Without a pep talk, we’ll take your hand and accompany you step-by-step from the first base to intermediate level in terms of trading on Binance. When you squirrel a whole scenario in your head, you’ll be ready to act independently without a fear of burning a hole in your pocket!

In our guide, you will learn:

• Key points about Binance
• How to create and protect account
• How to buy & sell crypto
• How to deposit & withdraw fiat
• How to deposit & withdraw crypto
• Trading basics on Binance
• How to make the most of Binance

Upon reading this guide, you’ll make the first steps to trading and will be able to get your first earnings on Binance just today! If not now, when? Ask yourself this question as many times as necessary to come on the right path. Whatsoever, we’ve prepared for you an incredibly useful, engaging and reader-friendly trading guide! This guide will open for you a plethora of opportunities to earn on Binance: all ins and outs, for and against will be uncovered . So, let’s nail it off together!

In brief, whether you’re a seasoned trader or just about to start, you’ll find a lot of convenience and enjoy state-of-the-art technology on Binance Crypto Exchange. Either you aim at active trading or strive to receive passive income in a more conservative and cautious manner – you will have a chance. In terms of safety, Binance got a win in a number of ways, let alone numerous authentication levels to secure transactions and get protected against hacking. Binance is considered a secure, market-proven, and reputable exchange platform.

This is not a goldmine but let’s face up the facts. Today’s reality pushes us to seek for some other ways to earn besides nine-to-five jobs or other time-consuming and effort-demanding business. Once you master trading on Binance, you’ll feel like you’ve broken the new ground and made the real grade.

To create an account, go to Binance.com and click Register. At this stage, you will have to enter your email address, create a password, pass Security Verification to prove that you’re not a robot, and confirm your email address to complete the registration. Once you have accomplished all these steps, you’ll be automatically redirected to the Welcome Page. Congratulations! Now, you’ve got an account!

Almost ready to start trading, ah? Not to be on shaky ground, let’s make your account safer. Here, we’ll get around in the Security section.

What offers Binance is that you enable Two-factor Authentication (2FA) using a mobile or Google Verification. What does it mean? Alongside with the password, you enter each time when logging into your Binance account, you’ll have to type a code sent to your mobile as a text message or popped up in the Google Authenticator app.

To enhance protection, you can also enable a Security Key (e.g. Yubie) which is a USB device that gives you access to your Binance account only when plugged into your computer.

Ani-phishing code will protect you from scamming or fake emails. Once you have set up this code, it will be included in all official and verified emails so that you know it's not from somebody who's trying to steal your data. Whatsoever, make sure to remember this code.

The final step to make all systems work - Identity Verification. If you’re willing to buy crypto with fiat currencies, you’ll have to undergo this procedure. If you’ve already held crypto and just want to trade it over on Binance - no need to verify your identity. Advanced verification will come in handy if you want to increase the fiat transactions limit.

For more details on your account safety and security, check out Binance Security Tips.

What to start with if you don’t own any crypto? Right! Just buy it. The easiest way to do it is to buy with a credit card.

To begin, make sure you have passed Identity Verification, otherwise, you won’t be able to buy any cryptocurrencies using your debit or credit card! So, go to the top navigation bar, click Buy Crypto, and then Credit/Debit Card in the dropdown list.

As you’ve just started, you might need to add your card into the system, so click Add new card and provide your card details. Keep in mind that you can use only your own credit cards!

After you have added your card, check all the details and confirm your order in 1 minute. The fact is that after 1 minute, the current crypto price may change, so the final price will be recounted. Next, follow the instructions to verify the payment.

Though being the simplest this method is the most expensive one as the fees are high as sky. The cheaper option over buying with credit/debit card will be Bank Deposit which you will find in the same place of the top navigation bar. There, you’ll be able to deposit crypto as well as fiat say that via SWIFT and with zero fees. But we’re here not to boil the ocean, we are mastering basics, so as you're picking up the steam, you will later on decide what works best for you.

If you go to Buy Crypto, then - Credit/Debit Card, you’ll be redirected to the same page where you actually buy Crypto. Here in the top right corner, you’ll see the Sell button, so click it.

Next, choose crypto and the amount you are going to sell. Then, select the currency you want to receive your crypto in. After you have entered the amount to sell, you will see the final sum of money you will get that is calculated according to the current market price.

The same you can find in the Markets section in the top navigation bar. Here, you can check out different crypto pairs trading right now and how their prices have changed in percentage.

The Markets section features the more advanced way to buy and sell crypto. That one we’ll uncover in a few chapters later when you sink your teeth into the trading panel. For now, hold your horses and keep reading!

