Binance User Guide – How to Buy Bitcoin and Altcoins on Binance?
Contents
- Binance Exchange Registration Process
- Binance Account Confirmation Process
- How to Add Binance Turkish Lira Transferred And Withdrawn?
- Crypto Deposits and Withdrawals to Binance
- How to Buy and Sell Cryptocurrency on Binance Exchange?
- What is Binance Stop-Loss? , How Can I Use This Feature?
- Is Binance Trustworthy, How Can I Protect My Account?
Cryptocurrencies, like all other commodities, are priced in US dollars (USD). In other words, its value in the whole world is considered in USD basis.. For this reason, all trend formations, support resistance points and all kinds of analysis are determined on the basis of dollars.
Even though Turkish investors are putting money into the market with Turkish lira, it is extremely important to look at the capital in USD and to trade in USD parities. it is important. Since the importance of the volumes in USD parity is a big factor here, it is very important to trade in a stock exchange that is large and used by the whole world
In this article, we will detail the use of Binance exchange, one of the world’s largest crypto currency exchanges, which also makes serious investments in Turkey. we will deal with it somehow…
Binance Exchange Registration Procedures
First of all, we open an account on Binance exchange. If you register via this link https://www.binance.com/tr/register?ref=U0ZC7DB1 or if you register by typing the code U0ZC7DB1 in the reference section while registering, you can get a 10% discount on lifetime commissions.. However, if you do not write this code when registering for the first time, the right to benefit from the discount later expires.. That’s why it’s extremely important to use it while registering.
At this stage, we say “Create an Account” by typing in your e-mail and password (if you click on the link above, the reference ID will come in written form and you will receive a 10% discount).. (Figure 1)
After clicking the “Create Account” button, a code will be sent to our e-mail address. We write this code in the part on the screen. (Figure 2)
After doing this step, we come to Binance user panel by clicking “Go to Clipboard” from the top right.
You will see the picture in Figure 3. This step is to ensure that even if the password of the account is captured by others, they cannot enter your account without SMS approval or Google Security approval.. If you do not use these verification methods, the results can be bad.. In order to have the highest level of security, we recommend that you use the Google method if you are knowledgeable, or the SMS verification method if you have less knowledge and no previous experience.. Please make sure to use one of the 2 security methods at this stage and contribute to the protection of your account close to 100%. We enter the code on the screen and complete the 2-step verification factor.
After completing this step, we have successfully opened an account on the Binance exchange.
The system automatically identifies you as an “Unconfirmed Account” and many your transaction is limited. We need to have the account verified to make transactions unrestricted and more secure.. Just as the bank requests some information from the customer when an account is opened in a bank, the Binance exchange requests some information in this way.. In line with this information, it is aimed to completely prevent illegal transactions and provide a safer environment.
How is the Binance exchange account confirmation process done? If you say so, let’s continue the article by answering this immediately…
Binance Account Confirmation Transactions
https://www.binance.com/tr/my/dashboard after logging in to this link, ” Verify” option will appear. (Figure 4)
Then click on the “Verify” section on the right side of the “Personal Information” heading. (Figure 5)
We continue by saying “Start” in the section that appears. (Figure 6)
In the next section, fill in the sections such as name, surname and address according to you.. (Figure 7)
Choose the “Start” option from the screen that appears after continuing. (Figure 8)
We have to choose one of 3 options to verify. Passport, driver’s license or ID card. We will explain the “Identity card” option.. We select the “Identity card” option. (Figure 9=
The system also allows taking pictures instantly, but assuming you have taken the back and front of your ID beforehand, we click on the “Upload File” option.. * It is extremely important that you draw the front and back of your ID legibly.. (Figure 10)
As a first step, you will be asked to upload a picture of the front of your ID (Figure 11) and as a second step, you will be asked to upload a picture of the back of your ID (Figure 12)
Your ID photos will be front and back, respectively After uploading as the system asks us to take a Selfie. We’re visibly taking selfies and moving forward. (Figure 13)
After completing these steps, a screen like the one below appears.. (Fig. 14)
Here it asks us to pull it to our mobile phone and install the Binance app. We install the Binance application on the phone. Click Here for IOS – Click Here for Android
After installing the application and logging in, we click on the profile photo in the upper left to perform the last step
That’s all the steps, sometimes it can take a few hours. If you complete these steps, your account will be approved, and if you are not logged in, the phrase “Personal” will appear.
