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AMP TOKEN REVIEW AND LONG-TERM OUTLOOK

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AMP TOKEN REVIEW AND LONG-TERM OUTLOOK

In decentralized finance, AMP is a digital currency based on Ethereum used as collateral for safe transactions and the risk of decentralized asset transfer (DeFi). The goal is to lower the cost of interchange between counterparties in payment transactions while also reducing the chances of fraud. Regardless of the consensus process, users may bet on Tokens AMP to ensure any financial exchange, including digital payments, currency exchange, loan payments, and property sales.

Developers may utilize AMP’s open-source platform to create apps that leverage collateral partitions and collateral managers to protect transactions and simplify borrowing by locking and unlocking AMP. The project “introduces the notion of predetermined partitioning methods, which can allow for unique features like collateral templates, via which tokens can be staked out without ever leaving their originating address,” according to the AMP website.

Balances are subdivided into Ethereum addresses and designated as collateral using the partition structure. The authorization to operate with specific partitions is granted to collateral managers. Once staked into a partition, the AMP token may be utilized in pools to decentralize asset transfers and lower risk. Once the transfer is complete, it provides a simple network reward system with built-in incentives like distributions and capitalization.

AMP has a 100 billion token fixed non-inflationary inventory, which increases in value due to its adoption. Users benefit from more decentralization and liquidity when new projects include AMP, minimizing volatility and inflation while also improving collateral quality.

Protecting Flexa Network Using AMP

Flexa, a commercial payment network, and Ethereum ConsenSys, a blockchain development startup, collaborated on AMP. The token, which replaced Flexacoin in September 2020, was created to be utilized by projects other than Flexa.

Flexa is meant to make accepting digital assets as a form of payment easier for retailers. It has native connectivity with current point-of-sale (POS) systems and online sales platforms, allowing businesses to accept digital payments while providing a traditional checkout experience to their consumers. On Flexa, AMP is the assurance that enables fast payments. As of June 7, people worldwide have bet over $1,2 billion on AMP to sustain the Flexa Network. Currently, AMP is now utilized as collateral for more than 25 digital assets. Pantera Capital, an American cryptocurrency fund, is one of AMP’s investors.

AMP was listed on CREAM Finance in February, allowing holders to earn income by betting on the token. The CREAM community voted in April to enable AMP to guarantee loans up to 45 per cent of its value. SushiSwap’s Automated Market Maker (AMM) decentralized FX may leverage AMP users to create liquidity. Since April, they’ve been able to lend and borrow through SushiSwap’s decentralized lending and margin trading platform, Kashi.

AMP was added to Yield, a decentralized, fixed-rate lending programme that offers both loans and incentive loans, on May 10. Furthermore, AMP introduced its first Upfront Flashstaking (UFO) offer on May 12, allowing customers to wager on the Flash cryptocurrency for a certain amount of time and receive AMP right away. The user gets their entire Flash wager after the wagering time.

Current Market Status of AMP

AMP is still one of the most aggressive cryptocurrencies on the market today. The AMP price is $0.0668, according to CoinMarketCap. In the previous 24 hours, AMP achieved a rate drop of about -5.4 per cent.

In terms of market capitalization, AMP has a market capitalization of about $2,823,812,633 and a 24-hour trading volume of over $177,377,675. As a result, the cryptocurrency is one of CoinMarketCap’s top 50 cryptocurrencies. With all of these accomplishments, we can conclude that AMP has progressed significantly in developing its technology throughout the years.

AMP TOKEN REVIEW AND LONG-TERM OUTLOOK

The Ascending Channel Trend pattern may be seen in the chart above, which is placed on a daily period. The price action in an upward direction along a sloping parallel line is known as a descending channel. The chart also illustrates the price pattern’s Higher Highs and Higher Lows. Furthermore, this pattern is bullish in the short run.

As illustrated, AMP shifted from a bearish to a bullish trend at the start of this month. This is due to the tremendous amount of trading that occurred during that period.

AMP TOKEN REVIEW AND LONG-TERM OUTLOOK

In addition, the Relative Strength Index (RSI) is 58.24, indicating that AMP is virtually oversold. As a result, there’s a chance that prices will reverse at any point.

Look for AMP’s Simple Moving Average (SMA) and Exponential Moving Average (EMA) at the bottom.

AMP TOKEN REVIEW AND LONG-TERM OUTLOOK

Price Prediction for 2021

AMP must break past the retracement level at $0.086 in the short-to-medium term scenario for the AMP price forecast 2021. It will need to build further support at the Fib level of $0.075 to accomplish so. Bears may take the upper hand and pull AMP to their region if this does not happen.

In the meanwhile, the long-term AMP price forecast for 2021 is optimistic. Furthermore, it has a good chance of setting a new all-time high this year. However, it will only succeed if it overcomes several psychological barriers.

AMP TOKEN REVIEW AND LONG-TERM OUTLOOK

AMP Price Prediction for 2022-2025

AMP will hit $0.095 by the end of 2022 if the current positive trend continues. Furthermore, the first half of 2022 will see a rapid increase, reaching $0.12. After that, the climb will slow down, but no significant drops are predicted. With planned partnerships and innovations, achieving $0.095 is a bit of a stretch in pricing, but it’s undoubtedly doable. Suppose the market continues with its bullish trend by 2023. In that case, AMP can hit $0.15, and with the latest developments and enhancements to the AMP architecture, it can even go up to $0.24 by 2024.

Furthermore, AMP costs might rise to $0.35 in the next four years. However, AMP may not have a tough time hitting this level if other medium, short-term, and long-term price objectives for purchase or sell orders can be discovered. As a result, AMP has a good chance of hitting a new ATH in the next five years, according to the forecast.

Conclusion

In 2021, AMP has a bright future ahead of it. We may see AMP reach new heights due to ongoing changes inside the AMP ecosystem and the broader crypto market. In addition, the optimistic AMP price forecast for 2021 is $0.086. As previously said, if investors feel that AMP, along with significant cryptocurrencies such as Bitcoin and Ethereum, is a viable investment in 2021, it may even hit a new ATH. Lastly, it has the potential to hit $0.1 by th

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12 Popular Candlestick Patterns Used in Technical Analysis

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12 Popular Candlestick Patterns Used in Technical Analysis

Introduction

Candlestick charts are one of the most commonly used technical tools to analyze price patterns. They have been used by traders and investors for centuries to find patterns that may indicate where the price is headed. This article will cover some of the most well-known candlestick patterns with illustrated examples.

12 Popular Candlestick Patterns Used in Technical Analysis

How to use candlestick patterns

There are countless candlestick patterns that traders can use to identify areas of interest on a chart. These can be used for day trading, swing trading, and even longer-term position trading. While some candlestick patterns may provide insights into the balance between buyers and sellers, others may indicate a reversal, continuation, or indecision.

Its important to note that candlestick patterns arent necessarily a buy or sell signal by themselves. They are instead a way to look at market structure and a potential indication of an upcoming opportunity. As such, it is always useful to look at patterns in context. This can be the context of the technical pattern on the chart, but also the broadermarket environment and other factors.

In short, like any other market analysis tool, candlestick patterns are most useful when used in combination with other techniques. These may include theWyckoff Method, theElliott Wave Theory and theDow Theory. It can also includetechnical analysis (TA) indicators, such asTrend Lines,Moving Averages, theRelative Strength Index (RSI),Stochastic RSI,Bollinger Bands,Ichimoku Clouds,Parabolic SAR, or theMACD.

Bullish reversal patterns

Hammer

A candlestick with a long lowerwick at the bottom of a downtrend, where the lower wick is at least twice the size of the body.

A hammer shows that even though the selling pressure was high, the bulls drove the price back up close to the open. A hammer can be either red or green, but green hammers may indicate a stronger bull reaction.

