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Investment in digital currencies is increasing due to its high level of profits. Currently, more than 150 cryptocurrencies are available on different platforms. Among them, the Binance interface has the most daily trades and owns more than 100 digital assets.

If you’re interested in learning more about Binance, you are in the right place. In this article, we have prepared a basic guide so that you can master yourself and understand its interface. So, what are we waiting for? Let’s learn how to get the most of this platform.

The most important

• Binance is one of the most used platforms for trading digital assets. In addition, it offers the lowest commissions in the market.

• Binance's interface is user-friendly and offers a variety of options for you to learn how to invest in cryptocurrencies.

• It’s the only platform that has its own token called Binance coins or BNB. Users who buy it get special discounts.

What you should know about the Binance interface

Binance is a good alternative for people who are leaning towards buying and selling cryptocurrencies. This platform offers various options to trade digital assets. In this section, we will explain more about how it works and we will teach you how to use it correctly.

What the Binance interface is and what it’s for

Binance is a platform specialized in the trading of digital assets and the only one service that has its own token, called the Binance coin. It was founded by Canadian executive Changpeng Zhao. Since its launch in 2017, it has managed to achieve high volumes of purchase and sale of Cryptocurrencies, becoming in a few months one of the most used platforms.

In the Binance interface you can access the following tabs:

• Buy cryptocurrencies. You can do it directly with credit and debit cards. Although it’s possible to do it through P2P (person to person) trading, under the supervision of Binance. You can also operate through other associated platforms, say, Simplex, Koinal, TrustToen, and Paxos.

• Market. In this tab you can view market movements such as currency prices, fluctuations, capitalization, and others.

• Trading. Here you will be able to buy and sell the digital currencies, and you can choose the level of trading (from beginner to expert).

• Derivatives. It’s aimed at people with more experience in investments and leverage.

• Finance. It brings together a set of functions to increase your money.

• Wallet. Shows the total money in your account and investment movements, balance, actions, transactions, etc.

• User. It’s used to manage the privacy and features of your account.

• Commissions. These vary according to the category of the user, their initial base is 0.1%.

How is Binance different from the other platforms?

Binance is the first platform with its own token, called Binance coin or just BNB. This coin was created primarily to facilitate transactions within Binance. In addition, it offers special commercial rates to its users. In turn, it allows the use of other operating systems and digital currencies.

How to register on Binance

Creating an account on Binance is easy and free. You just have to enter an email, create a password and accept the terms and conditions. Then, you must click on the create account option and a verification window will open. In this window you must place the code that came to the email you linked.

Subsequently, you must verify your account to be able to perform any action on Binance. To do this, you must click on "Continue to control panel", located at the top right corner of the page. Another window called security verification will automatically appear and consists of three levels.

Basic Verification

In this first level you must enter your complete data, nationality, address and other personal information. In addition, Binance will allow you to link your account with a mobile number. To activate it, a code will be sent to you by a text message.

Intermediate Verification

In this security mode it’s required to download an authenticator, available on Apple and Android. Then, you’ll be given a password to reset the password. It’s advisable to write it down in a safe place. After that, you must enter the code sent to your email and the application code.

Advanced Verification

As the final step, go to the profile and enter all your information, upload the image of your ID (both sides) and a personal photo. To finish, Binance will ask you for a 10-second facial recognition to confirm all the data provided.

How to protect a Binance account

To use an account on Binance, it’s mandatory to complete security verification. This feature guarantees the level of trust in this platform. However, here are some steps to optimize the protection of your account:

1. Regularly change your password.

2. Keep two-factor authentication turned on.

3. Check the white list of devices linked to the account.

4. Manage withdrawal addresses and use a transaction verification app.

5. Activate your anti-phishing security code.

6. Follow the Binance API recommendations.

7. Activate access to your account only from the linked device.

Advantages and disadvantages of using Binance

When it comes to monetary investments, the pros and cons of the transaction channel must be previously analyzed. For this reason, we have made the following table with information about Binance:

Advantages:

• It’s a free platform.

• Its software is compatible with various devices.

• It’s available in several languages.

• It’s the fastest service in the market and has the highest transaction rates.

• It has a good variety of cryptocurrencies.

• It doesn’t ask for a minimum deposit amount.

• It has low commissions compared to the competition.

• The system is safe and profitable.

• It provides benefits to users who use Binance coins.

Disadvantages:

• Requires preparation for better handling, but it does provide instructional tutorials.

• Sometimes your system gets overwhelmed by the number of transactions.

How to use Binance

In 2019, Binance's interface was updated to reorganize its tools. In this way, its users will be able to administer and manage their investments. In addition, the support option is available to clarify issues, problems and contact the Binance team directly.

Moreover, it’s possible to easily visualize the latest Binance news, the summary of the condition of the market and its values. On the other hand, there’s an optimized security system, basic and advanced trading interfaces.

VIP Binance

This system is composed of 9 levels. The new user starts at level 0 and will go up according to the trade they make. The higher the rank is, the greater the benefits and discounts are. However, to be considered a VIP, certain requirements must be met:

• You must have a minimum of 50 binance coins in your wallet .

• Within 30 days, you must have invested at least 50 bitcoins in spot trades or 250 bitcoins in futures trades.

After completing these requirements, the user must send a message to [email protected]. Finally, Binance account managers will let you know if you are qualified or not.

Binance Academy

It’s a new function of Binance, launched in 2021. More than 280 courses with related topics in economics, technology and computer security are available here. It’s a free service where people can train and get more out of blockchain technology and cryptocurrency investment.

Trading

It’s the most used tool on Binance and allows you to execute various operations, obtaining good results. Compared to other platforms, Binance charges the lowest fees when trading cryptocurrencies. In addition, depending on your experience, you can choose between basic trading and a more advanced one.

Differences between classic and advanced trading on Binance

These trading modalities show the movements of cryptocurrencies. In this way, you can select the type of cryptocurrency that is the most convenient to have high profits. However, they have some differences in accordance with the user profile (beginner or amateur). In the following table we provide the details on the main ones:

Ways to earn crypto without trading on Binance

Binance offers alternatives to earn money outside its platform. In this way, its users will be able to have greater opportunities to grow their cryptocurrencies. However, it’s important that you analyze the characteristics of each one so that you choose the most appropriate one.

• Launchpool

• BSwap

• Staking

• DeFi Staking

• Savings

• Card

These products consist of investing tokens for a certain time. That is, earnings depend on the investment period and currency exchange. For this reason, the most profitable cryptocurrencies should be chosen. Likewise, it’s important to be aware of market movements and detect a price drop in time. In that case, you will have to change the cryptocurrency to avoid losses.

Conclusion

Binance has a variety of financial services on digital assets where you can learn how to generate profits in the cryptocurrency market. In addition, its interface is easy to understand and it’s classified according to the level of user experience. The classic level is more convenient to use and is the best way to get started in this market.

It’s worth noting that Binance has proven to be a safe and reliable platform. Compared to others, it has the lowest commissions. It’s a good alternative for trading and performing other cryptocurrency operations. The best thing is that you can access from the website or the application, being compatible with Android and Apple.