Today we continue our conversation about the Binance cryptocurrency exchange. In the previous article, we examined the main advantages of this site, its lightning-fast success, which allows it to rightfully occupy the leadership position today..
We made sure that this site deserves our attention and it is definitely worth trying our hand at it. Therefore, let’s move on to registering and getting started with the exchange..
- 1 Binance.com: Registration Steps
- 2 Setting up 2FA two-factor authentication
- 3 Verification on Binance
- 4 How to fund Binance?
- 5 Withdraw funds to Binance
- 6 Binance fees
- 7 Binance Listing
- 8 Why Connect Binance to Third Party Cryptocurrency Services?
- 9 How to connect Binance to 3commas?
Binance.com: Registration Steps
To enter the exchange, you traditionally need to enter your username and password on the official site of the site https://www.binance.com/. Next, you will need to enable two-factor authentication, enter the one-time code that will come to you in the application Google Authentificator. Let’s consider all the steps in order.
Step 1. Create an account
Click in the upper right corner on the link Register / “Register”, this window will appear:
Push Register or “Register”, if you are using the Russian-language version of the site. After that, you will receive an email with a link to activate your account. Follow it and registration will be completed.
If you have a referral code, then you can enter it in the field Referal ID, to receive discounts on commissions, gifts and other pleasant bonuses.
Step # 2. Login to Binance
To enter your account, you need not only enter your username and password on the site https://www.binance.com/. The company has already repeatedly encountered the fact that scammers disguise their resources as the official website of the exchange, so before entering, you need to make sure that you are going to the Binance website.
There must be a padlock next to the line with the URL, and the site address must start with https: // This indicates a secure connection.
After verification, you need to click on the field with the site address in the form with the login and password input.
Step # 3. Captcha Binance
Binance uses an ingenious way of verifying that a user is not a robot. Instead of entering the usual captcha: text, numbers or a picture, he needs to move a piece of the puzzle to the right place, and as soon as it matches, a corresponding inscription will appear about the successful completion of the captcha.
That’s all with registration. Now you can top up your balance with any cryptocurrency, most often BTC or ETH, and start trading.
Setting up 2FA two-factor authentication
Binance considers a high level of security to be one of its key tasks in the work of users on the exchange. And we will not argue with her, because everything related to finances must be reliably protected, since scammers, hackers and other attackers do not sleep on the network..
Therefore, upon repeated entries, the exchange will in every possible way insist on a strengthened method of protection and offer two-factor authentication. I also strongly recommend that you turn on 2FA right away in order to forget about exchange reminders and remain confident in the safety of your funds and account security.
You will have to enable double authentication even if you are not very concerned about security – many important functions do not work without it. For example, you cannot go through verification or withdraw funds.
Binance.com provides two authentication methods, you can choose the most convenient one and click Enable:
- through SMS. This method is easier – just bind your phone number to your account, and every time you log in, withdraw funds or change settings, the exchange will send you a code via SMS.
To do this, click Send SMS / “Send”. A few minutes later, a code will be sent in the message, which should be entered in the column “SMS Authentication Code” and press Submit.
This method is less reliable, because sometimes SMS do not reach or arrive with a delay, there are cases when attackers intercepted SMS as well, therefore I recommend using the second method;
- authentication Google. To do this, an application is installed on the smartphone Google Authentificator, the app account is linked to the Binance account.
Now, every time you enter, the exchange will request a code that comes to the application and changes every minute, so it is impossible to intercept it. This is a convenient and safe way. Let’s consider it in more detail.
Two-factor authentication on binance.com across Google Authentificator
1.Download the Google Authentificator app from PlayMarket or Google App Store and install it on your smartphone. You can download it directly on the websitehttps://www.binance.com
2. The system will prompt you to scan QR code, in order to automatically enter the private key into the application. If for some reason your smartphone cannot read the code, you can manually enter data into the application.
Your private key from Google Authentificator will be written next to the QR code. It will serve as the basis for generating future codes for entering the exchange..
It is important to keep this key on a secure medium in a safe place. Without this code, you will not be able to log into your account.
Linking your Binance account to the Google Authentificator. To do this, you must enter:
- account password in the Login Passvord line;
- one-time code from app.
If you did everything correctly, a notification will appear about the successful activation of two-factor authentication.
IMPORTANT! If you can’t turn on Google authentication, when you enter the code from the application, an error constantly appears that the code or password is incorrect, do the following: open the application and go to “Settings”, there select the item “Time correction for codes”.
Verified personally, after that the login will work.
Verification on Binance
If you do not plan to withdraw more than 2 bitcoins per day, then you do not need to go through mandatory verification, since there is no fiat on the exchange. This is the main level of verification, meaning that you have passed the verification of the attached mail, it is enough for most users to work..
To withdraw up to 100 BTC per day, you need an identity check and deeper account verification. To do this, you need to send the exchange passport data and your photo with it in your hands. After that, it will take some time to check the documents.
To remove the higher withdrawal restrictions – over 100 BTC per day), you will need to contact the exchange support directly.
Each level is available only after successfully passing the previous one and enabling 2FA.
How to fund Binance?
Binance is a cryptocurrency exchange, so you won’t find dollars, rubles, or euros here. You will not be able to replenish electronic money either: Webmoney, Yandex.Money, Qiwi, etc. Digital currencies only.