12 Popular Candlestick Patterns Used in Technical Analysis

Inverted hammer

Also called the inverse hammer, its just like a hammer, but with a long wick above the body rather than below. Similar to a hammer, the upper wick should be at least twice the size of the body.

An inverted hammer occurs at the bottom of a downtrend and may indicate a potential reversal upward. The upper wick shows that price stopped its continued downward movement, even though the sellers eventually managed to drive it down near the open. As such, the inverted hammer may suggest that buyers soon might gain control of the market.

12 Popular Candlestick Patterns Used in Technical Analysis

Three white soldiers

The three white soldiers pattern consists of three consecutive green candlesticks that all open within the previous candles body, and close at a level exceeding the previous candles high.

Ideally, these candlesticks shouldnt have long lower wicks, indicating that continuous buying pressure is driving the price up. The size of the candles and the length of the wicks can be used to judge the chances of continuation or a possible retracement.

12 Popular Candlestick Patterns Used in Technical Analysis

Bullish harami

A bullish harami is a long red candle followed by a smaller green candle thats entirely contained within the body of the previous candle.

The bullish harami can unfold over two or more days, and its a pattern indicating that selling momentum is slowing down and might be coming to an end.

12 Popular Candlestick Patterns Used in Technical Analysis

Bearish reversal patterns

Hanging man

The hanging man is the bearish equivalent of a hammer. It typically forms at the end of an uptrend with a small body and a long lower wick.

The lower wick indicates that there was a large sell-off, but bulls managed to take back control and drive the price up. Keeping that in mind, after a prolonged uptrend, the sell-off may act as a warning that the bulls might soon be losing control of the market.

12 Popular Candlestick Patterns Used in Technical Analysis

Shooting star

The shooting star is made of a candlestick with a long upper wick, little or no lower wick, and a small body, ideally near the low. The shooting star is a similar shape as the inverted hammer but is formed at the end of an uptrend.

It indicates that the market reached a high, but then sellers took control and drove the price back down. Some traders prefer to wait for the next few candlesticks to unfold for confirmation of the pattern.

12 Popular Candlestick Patterns Used in Technical Analysis

Three black crows

The three black crows are made of three consecutive red candlesticks that open within the previous candles body, and close at a level below the previous candles low.

The bearish equivalent of three white soldiers. Ideally, these candlesticks shouldnt have long higher wicks, indicating continuous selling pressure driving the price down. The size of the candles and the length of the wicks can be used to judge the chances of continuation.

12 Popular Candlestick Patterns Used in Technical Analysis

Bearish harami

The bearish harami is a long green candle followed by a small red candle with a body thats entirely contained within the body of the previous candle.

The bearish harami can unfold over two or more days, appears at the end of an uptrend, and may indicate that buying pressure is decreasing.

12 Popular Candlestick Patterns Used in Technical Analysis

Dark cloud cover

The dark cloud cover pattern consists of a red candle that opens above the close of the previous green candle but then closes below the midpoint of that candle.

It can often be accompanied by highvolume, indicating that momentum might be shifting from the upside to the downside. Traders might wait for a third red candle for confirmation of the pattern.

12 Popular Candlestick Patterns Used in Technical Analysis

Continuation patterns

Rising three methods

This pattern occurs in an uptrend, where three consecutive red candles with small bodies are followed by the continuation of the uptrend. Ideally, the red candles shouldnt breach the range of the preceding candlestick.

The continuation is confirmed with a green candle with a large body, indicating that bulls are back in control of the trends direction.

12 Popular Candlestick Patterns Used in Technical Analysis

Falling three methods

The inverse of rising three methods, indicating the continuation of a downtrend instead.

12 Popular Candlestick Patterns Used in Technical Analysis

Doji

A Doji forms when the open and the close are the same (or very close to each other). The price can move above and below the open but eventually closes at or near the open. As such, a Doji may indicate an indecision point between buying and selling forces. Still, the interpretation of a Doji is highly dependent on context.

Depending on where the line of the open/close falls, a Doji can be described as:

Gravestone Doji Bearish reversal candle with a long upper wick and the open/close near the low.

12 Popular Candlestick Patterns Used in Technical Analysis

Long-legged Doji Indecisive candle with both a lower and upper wick, and the open/close near the midpoint.

12 Popular Candlestick Patterns Used in Technical Analysis

Dragonfly Doji Either bullish or bearish candle (depending on context) with a long lower wick and the open/close near the high.

12 Popular Candlestick Patterns Used in Technical Analysis

According to the original definition of the Doji, the open and close should be exactly the same. But, what if the open and close arent the same but are instead very close to each other? Thats called a spinning top. However, since cryptocurrency markets can be very volatile, an exact Doji is rare. As such, the spinning top is often used interchangeably with the Doji.

Candlestick patterns based on price gaps

There are many candlestick patterns that use price gaps. A price gap is formed when a financial asset opens above or below its previous closing price, which creates a gap between the two candlesticks. Since cryptocurrency markets trade round the clock, patterns based on these types of price gaps are not present. Even so, price gaps can still occur inilliquid markets. However, since they happen mainly because of low liquidity and highbid-ask spreads, they might not be useful as actionable patterns.

Closing thoughts

Candlestick patterns are essential for any trader to at least be familiar with, even if they dont directly incorporate them into their trading strategy.

While they can be undoubtedly useful to analyze the markets, its important to remember that they arent based on any scientific principles or laws. They instead convey and visualize the buying and selling forces that ultimately drive the markets.

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What is Binance? How to use Binance exchange for newbies (2022)

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What is Binance? How to use Binance exchange for newbies (2022)

What is Binance?

Binance is the world’s largest centralized cryptocurrency exchange founded in Shanghai, China in 2017 by Changpeng Zhao – CEO of Beiji Technology. Binance is a very large volume exchange, according to 2020 statistics, Binance has recorded a record with a 24-hour trading volume of $15 billion .

The transaction fee on Binance exchange ranges from 0.012% – 0.1% depending on the limit, the more the transaction volume, the cheaper the fee, I will explain more clearly in the next sections.

Currently, Binance exchange supports trading for more than 700 trading pairs on the platform, of which BNB is the native coin issued by Binance. Users can directly pay fiat money (Fiat) to buy Coins right on the exchange through P2P trading.

Of all the cryptocurrency exchanges, Binance can be seen as having the most diverse ecosystem. Includes: spot trading, leveraged trading (Margin), futures contracts (Futures), options contracts (Options), P2P peer-to-peer trading, Binance Launchpoodle, Binance Launchpad and more to come this is Binance NFT.

What is Binance? How to use Binance exchange for newbies (2022)

Review of Binance exchange

Advantages

Some advantages of Binance exchange are:

  • There are more than 1000 trading pairs available: This is a huge number. Almost the Altcoins that you want to trade are available on the Binance exchange.
  • Multi-language support: In particular, Vietnamese is one of the earliest languages ​​developed by the exchange. Besides, Binance has a team and a Telegram channel dedicated to supporting Vietnamese. Make it easy to use Binance exchange, no language barriers.
  • Up to 40% commission bonus program: In fact, Binance is the pioneer exchange that rewards refs for you. Thanks to that, you will have a fairly large passive income if you invite many other people to join the floor.
  • Without KYC, you can withdraw up to 2 BTC/day: Unlike other exchanges that require KYC to withdraw money (like Poloniex ,…), you can use Binance for small transactions. without providing too much personal information.
  • Vast cryptocurrency ecosystem.
  • User Asset Protection Fund (referred to as SAFU): 10% of trading fees on the exchange will be transferred to this fund to insure your assets.
  • There are many types of transactions for you to skin in the game: Trade spot, margin, OTC or P2P on Binance.

Defect

Because it is a popular cryptocurrency exchange in the world, Binance is also a very high target of hacking attacks.