How to Transfer and Withdraw Turkish Lira to Binance?
Details are explained in the video narration above.. You can find the written version of the explanation below:
*Your Papara and Binance accounts must be approved before starting these transactions.
After entering the Binance site, we click on the “Deposit TRY” section under “Buy Crypto” in the menu.. We select the Papara Account balance option, write the amount we want to deposit and proceed.. Then
For example, we write “100” and we see that Binance receives a commission of 1 percent.
Then we continue by typing our TR ID number on the page where Binance TC ID number is requested.
The system automatically redirects the user to the Papara.com page. Then, if we have a Papara account, we log in, if not, we open a new account.. If there is no money in our Papara account, you should choose any payment method as shown in the picture and load the money into the Papara account.
If we have an amount in our Papara account above the amount we have written to deposit on the Binance exchange, the payment to Binance We perform the last step with the “Make Payment” button.
Then we return to the system Binance page and we receive a confirmation message.
Deposit funds from the menu Wallet -> You can see it in the Deposit and Withdrawal History -> fiat money section.
When we want to withdraw Turkish lira, we go to Wallet -> Spot Wallet and enter the “Withdrawal” section from the menu that opens on the left.. After selecting TRY in the fiat money section, we write the amount and our Papara Wallet number.
Crypto Deposit and Withdrawal to Binance
- YOUR WALLET ADDRESS GO TO THIS LINK TO SEE AND WITHDRAW MONEY! Click on Withdraw or Deposit from the menu on the left and select from the list which cryptocurrency you want to transfer or withdraw.. You can transfer cryptocurrencies to Binance from other cryptocurrency exchanges using this number.
- If you click the “Withdraw” button, Binance exchange will ask for the wallet number of the other party to send to another exchange.
- Then enter the amount and You can transfer and withdraw.
- Transfer times may vary depending on the network density.
How to Buy and Sell Cryptocurrency on Binance Exchange?
On Binance Exchange You can watch the current video narration on how to do it below:
You can read it for written explanation:
If you have completed the transfer, the next process will be easier. Whether you want to buy Bitcoin or any crypto currency, it doesn’t matter, all cryptocurrencies are the same screen.. You are a member of one of the world’s most reliable and most popular cryptocurrency exchanges, and now there is no obstacle to investing in the cryptocurrency you want.
The “AL-” right next to the Binance logo. You can use one of the Basic or Advanced options by hovering over the text “SAT”.
If you are not experienced and you are using the Binance exchange for the first time, you can trade more easily by choosing the first BASIC option that we actively use.. No price differentials or commission-like differences between the two options. There are only differences in graphics and data, these differences are of no importance in trading.
No worries… When you see this screen, it may seem complicated, but this panel is extremely easy to use.. If you choose BASIC but this screen appears in English for you, the same page will be opened and only the fields will appear in a foreign language.. If you want, you can change the language by choosing Turkish from the top tab.
In the “buy and sell” section on this page, you can get better information by examining the image below to choose which cryptocurrency you want to sell or buy;
Although this image has been prepared to describe all the steps to you, you can also buy or sell by looking at the details in writing.
- Here’s to Limit, Market There will be three different buy or sell order types as and Stop-Limit.
Limit: You set the buying and selling numbers yourself.
Market: You instantly buy or sell at the current price.
Stop-Limit: You buy or sell based on a condition. (We will explain this in more detail in the next section.) - When you enter the basic page, select the main cryptocurrency you will use from the section indicated by the arrow above (whichever you have in your account and which one you want to use). For example, you have Bitcoin in your account and you want to buy Litecoin.. In this case, you need to find the BTC / LTC pair.. So you always have to choose the pair of cryptocurrencies you have and want to buy.. (Every crypto currency usually has a BTC equivalent.. In other words, if you have BTC in your hand, you can buy all cryptocurrencies in the system and convert them back to BTC whenever you want.)
- You can use the Green part to buy LTC with the BTCs you have, and the Pink part to convert the LTCs to BTC. .
- Limit part determines the price you want to buy or sell.. You may get confused here. You may know the Litecoin price, for example, as $50, but the price here is 0.007828 because it represents the price in BTC.. This is so because it is a BTC / LTC pair.
