If you are looking for a PRESTIGE crypto currency (virtual currency, crypto currency, crypto currency) exchange, LOW transaction fees and GOOD liquidity, then Binance exchange cannot be missed. So how to register for a Binance account ? Let's find out together!
TABLE OF CONTENTS OF ARTICLE
What is Binance Exchange?
Binance exchange is the largest centralized cryptocurrency exchange (CEX) in the world today. Binance was founded in 2018 by Changpeng Zhao (commonly known as CZ).
Official channel of Binance exchange
- Binance homepage: https://www.binance.com/
- The only Vietnamese Telegram channel of Binance exchange: https://t.me/BinanceVietnamese
- Twitter of Binance exchange: https://twitter.com/binance
Why register for a Binance exchange account?
(Create an account and save the above login link in a web browser. Log in to a strange link, spam link will lead to the risk of account hacking!)
- Binance exchange has the BIGGEST 24-hour trading volume in the world ($76 billion) GOOD LIQUIDITY
- There are more than 600 coins/token (virtual currency, cryptocurrency, digital currency) listed on Binance exchange
- Over 90 million users have signed up for a Binance account
- LOW transaction fee <0.1%. Moreover, when you sign up for an account of binanceguide.asia, you only have to pay < 0.08% of the transaction fee. This offer is forever!
- 24/7 support team, support many languages, including Vietnamese.
- P2P transaction: Convenient, easy and safe when buying and selling coins/tokens in VND
- Binance is available on the web and app with a beautiful, smooth, easy-to-use interface
- Large community of Binance users
- Binance There are many financial tools, helping to optimize assets: Binance Earn, Binance Launchpad, Binance NFTs… and SAFU insurance fund
- Binance has been gaining licenses to operate in countries. On March 15, 2022, the Central Bank of Bahrain officially granted Binance permission to operate legally in Bahrain. This is also Binance's first license in the Middle East/North Africa. Recently, on May 4, 2022, the French Financial Market Supervisory Authority (AMF) granted a license to the cryptocurrency exchange Binance: a license to provide digital asset services in France.
The Binance exchange is just one part of the vast Binance ecosystem.
Highlights of the Binance Ecosystem
- Binance Exchange : the leading centralized cryptocurrency exchange (CEX) on the market today with the world's largest 24-hour trading volume (over $76 billion)
- Binance P2P : buy and sell cryptocurrency coin/token with fiat money (VND, USD…) prestige, easy, fast and good liquidity.
- Binance Labs : An incubator fund for blockchain projects. Invest and develop decentralized web projects
- Binance OTC (OTC trading on Binance): OTC liquidity and order matching service (OTC transactions are private transactions, do not go through the steps in normal transactions, so orders cannot be checked. buy or sell)
- Binance Launchpad : a platform for initial public offering of tokens, for example: GAL, STEPN... has brought high profit rates for investors.
- Trust wallet : Official Binance crypto wallet. Trusted and secure crypto wallet. Vi supports buying, storing and exchanging crypto-electronic assets and NFTs. Has attracted more than 25 million downloads.
- Binance NFT : an exchange for buying and selling items, a collection of NFTs.
- BNB is the token of Binance Exchange: Top 5 marketcap (capitalization) in the cryptocurrency market -according to Coinmarketcap
- SAFU Insurance Fund : used in cases of fixing hacked problems…
- Binance DEX : Fast and Secure Decentralized Cryptocurrency Exchange (DEX)
- Binance Research : provides detailed and in-depth analysis of the cryptocurrency sector to users. Binance pledges that this information is transparent and unbiased.
- Binance APIs : Trading API provides testing environment API documentation, and Sample Code in 6 languages. Suitable for HFT, general investors and strategic investors.
Binance Exchange Fees
Binance trading fee is the fee you pay to the Binance exchange when making transactions to buy/sell coins on the Binance exchange.
Binance applies 30-day trading fees to Maker and Taker:
- Regular users (with trading volume < $1 million): 0.1% buy and sell fee
- VIP users (there are many VIP tiers)
Users who hold (hold) BNB coins in the Binance exchange wallet also receive an additional discount on trading fees on Binance.
In particular, enter code 12850929 of binanceguide.asia, you will only have to pay MINIMUM of 0.08% transaction fee (this is a VERY OFFER fee for regular users on Binance)
Instructions to register for a Binance account
What preparation is required to register for a Binance account?
- Commonly used email. Note, email should enable 2-layer security mode to avoid being hacked.
