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How to basic trade on Binance exchange

This guide shows you everything you need to know on how to trade, buy and sell cryptocurrencies on the Binance exchange. You can start buying, trading and selling cryptocurrencies from here.

Guide difficulty
25 %

“Binance is one of the top cryptocurrency exchanges in China. Yet it is not located in China so it doesn’t fall under Chinese regulation. It has all of the big trading pairs, as well as trading pairs to USDT. Their website supports multiple languages; English, Chinese, Korean, Japanese, Russian and Spanish. A Lot of volume is being traded at Binance. Also their system can handle 1.400.000 orders per second. Binance does not support Fiat currencies (eg USD, EUR). Their support channels respond quickly and are helpful. Binance offers its own cryptocurrency: Binance Coin (BNB). You can use this coin to get 50% discount on trading fees.”

Binance

Register on the fastest growing exchange.


  1. Login to Binance.com (If you still need to register yourself check this article: “How to register on Binance?”
  2. In the left top corner click on exchange, the dropdown menu shows ‘basic’ and ‘advanced’ -> Click on basic
  3. This opens the exchange page.
  4. In the following tabs you can see all the different blocks on the trading page. Guide continues under these pictures.

    Trading screen

    Binance shows everything you need right in your face. The picture shows you the trading area. Here you have 2 options: ‘Limit’ and ‘ Market’. The tab market buys or sell for the best market price at that moment. At the tab ‘Limit’ you can set the price to buy or sell. This means you can also place orders lower or higher then the current market price. For example you can set a sell order at 10% higher then the current price. This order stays active until it is filled or cancelled. Binance added an easy option where you can chose to buy/sell 25%, 50%, 75% or 100% of your available funds.

    Binance-Basic-trading-screen-Buy-and-sell-area

    Binance – Basic trading screen – Buy and sell area

    This picture shows the chart area. Here you can see the actual price movement and the historic prices.

    Binance-trading-screen-chart-area

    Binance – chart area

    In this area you can change the chart timeframes. This means right now it shows 12hour candles, that means every candle represents the price movement of 12hours.

    binance-chart-options

    Binance – chart options

    This area shows the trading volume. Every bar represents the trading volume. Green is buy volume, green is sell volume.

    binance-trading-volume

    Binance – trading volume

    This area shows the price of the cryptocurrency. The last traded prices shows on the left. on the right you can see the trading volume.

    binance-trading-screen-price area

    Binance – price area

    This area shows the active open sell orders. The number on the right shows the total amount of the order in Bitcoin.

    Binance-open-sell-orders

    Binance – open sell orders

    This area shows all the active buy orders people placed. The number on the right side shows the amount of the order in bitcoin.

    binance-open-buy-orders

    Binance – open buy orders

    This is an important area. This area shows all the different trading pairs. If you would like to trade something else or a different market you can find it here. Binance offers BTC, ETH and USDT markets.

    Binance-different-trading-pairs

    Binance – different trading pairs

    This area shows the orders that are active. Or in other words: trades that are not yet finished, filled or successful.

    Binance-active-orders

    Binance – Open/active orders

    In this area, trades will show up that have been completed in the last 24 hours. If you want to see older trades and the rest of your trading history, click ‘More’.

    Binance – Succesful trades


  5. So now you know a little about the trading interface on Binance. Lets get started placing a buy or sell order on Binance.

Placing a buy or sell order on Binance

Your first Buy order

  1. At the left-bottom you have the ‘buy area’
  2. First fill in the amount of coins/tokens you would like to buy.
  3. If you click on a price on the left side of the screen, as i did here. Binance automatically fills in the price you clicked. If you click on the lowest sell price, and you buy on that price, your order automatically gets filled. Of course you can also chose a different buy level. For example as you can see the price of SUB is now 0.000002641. I can place a buy order for example 0.000002000, this means the price has to drop quite a a lot before my buy order is filled.Binance buy order
  4. Press Buy ‘tokenname’ (purple arrow).
  5. Your open order will show up in the ‘open orders’ area on the left bottom of your screen. Your completed orders will show up in the ‘My 24h Trades’ Area. on the right side.open orders
  6. Congratulations. You placed your first buy order.

Your first Sell order

  1. At the right-bottom you have the ‘sell area’
  2. First fill in the amount of coins/tokens you would like to Sell.
  3. If you click on a price on the left side of the screen, as i did here. Binance automatically fills in the price you clicked. If you click on the highest buy price, and you sell on that price, your order automatically gets filled.binance sell
  4. Press Sell ‘tokenname’ (purple arrow).
  5. Your open order will show up in the ‘open orders’ area on the left bottom of your screen. Your completed orders will show up in the ‘My 24h Trades’ Area. on the right side.sell orders
  6. Congratulations. You placed your first sell order.
  7. Happy Trading

Happy Trading!

Binance

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3 Comments
  1. Reply
    Johannes 5 January 2018 at 20:49

    How can you do this on Binance:

    What if I made multiple buys for one coin on different dates (e.g.: 1) XVG for 0.00007 BTC, 2) XVG for 0.00021 BTC) and want to make a sell only for the coins I’ve bought for 0.00021 BTC?

    As Binance is just displaying the total amount of coins you can sell this seems to be tricky for beginners.

    • Reply
      dvs_one2crypto 5 January 2018 at 20:56

      Great question! We understand that for beginners this might be a bit tricky. Thats why we suggest using portfolio tools like: Blockfolio (Mobile), Delta (Mobile), Cryptocompare (web) To keep track of your buy and sells. This way you can keep your accountancy up to date. Happy trading!

  2. Reply
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