Have you just discovered Binance and want to get started with it? Trading cryptocurrencies on Binance can be a great experience, and it’s one of the largest platforms for cryptocurrency trading. To do so, you must be able to trade Binance, which may be challenging when you’re just getting started with this app. Keep reading our guide on Binance Sign up to make things easier for you.
What Is Binance?
The Chinese founders of Binance, Changpeng Zhao and Yi He, founded the company in 2017. The creators both worked for the OKCoin exchange for a while before deciding it would be better to build their own platform.
As this is a crypto-to-crypto exchange platform, it can only be used for trading cryptocurrencies and virtual tokens. There are more than 500 of them available, with some of the trading options including Litecoin, Ether, Dogecoin, and, of course, Bitcoin.
Binance Coin Explained
There is also a Binance Coin, or BNB, which is owned by Binance. About $15 million were raised in 2017 from the first coin offering of BNB on the exchange. As well as BNB users getting discounts on their trading fees, people who use BNB could also get discounts.
ICOs, aka initial coin offerings, are used by many companies to raise funds. This is because this method is very easy and it allows crypto businesses to raise funds without having to go through complex processes or methods such as stocks or bonds.
Is Binance traded?
Binance accepts cryptocurrencies and tokens as payment methods. Binance requires that you first purchase bitcoins or BNBs when you join and start using it. You can trade Binance, especially if you purchase Binance Coin first. You will need to take a series of steps in order to accomplish this.
Binance Trading Guide
The following steps must be followed in order to trade on Binance:
- Open Your Account
- Fund Your Account
- Start Trading
You can learn more about each of these steps by reading on.
Open Your Account
If you want to trade with Binance, you must open an account. Click the Register button on the Binance platform’s main page. You will then be taken to the appropriate registration page, where you can enter your email address and create a password. The email address must be a valid one that you regularly use. Make sure you choose a strong password, such as a combination of numbers, letters, and symbols.
Term and Rates
You will need to prove that you are a real person and not a robot. The puzzle is not difficult to complete. An email will then be sent to your inbox. Click “Verify Email” to complete the registration process. Your Binance account is now active and you can start trading. There is one more thing you should do before trading, and that is ensuring your account is secure.
In other words, you should set up two-factor authentication. The extra layer of security ensures no one else can access your funds to spend them for their own purposes.