CRYPTO ACADEMY WEEK 2 HOMEWORK POST FOR @besticofinder : How to set up a trading account in a Cryptocurrency exchange

blaisebass1 (65)mutedBeginner[4]in SteemitCryptoAcademy • 4 years ago (edited)

Cryptocurrency exchange is a vital tool which is being used by cryptocurrency traders and cryptocurrency investors in carrying out cryptocurrency transactions (buying and/or selling of crypto). I’ll be explaining the various steps involved when creating a trading account and I’ll also be giving a rundown of how to deposit and withdraw. I’ll be using Binance as it is very popular, user friendly and secured.

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CREATING AN ACCOUNT

Binance has an application and a website, but many people prefer the app.
~Go to browser
~Type binance.com
~The binance Home Screen would open up showing you a link to download the app or you can just ignore and continue with the website
~After downloading the app, run the app and select register in order to create an account

~After selecting “Register” you’ll be given an option to create the account either with a phone number or an Email or Gmail.(i selected Gmail)
~You’ll type in your verified gmail and then a password and proceed

~ A security verification would pop up in the form of a puzzle. This is just to help prove that you are not a robot
~After the puzzle is completed, a verification code would be sent to the gmail address which you created the account with, so you’ll need to access your gmail account, open the mail sent from binance, copy the verification code and paste in the binance app where the code is needed.

~After pasting the code, you tap on submit.
Congratulations you have successfully created an account on binance.

But with the account created, you are still unable to trade because you haven’t deposited any cryptocurrency in it.

HOW TO DEPOSIT
On the Home Screen of your binance account;
~Tap on “wallet” located at the bottom right corner of the screen (i’m using an iPhone. Other devices like computers may display differently)
~you’ll see “deposit, withdraw and transfer” tap on deposit

~you’ll select the currency you wish to deposit (I selected bitcoin)
~a BTC address would come up next, that is the address you’ll send your btc to. After sending, within minutes you’ll find your crypto in your binance account and you will be ready and free to trade.

HOW TO WITHDRAW

~Tap on “wallet at the bottom right corner”
~select withdraw
~selected the currency you wish to withdraw
~you’ll be taken to a withdrawal page , you’ll input the destination address (where you want your crypto to go to), the amount you want to withdraw
~Tap on “WITHDRAW”