- Smartphone device with Google Authenticator (GA) application installed
- Identity verification documents: ID/CCCD/Passport intact
- A blank sheet of paper with the content: BINANCE and registration date of KYC identity verification (mm/dd/yyyy)
Instructions to create a Binance account on the website
Step 1: Login to Binance select “ Register”
Step 3: Enter your email/phone number to register for a Binance account select “ Next”
- Email: should choose an email address only for Binance account registration
- Password: length > 8 characters, including numbers, uppercase, lowercase letters and special characters (@#$%...)
- Enter Referral ID 12850929 to get 20% off trading fees for life
- If you want to receive notifications from Binance, click on the box “I agree to receive updates from Binance via email”
Step 4 : Enter the verification code (including 6 numbers) in the blank box ⇒ click Submit.
This code is sent to the account registration email, if not found in the Inbox. Please check the Spam folder
Finally, you enter your phone number and enter the verification code sent via SMS ⇒ Send .
You have successfully created a Binance exchange account. Congratulations all of you!
Instructions to create a Binance exchange account on the App (smartphone application)
Step 1 : Download the Binance App (App) on CH Play (for Android operating system) or App Store (for iOS operating system) to your smartphone.
Then open the app. If you want to receive notifications from Binance exchange, select " Allow" , otherwise, select " Don't Allow".
Step 2 : Select “ Sign up with your email or phone” to start creating a Binance account
Step 3 : Fill in nationality: Vietnam select Confirm
Step 4 : Select Create Personal Account (if you are an individual)
For organizations, you choose Create Entity Account (for organizations)
Step 5 : Enter email and password
- Email: the email dedicated to creating a Binance account
- Password: length > 8 characters, including numbers, uppercase and lowercase letters and special characters (@#…)
Enter Referral ID: 12850929 (20% off Binance trading fees for life)
Step 6 : Drag and drop the puzzle pieces to the correct position for Security Verification
Step 7 : Enter the code (including 6 numbers) in the blank box “ Submit”
This code will be sent to the email you used to register your account, check the Spam box if the inbox is not there.
You have successfully registered for a Binance account on the App. To start trading, you must verify your identity with Binance exchange (this is Binance's regulations) according to the instructions below.
Verify KYC (Know your customer) Binance account identity
KYC Verification is KYC (Know Your Customer) is an identity verification process performed by financial service providers, to know who their customers are.
Refer to the KYC identity verification article here: #xac-minh-tinh-tinh-kyc-la-gi/
From August 20, 2021, the Binance exchange issued a regulation: All new and old users who register for a Binance exchange account must complete identity verification (KYC). Therefore, if you do not agree to perform identity verification (KYC) with the Binance exchange, you are not allowed to trade on the Binance exchange.
Step 1: Select “ Security”
At the “ Verify identity” section , select “ Verify”.
Step 2 : Select the country as Vietnam “ Get Started”
Step 3 : Fill in all the information select “ Continue”
Nationality ID (ID card/CCCD card),
- Full name
- Date of birth,
- Postal code (list of postal codes vietnam )
Step 4 : Take 3 photos of ID/CCCD/Passport identification documents
- 1 Front photo of ID card/CCCD/Passport
- 1 Photo of the back of your ID/CCCD/Passport
- 1 Selfie photo including: your face, hand holding ID card/CCCD/Passport + prepared sheet of paper (write BINANCE and registration date for KYC identity verification). The selfie picture must clearly see the face, the edge of the identification document and the hand you are holding the identification document.
Step 5: Upload 3 photos (JPG or PNG format) in order to Binance
So you have completed the KYC Identity Verification step . Now you can top up to trade coins on Binance!
Enable 2-layer security (2FA) Binance account
2-layer security enhances the protection of your account. Therefore, you should install 2-layer security for your Binance account, 2-layer security includes:
- Verify phone
- Verify Google Authenticator
If in the account creation step, you have provided the phone number and received the code, then skip this step!
Please provide your phone number. Then, get the code (including 6 numbers) sent via SMS and fill it in to complete the phone verification step.
Verify Google Authenticator (GA)
Step 1: Download the Google Authenticator (GA) mobile app on the App Store or Google Play. Then select “ next ”.
Step 2 : Use the downloaded Google Authenticator app to " scan the QR code" .
Step 3: Save the backup code (“backup key” ) to restore the account when lost ⇒ select “ Next ”.
Step 4: Go to your Google Authenticator and enter the code.
Note : the Google Authenticator code will automatically change after a few seconds. Don't worry, this code will timeout and a new code will appear. Click “ send ” to be successful
Enhanced security for Binance accounts
- Anti-finishing code : do not share with anyone. Before each withdrawal / deposit transaction, you will have an additional step to enter this code, in addition to the code sent via SMS and the verification code sent via email. Select “ Generate anti-phishing code” to get started
- Enable withdrawal priority list : enter the wallet address that you often withdraw. In case, if there is an order to withdraw/top up your coin to a strange wallet address. Then the system will notify you!
