Learn to Buy and Trade Cryptocurrency on Binance for Beginners

Binance is one of the most popular cryptocurrency exchanges worldwide, and it’s essential to know how to use it if you’re interested in trading and investing in digital assets. In this Binance tutorial for beginners, we’ll cover everything you need to know to get started trading cryptocurrencies on this platform.

– Understand the basics of buying and selling cryptocurrency on Binance.
– Learn about the different types of orders and how to use them effectively.
– Get step-by-step instructions on how to sign up and deposit funds into your Binance account.

Hey guys welcome to my binance tutorial for beginners in this video i’m gonna go step by step for first timers so i’m gonna show you how to sign up for an account with binance all these security settings that we need to go through the information that we

Need to put on account with binance i won’t go over the complex stuff in too much detail but it is really good to just have an overview of what you can do with finance if you become slightly more advanced and i’ll make sure to leave the sign up link to the correct sign

Up page for binance in the description as well if you want to go through click that you can follow along with me or after the tutorial you can click through and go to the correct page to sign up for binance so i’ll leave the link to sign up for binance in the description

So you know you’re going to the right place you should come through to this page which is the home page just giving you some prices of some cryptocurrencies right here and then you can download clients for either mobile or desktop as well if you want to know how to use the

Binance app on your smartphone check out the channel and the binance playlist you can download those clients for desktop but i’m just going to use a browser right here so come to register and then put in your email address and choose a password or you can do it with your smartphone as well

Once you do have your account set up and you’ve gone through all those processes we can first come to our dashboard so this is really where all your security and settings will be changed obviously any alerts that you get from binance will be in here and

They are quite hot on security so every time you use a different device to actually sign in then it will probably go through a security protocol of sending a code and then you can see all the devices that have signed in just to make sure that your account hasn’t been hacked

Let’s just go into our dashboard though so we can come here and then just click on this one and it will take you through to really your security and settings pages whenever you come into your dashboard it’s going to prompt you to set up this security verification

There are two types really one is phone verification so they’re going to send you messages to your phone google verification this one is google authenticator so this is a separate app that you can download you can go to the app store for iphones or you can go to the android app

Store as well download that app this should just put an extra layer of security into your account i recommend you do either one of these i’m just going to click off this for now though just so we can see my dashboard so as you can see before you can buy any

Bitcoins or other cryptocurrencies you do have to set up that security and then you can deposit funds or you can use your card and we’ll get onto all of the payment options in a second as we come down though we can really see the balance details and

What this is going to do is give you an overview of all the currencies in your account now you can see i actually have a bitcoin right here a second cryptocurrency and pound sterling which obviously isn’t a cryptocurrency and it’s just going to give you a good overview of what you actually have

On your account and the spot prices for them you can transfer tokens right here and then any of your history and trading fees any open orders that you have in the market this will be all the overview for you right here what i’m going to do is just come to security because there’s

A few things that we have to look through so this is where you can set up your two-factor authentication right here and as i said there are a few different options either either google authenticator or via sms email as well identity verification can also just increase security on your account

Address management is also really important so if you want to actually send a bitcoin or other cryptocurrencies to friends then you can whitelist these addresses keep them in there and also give them some notes so you know exactly who’s who in terms of sending cryptocurrencies to other people also really important is

Account activity and this will give you all your previous activities so you can see if there was a logon or someone logged into the account from a device that wasn’t yours you can also change the password right here i do recommend doing that fairly often first though that’s come out of our

Dashboard and we’re going to come into the simplest way to buy cryptocurrencies on binance which is with a credit card so we’re going to come right here to credit debit card buy crypto and then we can come in and essentially just give them our card details and we can

Come and buy it now this is the simplest way binance is really acting like a broker in this instance and you can see right now this is btc so this is bitcoin and you can see the chart right here this is the one day chart you can also

See the one hour chart you can also see some cross rates right here so this is bitcoin against the us dollar and we have ethereum here and link so there are a few different currencies right here that you can see it crossed against now if you do want to just pay in

Dollars you can come right here you can see the payment currency is in dollars but you can of course choose absolutely any currency let’s just use dollars for now then you can choose in dollars how much bitcoin you want to buy so let’s say you want to buy

100 us dollars worth of bitcoin it will tell you right down here how many bitcoins you can actually get for that you can also change maybe if you want to buy something else so you know if i want to buy ethereum i can just click right here the chart is

Going to come up so that’s very easy and you can see that 100 equals 0.113 ethereum let’s just go back to bitcoin though so we can search in here btc like this and then you can pay 100 for some bitcoin then you can just simply add a

New card right here and you can see they can uh take visa and mastercard just coming down though obviously important confirm your payment details confirm some safety checks and then you can complete the payment it’s as simple as that if you just come down to buy btc right

