same for purchases.
While Binance is one of the newest cryptocurrency exchanges available on the market, it has quickly managed to attain a high level of trust from its users and the digital currency community. However, the exchange fails to provide users with enough information on how the funds are being secured, yet we like to believe that security is taken seriously. Two-factor authentication is available and is always a nice sight. It is however known that the platform offers a multi-tier and multi-tier system architecture.
The hackers tried to pull off an audacious move which was luckily caught by the automated systems in place at the exchange. For months the hackers had been accumulating people’s logins via a phishing website and secretly installing API access on the affected accounts. They then struck, converting all the victims altcoins to BTC and purchasing Viacoin, pumping the coin to a huge price and then selling their own supply of Viacoin at the high point, before trying to withdraw the BTC to their own wallets. Luckily no one lost funds as the hack was caught and the only people to lose out were the hackers, whose funds will be donated to charity.
As this hack was made possible by people entering their site logins and 2FA details into a fake website, you should always make sure you are on the correct Binance url before logging in. We recommend you bookmark the site and only use that to access it, never click links from emails, Twitter, Telegram etc.
This event has done a lot to instill confidence around Binance, not only did their automated processes catch the attempted hack before anyone lost any funds, they have since offered a $250,000 bounty to anyone who can help catch the hackers. Throughout this event, Binance acted exemplary and have been praised for their swift action in resolving this.
Binance is a cryptocurrency exchange, created by a former key member of OKCoin. While the company mostly focuses on the Chinese market, everybody is welcome. That being said, they do not accept fiat money deposits. The amount of coins available for trading is relatively high and still growing, but there are other exchanges offering the more exotic ones. The major issue we have with Binance is that the project hasn’t been around long enough to actually prove itself. Here are the pros and cons of this exchange:
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|