As today's task set out by
@besticofinder about cryptocurrency exchanges guide, i am going to write about BINANCE. As for ranking by coinsmarketcap is concerned based on exchange's traffic, liquidity, trading volumes, and confidence in the legitimacy of trading volumes, Binance is world's number one spot trading exchange. It was founded by Changpeng Zhao in 2005 and was based in china, but has now moved out of china to japan. I like this exchange because it meets all the requirements needed to be at the top. Morever, ease of registration and trading is appreciable. Let's go.
How to register
Go to official website of binance which is binance.com , click on it and you will see user interface as below .
Click on create account option as seen above at the main page. We got to see the following new tab.
As seen above, enter email id and password. Password must contain at least one upper case alphabet and one number. Referral code is optional. If you have been referred by someone to binance than he may have given you code known as referral code. Enter that code than. Than mark a tick in the box of terms and conditions agreement. Click on create account.
Next step is to check whether account is created by a human or a robot. For that an polygonal image has to be moved to fit into its socket as above.
Next step after this is, Binance will send a six digit code to your email id. That code is valid only for 30 minutes. So check your email for the code and security tips.
screenshot taken from mail id containing code and security tips
Enter code in box and you are ready to go.
For your personnel safety it is better to undergo 2FA , however binance does not demand it from you.
How to deposit assets in Binance.
Once you log into your account after creating it. Following tab will open.
As we are learning to deposit our funds for basic trading . So click on deposit option. It will lead you to depositing options like deposit flat, deposit cryptos, buy with your credit card and P2P.
Here a good thing to note for begginers is that they can start trade with the flat. They need not necessarily have cryptos to trade. As we are here on steemit, we own a crypto by name of steem. So let's go for option 2nd which is about 'deposit crypto'. Click on deposit cryptos to see the following page.
By default there will be Bitcoin deposition adress. But we can deposit any asset. So search for the crypto (steem) , you want to deposit. Once done next page will show that both memo and adress are required to deposit steem. Click on 'i understand'.
Copy the memo and steem adress. Here you should understand that the adress and memo for different cryptos will be different. After copying both the memo and adress, let us now move to steemit wallet from where we will transfer steem to binance.
In steemit wallet, click on steem and select transfer option. Next enter the details as asked below.
Send steem to deepcrypto8 and enter memo as copied from Binance and click next.
Complete the process by signing in with the help of either of active key, owner key or master key. And that is it. Go to your binance and check your balance.
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How to withdraw funds?
Again after logging into your account. At the main page. Click on withdraw. Than select the cryptocoin to be withdrawn. Fill details as demanded below.
Enter the recipient adress ( to which you want to send) , enter memo and amount. There is minimum limit of asset which you must have to withdraw and also note transaction fee will apply.
Thanks @besticofinder for 2nd week lesson and task.
100% power up
Twitter shared.
Twitter link
https://twitter.com/Qamran7007/status/1362116099521748993?s=20