Now you do have to verify your identity to actually purchase so let’s click on verify now what is required is your first and last name date of birth residential address and then a form of photo id if you’re in the uk a driving licence is going to be perfect

Other countries of course just choose the most suitable one so if you just go to start right here put in your information go through and then you’ll be able to put in your card details after that and once it’s approved that will be in there for you to use using a card

To buy though is the most expensive way to do it so other ways of actually depositing money into binance is coming back up to here and then coming to a bank deposit right here and this is essentially the same thing but you can see right now we are depositing funds

And you can either deposit crypto cryptocurrencies or fiat currencies and you can choose between them here so if i just go to crypto wherever you have those cryptocurrencies stored then you can scan the qr code right here or you can copy the address now this is the address of your binance account

So if somebody else or yourself in another account has a bitcoin or any other cryptocurrency that is accepted with binance then you will have to put the address in on that service or app so you can either scan or you can copy the address right here now cryptocurrency transactions are non-refundable so it’s

Extremely important that you get the uh correct information and all of that information is here for you to literally copy and paste into the other platform now there are fees to transfer cryptos between services and this is an industry standard thing it’s very small they’re usually called gas fees

So just be aware of that but if you want to deposit fiat currencies as well you can just choose the currency that you want to deposit they most of them are accepted and then as you can see it’s a lot cheaper you actually deposit funds so you can use a swift payment

Setting or a silver game or a silvergate bank payment and both of these are actually free of charge so certainly a lot cheaper than buying cryptocurrencies with a credit card that’s for sure you just have to verify your information just like we did with the credit card

Right here once you have completed your id verification the limits do increase so you can actually deposit a 5 000 us dollars worth per day to actually give to binance withdrawing is a very similar thing so if i just click on withdraw you can see what do you want to withdraw

Do you want to withdraw a crypto so that will obviously go to a different type of cryptocurrency wallet and again you just have to make sure that all of the addresses are in there recipients bitcoin address make sure that the other platform that you’re using you know that information and when it comes

To fiat currencies you can obviously withdraw us dollars or pound sterling whatever you have in there withdrawal info again that is just your personal information all your history will be here for you so we know how to deposit fiat currencies and other cryptocurrencies into binance

How do you actually sell them so if you have some bitcoin uh in binance how do you sell that and actually possibly sell it for other crypto currencies or maybe uh transfer that into us dollars there isn’t actually an option up here that says sell cryptocurrencies but what

We have to do is come into credit debit card like this and instead of buying crypto as you can see right here we’ll just come to sell cryptos we have to click on this very small link right here so what you can do is sell anything that

You have on account i do have some bitcoin on account and it gives you your balance right here so you can actually enter that amount so let’s come down to the currency that we want to receive so i’m just going to put usd in here and click on that

And then you can input the amount now i think the minimum uh transaction amount if you want to sell a cryptocurrency into a fiat currency is a hundred dollars so yes it is you can see here it’s a hundred dollars so you just put the amount of the cryptocurrency that you

Want to sell and it’s going to give you an exchange rate at the current time whatever that may be and the minimum is 100 for you then you can just go to next and it again is the simple information that you need to put on account to trade

If you are a complete beginner that really is the basics of buying and selling cryptocurrencies with binance you can use credit and debit cards or a cheaper option and one that i would recommend over buying with credit cards is a bank deposit because this is a cheaper option as you

Can see the fees are nothing to actually deposit cash the buying and selling fees are very slim as well compared to buying with a credit card selling is also the same with 100 limit but there is a second more advanced way to actually trade cryptocurrencies on binance both buying

And selling and i think it’s really important to know that binance can do this because binance is one of the biggest cryptocurrency exchanges in the world and you can think of it more like the new york stock exchange or the nasdaq where you have many many different traders coming to actually trade

Cryptocurrencies on binance trading fees are much much lower and liquidity is much much higher and it’s good to know this so what i’m going to do first is just come to markets this is a great way to see the spot market in crypto currencies so you can see many different crypto pairs trading

Right now you can also come and search for them and see all of the percentage changes now buying cryptocurrency with your credit card’s obviously very simple but if you do have assets and holdings of crypto currencies you’re going to want to see how the prices are changing every day

This is how you do it there are many different cryptocurrency pairs trading right now as you can see these are some of the most popular now we can click on these and actually go into the trading screen from binance or you can come right up to

Here and click on trade now there’s a couple of ways to do this the easiest way is to let binance do this what i’m going to come on to first though is the trading screen and there’s two options you have a classic and advanced now if you’re brand new and

A beginner to binance just go for the advanced it is not more complex or difficult to understand it is just a newer version so don’t even bother with classic come and click on advanced and we’re going to come through to the cryptocurrency market on binance right now if you are a beginner this

