Buy or sell cryptocurrencies on Binance

Binance is a popular trading platform for crypto-traders where you will be able to buy (or sell) interesting cryptocurrencies in a simple and fast way.

The main advantage to trade cryptocurrencies on binance is the very low amount of transaction fees (from 0.50% to 1%).

Once your registration is done via the Next link go to the next step to start buy or sell cryptocurrencies on Binance .

Activate Google authenticator with his Smartphone

First download the Google authenticator app from your Android Smartphone or iPhone.

This application will allow you to securely connect (2FA authentication) to binance by confirming each connection on the platform via randomly generated code.

Start the application click on it and scan the QR code provided by binance to link your account binance to Google authenticator and activate the connection 2FA (in two steps).

Doing so you will need to provide the 6-digit code generated by Google authenticator that will allow you to log in to your account once your credentials entered on the login page.

Make a deposit on Binance

Once connected to your account on binance you will be able to make a first deposit in order to buy cryptocurrencies.

Click on the top right of the "make a deposit" section as in the image below:

To buy cryptocurrencies on binance know that the 3 cryptocurrencies serving as a means of Exchange are:

  • Bitcoin
  • Ethereum
  • The corner binance

This way you will need to have at least one of these cryptocurrencies in order to perform transactions on binance .

For example to perform a deposit in ethereum on binance you will click on ethereum in the selection fields as in the image below.

Copy the address provided by binance and send your ether to this address in order to make your first deposit on binance.

To learn how to send ether shipments to an address you can on this website dedicated to creating an ethereum wallet if necessary.

You will be able to view the list of current deposits on binance once the transaction has been carried out as in the image below:

You will be able to read the status of each of your transactions on binance.

Once the transfer of ether has been successfully done on binance we will be able to make a first purchase on the market place.

Buy or sell a crypto-currency

Go to the markets page and select the ethereum tab as the base crypto-currency to perform your ethereum transactions.

In the market place you can buy many cryptocurrencies but also sell against bitcoin (BTC), ether (ETH), corner binance (NBB) or tether (USDT)

You have a multitude of cryptocurrencies available on binance (several hundred available for purchase) to you therefore to inquire about each cryptocurrencies before making a purchase and therefore know what you invest before making your purchase.

In this example we are going to buy power ledger which is a token ethereum allowing renewable energy producers to sell their surplus electricity via the blockchain ethereum.

Again I chose this crypto-currency as an example, so do not consider it as a buying advice on my part!

Click on markets in "top left" then on "basic" .

Once we have selected the crypto-currency in question as in the image below, you will be able to purchase it via the purchase form.

Click on the market tab in order to buy at the current market price and thus obtain token power ledger in a quasi-immediate way.

Select the quantity you want to buy and then click the buy button to run your purchase order.

You will be almost instantly credited for little you have bought at the market price.

Then go to the portfolios page to make sure you update your balance for the purchased crypto-currency.

If you want to sell cryptocurrencies for example power ledger against ether.

All you need to do is to indicate the amount of power ledger for sale in the Sales form then click on the "sell POWR" button in order to be credited in ether for little that you sold at the market price.

Make a withdrawal to his wallet

Now that you have the crypto-currency you want to buy in your possession, best and remove it and transfer it into a wallet of which you own the private key.

On the wallets page you can see a withdrawal button (withdraw) next to the balance of the crypto-currency you want to withdraw as in the image below:

Since the power Ledger is an ethereum token we will transfer it to an ethereum wallet and more precisely to an address created via myetherwallet .

Just specify the ethereum address of your wallet created on myetherwallet,

To indicate the quantity you wish to withdraw (with a few withdrawal fees that will be taken) and then click on "withdraw" to validate .

You can view the current withdrawals list on the current withdrawals page by clicking the funds section of the main menu .

In conclusion

Binance is a quality cryptocurrencies Exchange platform to be preferred for anyone wishing to invest seriously in the field.

One of its main strengths it's the rapidity of transfer of funds depending of course on the State of the network bitcoin or ethereum but also the reduced costs (0.50% to 1%) that allow to pass orders and make withdrawals to lower cost.