Binance 101

Cryptocurrencies are infamous for their price volatility. Fluctuations of a few percentage are normal in a day. The volatility makes them a bit impractical for day to day use such as paying for groceries and other stuff. However, the volatility and overall increasing value has given people an opportunity to trade them for profits. Selling high and buying low, the basics of trading- was conducted through simple P2P exchanges.

 

Overtime, these platforms have matured to include different types of buy/sell orders. Today, there are full-fledged crypto exchanges that offer professional level trading.

 

Binance the Best Crypto Exchange

Binance was launched in 2017 with different crypto trading pairs. Initially it only contained crypto to crypto pairs, but as the platform expanded globally, it started offering more pairs, including crypto to stablecoins, crypto to fiat etc.

 

The Binance interface is simple, yet comprehensive. The centre of the interface is occupied by the trading graph, showing the rise and fall of a crypto value in specified timelines. The left side is occupied by the order books and the right side contains trading pair selection and market trades.

 

Below the graph is where users can set their orders. Binance offers three types of order:

 

  • Market Orders: The crypto is traded immediately at the going price in the market.
  • Limit Orders: The trader can not only define the amount of the trade, but can also ask a price.
  • Stop Limit: Requiring another input, the Stop Limit lets a user define when to initiate the limit order.

 

Binance also has advanced trading tools for the professional, such as futures, leveraged trading and even offers crypto to fiat pairs.

 

With one of the most secure trading environments, Binance offers low fee and a wide range of trading pairs, giving everyone a chance to cash in on the potential profits associated with cryptocurrencies.

 

Binance Trading Made Easy with MindSynch

Binance allows its users to setup automated trading using APIs. MindSynch’s OneBit is a trading bot that can be connected to the Binance account. Its advanced trading features allow users to sit back and relax while the bot does all the actions. Using years of experience, the MindSynch team has been able to create strategies that give far better profits than manually buying and selling. The bot never sleeps and keeps a tab on the crypto price movements.

 

OneBit is a cloud based service and requires no installation. The secure trading bot keeps all trades transparent to allow traders to know how much profits they are making passively.

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