How To Use Binance Exchange To Trade 300+ Altcoins Professionally — THE SPARING TRADING TEMPLATE
Post update — here is an updated guide to trading Altcoins on Binance.
So, the way I am going to do this will be — by putting even the best efforts for you to see what I am talking about.
Let me make ya bullish with a data.
This is a 5000+ word post/tutorial.
We promise that at the end of it all, you will definitely see how to:
• Transfer your crypto coins from any crypto exchange in the world to Binance,
• Trade with it on Binance with Stop Limits.
• Withdraw your earnings to fiat — your local currency.
Note: Should you observe less or more,
We ain’t looking for perfection on this but with the images/steps therein, we believe that as a beginner, you can start right a way to crypto trading.
About this trading method,
This method of trading is called The Sparing Trading Template. You will see why it is sparing.
HOW I USE BINANCE EXCHANGE TO TRADE
YOUR DECISION TO TRADE
I don’t know your decision to trade but for me, it is to make little, and I mean adding sparing coins to my portfolios.
Why am I saying so?
It might be that I was scammed my last Bitcoin some time ago and I am more careful or I just want to follow the right path.
You see,
I am an inspirational speaker/writer, and saying so (to make little) does not mean I don’t want to win big wherefore I can travel out to Costa Rica for vacation in 4 weeks from now.
I really want to and I believe in positive thinking/affirmations. They work. But the missing piece is mixing them all together.
If you do, you are in for a disaster.
It is just like going on a meditation such that you’re assured of getting the right signals to trade on afterward.
I think you want to go on a sabbatical trading and not really crypto trading.
And if you want to prove me wrong.
I have done that (positive thinking) and it did not apply to crypto trading.
So, it’s either you take it from me or better still, try it out yourself and tell us how you went about your emotional trading.
CRYPTO TRADING IS TECHNICAL
I was afraid of trading. It was and it is still technical. And so, this not a technical way to trade.
If you want to that way, then, you may want to see some videos on YouTube and learn from Pro traders. Using little fingers method.
Again, this is not a trading path that will guarantee a $4,000 in one day.
But if you can make use of $5,000 to trade in at a difference of 100 points (added Satoshis). I think, you will just be fine.
OUR ESSENCE
I just want to make sure that while we create a crypto data posts and blockchain analytics, we strive out means to make little money side-by-side.
Or, won’t it be great that you make $10 a day from your home?
If yes, that is the essence.
And by all means, how we shall be trading might not make sense to everyone because, like me, it’s not everything that makes sense to me.
The main essence is if Part A makes sense, and Part B does not. Oh baby, go ahead and take the part A.
And a complementary option will be in you sharing this post if it helps at the end of the day.
WHY USE BINANCE CRYPTO EXCHANGE?
I have already detailed how to use Binance crypto website.
The thing is, here at iwillteachyoucrypto, we believe in using it to see if it is actually what they say. I am coming to that soon.
Just so you know, Binance is led by Changpeng Zhao. They claim that their team have experience in both wall-street and crypto finance
Well, that is not so important to us. What we need is quality service as far as the team knows exactly what they are doing.
WHAT WE ALREADY KNOW ABOUT BINANCE
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, other stand out options include:
#1. Safety Stability
Binance believes that the system they are founded is safe.
Well, after we use it below to make a withdrawal you can judge it from there because I can say yes and at the same time no.
However, the fact that won’t change is the design known as a Multi-tier & multi-cluster system architecture they are founded on, an edge in terms of security.
#2. All Devices Covered
Great option. Binance is now compatible with any of your devices, so, you can use the Web, Android, iOS, Mobile Web, Windows, and macOS.
#3. Multilingual Support
The above option seems not a big deal but to me, it is.
Give me a framework in a language I understand so as to outperform my abilities. That is where you want to use Binance, why?
Because Binance is available in multiple languages and also a Support and FAQs in multiple languages.
#4. Multiple-Coin Support/Pairs
At Binance, it might not be many yet they support multiple coin pairs which are BTC, ETH, LTC, BNB, and USDT.
So, this means that you can trade BAT/BTC, XRP/BTC and more.
Should you want more info on them, read their about page.
So, the focal question is still, Why Use Binance Crypto Exchange?
Well, you can see from the above the options you are presented with.
But if you ask me, it is all about the user-friendliness and security.
And should you want more, there is a 50% slash on fee charges if you use the BNB coin.
User friendliness and security? You will see it as we make withdrawals.