In 2018, the Binance exchange had some unfortunate incidents. Specifically, in July, an anonymous coin had a transaction of up to 96 BTC. This case is expected to be hacked by hackers or possibly because Binance itself took advantage of the price.

Binance’s Vast Ecosystem

If before, Binance was merely a cryptocurrency exchange, now Binance’s ecosystem has been expanded, including:

  • Binance CEX : A centralized exchange of crypto- assets and Blockchain, with many trading forms such as Binance Margin, Future, P2P…
  • Binance Institutional : Allows VIP traders to access professional OTC trading and exchange services. Binance’s experienced team works closely with many other market participants.
  • Binance DEX : Decentralized Exchange.
  • Binance Research : Specialized in market analysis and reporting.
  • Binance Academy : Provides all knowledge about Crypto and Blockchain market.
  • Binance Charity : Charity Foundation.
  • Binance Labs : Investment Fund.
  • Binance Broker : The brokerage program includes: Widget broker, API broker, and exchange broker.
  • Binance Cloud : Helping businesses build their own exchange.
  • Binance Launchpad : Platform for issuing tokens.
  • Trust Wallet : Binance’s official crypto wallet.

To learn more about the above products of Binance, visit the link below: https://www.binance.com/en

How to Register at Binance

How to Register with Mobile Number

1. Go to Binance.com and click [Register].

What is Binance? How to use Binance exchange for newbies (2022)

2. Click [Mobile] and enter the mobile number and password for your account, and the Referral ID (if any). Read and agree to the Terms of Use and click [Create Account].

What is Binance? How to use Binance exchange for newbies (2022)

Note:

For account safety, the password should consist of at least 8 characters, including 1 uppercase character and 1 number.

If you’ve been referred to register on Binance by a friend, make sure to fill in the Referral ID (optional).

3. Complete the Security Verification.

What is Binance? How to use Binance exchange for newbies (2022)

4. The system will send an SMS verification code to your mobile phone. Please enter the 6-digit verification code within 30 minutes. If you can’t receive it, click [Resend], or click [Please try voice verification] to use voice verification instead.

What is Binance? How to use Binance exchange for newbies (2022)

5. Congratulations, you have successfully registered on Binance.

What is Binance? How to use Binance exchange for newbies (2022)

6. To enhance your account security, click [Go to Dashboard] to enable two-factor authentication (2FA), including phone verification and Google verification.

What is Binance? How to use Binance exchange for newbies (2022)

How to Register by Email

1. Go to Binance.com and click [Register].

What is Binance? How to use Binance exchange for newbies (2022)

2. On the registration page, enter your email address, create a password for your account, and enter the Referral ID (if any). Then, read and agree to the Terms of Service and click [Create Account].

What is Binance? How to use Binance exchange for newbies (2022)

Note:

Your password must be a combination of numbers and letters. It should contain at least 8 characters, one UPPER CASE letter, and one number.

If you’ve been referred to register on Binance by a friend, make sure to fill in the Referral ID (optional).

3. Complete the Security Verification.

What is Binance? How to use Binance exchange for newbies (2022)

4. The system will send a verification code to your email. Please enter the verification code within 30 minutes. If you can’t find the email in your inbox, please check your other mail folders as well, or click [Resend Email] to resend.

What is Binance? How to use Binance exchange for newbies (2022)

5. Congratulations, you have successfully registered on Binance.

What is Binance? How to use Binance exchange for newbies (2022)

6. To enhance your account security, click [Go to Dashboard] to enable two-factor authentication (2FA), including phone verification and Google verification.

What is Binance? How to use Binance exchange for newbies (2022)

How to Register on Binance App

1. Open the Binance App and tap [Log In/Register].

What is Binance? How to use Binance exchange for newbies (2022)

2. Tap [Register]. Enter the email address and password you’ll use for your account, and the Referral ID (if any). Check the box next to [I Understand Binance’s Terms of Use] and tap [-].

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

Note:

Your password must contain at least 8 characters, including one uppercase letter and one number.

If you’ve been referred to register on Binance by a friend, make sure to fill in the Referral ID (optional).

3. Drag the slider to complete the Security Verification puzzle.

What is Binance? How to use Binance exchange for newbies (2022)

4. You will receive a verification email in your inbox. Please enter the verification code within 10 minutes. If you can’t find the email, click [Send Code] to get another email.

What is Binance? How to use Binance exchange for newbies (2022)

Note:

For your own account security, we highly recommend you to enable two-factor authentication (2FA). Binance supports both Google and SMS 2FA.

*Before you start P2P trading, you need to complete Identity Verification and 2FA authentication first.

How to Verify Account in Binance

Where can I get my account verified?

You can access the Identity Verification from [User Center] – [Identification] or access it directly from here. You can check your current verification level on the page, which determines the trading limit of your Binance account. To increase your limit, please complete the respective Identity Verification level.

What is Binance? How to use Binance exchange for newbies (2022)

How to complete Identity Verification? A step-by-step guide

1. Log in to your Binance account and click [User Center] – [Identification].

For new users, you may click [Get verified] on the homepage directly.

What is Binance? How to use Binance exchange for newbies (2022)

2. Here you can see [Verified], [Verified Plus], and [Enterprise Verification] and their respective deposit and withdrawal limits. The limits vary for different countries. You can change your country by clicking the button next to [Residential Country/Region].

What is Binance? How to use Binance exchange for newbies (2022)

3. After that, click [Start Now] to verify your account.

What is Binance? How to use Binance exchange for newbies (2022)

4. Select your country of residence. Please ensure that your country of residence is consistent with your ID documents.

What is Binance? How to use Binance exchange for newbies (2022)

You will then see the list of verification requirements for your specific country/region. Click [Continue].

What is Binance? How to use Binance exchange for newbies (2022)

5. Enter your personal information and click [Continue].

Please make sure that all the information entered is consistent with your ID documents. You won’t be able to change it once confirmed.

What is Binance? How to use Binance exchange for newbies (2022)

6. Next, you will need to upload pictures of your ID documents. Please choose the type of ID and the country your documents were issued. Most users can choose to verify with a passport, ID card, or driver’s license. Please refer to the respective options offered for your country.

What is Binance? How to use Binance exchange for newbies (2022)

7. Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.

For example, if you are using an ID card, you have to take photos of the front and back of your ID card.

What is Binance? How to use Binance exchange for newbies (2022)

8. After uploading the document photos, the system will ask for a selfie. Click [Upload File] to upload an existing photo from your computer.

What is Binance? How to use Binance exchange for newbies (2022)

9. After that, the system will ask you to complete face verification. Click [Continue] to finish face verification on your computer. Please do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.

What is Binance? How to use Binance exchange for newbies (2022)

Alternatively, you can move your mouse to the QR code on the bottom right to complete the verification on the Binance App instead. Scan the QR code via your App to finish the face verification process.

What is Binance? How to use Binance exchange for newbies (2022)

10. After completing the process, please wait patiently. Binance will review your data in a timely manner. Once your application has been verified, we will send you an email notification.

  • Please enter your basic information and complete photo verification within 15 minutes. Do not refresh your browser during the process.
  • You may attempt to complete the Identity Verification process up to 10 times per day. If your application has been denied 10 times within 24 hours, please wait 24 hours to try again.

How to Deposit at Binance

How to Deposit Crypto

Let’s use 10 USDT to illustrate how to transfer crypto from an external platform into your Binance account.

1. Log into your Binance account and go to your wallet overview page.

What is Binance? How to use Binance exchange for newbies (2022)

2. Click on [Deposit] at the top right side of your screen.

What is Binance? How to use Binance exchange for newbies (2022)

3. Select [Deposit Crypto].

What is Binance? How to use Binance exchange for newbies (2022)

4. Select the cryptocurrency you want to deposit. In this example, we will deposit USDT.

What is Binance? How to use Binance exchange for newbies (2022)

5. Next, choose the deposit network. Make sure the selected network corresponds with the network of the platform you are withdrawing funds from.

