BINANCE EXCHANGE Review & Guide| BINANCE FEES | BINANCE LAUNCHPAD & MORE
Having already seen the top crypto platforms, I sat down and thought of this. Could it be there is need to write an elaborate guide on Binance about Binance us customers, Binance dex, Binance news and more?
And it occurred to me that it is very necessary, therefore, without further ado, let’s get to know about Binance.
What Does Binance Mean?
Binance means binary and finance.
Apart from the fact that they have a High-Performance framework of processing 1,400,000 orders per second, high liquidity with abundant resources and partners.
Binance Dex
Binance Dex is a decentralized exchange running on the Binance Chain.
Binance DEX (Decentralized Exchange)was launched on Binance native blockchain, Binance Chain, to empower community growth and foster the industry’s long-term vision of peer-to-peer trading.
According to Binance CEO,
“We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system,” said CZ (Changpeng Zhao), CEO of Binance. “With no central custody of funds, Binance DEX offers far more control over your own assets. We hope this brings a new level of freedom to our community. We will work closely with projects and teams to grow the entire ecosystem.”
Binance Fees
At Binance, Trading Fees
At 00:00 AM (UTC) every day the trading volume over the past 30-day period and the current BNB balance are evaluated. Your Tier level and corresponding maker/taker fees are updated one hour later.
OCO order on Binance?
An OCO, or “One Cancels the Other” order allows you to place two orders at the same time. It combines a limit order, with a stop-limit order, but only one of the two can be executed.
In other words, as soon as one of the orders get partially or fully filled, the remaining one will be canceled automatically. Note that canceling one of the orders will also cancel the other one.
When trading on the Binance Exchange, you can use OCO orders as a basic form of trade automation. This feature gives you the option of placing two limit orders simultaneously, which may come handy for taking profit and minimizing potential losses.
How to use OCO orders?
After logging in to your Binance account, go to the Basic Exchange interface and find the trading area as illustrated below. Click on “Stop-limit order” to open a dropdown menu and select “OCO.”
On Binance, OCO orders can be placed as a pair of buying or selling orders. You can find more information about OCO orders by clicking on the question mark.
After selecting the OCO option, a new trading interface will be loaded, as shown below. This interface allows you to set a limit and a stop-limit order simultaneously.
Limit order
Price: The price of your limit order. This order will be visible on the order book.
Stop-Limit
Stop: The price at which your stop-limit order will be triggered (e.g., 0.0024950 BTC).
Limit: The actual price of your limit order after the stop is triggered (e.g., 0.0024900 BTC).
Amount: The size of your order (e.g., 5 BNB).
Total: The total value of your order.
In-depth guide on Stop-loss — How to Use Binance Stop Limit, Market Order & Stop Loss
Binance Support
You can simply contact the Binance Customer Support Center service which is online 24/7 to help with your needs.
For instant contact, you can always go here — https://binance.zendesk.com/hc/en-us/requests/new.
Binance ios app
BECAUSE Binance is committed to providing her users a safe and easy to use the crypto trading app to trade across our exchange, they introduced a mobile trading app also allows you to buy bitcoin and cryptocurrencies from the Binance app and allows for easy crypto margin trading across different crypto markets.
Trading bitcoins or cryptocurrencies is easy with the Binance iOS app, you can trade everything from Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), EOS, Bitcoin Cash (BCH ABC), Tron (TRX) and other altcoins — Binance offers a range of crypto trading pairs to choose from and also regularly assesses coins and projects for inclusion on the Binance exchange!
Supported Crypto Wallet & Digital Assets
Binance has a range of crypto wallets which allows you to store many types of digital assets, our crypto wallet offering now supports Bitcoin (BTC), Binance Coin (BNB), Ripple (XRP), Bitcoin Cash (BCH ABC), Ethereum (ETH), Ethereum Classic (ETC), Litecoin(LTC), Basic Attention Token (BAT), 0x (ZRX), Tether (USDT), TrueUSD, USD Coin (USDC) and more.