HOW TO USE BINANCE EXCHANGE VS TRADING ON BINANCE CRYPTO EXCHANGE
If you want to use Binance, it is very simple, I mean, it is just a matter of copying out crypto wallet addresses and pasting to send and receive coins. That is all.
But if you want to trade, then, let’s see how I go about it sparingly.
So you know, I just opened a new Binance account for trading over 300+ coins.
Now, I am not saying you should dump your old account and open a new one, but if you want to have a new beginning with a new model, who knows, my method might be the best for a person like you.
Okay, I opted for Binance, why, when we have BitMEX?
Well, it is simple.
I had always feared the word trading — it was too technical an issue talk less of imagining it.
Along the way, I got a nice signal and wanted to try this out, so, I used my old Binance account and bought EVX coin.
Now, I was flawed. Why? The steps were just like using Coinbase, very simple.
Fast forward to about some weeks using Binance, I went over to BitMEX to trade, ohhhhhhhhh my, I was lost (I am not ashamed to say that though).
I even had to read a tutorial by hackermoon, but yet, I was still lost — more time I guess is what I need.
So, using Binance is great, it is an exchange for both the beginners and advanced because you have two sections to trade with — the Basic — beginners and the Advanced — Pro.
Therefore, if you want to make a choice (at the start and as a beginner), like me, I would say, start with Binance exchange.
To have massive Success, use this combo — Binance and Coinbase
General Binance.com Exchange | Coinbase.com |
HERE IS WHERE IT BEGINS
Before you trade, you want to have a new trading Binance account.
And if you are comfortable with the old one, you can scroll down to other steps.
Opening A Binance Account In 5 Steps
#1. Go to www.binance.com/signup and register for a new account.
Make sure you see the same dashboard below to avoid phishing.
#2. Enter your personal information and click on register.
Wait for it to verify.
#3. Fix the puzzle correctly
An email will be sent to your address.
Open it and verify your account by Clicking on Verify Email.
When done correctly, you will see Account activation successful.
#4. Login to your account and start your transactions.
#5. When logged in, tick all the Safety Risk Notice. When done, click on I understand, continue.
That is all. Your account is ready for trading.
HOW TO TRANSFER ANY CRYPTOCURRENCY TO BINANCE FOR TRADING
How To Send Ripple Coin — XRP
Using Binance Vs Cointal — I discovered and used Cointal in 2017
On Binance — Receiving Exchange Wallet
#1. Login to your account and click on Deposit.
#2. Select XRP, agree to the terms
#3. The XRP recipient wallet address and the Destination Tag will be shown to you.
On The Sending Exchange — Cointal
#1. Login, and go to your ripple wallet.
#2. Click on Send Ripple.
Spaces to enter the XRP recipient wallet address and the Destination Tag will be shown to you
On The Receiving Exchange Wallet — Binance
#1. On your Binance account, Copy the wallet address and destination tag and paste as required from the sender wallet (Cointal).
#2. Click on Send or validate on the sending exchange.
Wait for it to validate that the transaction was successful.
When successful, you will see the Ripple coin in your Binance wallet.
How To Send Bitcoin — BTC
Using Binance Vs Coinbase — (Anything BTC, LTC, ETH, BCC & ETC is Coinbase).
#1. Go to www.Coinbase.com/signup and register for a new account.
Make sure you see the same dashboard below to avoid phishing.
#2. Enter your personal information and click on register.
An email will be sent to your address. Open it and verify your account by Clicking on Verify Email.
When done correctly, you will see Account activation successful.
#3. Login to your account and start your transactions.
On Binance — Receiving Exchange Wallet
#1. Login and Click on Deposit
#2. Select BTC
#3. Copy the BTC wallet address to Coinbase.
On Coinbase
#1. Already logged in, go to account at the top left.
#2. Select Bitcoin wallet. Click on Send Bitcoin
#3. Enter the Bitcoin Address from Binance, the amount and description (if you want).
#4. Click on send.
#5. Confirm that you want to send the specified amount.
Wait for it to validate that the transaction was successful.
When successful, you will see the Bitcoin in your Binance wallet — congratulation.
How To Send Ethereum — ETH
Using Binance Vs Coinbase — (Anything BTC, LTC, ETH, BCC & ETC is Coinbase).
On Binance — Receiving Exchange Wallet
#1. Login and Click on Deposit
#2. Select ETH, copy the ETH wallet address to Coinbase.
On Coinbase
#1. Go to www.Coinbase.com/signup and register for a new account (if you did not)
Already logged in, go to account.
#2. Select Bitcoin wallet. Click on Send Ethereum
#3. Enter the Ethereum Address from Binance, the amount and description (if you want).