Be careful! If you select the wrong network, you will lose your funds.

Summary of network selection:

  • BEP2 relates to the Binance Chain.
  • BEP20 relates to the Binance Smart Chain (BSC).
  • ERC20 relates to the Ethereum network.
  • OMNI refers to the OmniLayer that runs on the Bitcoin network.
  • TRC20 relates to the TRON network.
  • BTC refers to the Bitcoin network.
  • BTC (SegWit) refers to Native Segwit (bech32), and the address starts with “bc1”. Users are allowed to withdraw or send their Bitcoin holdings to SegWit (bech32) addresses. For more details, please refer to Segregated Witness (SegWit) FAQ.

6. In this example, we will withdraw USDT from another platform and deposit it into Binance. Since we are withdrawing from an ERC20 address (Ethereum blockchain), we will select the ERC20 deposit network.

What is Binance? How to use Binance exchange for newbies (2022)
  • The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal from.
  • If the external platform only supports ERC20, you must select the ERC20 deposit network.
  • DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
  • For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you will lose your funds.

7. Copy the deposit address provided by Binance and paste it on the corresponding platform’s address section (where you intend to withdraw your funds from).

What is Binance? How to use Binance exchange for newbies (2022)

8. After confirming the withdrawal request, you have to wait until the transaction is confirmed. The confirmation time varies depending on the blockchain and its current network traffic.

Please, wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.

9. You can check the [Transaction History] page for more information on your recent transactions.

What is Binance? How to use Binance exchange for newbies (2022)

How to Deposit Money

How to Deposit Money for example, EUR, GBP, etc., via Bank Transfer (SEPA)

Select [Bank Deposit] under the [Buy Crypto] tab.

What is Binance? How to use Binance exchange for newbies (2022)

Select the corresponding currency, enter the amount, and click [Continue].

What is Binance? How to use Binance exchange for newbies (2022)

Get detailed payment information.

What is Binance? How to use Binance exchange for newbies (2022)

Complete Deposit to your account.

What is Binance? How to use Binance exchange for newbies (2022)

Binance Bank Transfer via SEPA and Faster Payments

1. What is the Single Euro Payments Area (SEPA)?

SEPA is an initiative of the European Union and is strongly supported by the European Commission and the European Central Bank that allows fast, reliable, and affordable Euro (EUR) transfers between bank accounts within the SEPA-zone.

2. What are the Deposit and Withdraw Fees for EUR?

AvailabilityDeposit FeeWithdrawal FeeProcessing Time
SEPAFree0.80 EUR0-3 business days.Weekdays only
SEPA InstantFree0.80 EURWithin a few minutes. 24/7/365

Important Notes:

  • This information may change from time to time. Please login to your Binance account and navigate to the bank deposit page to get the most recent information.
  • You will enjoy a lifetime limit of 150 USD after you register. To increase the limit, please proceed to complete your identity verification.
  • Fees listed in the above chart do not include additional fees charged by your bank (if any).
  • SEPA Instant supports 24/7/365 processing, however, users are advised to consult their bank regarding the availability of SEPA Instant and possible fees charged by your bank.

3. What is Faster Payments Service (FPS)?

FPS is a UK banking initiative to reduce payment times, United Kingdom’s 24/7 Real-Time Payment System, and is one of the most advanced systems of its type in the world. FPS allows fast, reliable, and affordable GBP transfers.

4. What are the Deposit and Withdraw fees for GBP?

AvailabilityDeposit FeeWithdrawal FeeProcessing Time
FPSFree1.5 GBPIn a few minutes. 24/7/365

Important Notes:

  • This information may change from time to time. Please login to your Binance account and navigate to the bank deposit page to get the most recent information.
  • In order to enjoy a higher limit, please proceed to complete your identity verification.
  • Fees listed in the above chart do not include additional fees charged by your bank (if any).

Trading cryptocurrencies involves significant risk and can result in the loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Binance based on the legal requirements in your country of residence. Investments in crypto assets are not covered by the Financial Ombudsman Service or subject to protection under the Financial Services Compensation Scheme.

How to Buy Crypto on Binance P2P

Buy Crypto on Binance P2P by Web App

Step 1:

Go to the Binance P2P page, and

  • If you already have a Binance account, click “Log In” and go to Step 4
  • If you do not have a Binance account yet, click “Register
What is Binance? How to use Binance exchange for newbies (2022)

Step 2:

Enter your email on the registration page and set your login password. Read and check the Binance Terms and click “Register”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 3:

Complete Level 2 identity verification, enable SMS Verification, and then set your preferred payment method.

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

Step 4:

Select (1) “Buy Crypto” then click (2) “P2P Trading” on the top navigation.

What is Binance? How to use Binance exchange for newbies (2022)

Step 5:

Click (1) “Buy” and select the currency you want to buy (BTC is shown as an example). Filter the price and the (2) “Payment” in the drop-down, select an ad, then click (3) “Buy”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 6:

Enter the amount (in your fiat currency) or quantity (in crypto) you want to buy and click (2) “Buy”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 7:

Confirm the payment method and amount (total price) on the Order Details page.

Complete the fiat transaction within the payment time limit. Then click “Transferred, next” and “Confirm”.

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

Note: You need to transfer the payment directly to the seller through bank transfer, Alipay, WeChat, or another third-party payment platform based on the sellers payment information provided. If you have already transferred payment to the seller, you must not click “Cancel” unless you have already received a refund from the seller in your payment account. If you do not make an actual payment, please do not click “Confirm” to confirm the payment. This is not permitted according to the rules of the transaction. If you encounter any issues during the transaction, you can contact the seller using the chat window.

Step 8:

Once the seller has released the cryptocurrency, the transaction is completed. You can click (2) “Transfer to Spot Wallet” to transfer the digital assets to your Spot Wallet.

You can also click (1) “Check my account” above the button to view the digital asset you just bought.

What is Binance? How to use Binance exchange for newbies (2022)

Note: If you do not receive the cryptocurrency 15 minutes after clicking “Transferred, next”, you can click “Appeal” and Customer Service will assist you in processing the order.

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

Buy Crypto on Binance P2P by Mobile App

Step 1

Log in to Binance app

  • If you already have a Binance account, click “Log in” and go to Step 4
  • If you do not have a Binance account yet, click “Register” on the top left
What is Binance? How to use Binance exchange for newbies (2022)

Step 2

Enter your email on the registration page and set your login password. Read the Binance P2P terms and click on the arrow to register.

What is Binance? How to use Binance exchange for newbies (2022)

Step 3

Enter your email and password, then click on the arrow to Log In.

What is Binance? How to use Binance exchange for newbies (2022)

Step 4

After you log in to the Binance app, click the user icon on the top left to complete identity verification. Then click “Payment Methods” to complete SMS authentication and set your payment methods.

What is Binance? How to use Binance exchange for newbies (2022)

Step 5

Go to the home page, click “P2P Trading”.

On the P2P page, click the (1) “Buy” tab and the crypto you want to buy (2) (taking USDT for example), and then select an ad and click (3) “Buy”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 6

Enter the quantity you want to buy, confirm the sellers payment method(s), and click “Buy USDT”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 7

Transfer the money directly to the seller based on the seller’s payment information provided within the payment time limit, and then click “Transfer the fund”. Tap on the payment method you transferred to, the click “Transferred, next”

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

Note: Setting payment method on Binance does not mean that the payment will go directly to the sellers account if you click “Transferred , next” . You need to complete the payment directly to the seller through bank transfer, or another third-party payment platform based on the sellers payment information provided.

Please do not click “Transferred , next” if you have not made any transactions. This will violate the P2P User Transaction Policy.

Step 8

The status will be “Releasing”.