Screen may look just like a total mess but it’s really important to understand some of the basics here and actually it’s not that difficult once you know so let’s go through everything see when you use binance to buy bitcoin with your credit card you have absolutely no choice whatsoever

About the price you are paying you’re just paying whatever the market price may be at the time you press buy but using this software right here you can actually choose some prices that you want to get in and out at this is more like a professional trading setup

So what we can see is the currency pair that we’re trading right now and you can search for pretty much every currency pair so we are looking right here at btc or bitcoin currency pairs right now now what you can see right here is that this is bitcoin

Against usdt which is a us dollar tether so this cryptocurrency is supposed to actually follow the value of the u.s dollar and so what you’re essentially trading is bitcoin versus the us dollar right here you can search for any currency pair that you want so maybe if i type in bnb

Here we can see binance coin against bitcoin so if we click on this right here you can see all of this changes so now this is the market for finance coin versus bitcoin but i’m just going to go back to right here usdt like this click on this one

And then just choose btc and then we have uh bitcoin against the us dollar tether now this isn’t a specific cryptocurrency trading tutorial that’s obviously way more in depth you can definitely check out the channel for those videos though if you want to go more into technical analysis

And charting but for now the basics are this is the chart right here of bitcoin versus the us dollar tether and of course bitcoin is very positive right now and is in the midst of a bull run so we can see this move up here what you can see right here is the

Volume of trades so obviously the higher the bar chart the higher the volume or the higher the amount of trades and obviously the value of those trades is and red and green represent up green up red down so right here there was a very volatile and heavily traded dip and for

The most part the volume is actually on the upside with these green bars right here you can see that this green bar with the high volume corresponds to these green movements up here now this is a candlestick chart so green is up and then red is down each time period for

These bars though i think will be maybe a week or a day and you can actually change this so we can choose the one week chart right here or the one month chart right here you can even choose a day or a three day chart right here so you can see

Sort of timelines now let’s come on to the order book because this is really important to understand as well first thing is that we are trading spot spot means that this is the market for currency exchange right now and we don’t want to choose any of these because these are

Futures and margin markets and we’re not going to get into that so the order book is right here and you can see it’s actually called order book so what you can see in red and green are bids and offers now bids are buyers everything in red is an offer

Everything in green is a bid so all of these uh options you can see right here these are different prices that people want to trade bitcoin at all of these prices right here are people that want to sell bitcoin all of the offers will be at a higher price

Than the bids because obviously these people on the order book want to buy bitcoin but they have certain prices and of course if their prices were to match these prices they would trade and execute their trades but obviously the bids right here are going to be at a lower amount than the offers

Up here you can actually join the order book so right now bitcoin you can see the price and it’s moving around quite violently but let’s say you know 940 like this well maybe you don’t want to pay 940 but you want to pay 900 you can actually come and join the order

Book and say hey everyone i’m a buyer of some bitcoin and i want to pay uh 900 you can join the order book right here and if the price gets to that level then you will buy it and obviously someone will sell it to you at that price

The way that we can join the order book and place orders is right up here so are you a buyer or a seller let’s say i want to buy right here then we have two different options a limit and a market order limit orders are orders where

You input a price that you are willing to in this instance buy at so you can see the price is right here thirty four thousand and four and the amount of bitcoin let’s say though that you don’t want to pay that so you can actually change this so let’s come to thirty

Three thousand nine hundred like this so that is the uh amount of the us dollar tether currency that you want to pay per bitcoin like this you can come and then press buy a bitcoin and your order will come and join these bids so you will be down here at 33

At 33 900 and of course that is below the current price so you’re not going to buy them but you will join the order book and if the price does fall then your order will be filled you can also do the same for selling so if you have

Some to sell you can see you’re a seller right here and actually changes to uh the last price that was gone through so 34 000. let’s say that you want to sell up thirty five thousand this is obviously too expensive the market’s at thirty three thousand nine hundred

So you won’t sell at this price but you can join the order book higher up if the price goes up then you will sell at this price thirty five 000 us dollar tether and you want one bitcoin then obviously the price is more or less 35 so that

Would be therefore you can sell so you can join the order book either as a seller or a buyer or if you don’t care about the price just come to market order the price of the us dollar tether is whatever the market may be at the time

How many bitcoin do you want to sell and i have do have some on account as you can see so 0.003 you can actually sell those bitcoin or you can choose a percentage of your holding to sell so maybe you only want to sell 20 of your holding it’s just going to be

Rounding to 0.001 you can then come to sell your bitcoin at the market price so either limit or market orders are available like i said if you want a way more in-depth tutorial into this and how to actually input all of these orders and all of the charts that will be on

The channel but for now i just want to keep it simple so right here if you do want to buy with us dollars you can actually press this option it’s going to go right through to that trading screen where you can buy cryptocurrencies with your credit card