#4. Confirm that you want to send the specified amount.
Wait for it to validate that the transaction was successful.
When successful, you will see the Ethereum in your wallet — congratulation.
HOW TO SEND 300+ CRYPTOCURRENCIES TO BINANCE FOR TRADING
Just as I have done above using the three examples, please go ahead and replicate the steps and you will have the same successes.
That is how we do it at IWTUC- we show you the exact steps.
How To Check Your Balance On Binance Crypto Exchange
When you log in, click on Funds.
Click on balance and select, or look out for the coin you want to check out.
So, that is all you have to do and you are ready.
HOW TO SET UP 2FA ON YOUR BINANCE ACCOUNT
I know this is important but what is even more important is the safety of the mobile device you will use for the 2FA process.
It might sound stupid or funny, but I would advise if you can get a $50 mobile phone just for 2FA, that will be great.
This means that you use it only when you want to log in to your two-factored accounts.
Why?
It won’t be easy for you to use a different Google authenticator for your account in another phone. So, you’ve got to play it wisely.
WHICH COINS DO YOU TRADE OR HOLD?
Some of the coins during ICO were too good to be overlooked, they were simply damsels to hold on to, but now, they are just another shitty coins.
CRYPTO TRADING, HOW YOU’VE LOST SO FAR
I am saying how you’ve lost so far. Yes, I mean, how I have lost so far.
I don’t want you to make the same mistake I made because I was indicted to buy a coin I never knew nothing about.
As funny as it sounds, up till now, that coin is not salable because the buying in price has not been recovered since then.
HOW TO USE BINANCE EXCHANGE & TRADE OVER 300 ALTCOINS PROFESSIONALLY
I know you might think this is a big deal, but I will prove you wrong. It is very simple.
As a beginner, what does trading mean?
It simply means, give what you have and get what you don’t have.
But in crypto trading, it further mean, buy cryptos at low prices and sale or resale at high to maximize profits.
The only thing that stands between you and trading is the signals to trade with, (I will come to that soon).
With that, let me show you how to use Binance exchange to trade over 300+ altcoins professionally from the comfort of your home.
So, are you bullish? If you are, then, let’s do this together.
I want to trade Basic Attention against Bitcoin — BAT/BTC
This is how to do it…
Signal:
Buy some #BAT 1500 -1610
Sell 1700–2030.
#Binance
Having deposited BTC to use and trade on my Binance account,
#1. I will log into your Binance account
#2. I will go to Exchange on the top left hand side.
#3. I will select Advanced by hovering above the Exchange tab.
#4. Since I want to trade BAT/BTC, and based on the quantity given from the signal, I will enter BAT in the Search Bar and click Enter.
#5. I will buy BAT at 1500. What I need to do is enter the quantity and click on Buy.
That is all about buying the BA Token (or any other crypto coin pairs on Binance)
We are watching closely so as to trade it…remember, trading is about reselling for profits.
So, I might watch the coin price movement closely or put a Stop Limit.
As a beginner, do not let the Stop Limit confuse you. If you have the time, you can watch it closely, be it as it may, I will show you how I do it.
Watching The Price Movement Closely
I would be with my trading app or PC to see how it goes. Immediately the BAT price rises to 1700, I would close the deal — sell it and make a 200 difference profit.
How To Close A Trading Deal
At 1700, I would enter the amount of (my) BAT I want to resale — trade. If all of it, I will click on the 100% knob.
Then, click on sell. That is how to close the deal.
That is all about selling the BA Token (or any other crypto coin pairs on Binance)
Signal & Meaning
Buy some #BAT1500 -1610
Sell 1700 -2030.
#Binance
The meaning,
It means, I should buy Basic Attention Altcoin for a quantity of about 1500 -1610 — #BAT 1500–1610.
And watch it closely to sell between 1700 -2030 — Sell 1700 -2030.
#Binance — this means the signal is on/for Binance crypto exchange.
Based on the above projection, when the coin rises to 1700, I would do well to sell it.
As I said earlier, a 200 Difference profit is not bad. Else, when greed overtakes you, you will lose all.
Let me explain further.
Buy some #BAT 1500 -1610
Sell 1700 -2030.
#Binance
• If you decide to sell at 1600, the risk is 5%.
• If you decide to wait and sell at 1700, the risk is 10%.
• If you decide to wait and sell at 1800, the risk is 20%.
• If you decide to wait and sell at 1900, the risk is 50%.
• If you decide to wait and sell at 2000, the risk is 80%.
The more you want, the more the risk.
