Tutorial: Beginner’s guide on using the Binance mobile App

Introduction

Hi guys, hope we are doing pretty well out there. Today I will be talking briefly about the Binance mobile application. I noticed that most of the newbies in the Steemit Crypto Academy have this problem of practicing trading activities before getting into the Academy and this is just a small tutorial on how to use the Binance E change to carry out trading activities.

I will describe the following functions below in a simple manner.
Step 1:

Once you login to your Binance account this will be the “homepage”. On the top left is where you can do your account settings such as password and username and the rest. If you scroll down you will see different coins trading

Step 2:

If you want to search for coins to trade on, you click “market” as seen below and this page will appear. You can search the coin on the search bar above that I have put in the red box.

Step 3:

You can click on “trade” to go and place your trade normally. This is a simple trade such as just buying a coin......note that this one is to buy and keep a coin until it rises again so that you can sell

If you click on the red box area as seen on the top you will be able to select the cryptocurrency you want to buy.
On the box seen at the right hand side you will fill the information such as the amount of that coin you want to buy or sell.....you sell when you already have the coin and you have made your profit from it so you sell it back to the market by filling the above box on the right hand side but making sure you are clicking on “Sell” button not the “Buy” button.
The sell button will always appear red while the buy button is green
All the above is for long term buy or sell

Step 4:

Now if you want to do daily trading t you will use the “futures” section as seen on this page. When you click on “futures” as seen from below this page, you will fill in this information just like the previous one but here it’s a little complicated

The “futures” section is where the mad money comes in but it’s also where your whole money can disappear when you make failed trades

We can see a place up there written “20x”.......there you can multiply your small money into big amount in order to make huge profits or get huge loses on failed trades.

For example if I have $10 in my account and I want to do day trading on “futures” I can click on the “20x” and select “50x”. At this point I will be trading with 50 times $10 meaning instead of my $10 I will be using $500 to trade. Of my trade gives me $100 profit, at the end of the trade I will have $110 in my account but if I make $10 loses, at the end of the trade I will have 0$ in my account

Hopefully that’s clear
The last fundamental section is the “wallet”....here you see all your assets in your account.

Step 5:

Deposit
When you click on deposit, you can choose the cryptocurrency you want someone to send to you. So you will copy the address given to you and you will send it to that person

Withdraw
If you want to sell your coins and get CFA francs you will get to a cryptocurrency vendor (there are many people hunting coins) and you will take the vendor’s BTC address if you are withdrawing BTC and you will place this address in a space provided after you must have clicked on “withdraw “ then you will put the amount and after, your password. Then confirm the information with your mobile number text and email sent to you from Binance management team.

Conclusion

That’s all for now guys but we can always ask questions in the comment section concerning the procedures on cashing out and deposits as well as how to exchange coins for another within the a exchange platform

This is just a beginner tutorial for young steemian who are still to know how to use the Binance mobile App.
Thanks for reading
Happy New Week