If you want to deposit fiat from your bank account or via credit/debit card, make sure you have passed the Identity Verification on Binance. Otherwise, you’ll be asked to do that.

Head over to Wallet, then - Overview, and in the top left corner, click Deposit.

You’ll be offered to deposit fiat or deposit crypto, for now, choose Deposit Fiat. On the next page, select currency and payment method. Enter the deposit amount, provide your card details and place an order. Finally, the required amount will come to your balance. That’s it!

Go to Wallet, then – Overview. In the top left corner, click Withdraw, and then - Withdraw Fiat.

There are also such options as buying crypto via the P2P (Peer-to-Peer) method which allows you to buy crypto from other users directly.

If you already hold some crypto on another platform and want to add it up to your Binance Wallet, you need to know your Binance deposit address.

Go to Wallet, click Overview, and then – Deposit.

Check out all the supported networks on Binance. For instance, BEP20 refers to the Binance Smart Chain (BSC), and so on. You can’t transfer your funds through an unsupported network. Say that, if you withdraw USDT from Ethereum blockchain to deposit it onto Binance, you should select the ERC20 deposit network.

Next, copy your Binance Wallet’s deposit address and paste it to the corresponding address section on the platform you want to withdraw funds from.

Finally, confirm the withdrawal request. Done!

You can check out all the transaction details in the transaction history at the bottom of the Wallet Overview page.

On the Wallet Overview page, you can opt for Withdraw as well. Instead of Deposit, select Withdraw and then choose the cryptocurrency you want to withdraw. Next, select the network.

For instance, you withdraw BNB, so BEP2 (Binance Chain) or BEP20 (Binance Smart Chain) networks are just what you need. Then, you may type in the recipient address or select one from your address book. After you enter the withdrawal amount, you will see the transaction fee and the final amount. Confirm the transaction by following the instructions displayed on the screen. You can copy the address from your external crypto wallet and paste it on the Binance Withdrawal page. Finally, submit your order; if everything’s correct, you’ll see your outgoing withdrawals in the Transaction history.

You can also add a new recipient address.

Next, select the coin and network, enter a wallet label, the address, and MEMO.

We can’t stop but ring the bell that all the information you provide to make a transfer must be accurate. Otherwise, you will lose your assets for good.

Well, you’ve got fiat and crypto on your account! Even if you haven’t bought any crypto or deposited any fiat yet, you know how to do it! Now it’s just the time to delve into the basic trading functionality!

Taking the path of least resistance, opt for the Convert trading function. Catching from the name, this function allows you to convert. Here, you can basically swap cryptocurrencies at the current price just in one go.

As you have already logged into your account, click Trade from the top menu bar and choose Convert. Simple as ABC, select the crypto you want to convert and the amount you want to swap. You will be able to preview the final conversion amount. To proceed, click Convert.

To trade in a more flexible manner, open the Classic panel.

You may hold your breath asking “Cheese and rice, what on Earth is that blimey stuff?” Take it easy, it’s not as intricate as it might look at first sight. Hold on! In a few minutes you will exhale and relax – just keep going!

Whereas Classic features a more sophisticated user interface, it is a real give and take between amateur and professional trading. Here you can place advanced order types rather than just convert at market price.

Alright! Let’s get the snow on the road and decompose this trading desk into sections.

All the trading pairs available on Binance are displayed on the top right of the screen. This section is called Market and Trading pairs. As an example, type in ETH in the search bar, and you’ll see all the trading pairs available - ETH/BTC, ETH/USDT, and so on.

Always use tickers for searching cryptocurrencies. Ticker is an abbreviation (3 or 4 letters) that indicates a cryptocurrency. To find a ticker for a crypto, hop on Coinrate.com. In the right top corner, type in a cryptocurrency in its full name in the search bar, and the relevant ticker will appear in the search results in the first place.

On the left part of the panel, you’ll see the three columns. It’s called Order Book and it consists of Sell Order Book and Buy Order Book. Red numbers show orders to sell a certain crypto, green ones – orders to buy. All orders are accomplished at different prices.

The left-handed column of Order Book shows the price that people place buy or sell orders at. In the middle column, you’ll see the amount of crypto available at a certain price point. The right column displays the available dollar-value.

Why do you need Order Book?

To cue you in, Order Book is a highly useful instrument. By checking out Order Book, you’ll be capable of making wise and competent trading decisions. Order Book helps to find out imbalances in buy and sell orders, and determine the direction of cryptocurrencies in the short term.