So, if greed gets hold of you at 50%. That is, anticipating for it to reach 1900 before you sell, don’t be moved if you see it at #BAT 1500–1400 (initial price). Oh yes, it sure happens.
Therefore, if you will want to use my method, you want to manage greed sparingly, else, it will manage you flawlessly.
The Difference In Profit?
Now, you might say 200 profit it is not much.
Well, I know, but if I had used $1000 to trade the BA token, just calculate what a 200 difference can make to a $1,000. More reasons below.
So, that is how to trade cryptos sparingly.
The profit is not much, but as I progress, there will be room for improvements and more addition of coins sparingly.
Stop Limit(s)
For now, I just want to use this time and explain Stop Limit because I never understood it by explanation until I applied it.
But if you want other crypto trading terms, you can hover to 300 cryptocurrency trading lines for laymen. Check it out.
This is how it goes.
Given the signal above,
Buy some #BAT 1500 -1610
Sell 1700–2030.
#Binance
Stop Limit — Selling
A good Stop Loss you can put here (depending on how you want to make profit), if around 1705, I would put a limit at 1704, and a Stop Loss at 1702.
Now, for some obvious reason, the Stop must be higher than the Limit
The meaning is that, when the coin rises to 1704, it will be triggered to sell out 1702– automatically.
Stop Limit — Buying
With the same amount of coin value, if the last price rises to or above 1806 an order will be triggered to buy at 1804.
The essence of it is to guide you in order not to lose out — if you are not ready to keep staring at your computer screen (watching it).
In summary
Note: Stop must be higher than the Limit
Why This Method Is Sparing
I am not willing to tell you how I made $6,000 overnight trading altcoins, so, this method is all about sparingly adding coins to what you already have.
Little Win+ Little Win + Little Win = Big Win.
Read Also:
#1. WORLD TOP 35 BITCOIN/BLOCKCHAIN TECH FRIENDLY COUNTRIES BY RANKING
#2. HOW TO BE A SUCCESSFUL CRYPTOCURRENCY INVESTOR/TRADER IN 35 STEPS From 7 Popular Crypto…
THE DETERMINANTS OF TRADING WINS
#1. Getting Signals
Now, it is very very important you note where you get your signals from. Why?
The environment you are shape your thoughts and the same environment has a way of being a determining factor to your wins here.
So, if you are getting the trading signals from the wrong sources, then you want to revisit your master plan to truly see if the signals you have been getting aligns with the results you’ve been getting.
If no, then, you want to solve that before you move on to trade again.
#2. Wining Signals
Most of the time, it is all about being part of the group wherefore you get the right signals.
And before I recommend some signals points, you want to know that one of the factors that create a win is when a coin is added to an exchange for the first time.
For instance, just like TRON was added to BitBay yesterday — 19th September 2018, if there is news that ICX ( a possible trading coin) will be added to an exchange like Bithumb and so on, there is an 80% win to trade it.
Why?
Because a newly listed coin tends to be rushed at, and as students of economics, we know that more demand means more valuation which leads to trading wins.
But be on your rear guard to sell the coin out after the hours of surging. Don’t try to gain TOO MUCH from it. Just a sparing profit and you are good.
#3. Being Patience And Accepting Loss
Now, if you were given a signal to buy in a coin at 1200, and before you got it, it went up to 1300, I would say, look the second time before you trade the coin, else, you want to lose out on that one.
This is what I learned.
I came to see a surge in a coin I liked, I was not sure if to go for it.
After looking closely, I saw it added more Satoshis. I said, yeah, have got to put in some trading.
I did, and after about 5 minutes, the coin bottomed — went down.
The battle line?
I never lost because I was patient enough to wait for it to go up to a relative price for me to trade back, but yet, you want to lose out on some trading (if it is late — signaled time).
And if you want to follow my principle, you want to trade just two times in a day. This is the method of sparingly trading.
The amazing fact is when you know that your first two trades matter so much, you will be too careful to trade in late or allow greed to get hold of you.
So, it’s a 2 times trade per day.
Okay, I know that after a successful trading you will want to withdraw your money for a fiat exchange. If yes, great because I will show you exactly how.
HOW TO WITHDRAW YOUR PROFITS FROM BINANCE TO FIAT
After a successful series of trading, to exchange to fiat for daily usage (if you don’t want to use bitcoin debit cards), you will have to sell/trade the coins back to BTC, ETH, LTC, BNB, and USDT.
How?
If it was a BAT/BTC trade, all you have to do is sale BAT and get BTC. It’s that simple.
From there, you can trade it again to fiat.
How to go about this is using some reputable exchanges you trust.