Once the seller has released the cryptocurrency, the transaction is completed. You can click “Transfer to Spot Wallet” to transfer the digital assets to your Spot Wallet.

What is Binance? How to use Binance exchange for newbies (2022)

You can click “Wallet” at the bottom and then “Fiat” to check the crypto you bought in your fiat wallet. You can also click “Transfer” and transfer the cryptocurrency to your spot wallet for trading.

What is Binance? How to use Binance exchange for newbies (2022)

Note :

If you do not receive the cryptocurrency 15 minutes after clicking “Transferred, next”, you can contact the seller by clicking the “Phone” or “Chat” icon on the top.

What is Binance? How to use Binance exchange for newbies (2022)

Or you can click “Appeal”, select a “Reason for Appeal”, and “Upload Proof”. Our customer support team will assist you in processing the order.

What is Binance? How to use Binance exchange for newbies (2022)

1. You can only buy or sell BTC, ETH, BNB, USDT, EOS and BUSD on Binance P2P currently. If you would like to trade other cryptos, please trade at the spot market.

2. If you have any questions or complaints, please contact our customer support team.

How to Trade Crypto at Binance

How to Trade Spot on Binance Web App

Visit our Binance website (www.binance.com), click on [Log in] at the top right of the page to log into your Binance account.

What is Binance? How to use Binance exchange for newbies (2022)

Then click on any cryptocurrency on the home page, and go directly to the corresponding spot trading page.

What is Binance? How to use Binance exchange for newbies (2022)

Here is the trading page interface.

What is Binance? How to use Binance exchange for newbies (2022)
  1. Binance Announcements
  2. Trading volume of trading pair in 24 hours
  3. Sell order book
  4. Buy order book
  5. Candlestick chart and Market Depth
  6. Trading Type: Spot/Cross Margin/Isolated Margin
  7. Type of order: Limit/Market/Stop-limit/OCO(One-Cancels-the-Other)
  8. Buy Cryptocurrency
  9. Sell Cryptocurrency
  10. Market and Trading pairs.
  11. Your latest completed transaction
  12. Market Activities: large fluctuation/activities in market trading
  13. Open orders
  14. Your 24h order history
  15. Binance customer service

Let’s take an example to buy BNB. On the top of the Binance home page, click on the [Trade] option and select [Classic] or [Advanced]. Go to the buying section to buy BNB and fill in the price and the amount for your order, then click on [Buy BNB] to complete the transaction.

You can follow the same steps to sell BNB.

What is Binance? How to use Binance exchange for newbies (2022)
  • The default order type is called a limit order. But if traders want to place an order as soon as possible, they may switch to [Market] Order. By choosing a market order, traders could make a transaction instantly at the current market price.
  • If the market price of BNB/BTC is at 0.002, but you want to buy at a specific price, for example, 0.001, then you can place a [limit] order. When the market price reaches your set price, your placed order will be executed.
  • The percentage shown below the BNB Amount box refers to the amount of BTC you wish to use to buy BNB.Put the amount and buy crypto.

How to Trade Spot on Binance Mobile App

Log in to the Binance App, click on [Trade] to go to the spot trading page.

What is Binance? How to use Binance exchange for newbies (2022)

Here is the trading page interface.

What is Binance? How to use Binance exchange for newbies (2022)

1.Market and Trading pairs.

2.Real-time market candlestick chart, supported trading pairs of the cryptocurrency, “Buy Crypto” section.

3.Sell/Buy order book.

4.Buy/Sell Cryptocurrency.

5.Open orders.

You can use “Limit order” to buy BNB.

What is Binance? How to use Binance exchange for newbies (2022)
  1. Insert 0.002 BTC for the price.
  2. Select 100% for the quantity.
  3. Once the market price of BNB reaches 0.002 BTC, the “Limit” order will be completed, and you will have 1 BNB in your spot wallet.

You can follow the same steps to sell BNB.

NOTE:

  • The default order type is called a limit order. But if traders want to place an order as soon as possible, they may switch to [Market] Order. By choosing a market order, traders could make a transaction instantly at the current market price.
  • If the market price of BNB/BTC is at 0.002, but you want to buy at a specific price, for example, 0.001, then you can place a [Limit] order. When the market price reaches your set price, your placed order will be executed.
  • The percentage shown below the BNB Amount box refers to the amount of BTC you wish to use to buy BNB.Put the amount and buy crypto.

How to Use the Stop-Limit Function

What is a stop-limit order?

A stop-limit order is a market order that has both a stop price and a limit price. When the stop price is reached, it triggers the limit order. The limit price is the specific price of the limit order the stop price triggers.

Once your stop price has been reached, the limit order is immediately placed on the order book.

The stop and limit prices can be the same. However, it’s recommended for sell orders to set your stop price (trigger price) slightly higher than the limit price. The price difference allows for a safety gap in price between the time the order is triggered and when it is fulfilled.

For buy orders, set your stop price slightly lower than the limit price. This will also reduce the risk of your order not being fulfilled.

SL (stop-limit) terms and mechanics

Stop price: When the asset’s price reaches the given stop price, the stop-limit order is executed to buy or sell the asset at the given limit price or better.

Limit price: The selected (or potentially better) price that the stop-limit order is executed at.

Quantity: The quantity of assets to buy or sell in the stop-limit order.

Worked Example

The last traded price of BNB is 498 BUSD, and you feel that there is resistance around 500 BUSD.

If you think that the price will go higher after the price reaches the resistance level, you can put a Stop-Limit order to automatically buy more BNB at the price of 502 BUSD. This way, you won’t have to continuously watch market movements waiting for the price to reach your target price.

How to create a stop-limit order

Continuing with our example, we will look at exactly how you can make a stop-limit order

1. Select [Stop-limit] from the trading view to begin making your order.

What is Binance? How to use Binance exchange for newbies (2022)

2. Fill in the details of your stop price (trigger price), limit price for the triggered limit order, and the amount of crypto you wish to purchase. Click [Buy BNB] to confirm the details of the transaction.

In our example, the stop price is 500 BUSD and the limit price is 502 BUSD.

What is Binance? How to use Binance exchange for newbies (2022)

3. Double check your stop-limit order carefully before finally clicking confirm to submit it to the exchange.

What is Binance? How to use Binance exchange for newbies (2022)

View existing stop-limit orders

Once your orders have been submitted, existing ‘stop-limit’ orders can be found and reviewed in [Open Orders]. You can find this tab at the bottom of the trading view page.

What is Binance? How to use Binance exchange for newbies (2022)

When orders are executed or discarded, your stop-limit order history can be found under [Order History].

How to Withdraw at Binance

How to Withdraw Crypto

In this example, we will be withdrawing BNB to Trust Wallet.

1. Log in to your Binance account. Once you’re logged in, move your mouse to Wallet, and click on Fiat and Spot.

What is Binance? How to use Binance exchange for newbies (2022)

2. Click on Withdraw.

What is Binance? How to use Binance exchange for newbies (2022)

3. Select the Crypto tab.

What is Binance? How to use Binance exchange for newbies (2022)

4. Choose the cryptocurrency you’d like to withdraw.

What is Binance? How to use Binance exchange for newbies (2022)

5. If the cryptocurrency is issued on multiple networks, select which one you’d like to make your withdrawal on.

For example, BNB is issued on Binance Chain as a BEP-2 token, and on Binance Smart Chain (BSC) as a BEP-20 token. As such, if you’d like to withdraw to a BEP-2 address, choose the BEP-2 option. Be extra careful with this step. If you withdraw to the wrong address, you will lose your funds.