Say that, you can pinpoint potential support and resistance levels of cryptocurrencies if there’s been an extensive imbalance of buying orders versus selling orders. A bunch of buying orders at approximately similar price might indicate a support level, whereas an overflow of orders to sell may imply a level of resistance.

As you’ve decided to place an order, you need to determine the best price point for that. Here comes Trading Chart and its tools.

Use Time Graph which is in the top right corner of the trading chart to adjust the latter according to certain time periods.

Trading Chart has different modes: Original, TradingView (or Candlestick Chart), and Market Depth. If you click on TradingView, you’ll bring up all the charting tools required to perform technical analysis.

Alright then! Once you chose cryptocurrency, checked out Order Book, analyzed Trading Chart, you’re now ready to trade your assets! Go over to the Place Orders Section, a part of the interface where all important actions are taken on.

Scroll down your eyes to the bottom line of the chart where you can see Limit, Market, and Stop-Limit. These are all the options to trade your assets. By default, the order menu is set to Limit Orders.

We use Limit Orders to buy crypto at a desired price. Imagine that you want to buy Cardano (ADA) for $2 instead of $2.62. So, you place a limit order and enter the price at which you’ll be a happy buyer, choose the amount of ADA you want to buy, hit Buy ADA, and that’s it! Your order is added to Order Book! Having a limit order placed, you can sleep, make dinner, go shopping – whatever you’re up to. When the ADA price falls till the point indicated in your order, the order will automatically trigger and you’ll get ADA at the desired price point. Useful, isn’t it?

On the sell-side, limit orders work on the same scheme.You can set a limit for ADA, for example – $3, and make a sell-order. This order will wait until the price point is hit. Keep in mind that limit orders are cancelable and you can also set up a limit time for each order.

Market Orders is the easiest way to trade. Why? You buy and sell at the market price. Basically, what you have to decide on is just the amount of crypto to buy or sell, anyway the price is defined according to the market. Market Orders appear faster and easier though with higher fees. Actually, if you are a long-term player, higher fees and market price almost don’t matter.

Stop-limit order works the following way: once a certain price level is hit, a limit order is sent.

OCO stands for “One Cancels Other” and this is a more advanced order type which seasoned traders often use to mitigate risks and enter the market at the most profitable price point. Basically, OCO consists of a stop order and a limit order. When the stop or limit price point is hit and one of two orders is done, the other one gets automatically canceled.

Let’s clarify one issue concerning Spot Trading. In the same section where we’re now, above Limit, Market, and Stop-Limit options, you can notice Spot, Margin, and 10x. What do they mean? First and foremost, choose Spot since you’re a beginner. Margin and 10x are highly risky trading options. We bet you don't want to get wrecked at the very start, so for now, let’s deal with spot trading only.

Spot trading is when you trade your assets in real-time: transactions are made right away between traders or “on the spot” when an order is accomplished. Here, you don’t borrow any funds, you trade yours and only yours – those available on your balance.

Anyway, let’s tip you off on some of the trading issues related to Margin and Futures.

We’ve come a long way covering trading features on Binance. We don’t strive to whet your appetite but that was just a slice of big cake Binance offers to its users. How else to earn on Binance? Besides trading, there are many more investment solutions on Binance. Hold your horses because this chapter hits the target! Wheels up!

Presently, Binance offers 2 types of earnings – Guaranteed and High Yield. For sure, high yield products come along with high risks. Make sure to invest within reason – invest only what you can afford to, no matter how enticing a financial product can look and how big potential gains can be.

For newbies, investing in guaranteed products can be a good start and practice. Though the yields are moderate, you will get back your funds after the locking period.

Guaranteed products consist of Flexible Savings and Fixed Savings: you deposit your crypto and get daily interest from it.

You can opt for Flexible Savings and be able to get your crypto back at any time. Depositing your funds on fixed terms for a certain time period will give you a slightly higher interest rate. In fact, if you withdraw your funds ahead of time from Fixed Savings, you will lose the gained interest.

Launchpool is a high yield product related to farming new assets. In a nutshell, you stake your crypto in some DeFi projects (e.g. liquidity pools) and get rewarded (you can withdraw deposited assets at any time). Then, you reinvest these rewards into new tokens and start farming them (Yield Farming). New tokens’ rewards can be earned for staking certain cryptocurrencies, e.g. BNB, BUSD, and some other crypto assets. In detail, some cryptos are not able for public sale as they had no initial exchange offering (IEO) so launchpools help them to get distributed.

You can also go for Locked Staking and stake your assets on the blockchain. You hold your funds in your cryptocurrency wallet to maintain the blockchain network. To get your assets back, you need to pass a locking period. This locking period depends on the product you choose for staking.