At IWTUC, we work with few exchanges in order to properly guide you and also know our boundaries.
So, we work with Coinbase, Coinmama, CEX and few others.
And since we had already used Coinbase, we will use CEX.IO and make a withdrawal to fiat.
As our custom, let’s show you how to do it practically.
How To Do It?
Steps:
Withdraw BTC or ETH, LTC, BNB, and USDT > CEX > Withdraw it/them to fiat via credit card, Bank transfer or CryptoCapital.
On Binance Exchange
#1. Go to Funds and click on withdrawals
#2. Select the coin you want to withdraw — BTC, ETH, LTC, BNB and USDT. Here it is BTC
You will be shown a space to enter the recipient BTC address — that is the CEX BTC address.
Go to CEX and copy the BTC wallet address and paste it above.
Go to CEX.IO
#1. Go to https://cex.io/signup and create an account
#2. Verify your account
#3. Go to withdraw at the top right margin.
#4. Thick that you want to use Bitcoin (you can read their terms if you want).
#5. Copy the Bitcoin address you will be shown — to Binance.
On Binance Exchange
#1. Paste the Bitcoin address from CEX. Enter the amount and click on send.
Look up — two verification/authentication — two phases of security blocks/checks before you withdraw.
I mean, a 2FA and Email authentication.
#2. Complete all the verification/authentication and you will get a success report.
Meaning that the transaction is processing on the Blockchain.
Go to CEX.IO
#1. Login to your CEX.IO account.
See the top left if it has been delivered.
The one we did for this tutorial has been delivered. So, no time to waste.
I will go ahead and show you how. Mind you, we did the transaction today — that is how important you are — we need to show you EXACTLY how to, so you can learn from us/mistakes.
#2. Click on withdraw.
#3. Click on Trade to change BTC to USD or EUR, GBP, RUB.
Let’s assume you had trade it to USD, we showed how to trade with CEX here.
#4. Your amount in USD will be shown.
#5. Enter the amount you wish to exchange to fiat and Choose withdrawal payment method.
#6. You can use Credit Card or Bank Transfer or even CryptoCapital.
That is how to go about it.
Next option,
What of if you had verified your Coinbase account?
Go to Coinbase, send the BCT from CEX to Coinbase and withdraw to fiat. Same process, same verification steps (no escape from the verification process). :lol:
Side Talk.
If you want to see the TRX ID, Copy the BTC wallet address and paste at http://blockchain.info/
Don’t miss — Binance vs Coinbase Pro vs Kraken ComparisonBinance vs Coinbase Pro vs Kraken Comparison
OVER TO YOU
So, that is literally how I go about it. I have shown you how to completely go about it.
One of the things I would say is, know the trading pair signals you are getting and also know how to manage greed and fear of losing out.
Again, it is easier to say; buy when it is red and sell when it is green. The truth is that it is not easy.
The spirit of Oliver Twist is so powerful that we naturally want more — more wins to go on a vacation in Costa Rica or New Zealand.
As I said earlier, this is not a technical part of crypto trading which involves reading the charts from morning till night.
All you need to do is use the signals to trade while you manage greed side by side.
Here, it is called sparingly adding to your coins, so, the dirty job to read charts has already been done for you.
And please, I want your best, so, do not forget my sparing winning template.
Little Win + Little Win + Little Win = Big Win.
We will push you the more, just follow us below.
CONCLUSION
I wish above things that though mayest prospereth in all that you do according to the will of Christ Jesus. So, I present you the way out-of-technical crypto trading.
Small wins and you are in for a bigger win.
I tell you, if I knew more about this, I would willingly tell you. So, that is it on this.
I wish you the best in your crypto trading journey.
And as our recommendation and support, if you want to use crypto exchanges to buy coin or trade, using our links is an advantage to us — bills will be paid.
With that said,
If you want to buy BTC, LTC, ETH, BCC & ETC, we recommend a safer exchange like Coinbase
And if you want to trade, as a beginner and advanced users, use Binance.
And lastly, for the upgraded PROs, you can use BitMEX or Bittrex
Thank you and I loved it that I did this finally.
I would be glad to hear what you’ve got to say; the missing piece and your experience so far.
So, we have shown you how to transfer your crypto coins from a local account, trade with it, and withdraw it to fiat — your local currency.
Now, tell me why you wouldn’t like to pat us on the back and share this post with just two persons?
We took out time to make this happen because you are the real deal.
Please make us a real deal also by sharing. Thanks a lot and it is a million meaning to us. Don’t forget to unfollow irrelevant Fudsters and follow us on twitter.
