December 7, 2022

How to Invest With Binance Coins For Beginners

Cryptocurrency or cryptocurrency investments are a type of investment that offers high returns. Cryptocurrency itself is a digital currency that exists and can only be used in cyberspace.

Cryptocurrency itself is a digital currency that exists and can only be used in cyberspace. Cryptographic investment, especially Bitcoin, was first introduced by Satoshi Nakamoto in January 2009. Cryptographic investments are online investments that are accessible to almost everyone in the world.

In addition, cryptocurrencies can also be used as a payment method for online purchase transactions by exchanging with other currencies such as dollars, yen, rupiah and other currencies.

Cryptocurrency investment is now the most popular investment tool in almost every world. This can be seen in the increasing number of new types of cryptocurrencies available for purchase today.

Besides Bitcoin and Altcoin, one of the other popular types of crypto investment that is still of great interest is Binance Coin.

What is Binance Coin?

Binance Coin (BNB) is a crypto coin created by Binance. Binance itself is one of the largest crypto exchange platforms in the world. Binance was founded in Hong Kong in 2017. The name “Binance” is a combination of the words “bitcoin” and “finance”.

In the Binance ecosystem, BNB is used as a utility token to receive discounts when paying transaction fees on the Binance platform. BNB itself is the largest crypto asset and the fourth in the world after Bitcoin and Ethereum.

Benefits of Binance Coin (BNB):

  • Binance has grown to become the largest cryptocurrency exchange platform.
  • There is a potential for a significant increase.
  • There is a burning policy (burning coins in circulation) every 4 months.
  • Suitable for long-term investment
  • The interface is very nice and complete
  • Register many cryptocurrencies
  • Very fast process speed
  • It can be found in three different networks:
  • BEP-2 on the Binance chain
  • Binance smart chain BEP-20
  • ERC-20 on Ethereum Network

How to invest in Binance Coin (BNB)

Interested in investing in crypto at BNB (binancecoin)? Here’s how to create an account on Binance to invest in Binance Coins (BNB).

How to create an account:

  1. Click this link https://accounts.binance.com
  2. Click Register.
  3. Use an email address that is used frequently and checked regularly.
  4. Create passwords by combining numbers, symbols, and uppercase and lowercase letters.
  5. Read and accept the Binance Terms of Service and click Register.
  6. You will be asked to solve easy-to-answer puzzles to prove that you are not a security robot.
  7. An email will be sent to the email address you used for registration
  8. Open your email and click Confirm Email to complete your registration
  9. Protect your account by enabling 2FA (two-factor authentication)

How to buy Binance coins (BNB):

  1. Log in to your Coinbase account and click Account. Then click Submit at the location labeled ETH Wallet.
  2. Recipient input
  3. Enter a cryptocurrency address such as Ethereum (ETH) from your Binance account
  4. Log in to your Binance account and click Funds> Deposits
  5. Enter the cryptocurrency that requires the address.
  6. Copy it and paste it into the Receiver box of your Coinbase account.
  7. Enter the amount of Ethereum you want to send to your Binance account and click Submit.
  8. Your Binance account is already funded and your balance can be used for transactions.

How to trade on Binance:

  1. Log in to your Binance login account.

2. Click Exchange on the taskbar, select Basic for beginners, and select Advanced for experienced users.

3. Select a trading pair

4. Select the type of trade you want to place, such as limit order, market order, stop limit order, etc.

  • Limit orders allow users to set the highest price they are willing to pay for coins or the lowest price they are willing to sell.
  • Market orders allow users to trade coins at the current market price. This type of transaction is the fastest and easiest.
  • Stop limit orders allow traders to buy and sell coins after reaching a certain price. This type of order is often used by pro traders. Therefore, if you are still a beginner, do not use this type of transaction.

5. Please select the amount you want to trade

6. If you are satisfied with the current market price, click on the market

7. Enter the number of ripples (or coins of your choice) you want to buy.

8. Then click Buy XRP

Binance charges different withdrawal fees for different but still low cryptocurrencies.

Benefits of investing in crypto

Whether you’re investing in Bitcoin, Altcoin, Binancecoin or any other digital currency, the benefits of investing in cryptocurrencies are:

  1. High return

Cryptocurrency investment is a type of investment that is known to provide high returns or profits in addition to stocks. The price of cryptocurrencies like Bitcoin can rise very dramatically.

In just a few months, its value can reach record highs. Bitcoin prices will rise 354% in 2020, outpacing the returns on other financial assets.

With the right strategy, you can buy currencies cheaply, but you can sell them at high prices like stocks.

  1. Universal

The whole world can use cryptocurrencies. Therefore, cryptocurrencies are considered universal because there are no conditions to become a user and even users do not have to use their real names to include personal data.

  1. Fast and easy

Transactions using cryptocurrencies are faster than transactions at banks. For example, an international bank transfer can usually take a day or more. Bitcoin transactions, on the other hand, only take a few minutes to an hour.

  1. Transparent

All cryptocurrency users can see all transactions made. However, of course, because it is in the form of numbers without an ID, the user cannot know who made the transaction.

  1. Can be used as a payment tool in many e-commerce

Bitcoin cryptocurrencies are not common today, but can be used as a means of payment in some digital transactions.

PayPal, the world’s largest online transaction payment tool, already accepts Bitcoin payments. PayPal users can save and trade Bitcoins on PayPal.

It can be used as a payment method for online buying and selling of some international / international e-commerce such as e-Bay and Amazon.

  1. Safe and legal

Cryptocurrency investments have gained legal certainty regarding the legality of Bitcoin transactions in Indonesia, making investments in crypto assets safer in accordance with regulations.

Know the risks and maximize your profits

There are certainly risks behind the ease and benefits of investing, but that does not mean they cannot be avoided or minimized. By understanding the type of investment that is properly selected, from profit, profit to loss, you can make your investment more safely and comfortably automatically.

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