For even higher rates, you can opt for high-risk products which are DeFi Staking, Dual Investment and Liquid Swap. The popularity of these products is accounted for by the fact that people just do nothing but hold crypto in their wallets. Taking into account the fact that these products bring up high risks, firstly consider pros and cons and calculate potential gains and losses, before investing.

DeFi (Decentralized Finance) products on Binance is a good chance to get the highest possible returns without managing private keys, making trades, and performing other complicated tasks required for DeFi Staking. Note that DeFi staking requires you to lock up your principal for a fixed period. If you need to withdraw it in advance, you may lose your corresponding rewards.

Dual Investment is a less risky product which allows you to deposit cryptocurrency and get a return. The return for sure depends on how the market has changed from the moment you started Binance Dual Investment. The final settlement is counted by comparing the settlement price and the strike price. Anyway, you get the yield from your savings regardless if the market price on your holdings increased or dipped: your return is allocated to your benefit here. Bear in mind that you can’t redeem your funds till the end of the locking up period.

Liquid Swap works on the principles of liquidity pools. Embracing the virtues of centralized and decentralized finances, Liquid Swap allows for getting high annual returns by providing liquidity to liquidity pools on Binance. As often happens, high yields bring up high risks – true fact and an irrefutable rule. With the guaranteed capital (remark: not earnings), there might be an anticipated loss.

Ready to get passive income? Go to Binance Earn for more details.

As for other opportunities on Binance, with Binance Visa Card, you’ll be able to pay with crypto all around the globe where Binance Visa Card is supported. Check out the list of countries (question №2) first. As of now, it’s problematic to convert cryptocurrency and withdraw it in the bank. Well, if you want to spend your crypto whenever Visa is accepted, Binance Visa Card is the right thing for you. It is totally free and easily gets linked with your Binance account. On all eligible purchases, you can get up to 8% cashback with this card which is really profitable. You need to transfer your crypto from your spot wallet to your funding wallet – done and dusted! When you’re holding crypto in your funding wallet, you exchange it only when making payments.

Collateralized Crypto Loans are a controversial product. You take a loan for trading, staking – whatever you need for, and secure it by your crypto assets. An initial Loan-to-value-Ratio (LTV) of your collateral comprises 65% and you can use it anywhere. The advantage is that compared to traditional loan rates, these are lower. If the LTV rises to 75%, you will need to top up your collateral to secure your loan. If the LTV goes up to 83%, your crypto collateral will be sold by Binance to cover the loan which in fact means you went bankrupt. Essentially, Crypto Loans are related to a form of leveraging.

Launchpad is the platform for launching tokens on Binance. Find it in the top navigation bar: click on the cube icon in the top left corner. In Launchpad, you can make a good profit on purchasing new tokens. Launchpad works like a lottery where you get tickets. Say that, the more BNB you hold in your account, the more tickets you get. If you win a lottery, you get the right to buy a specified altcoin at an established price. Look into this page, there’s loads of useful info.

On the whole, the true fact is that Binance satisfies the needs of users with different purposes and taste. Either you’re a conservative investor or adhere to a hit-and-miss approach without a fear to go belly up, you'll find low-risky financial products as well as those with highest returns and higher risks. With no moralizing, we can’t but remind you to consider the pros and cons of each financial product, DIYOR and calculate the risks, before investing.

Well, congrats! We’ve discussed a great deal of whatever can come in handy for you on Binance: trading tools, payments options, multiple ways to earn on crypto, potential risks, gains and losses. Welldone! Right now, you are not a beginner, you’re a competent Binance user and can start trading.

With regard to Binance, this is not just the most popular cryptocurrency exchange in the world, it is copper-bottomed, market-proven, and advanced so you can rely on its service. However, everything concerning your funds is your own blank cheque. How cautious and careful you trade and invest depends on you. Define your financial purpose, build your trading strategy – in other words, make a financial plan, and adhere to this. This way, you will avoid the risks of losing your principal, and crypto trading or investing will pay you dividends in the long run.

Let’s face up to the new digital realia. Fiat money goes vanishing day by day, and if you put your thinking cap on your head, you'll realize you’d better have an ace up your sleeve and be able to make profit in the new digital economy without getting on the rocks.

We hope our guide has been a great help for you! You’re very welcome to come back here whenever you need. More information on trading on Binance you’ll find in our next guides and articles. If you think we have missed a trick, please get in touch with us admin@coinrate.com – we’ll make an update and add all the necessary details here.