The Cryptoniac provides a tutorial on how to create an account on Binance. Binance is a cryptocurrency exchange that does not offer a fiat currency exchange service, to find an exchange service, you can see check out our helpful guide here.
This tutorial covers how to setup a Binance account, how to set up a 2 factor authentication using Binance, how to transfer coins from one exchange into Binance, how to buy and sell cryptocurrencies including bitcoin, ethereum, and other altcoins.
The easiest way to setup a 2 factor authentication on Binance is to download the Google Authenticator from the App Store or Google Play. You will need to sync your Google Authenticator with Binance before it can be used.
Binance has a unique feature called a “Stop Limit Order” which will automatically buy or sell currencies if and when the coin/token reaches a certain price.
Cryptoniac’s tutorial of Binance explores the Binance website layout including: the exchange trading platform, the labs page, the launchpad, the funds page, and past orders.
Binance is one of the most popular cryptocurrency exchanges, but you can research other exchange trading services to find out which one is right for you using this review. Research the service fees and security that each exchange offers.
Binance offers a fee discount if you hold their cryptocoin, BNB. Buying BNB gives Binance customers a kick-back in the form of a 50% discount on all transaction and withdrawal fees in the first year of use. After that, customers are given a 25% rebate in the second year and a 12.5% and 6.75% discount in the consecutive years. There will be no fee reductions in year five.