What is Binance? How to use Binance exchange for newbies (2022)

6. Tap on BNB in your Trust Wallet.

What is Binance? How to use Binance exchange for newbies (2022)

7. Tap on Receive.

What is Binance? How to use Binance exchange for newbies (2022)

8. Copy your BNB address.

What is Binance? How to use Binance exchange for newbies (2022)

9. Paste it on the Binance withdrawal page (Address).

What is Binance? How to use Binance exchange for newbies (2022)

10. Enter the withdrawal amount and you will be able to see the corresponding transaction fee and the final amount you will receive. Click [Withdraw] to proceed.

What is Binance? How to use Binance exchange for newbies (2022)

11. You need to verify the transaction. Please follow the on-screen instructions.

Warning: If you input the wrong information or select the wrong network when making a transfer, your assets will be permanently lost. Please make sure that the information is correct before you confirm the transaction.

12. After confirming the withdrawal request, please wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.

How to Withdraw Fiat Currency

Binance supports more than 60 fiat currencies and multiple different payment methods.

1. Log in to your Binance account. Once you’re logged in, move your mouse to Wallet, and click on Fiat and Spot.

What is Binance? How to use Binance exchange for newbies (2022)

2. Click on Withdraw.

What is Binance? How to use Binance exchange for newbies (2022)

3. Select the Fiat tab.

What is Binance? How to use Binance exchange for newbies (2022)

4. Select the fiat currency you’d like to withdraw and the payment method. Binance supports credit cards, debit cards, bank transfer, or cash balance.

*The payment method is based on your selected currency and region.

What is Binance? How to use Binance exchange for newbies (2022)

5. Enter the required details and follow the instructions.

What is Binance? How to use Binance exchange for newbies (2022)

6. Enter your verification code to confirm the withdrawal.

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

How to Sell Crypto on Binance P2P

Sell Crypto on Binance P2P by Web App

Step 1: Select (1) “Buy Crypto” then click (2) “P2P Trading” on the top navigation.

What is Binance? How to use Binance exchange for newbies (2022)

Step 2: Click (1) “Sell” and select the currency you want to buy (USDT is shown as an example). Filter the price and the (2) “Payment” in the drop-down, select an ad, then click (3) “Sell”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 3:

Enter the amount (in your fiat currency) or quantity (in crypto) you want to buy and click (2) “Sell”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 4: The transaction will now display “Payment to be made by buyer”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 5: After the buyer makes payment, the transaction will now display “To be released”. Please make sure that you’ve actually received payment from the buyer, to the payment app/method you used. After you confirm the receipt of money from the buyer, tap “Confirm release” and “Confirm” to release the crypto to the buyer’s account. Again, If you have not received any money, please DO NOT release crypto to avoid any financial losses.

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

Step 6: Now the order is completed, the buyer will receive the crypto. You can click [Check my account] to check your Fiat balance.

Note: You can use Chat on the right side to communicate with the buyer in the whole process.

What is Binance? How to use Binance exchange for newbies (2022)

Note:

If you have any issues in the transaction process, you can contact the buyer using the chat window on the top right of the page or you can click “Appeal” and our customer service team will assist you in processing the order.

What is Binance? How to use Binance exchange for newbies (2022)

Tips:

1. Please make sure to log in to your account to confirm the payment is received, this can avoid financial losses caused by wrongly clicking on the release button.

2. The digital assets you are selling have been frozen by the platform. Please confirm the receipt of the payment from the buyer and click “Release” to release the crypto.

3. Please do not agree to any request to release the crypto before confirming the receipt of the payment to avoid financial losses.

4. After receiving the SMS notification, please be sure to log in to your bank account to confirm whether the payment is credited, this will avoid the release of crypto due to Fraud SMS.

Sell Crypto on Binance P2P by Mobile App

You can sell cryptocurrencies with ZERO transaction fees on the Binance P2P platform, instant and secure! See the guide below and start your trade.

Step 1

First, go to the (1) “Wallets” tab, click (2) “P2P” and (3) “Transfer” the cryptos that you want to sell to your P2P Wallet. If you already have the crypto in the P2P wallet, please go to the homepage and tap “P2P Trading” to enter P2P trading.

What is Binance? How to use Binance exchange for newbies (2022)

Step 2

Click “P2P Trading” on the app homepage to open the P2P page on your app. Click [Sell] on the top of the P2P trading page, select a coin (taking USDT as an example here), then select an advertisement and click “Sell”.

What is Binance? How to use Binance exchange for newbies (2022)

Step 3

(1) Enter the quantity you want to sell, (2) select a payment method, and click “Sell USDT” to place an order.

What is Binance? How to use Binance exchange for newbies (2022)

Step 4

The transaction will now display “Pending Payment”. After the buyer makes payment, the transaction will now display “Confirm Receipt”. Please make sure that you’ve actually received payment from the buyer, to the payment app/method you used. After you confirm the receipt of money from the buyer, tap “Payment received” and “Confirm” to release the crypto to the buyer’s account. Again, If you have not received any money, please DO NOT release crypto to avoid any financial losses.

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

Note:

If you have any issues in the transaction process, you can contact the buyer using the chat window on the top right of the page or you can click “Appeal” and our customer service team will assist you in processing the order.

What is Binance? How to use Binance exchange for newbies (2022)

Frequently Asked Questions (FAQ)

Account

Why Can’t I Receive Emails from Binance

If you are not receiving emails sent from Binance, please follow the instructions below to check your email’s settings:

1. Are you logged in to the email address registered to your Binance account? Sometimes you might be logged out of your email on your devices and hence can’t see Binance’s emails. Please log in and refresh.

2. Have you checked the spam folder of your email? If you find that your email service provider is pushing Binance emails into your spam folder, you can mark them as “safe” by whitelisting Binance’s email addresses. You can refer to How to Whitelist Binance Emails to set it up.

Addresses to whitelist:

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

3. Is your email client or service provider working normally? You can check the email server settings to confirm that there isn’t any security conflict caused by your firewall or antivirus software.

4. Is your email inbox full? If you have reached the limit, you wont be able to send or receive emails. You can delete some of the old emails to free up some space for more emails.

5. If possible, register from common email domains, such as Gmail, Outlook, etc.

Why Can’t I Receive SMS Verification Codes

Binance continuously improves our SMS Authentication coverage to enhance user experience. However, there are some countries and areas currently not supported.

If you cannot enable SMS Authentication, please refer to our Global SMS coverage list to check if your area is covered. If your area is not covered on the list, please use Google Authentication as your primary two-factor authentication instead.

You may refer to the following guide: How to Enable Google Authentication (2FA) .

If you have enabled SMS Authentication or you are currently residing in a country or area that’s in our Global SMS coverage list, but you still cannot receiving SMS codes, please take the following steps:

  • Ensure that your mobile phone has a good network signal.
  • Disable your anti-virus and/or firewall and/or call blocker apps on your mobile phone that might potentially block our SMS Codes number.
  • Restart your mobile phone.
  • Try voice verification instead.
  • Reset SMS Authentication, please refer to here.

How to Redeem Futures Bonus Voucher/Cash Voucher

1. Click on your Account icon and select [Reward Center] from the drop-down menu or in your dashboard after logging in to your account. Alternatively, you can directly visit https://www.binance.com/en/my/coupon or access the Reward Center via the Account or More menu on your Binance App.

What is Binance? How to use Binance exchange for newbies (2022)

2. Once you receive your Futures Bonus Voucher or Cash Voucher, youll be able to see its face value, expiry date, and applied products in the Reward Center.

What is Binance? How to use Binance exchange for newbies (2022)

3. If you havent opened a corresponding account yet, a pop-up will guide you to open it when you click the redeem button. If you already have a corresponding account, a pop-up will come up to confirm the voucher redemption process. Once successfully redeemed, you can jump to your corresponding account to check the balance as you click on the confirm button.