The other way that you can trade cryptocurrencies though if uh this is all too complex for you is by going to the convert options so instead of coming to the advanced trading screens come up to convert right here and it is much like when we were trying to sell some cryptocurrencies for

Fiat currency so whatever you actually have on account so i’m just going to choose bitcoin because i think i do have some on this account right here you can see what i have available right now so let’s just put that in you can see i have that and i can

Actually convert that into any other cryptocurrency that i want so i can actually sell my bitcoin and then buy ethereum or i can buy many other cryptocurrencies right here and what will happen is that finance will convert this for you this is called an otc or an over-the-counter portal so

Instead of getting involved in the cryptocurrency market and exchange right here which i know is complex for beginners you can just very simply go say yeah i’ve got some bitcoin on account i want to sell those and i want to buy some ethereum or other cryptocurrencies

And the price is just going to be determined at whatever the market price is at the time that you do it it’s far simpler to do it like this now you don’t have control over prices so that is something that when you do become more advanced you might want to go to this

But for most people this is going to be a very simple way to do it now i want to come to something called finance earn because if you do hold cryptocurrencies with binance or other platforms there are of course other features for example earning interest on your cryptocurrencies so if

We come to binance earn now this is what sometimes called staking so just like any other currency that you have if you lend it to people or give it to the bank they should actually give you an interest rate for you having that currency on account i’m

Not gonna go overstaking in too much detail but you can think of it more or less as having money on an account and earning an interest for it being there now there are different types of staking and different types of terms that you can use with binance earn

There are flexible terms and fixed terms now each cryptocurrency and each way of saving has different types of investments but you can see them all here so if you put some cryptocurrencies on account for example over a fixed term for 30 days or 60 days you can earn an estimated apy or an

Income from the currencies that you actually have on account and there are different types of staking available high risk products carry a higher percentage return of course and very low risk products have a lower percentage return but obviously less risk if you therefore have some bitcoin

On account as you can see right here you can transfer them into the savings period and actually stake those coins now there are different coins as you can see that have different rates but you can see a lot of options for staking coins that may actually produce a return

For you for your cryptocurrency holdings you can choose all the terms here so if you come down to locked savings for example and we have some different periods here so if you want to put money on account for 90 days then the interest per lot as you can see right here so

I’m not going to go over it in too much more detail than that just to say that staking and earning interest from cryptocurrencies is available right here something else that’s really important though once you have traded and bought cryptocurrencies is to look at your wallet so we’ll come

Up here to wallet and then we’ll just quickly go to the overview now this is going to give you a very quick overview of your holdings on account and i have a couple of different cryptocurrencies right here as you can see and also pound sterling on account it’s a very tiny amount

But if you want to withdraw those or transfer those those options are here so you can go to other accounts also very important is coming to wallet overview and then fiat and spot so we’re going to click on this one now what you can see is just a general overview of all the

Currencies that you have on your account fiat is obviously us dollar pound sterling like that spot rate for all of the crypto currencies so your total holding uh worth of bitcoin is right here spot balance fiat balance spot balance of cryptocurrencies balance of your fiat currencies

And then a p l analysis of each day in terms of how those cryptocurrencies have changed in value in the market for that day and then you can see all your balances right here so you can see my fiat currencies right here and then my cryptocurrency holdings

Down here and you have lots of actions you can buy a deposit withdraw and trade those and it’s going to take you through to all the screens that we’ve just been looking at if you just click on p l analysis right here it’s also a really great way

To see the analysis of all the cryptocurrencies on your account you can see your p l for the day and the month it’s all going to be right here and it’s going to give you some graphs now this is an account that i’ve just used for tutorials so it hasn’t got a

Lot of history but it will all be here for you finance is one of the biggest cryptocurrency exchanges in the world and you can trade like this now if that is too difficult for you as a beginner then you can just come and deposit some fiat currencies on pay with your credit card

But what i do like about binance is that it has those simple options right here and when you do become a little bit more advanced and have more confidence you can go to those advanced trading features and really set your prices and your volumes according to exactly what you want to do

I’ll make sure to leave the signup link to the correct sign up page for binance in the description also more trading tutorials and binance tutorials i’ll put all of that in the description for you so you can go and check that out that’s it for this one though thank you

For watching best of luck with your crypto trading and i’ll see you in the next one

The Binance tutorial offers an easy-to-follow guide for beginners to buy and trade cryptocurrency on the Binance platform. The article covers the registration process, ID verification, deposit and withdrawal, and trading features. The tutorial explains how to buy Bitcoin or other cryptocurrencies with fiat money or with other cryptocurrencies. It also describes how to use the Binance exchange to trade various cryptocurrency pairs. Overall, the tutorial is an excellent resource for newcomers to the cryptocurrency world who want to start trading on the Binance platform.

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