You can buy cryptocurrency using your MasterCard / VISA card. But in this case, the rate will differ quite significantly from the official one, so it is better to use trusted online exchangers and buy cryptocurrency in advance.
Cevens can be replenished with the following currencies without any problems:
- Binance Coin (BNB Coin) – the internal perspective currency of the exchange;
- Bitcon (BTC) is still the leading cryptocurrency;
- Ethereum (ETH) – the second most popular cryptocurrency after Bitcoin;
- Tether (USDT) – currency from Tether Limited, according to them, backed by the US dollars in their accounts;
- many others.
Top up account on the exchange Binance very simple:
- go to section Funds – Deposits;
- select the coin in the currency of which you want to replenish the deposit;
- enter the wallet details for replenishment.
Enrollment does not take place instantly. You can control the process and check the receipt of funds in the section Funds – Transaction History.
After successful replenishment of the balance, you can start trading or make investments in certain projects. The Binance exchange offers a huge list of cryptocurrencies: an almost complete set of the most promising coins and a lot of new ones that have completed ICO.
Withdraw funds to Binance
To withdraw cryptocurrency to your wallet, you must select in the menu Funds paragraph Withdrawal. After that, select the coin, the withdrawal amount and press Submit.
IMPORTANT! Withdrawals are only possible if you have two-factor authentication enabled.
In the previous article, we already talked about the fact that one of the factors that influenced the rapid growth in the popularity of the Binance exchange is the lowest commission in comparison with all cryptocurrency exchanges. Usually, cryptocurrency exchanges have three types of them:
- for depositing funds;
- for withdrawal;
- per transaction.
As of February 5, 2019, the commission is still 1% of the transaction. There is no commission for replenishing the account, and there is also a very democratic approach to withdrawing funds from the site: Ripple – 0.25%, Bitcoin – 0.001%, Ethereum – 0.01%, etc..
The fees on Binance are indeed significantly lower than those of the competition. In addition, it may include a 25% discount on Binance Coin payments and drop to 0.75%. This is one of the lowest transaction fees among popular crypto exchanges..
Binance has a very wide list of cryptocurrency pairs, the exchange is open to cooperation with new coins and is regularly adding to its list. The site presents: Bitcoin, Ethereum, Ethereum Classic, Bitcoin Gold, NEO, Monero, LiteCoin and many others.
On the one hand, only decent coins are included in the list, on the other hand, the company also willingly lists promising new cryptocurrencies after the ICO. Today on the exchange there are more than 240 coins for trading in more than 370 currency pairs.
It is difficult to get on the list of Binance, as today it is the most demanded for the listing of new coins. Some sources claim that the coin can be listed on the exchange for $ 2 million. But this is not the main and not the only condition. After that, she will have to go through a rigorous selection process according to a number of criteria..
The assessment is carried out by a special commission. She holds a closed meeting at which she examines the applicant in detail. It is impossible to influence its decision, because no one knows either the composition of the commission or the selection factors.
Developers of new coins are not allowed to announce or in any way communicate that they plan or seek to be listed on Binance. Otherwise, the path to the exchange will be closed for such a coin once and for all. If the decision of the commission is made in favor of the coin, then its developer will be able to find out about it from the official sources of the exchange together with the main users..
Thus, the company once again confirms its reliability and impeccable reputation..
Why Connect Binance to Third Party Cryptocurrency Services?
As we said in the previous article, a cryptocurrency exchange is a platform that connects a trader with the cryptocurrency market. On it, he can trade and make his transactions. In essence, it gives him access to the market. Of course, on the exchange site, especially such as Binance, there are many tools for technical analysis, access to information important for a crypto trader, and a host of other features that we have already partially discussed (for example, a basic and advanced interface) and will touch on in the next article. … But often this is not enough for a trader..
Especially if he is just starting trading and is not yet able to write indicator codes on his own, but prefers to set up Expert Advisors, use bots that will trade according to specified indicators, set up alerts, etc. That is, both a beginner and an experienced trader strive to choose for themselves a reliable service that simplifies and automates its work as much as possible. One of these services is the 3commas platform.
After registering on 3commas or another site, you can connect Binance and other exchanges to it in order to use their information on quotes and make transactions.
How to connect Binance to 3commas?
After registering for 3commas in your personal account, you need to click on the “Add exchange” button, and then “Connect to the exchange”.
Here we enter the desired name of the exchange and select it from the list. After that, you need to enter a pair of keys: API Key and API Secret. To receive them, you must have two-factor authentication (2FA) enabled on Binance, which we talked about above. after that you need:
1.Login to your account on https://www.binance.com/
2. Click on the Account tab.
3. Go to section API Setting.
4. Enter any desired and meaningful name for the key and press Create new key.
5. Enter the code from Google Authentificator.
6. The next window will display a pair of API and Secret keys ready to use:
If you are going to use the service for trading, the formation of the API key is now complete. And if you need a service to receive graphic information, then you need to click the button Edit anduncheck the box Enable Trading, then press Save and re-enter the 2FA code from the application Google Authentificator.
If for one reason or another you need to delete the key – click Delete and confirm the action.
Now we have everything ready for work: we registered an account, set up its security, connected the cryptocurrency service of interest to us for automated trading or simplifying our work. Let’s start trading! In the next Binance article, we’ll take a look at how to trade on the # 1 cryptocurrency exchange. See you soon!
Good luck and good profits!