What is Binance? How to use Binance exchange for newbies (2022)
What is Binance? How to use Binance exchange for newbies (2022)

4. You have now successfully redeemed the voucher. The reward will be directly credited to your corresponding wallet.

What is Binance? How to use Binance exchange for newbies (2022)

Verification

1. Why should I provide supplementary certificate information?

In rare cases, if your selfie doesn’t match with the ID documents you’ve provided, you will need to provide supplementary documents and wait for manual verification. Please note that manual verification might take up to several days. Binance adopts a comprehensive identity verification service to secure all users funds, so please ensure that the materials you provide meet the requirements when you fill in the information.

2. What are my daily withdrawal limits after completing Identity Verification?

Binance reviews its products and services on an ongoing basis to determine changes and improvements. Please refer to the [Personal Identification] page for the most updated withdrawal limits.

All new users are required to complete [Verified] verification to access Binance products and service offerings, including cryptocurrency deposits, trades, and withdrawals. Existing users who haven’t completed Intermediate Verification will have their account permissions temporarily changed to “Withdraw Only” with services limited to fund withdrawal, order cancelation, position close, and redemption. For more information, please refer to our announcement.

3. Why do I need to complete [Verified Plus] Verification?

If you wish to increase your limits for buying and selling crypto or unlock more account features, you need to complete [Verified Plus] verification. Follow the steps below:

Enter your address and click [Continue].

What is Binance? How to use Binance exchange for newbies (2022)

Upload your proof of address. It can be your bank statement or utility bill. Click [Confirm] to submit.

What is Binance? How to use Binance exchange for newbies (2022)

You will be redirected back to [Personal Verification] and the verification status will show as [Under Review]. Please wait patiently for it to get approved.

Deposit

Why has my Deposit not been credited yet?

Transferring funds from an external platform to Binance includes three steps:

  • withdrawal from the external platform
  • Blockchain network confirmation
  • Binance credits the funds to your account

An asset withdrawal marked as “completed” or “success” in the platform youre withdrawing your crypto from means that the transaction was successfully broadcast to the blockchain network. However, it might still take some time for that particular transaction to become fully confirmed and credited to the platform you’re withdrawing your crypto to. The amount of required “network confirmations” varies for different blockchains.

For example:

  • Bitcoin transactions are verified that your BTC is deposited into your corresponding account after reaching 1 network confirmation.
  • All of your assets will be frozen temporarily until the underlying deposit transaction reaches 2 network confirmations.

Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the TxID (Transaction ID) to look up the status of the transfer of your assets by using a blockchain explorer.

  • If the transaction has not yet been fully confirmed by the blockchain network nodes, please wait and try again later.
  • If the transaction is unconfirmed by the blockchain network, but it has also reached the minimum amount of network confirmations specified by our system, please contact our Support team and create a ticket with TxID, coin/token name, deposit amount and transfer time. Please make sure you have provided the above-detailed information so the Customer Service agent can assist you in a timely manner.
  • If the transaction is confirmed by the blockchain but not credited to your Binance account, please provide us with the TxID, token name, deposit amount, and time.

How do I check the transaction status on the blockchain?

Log in to Binance.com, click on [Wallet]-[Overview]-[Transaction history] to find your cryptocurrency deposit record.

What is Binance? How to use Binance exchange for newbies (2022)

Then click on [TxID] to check the transaction details.

What is Binance? How to use Binance exchange for newbies (2022)

Summary of Incorrect Deposit

Missing or wrong TAG:

If you forgot to use a Tag, Memo or payment ID (e.g. BNB, XLM, XRP, etc) or used an incorrect one, then your deposit will not be credited.

Currently, you can apply for recovering your assets via self-service online:

Deposit made to incorrect receiving/deposit address or Unlisted token deposited:

Binance generally does not offer a token/coin recovery service. However, if you have suffered a significant loss as a result of incorrectly deposited tokens/coins, Binance may, solely at our discretion, assist you in recovering your tokens/coins. Binance has comprehensive procedures to help our users recovering their financial losses. Please be noted that successful token recovery is not guaranteed. If you have encountered this sort of situation, please remember to provide the following information to us for speedy assistance:

  • The email address of your Binance account
  • Token name
  • Deposit amount
  • The corresponding TxID

Deposit to an incorrect address which doesnt belong to Binance:

If you have sent your tokens to an incorrect address which does not belong to Binance. We are unable to provide you any further assistance. You are suggested to contact the relevant parties (owner of the address or exchange/platform which the address belongs to).

Withdrawal

Why has my withdrawal now arrived?

I’ve made a withdrawal from Binance to another exchange/wallet, but I haven’t received my funds yet. Why?

Transferring funds from your Binance account to another exchange or wallet involves three steps:

  • Withdrawal request on Binance
  • Blockchain network confirmation
  • Deposit on the corresponding platform

Normally, a TxID(Transaction ID) will be generated within 30-60 minutes, indicating that Binance has successfully broadcasted the withdrawal transaction.

However, it might still take some time for that particular transaction to be confirmed, and even longer for the funds to be credited into the destination wallet. The amount of required network confirmations varies for different blockchains.

For example:

  • Bitcoin transactions are verified that your BTC is deposited into your corresponding account after reaching 1 network confirmation.
  • Your assets are temporarily frozen until the underlying deposit transaction reaches 2 network confirmations.

Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the transaction ID (TxID) to look up the status of your transfer by using a blockchain explorer.

Note:

  • If the blockchain explorer shows that the transaction is not confirmed, please wait for the confirmation process to be completed. This varies depending on the blockchain network.
  • If the blockchain explorer shows that the transaction is already confirmed, it means that your funds have been sent out successfully and we are unable to provide any further assistance on this matter. You would need to contact the owner/support team of the destination address to seek further help.
  • If the TxID has not been generated 6 hours after clicking the confirmation button from the e-mail message, please contact our Customer Support for assistance and attach the withdrawal history screenshot of the relevant transaction. Please make sure you have provided the above information so the Customer Service agent can assist you in a timely manner.

Withdrawal to a Wrong Address

Our system initiates the withdrawal process as soon as you click on [Submit] after passing security verification. Withdrawal confirmation e-mails can be identified by their subject lines starting with: “[Binance] Withdrawal Requested From……”.

What is Binance? How to use Binance exchange for newbies (2022)

If you’ve mistakenly withdrawn funds to the wrong address, we are unable to locate the receiver of your funds and provide you any further assistance. If you have sent your coins to an incorrect address by mistake, and you know the owner of this address, we recommend you to contact the customer support of that platform.

Are the offers I see on P2P exchange provided by Binance?

The offers you see on the P2P offer listing page are not offered by Binance. Binance serves as a platform to facilitate the trade, but the offers are provided by users on an individual basis.

As a P2P trader, how am I protected?

All online trades are protected by escrow. When an ad is posted the amount of crypto for the ad is automatically reserved from the sellers p2p wallet. This means that if the seller runs away with your money and does not release your crypto, our customer support can release the crypto to you from the reserved funds.

If youre selling, never release the fund before you confirm that you have received money from the buyer. Be aware that some of the payment methods buyer use are not instant, and may face the risk of callback.

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Overview and instructions for using Uniswap V2 (applicable to all wallets)

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Overview and instructions for using Uniswap V2 (applicable to all wallets)

What is CoinEx ?

CoinEx is a professional cryptocurrency exchange service provider with a global scale of operations. Currently, CoinEx exchange supports many different languages ​​including Vietnam.

CoinEx exchange was established on December 12 , 2017, and is headquartered in Hong Kong . CoinEx is developed by elite staff in various fields such as Blockchain, finance, and services.

With commercial systems exclusively in combination with the user experience the same great interface extremely friendly, floor CoinEx will become a trading platform electronic money safe, stable and efficient for users on the whole world in general and Vietnamese users in particular. And with a total trading volume of more than 1 billion USD per day also proves this somewhat.

CoinEx currently supports many languages ​​and provides global trading services in nearly 100 countries/regions including Vietnam, so Vietnamese brothers and sisters can fully experience this exchange. .