Binance Account Security Notes
Based on personal experience, I have a few IMPORTANT NOTEs about Binance account security as follows:
- DO NOT share passwords (including floor passwords, GA codes, codes sent via SMS) to anyone.
- DO NOT scan strange QR codes, to avoid loss of property. I encountered the following case: When I asked the admin on Binance's official Telegram channel. Admin has not responded yet. Immediately, someone sent an inbox message pretending to be an admin who wanted to support me. This scammer is very sophisticated, he makes the avatar look like the admin image, the user name is almost the same and only adds 1 character. He forwarded the message that the bot often sent about the scam warning on the Binance Telegram channel to him. Then, ask the problem and ask me to SCAN the QR code to help, otherwise the account will be locked bla. bla… i blocked it immediately. Not only me, but anyone who contacted the admin on Telegram received such messages. If you do, it is very likely that you will lose all assets in your account.
- The Binance Vietnamese Telegram channel only provides Binance announcements and has an admin. However, the admin is not always able to see your message due to the message drift and the admin is not the person to directly support you. The only way to get support when having problems is to go to CS on Binance. So anyone who says they're admin and inboxes you first is a scam and outright blocked.
- Always save the GA backup code . In case you lose the device containing the Authenticator (GA) code, you need this backup code to restore GA security.
- The device that installs GA and the phone that receives the message code of the Binance exchange should be different, which will make it more convenient for you in the transaction confirmation process.
- To contact support from the Binance exchange, please click on the icon below, the right corner of the Binance exchange. This is the only safe and only way you can get support from Binance customer care team
- Currently, Binance is not available on ZALO
- REMEMBER: WHO IBOX/PM or CONTACT YOU FIRST IS A SCAM. Binance staff NEVER PROACTLY CONTACT you first.
Instructions for performing transactions on Binance exchange
Deposit and withdraw coins on Binance exchange
Note when depositing and withdrawing coins on Binance exchange
- Check the coin network carefully before depositing/withdrawing coins, the wrong network can lose all coins
- Start depositing/withdrawing coins with SMALL amount and then deposit/withdraw large amount
- Do not share codes sent via SMS, email and GA codes. If you share this code, the hacker will withdraw your coin without anyone being able to assist you to get the coin back.
- See the network fee of the coin you want to withdraw, to calculate the appropriate amount of coin to withdraw
Instructions for depositing coins on Binance exchange
Step 1: Go to “Fiat and Spot wallet” select “ Top up ”
Step 2: Select the coin you want to top up (BTC, BNB, USDT...) and copy the wallet address of that coin
Note: Make sure the network you choose to deposit is the same as the withdrawal network, or you will lose your assets.
Like the example above: I can load BTC from many different networks such as BNB Smart Chain (BEP20), Bitcoin (BTC)… So be careful at this step!
Instructions for withdrawing coins on Binance exchange
Step 1: Go to “ Fiat and Spot wallet ” select “Withdraw ”
Step 2: Select the coin you want to withdraw, enter the wallet address and the amount of coins to withdraw select “ Withdraw”
This step, You should note the network fee of the coin, if the withdrawal amount is equal to the network fee, you will receive 0 coins. Here, I withdraw Bitcoin network BTC, I have to pay network fee of 0.0002 BTC
Step 3: Answer the questions of the Binance exchange correctly, to make sure you understand the possible risks of having your account hacked.
Step 4: Enter the code sent via SMS, email and GA code. Wait a little longer (depending on the network) the coin will be released. When the withdrawal order is successful, the exchange will send a notification at the bell icon and via email to register an account.
Convert trading on Binance exchange
Convert Trading is also known as Swap Trading. This is the simplest way to trade coins. To make this transaction, you must register an account and verify your identity on Binance exchange.
Users will buy coins by converting (Convert) holding coins to one coin quickly. Binance Convert is available on the web and the Binance Smartphone App.
The advantages of trading Binance Convert are:
- No fees
- Committed price
- Trade multiple coin pairs
Binance Convert trading has 2 orders: Market order and Limit order
- Market Order: is an order that is immediately executed at the market price at the time of placing the order
- Limit Orders: to be executed within a set period of time (1 to 7 days)
To get started, do the following:
Step 1: At the Binance homepage, select “ Transactions” and select “ Binance Convert”
Step 2: Select the coin pair you want to convert (convert) and Enter the number of coins you want to convert
Step 3: The order is matched, go to your Spot wallet and fiat to check the coin you just traded
Spot trading on Binance exchange
Usually in the markets of commodities, currencies, stocks and bonds, Spot trades are transactions with instant settlement.