Binance Twitter
Binance Twitter is the social platform Binance uses to communicate with her followers. As of the time of writing, the official Binance Twitter handle with @binance has a million followers.
Binance Launchpad
Binance Launchpad is a token launch platform for transformative projects. On the other way round, it’s a specialized airdrop and token distribution platform of cryptocurrency tokens.
How To Participate In Launchpad Airdrops & ICOs
- Complete verification of your Binance account.
- Follow the announcements on the official Binance profiles on Twitter.
- Store at least 500 BNB to participate in the Binance Lottery
Binance Exchange
Binance is an exchange where users can trade cryptocurrencies. … Binance provides a crypto wallet for its traders, where they can store their electronic funds.
Binance has its own token currency, Binance Coin. The exchange also has supporting programs that help traders make investment decisions.
How to create a free account on Binance? Go to Binance.com/Create a free account.
Read also — How to use Binance in the US, Nigeria, Binance Tutorial for Beginners
Binance Coin Price
Binance Coin (BNB) is the cryptocurrency of the Binance platform. The name “Binance” is a combination of binary and finance. As of 2019, many businesses accept BNB as a form of payment.
To check Binance coin price, all you need to do is to see through coinmarket
Binance Trading Fees
Margin trading is a method of trading assets using funds provided by a third party. When compared to regular trading accounts, margin accounts allow traders to access greater sums of capital, allowing them to leverage their positions.
How does margin trading work?
When a margin trade is initiated, the trader will be required to commit a percentage of the total order value. This initial investment is known as the margin, and it is closely related to the concept of leverage.
In other words, margin trading accounts are used to create leveraged trading, and the leverage describes the ratio of borrowed funds to the margin. For example, to open a $100,000 trade at a leverage of 10:1, a trader would need to commit $10,000 of their capital.
Naturally, different trading platforms and markets offer a distinct set of rules and leverage rates. In the stock market, for example, 2:1 is a typical ratio, while futures contracts are often traded at a 15:1 leverage.
Trust Wallet with Binance Coin (BNB)
The Trust Wallet with Binance Coin (BNB) support and the most top blockchains. Only you have control over your funds.
With the mobile app, you can receive, Send, Store and exchange your cryptocurrency right in the mobile interface.
Binance Labs
Binance Labs is the venture arm of Binance, established to incubate, invest and empower blockchain and cryptocurrency entrepreneurs and communities.
The mission of Binance Labs is to support industry projects that help grow the larger blockchain ecosystem, realizing the full potential of blockchain technology and its social impact, while increasing cryptocurrency adoption globally.
Binance Chain
Binance Chain is a blockchain software system developed by Binance and its community. Binance DEX refers to the decentralized exchange features developed on top of Binance Chain.
What can I do with Binance Chain?
The purpose of the new blockchain and DEX is to create an alternative marketplace for issuing and exchanging digital assets in a decentralized manner.
You can:
- Send and receive BNB
- Issue new tokens to digitalize assets, and use Binance Chain as underlying exchange/transfer network for the assets
- Send, receive, burn/mint and freeze/unfreeze tokens
- Propose to create trading pairs between two different tokens
- Send orders to buy or sell assets through trading pairs created on the chain
- Watch the DEX market to confirm price and market activity of certain assets
You can also:
- Explore the transaction history and blocks on the chain, via Binance Chain Explorer, API and node RPC interfaces.
- Run a full node to listen to and broadcast live updates on transactions, blocks, and consensus activities
- Extract other data of Binance Chain via full node or APIs
- Apply to run a validator node
- Develop tools and application to help users use Binance Chain and Binance DEX
In the future you may also be able to stake your BNB to join Chain Governance, if you so wish.
Free Material: 100 free crypto tools to use
Final Notes.
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Have you started using Binance and all the benefits yet? If no, here is the General Binance.com.