- Quantity indicates how many LTC you will buy or sell. By using parts such as 25% or 100%, how many LTC you will buy with your BTC automatically comes out there.. After determining the amount, simply click on the buy or sell buttons.
- If you have entered a buy or sell order different from the market price at that time, this order will be displayed in the “Open Bids” section until it is fulfilled.. If not, you can cancel at any time.. You can see it in the “24-Hour Purchase History” section if it has happened.
You pay a certain percentage of commission to the Binance exchange for each trading transaction.. For example, if you bought 20 LTC, it will be credited to your account as 19.99.. (The numbers are given as an example.)
*If you have some BNB (Binance Coin) in your account and you select the “Use BNB for expenses (25% discount)” option from the profile section, all commissions will be taken as 25 percent less and BNB deducted from your asset.
Current commission rates can be found at https://www.binance.com/en/fee/schedule.
What is Binance Stop-Loss, How Can I Use This Feature?
Stop-Loss feature is offered as a loss recovery measure for experienced traders and many cryptocurrency exchanges have similar options. This feature gives you the option to buy and sell in the price range you specify, and this option allows you to sell with the least loss or buy with the highest profit in an extremely risk-free way for you.
Let’s explain why it is used and should be used with the following example;
For example, you slept when the Bitcoin price was 6000 dollars.. When you woke up in the morning, you saw that the BTC price dropped to $ 5000 and was in a downward trend.. Here, while you are asleep or when you are not at your investment, “Sell my BTCs at Y price when it drops to X price.” Conditional transactions in the style are called Stop-Loss orders.
If you had used Stop-Loss and had given an instruction, “When BTC is at $ 5800, enter a sell order at $ 5790”, you would have been affected by the loss at the lowest level.
To give details on how to use it;
Stop: We enter the price at which the order will be triggered and activated.
Limit: Here is Stop If the condition you wrote in the section is met, you write at what price you want to sell the asset in your hand.
Quantity expresses how much of the asset you will be able to enter.
To give an example again over BTC / USDT if necessary, if STOP: 6000 – Limit: 5990 is entered. This means that when the Bitcoin price drops below 6000, sell the amount I determined at the price of 5990.
Although the phrase “Use the “Stop-Loss” order, which we frequently mention in each of our articles, may cause loss in some cases, it mostly protects you from losses in possible serious decreases. It will protect you and it is strongly recommended that you use it by experts.. However, it is recommended to experiment with small amounts before placing this order in large quantities.
Is Binance Trustworthy, How Can I Protect My Account?
Binance exchange is a highly reliable cryptocurrency exchange.. Since you are responsible for all your information during the use of the exchange, you have to take all the security measures for your account yourself.. The reason for this is the clear and unequivocal warning of the cryptocurrency exchange that they will not cover your losses unless they are their own. and it will never be allowed to happen. The reason for this is that although banks have to legally insure some of your money in banking transactions in the world, unfortunately this is not the case in crypto currency exchanges and on the contrary, this situation is set to be completely at your own risk.. Only in case of a possible cyber attack, if all the investor accounts in the stock market are affected or only your account is affected, then your loss can be covered.*
Precautions you should take to protect yourself and your cryptocurrencies;
- Strictly use 2-factor (2FA) authentication.
- Check if the site has SSL. (If you don’t see a green lock at the top of the browser where the site’s address is written (next to the site name), leave the site immediately and try again by searching Google from a different browser.
- If the green lock appears and the site address is full If it is ”binance.com’, there should not be even 1 letter more and 100% the same domain name should be written, you can continue to log in.
- Never use server, VPN and similar internet networks in common areas while logging into your account.. If you have used it, change the password of the cryptocurrency exchange immediately.
- Never share your e-mail address and password with others, and STRONG passwords with at least 8 letters, 1 number, 1 large digit and 1 character-symbol that do not include your own favorite things or your own name. Take care to create it.
- Protect your e-mail address with 2-step verification.
- Do not give your mobile phone and computer to other people, if you have given it away, be with you and do not allow application downloads and site information to be saved.
- Do not use the “Google password saving” feature and similar features of Binance exchange and many other financial sites.
For all your questions and problems, you can use the comment section below.