HOW TO USE BINANCE: ULTIMATE BEGINNER’S GUIDE SERIES
So, you have finally made up your mind to invest in cryptocurrencies. Well, congratulations!
I bet the next questions in your mind are how to buy digital assets, the best exchange to use, and how to trade. In this tutorial, I’ll teach you all you need to know about how to use Binance exchange. From how to sign up to how to secure your account, trade, the trading fees associated with the exchange, and of course some comparison with other exchanges.
Be rest assured, by the time you are done with this ultimate guide, you’ll know all about how to use Binance.
That being said, let’s quickly run through the history of Binance.
What is Binance and when was Binance founded?
Binance is the brainchild of Changpeng Zhao and Yi He. The duo were workers at OKCoin exchange. In 2017, they decided to build their own crypto exchange. Following a $15 million ICO fundraising round that lasted for just 20 days, Binance launched in July 2017. Binance sold 100 million pre-created BNB tokens during the ICO.
Fun fact: An initial coin offering, otherwise known as an ICO, is a quick and easy way for crypto-based businesses to raise funds without having to deal with regulatory hurdles. ICOs are quite similar to Initial Product Offerings (IPOs). ICOs became quite popular in 2017 and 2018. Sadly, many of them turned out to the scams.
World’s largest cryptocurrency exchangeSurprisingly, although Binance was not the first exchange, it became the world’s largest cryptocurrency exchange by trading volume in less than eight months after going live. The company has since expanded its offering to include many products, including Binance Academy, Charity, Cloud, DEX, and Launchpad, just to mention a few.
As I said earlier, Binance is not the first exchange, neither is it the last. Before Binance, there were other exchanges such as Kraken, Gemini, and even Coinbase.
Coinbase was founded in June 2012 and claims to have more than 35 million users worldwide.
How to register on Binance
It’s a no-brainer that before you start trading on Binance, you must have created an account with the exchange. Follow the simple instructions below to open an account.
Head over to the Binance website and click on “Register” from the dashboard.2. You will be redirected to a page where you will need to enter your email address and create a password. There is also an option to use your mobile number.
3. Input your email address or phone number and password, and then agreed to Binance’s Terms of Service. Next, click the Register button.
4. Prove that you are not a robot by completing a simple puzzle.
5. Once this is done, an email or text message will be sent to you, depending on the option you choose earlier. Verify your email or mobile number by entering the six-digit code that was sent to you.
Congratulations! You now have your own Binance login account.
Ensure you use a secure email when creating your new Binance account.Your password should be a combination of upper and lowercase letters, numbers, and special characters.Use this Binance referral ID W7G64EBZ to enjoy 20% commission money back.
Now that you have created your account, I’ll teach you how to secure it. And this brings me to my next subject.