Nickolas Fennema Nickolas Fennema is a decentralized finance and crypto investor. He has been involved in the cryptocurrency and blockchain space since early 2017. Nickolas has a background in business, having graduated from the University of Utah with a degree in Entrepreneurship and Marketing. He is passionate about helping others learn about and get involved in decentralized finance and cryptocurrencies. Nickolas believes that these technologies will change the world as we know it, and he wants to help be part of that change.

Binance cryptocurrency exchange: a basic guide for beginners in cryptocurrencies

Cryptocurrency offers an unprecedented opportunity to create financial independence and opportunities for anyone in any country. With our beginner’s guide, you can quickly get up-and-running with the world’s largest cryptocurrency exchange – Binance. Dive into just a few simple steps such as registration, account protection, buying your first crypto asset, and trading – all designed to help unlock potential profits within minutes!

What is Binance

Binance is the world’s leading cryptocurrency exchange, providing users with a secure, user-friendly platform for digital asset trading. Founded in 2017 by Changpeng Zhao, the company has grown quickly to become one of the biggest crypto exchanges in the world. Binance provides users with a wide range of services that allow them to buy, sell, exchange, and store digital assets such as Bitcoin, Ethereum, Litecoin, XRP and more. Cryptocurrency traders have a variety of options at their fingertips, from traditional spot trades to cutting-edge P2P services. Not only can the platform be used for buying and selling digital currencies, but those looking for an extra layer of security may also find it ideal as a storage or mining solution.

Registration, account creation and protection

Registering with Binance is quick and easy! To get started, visit the official website and click on the yellow “Register” button in the upper right corner. Fill out your details to complete registration, which you can verify via email or phone number. For additional security measures such as buying cryptocurrency or trading activities, a full account verification process must be completed that includes providing personal information along with scans of documents and selfies for facial recognition; all easily done through either web or mobile ones for Android/iOS devices if no camera access is available.

To keep your Binance account secure, it’s recommended to create a strong password with upper and lower case letters as well as numbers – then change regularly. Consider taking your security up another notch by setting 2FA in the settings plus an anti-phishing code for optimal protection!

Buying cryptocurrency

With Binance, crypto enthusiasts can seamlessly purchase cryptocurrency in a variety of ways – via credit or debit cards, bank transfers and even directly from other users. For newcomers to the space looking for an easy way into buying their first digital asset, they can use the “Buy” button located at the top left corner then selecting “Credit/Debit Card” on drop-down window as payment method. Once all details are entered correctly and submitted – be it card information or P2P trade requirements – purchases will go through quickly with no fuss!

Trading cryptocurrency

Are you ready to get started trading cryptocurrency? With just a few clicks, you can enter the world of cryptotrading. Start by clicking on “Trading” in your top panel and then select “Conversion” from the drop-down menu. Here, it’s easy to choose which crypto pairings are right for you – simply input your desired coin and quantity into the top field, followed by selecting either another type of cryptocoin or fiat currency below that. After confirming these options via the ‘Preview’ button, all relevant details surrounding your transaction will be made available – including market price (the default setting), as well as commission fees associated with each trade.

Create limit orders for buying or selling an asset in your desired price range. Unlike a market order, which transacts at the current market rate, you can select to buy or sell at any given point above that with a user-defined limit – thus granting more control over trading decisions. 

NFT

Have you heard about the new and exciting way to join in on the NFT craze? Binance has now launched their very own platform, giving users an opportunity to purchase or trade Non-Fungible Tokens. You can also explore exclusive collections created by celebrities as well as browse lists of popular tokens around! Plus, why not try your luck at free giveaways; a chance for rare pieces could be yours if Lady Luck smiles down upon you.

Final Thought

Binance offers a comprehensive and simplified platform for trading cryptocurrency. With its user-friendly menu and plethora of features, users from all levels can access this powerful asset class with the confidence to make informed decisions. However, simply using Binance is just scratching the surface: Cryptocurrency trading requires knowledge, experience and ongoing practice in order to maximize success – that’s why we have created guides on our website as well as 280 materials about cryptocurrencies collected within Binance Academy so you can be assured your learning journey begins here! If there are topics which spark even more interest then our team will work closely with experts on site to provide advanced guidance too.