Advantages of CoinEx exchange:

  • Safe & Stable

With a top technical team, comprehensive security protection and CoinEx’s exclusive high-speed order matching engine, the exchange ensures the stability of thousands of orders at the same time, each of which will within your reach.

  • Professional & Full compliance with legal requirements

In addition to CoinEx’s operations team with rich experience in the financial and blockchain industries, the exchange has a 100% reserve guarantee and has a legal license in Estonia.

  • Users come first

Serve global users with 24/7 exchange services, multi-language support, strong community backup, and professional customer service.

  • Support many different languages

CoinEx exchange currently supports 12 different languages ​​such as English, Vietnamese, Chinese…

  • Good trading platform

CoinEx exchange provides users with an intuitive, easy-to-use interface and full functionality of a cryptocurrency exchange.

The ecosystem of the CoinEx exchange includes:

  • CoinEx: Exchange
  • ViaBTC: Pool
  • CoinEx Chain: Public Chain
  • ViaWallet : Wallet
  • Oneswap: Decentralized Exchange
  • ViaBTC Capital: Investment Fund

Table of transaction fees of CoinEx exchange

Overview and instructions for using Uniswap V2 (applicable to all wallets)

What coins and tokens does CoinEx exchange support?

Currently, CoinEx exchange is supporting users to trade more than 300 different coins and tokens, including popular tokens such as: BTC, ETH, CET, USDT, BNB, ADA, XRP, DOGE, USDC, UNI …

Overview and instructions for using Uniswap V2 (applicable to all wallets)

CoinEx exchange transaction fees

Transaction fee when using Spot . function

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Deposit and withdrawal fees

Currently, the CoinEx exchange supports the trading of more than 300 different tokens. You can check the exchange’s deposit and withdrawal fees through the following link: https://www.coinex.com/fees?type=deposit

What function does CET token have?

CoinEx Token (CET) is a value-added service and privilege program based on CoinEx ‘s business ecosystem . CET is issued on the Ethereum blockchain and ERC 20 token format, will be launched on the exchange’s self-renewing CoinEx smart chain (coinex.org) and used as the transaction fee.

CoinEx Exchange User Manual

Instructions for registering an account

Step 1: Access the link: https://www.coinex.com/register

Step 2: Select “Sign Up”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Fill in the information in the order shown in the illustration, then select “Sign Up” to complete

Overview and instructions for using Uniswap V2 (applicable to all wallets)

KYC Instructions

Step 1: Access the link: https://www.coinex.com/

Step 2: Select “Sign In” and log in your account

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select “Account”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 4: Select “Account Settings”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 5: In the ID Verification section, select “Verify”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 6: Fill in personal information such as name, country, and upload photos taken with ID or passport, Then tick the box and select “Submit” to complete

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Note : You can now use CCCD card to perform KYC on Coinex exchange. The review process is fully automated .

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Instructions for activating Google Authenticator

Step 1: Access the link: https://www.coinex.com/

Step 2: Select “Sign In” and log in your account

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select “Account”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 4: Select “Account Settings”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 5: Select “Bind TOTP”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 6: Select “Send code” then check your email to get the code and fill in the box next to it. After entering the code, select “Next”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 7: Open the Google Authenticator app on your phone then scan the QR code as shown in the illustration. Then get the 6-digit code, finally select “ Next ” to complete.

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Instructions for depositing cryptocurrency to CoinEx exchange

Step 1: Access the link: https://www.coinex.com/

Step 2: Select “ Sign In ” and log in to your account

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select “Asset”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 4: Select “Deposit”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 5: Select the type of crypto asset you want to deposit on the exchange, then select the token standard (eg ERC-20 or TRC-20), and finally copy the wallet address to make the deposit order death.

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Instructions for withdrawing cryptocurrency from CoinEx exchange

Step 1: Access the link: https://www.coinex.com/

Step 2: Select “Sign In” and log in your account

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select “ Asset ”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 4: Select “Withdrawal”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 5: Select the cryptocurrency you want to withdraw, internal withdrawal or on-chain withdrawal, withdrawal token standard (eg TRC-20, ERC-20). Then enter the wallet address you want to withdraw in the “Withdrawal Address” box and enter the electronic convenience number you want to withdraw in the “Amount” box . Finally select “Submit” to complete.

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Cryptocurrency Trading Guide

Step 1: Log in to your trading account floor

Step 2: Select “Exchange”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Place an order

The spot trading interface of CoinEx exchange is almost similar to other exchanges.

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Instructions to buy cryptocurrency with Viettel Pay on CoinEx exchange through XanPool platform

Step 1: Login to the exchange

Step 2: Select “Fiat”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select the cryptocurrency you want to buy, then select VND and enter the amount you want to use to buy cryptocurrency

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select “ XanPool ” then click “ Buy ”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 4 : Confirm order information and select “ Buy ”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 5: Confirm the order again and select “ Buy ” to go to XanPool’s homepage

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 6: Select “ Payment Method ” Then select “ Buy ”. (Note: In the ” Payment Method ” section, you will choose ” Viettel Pay” )

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 7: Log in to your XanPool . account

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 8: Upload personal information to confirm identity

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 9: After confirming the transaction, select “ Xchange ” and then log in to your account to check the assets

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Instructions for using the Perpetual . function

Step 1: Log in to your account on the exchange

Step 2: Select “Perpetual”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Place an order

The perpetual function interface of CoinEx exchange is generally no different from other exchanges. You can choose from different levels of leverage

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Instructions for using the Mining function

Step 1: Log in to your account on the exchange

Step 2: Select “Mining”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select “Stake mining”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 4: Choose pool, and join staking

CoinEx exchange AMM function

What is Automated Market Making (AMM)?

Automated Market Making (AMM) is a model that calculates bid and ask prices according to an automated formula to provide a continuous quote to the market. CoinEx combines AMM with order book for trading mechanism and the system will automatically convert liquidity pool into order book.

CoinEx AMM allows any user to become a market maker. By adding liquidity to the liquidity pool, users can share in the trading fees earned by the platform.

Introduction to AMM . Algorithm

CoinEx applies the “constant product market formula” algorithm in AMM, which means that when adding liquidity to the liquidity pool, the user has to provide two different assets and the quantity of the two will not change.

There are two algorithms adopted by CoinEx: One is the “Infinite Constant Product Market Formula” algorithm, which is featured in providing company liquidity to the market no matter how large the order book is. or how small the liquidity pool is, mainly applied in the normal market (e.g. CET/USDT).

The other is the “Finite Constant Product Market Generation Formula” algorithm that improves the utilization rate of funds and brings solid liquidity to the market within a certain price range, which is mainly applied used in the stablecoin market (e.g. USDC/USDT).

Fees and Revenue

CoinEx AMM’s revenue mainly comes from transaction fee dividends distributed by the platform. Users who provide pool liquidity will receive 50% or more (100% for all CET trading AMM markets) of the transaction fees generated in the pool. The turnover is calculated once a day and by the next day it will be automatically deposited into the MM (Market Maker) account. Cumulative revenue can be received when withdrawing liquidity.

How to use the AMM . function

Step 1: Access the link: https://www.coinex.com/

Step 2: Select “ Sign In ” and log in to your account

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 3: Select “Asset”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 4: Select “ AMM Account ”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 5 : Select “ Assets ”

Overview and instructions for using Uniswap V2 (applicable to all wallets)

Step 6: Select the token pair you want to add liquidity, then select “ Add ” and then enter the number of tokens you want. In case you want to withdraw liquidity, select “ Remove ” then enter the amount of tokens you want.

Overview and instructions for using Uniswap V2 (applicable to all wallets)

In case you want to check the reward received from providing liquidity, you choose ” Earnings “ to check.

Overview and instructions for using Uniswap V2 (applicable to all wallets)

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