In the field of cryptocurrency (crypto), Spot Trading is the buying and selling of digital assets like Bitcoin (BTC), Ethereum (ETH), BNB (BNB)… with instant payment.
Spot trading has 3 popular orders which are Limit, Market and Stop – Limit orders:
- Market Order: is an order that is executed immediately at the market price at the time of placing the order
- Limit Orders: executed within a pre-set period (1 to 7 days)
- Stop - Limit order (Stop-limit order): is a combination of stop trigge and limit orders. Stop-Limit orders allow traders to set the minimum profit they want or the maximum that they can take on a loss in a trade. Once you place this order and the market meets your order condition, the order will be filled even if you are logged out of the Binance exchange.
To trade Spot, as with other transactions on the Binance exchange, users must have a Binance account and verify their identity with the exchange. Next, you do the following:
Step 1: At Binance homepage select “ Trading” “ Spot”
Step 2: Choose the coin you want to trade
The upper part of the Spot trade consists of the following main sections:
- On the left: display sell orders with the price closest to the market price
- Center: The chart (chart) of the coin, you can adjust the Japanese candlestick chart (as shown) or line (line), add technical indicators: MA, RSI ...
- Right: shows the coin pairs and you can find the coin pair you want to trade, for example: BTC/USDT…
Below is the part of placing buy and sell orders in Spot trading on Binnace
- Zone 1: shows buy orders whose price is closest to the market price
- Zone 2: place orders to buy Spot, users can place orders close to the market price (if they want to buy immediately), lower than the market price (waiting for order matching)
- Zone 3: place an order to sell Spot. Users can place orders close to the market price (if they want to sell immediately), place higher than the market price (waiting for order matching).
- Zone 4: displays the selling price of coin pairs in alphabetical order…
- Area 5 : Displays buy or sell orders that the user has placed. In addition, you can view your transaction history, orders, and capital in this area.
At this point, you just need to select the coin pair and enter the amount and then click BUY/SELL.
Trade Futures on Binance
Futures trading is the trading of contracts that represent the value of a particular electronic. When you buy a futures contract, it means, at the moment, you don't own the asset. What you currently own is a contract with an agreement to buy or sell electronics in the future.
With futures contracts, you can take advantage of price fluctuations to make a profit. With futures contracts, you make predictions about the price of cryptocurrencies instead of actually buying them. Note: High profits come with high risks
At the Binance homepage select Derivatives Binance Futures
Margin trading on Binnace
Margin trading or margin trading on Binance is a way of using funds provided by a third party to trade assets. Compared to a regular trading account, a margin trading account allows the trader to earn more and helps the trader to use the positions. Note: High profits come with high risks
At the Binance homepage select Trade Margin
P2P trading on Binance exchange
P2P trading on Binance is the purchase of cryptocurrencies with fiat currency (e.g. VND) on the Binance exchange. Currently, Binance P2P trading supports buying and selling of the following 10 coins: USDT, BTC, ETH, BNB, BUSD, C98, SLP, ADA, GMT and XRP in VND.
To start, you choose Buy crypto P2P transaction
Note: it is recommended to choose traders (coin buyers) who have verified their identity with Binance exchange, have a high number of orders and % completion (>60%), short transaction time (about 15 minutes)... to trade. Translate.
Q&A with Binance
Some FAQs when creating a Binance account
Why am I not receiving an email from Binance when creating an account?
There are many common causes such as:
- You are not logged in to your email make sure you are logged in to your Binance account registration email
- Your Inbox is full, no new emails are received delete unnecessary old emails, select resend on Binance to resend emails
- New email dropped in Spam/Junk Mail box check Spam box
- Email error refresh email
How do I change the phone number or email of my Binance account?
Step 1: Log in to your Binance account go to user select Security
Step 2: Select Change to change the phone number or email.
Note : when changing email or phone number, the account will be disabled for P2P trading within 24 hours after making the change. Also, do not use the old email to register for a new account within 30 days after the change.
Why complete identity verification (KYC) on Binance?
Identity verification when registering for a Binance account is required when you want to participate in trading and use Binance products and services. Therefore, if you have not done KYC identity verification, do it quickly. Identity verification not only helps Binance identify users, but also enhances the security of your Binance account.
How to block Binance account when suspected of being hacked?
When there is a request to lock your Binance account, you can chat directly with the Binance CS team at one of the following two links:
After contacting, wait for the CS team to respond. Aside from the Binance CS team, anyone who actively contacts you for help or support is a scam.
Some frequently asked questions about Binance exchange
Is Binance a scam?
Binance exchange has a 24-hour trading volume of over $76 billion and has more than 90 million users. Up to now, Binance is the exchange with the largest trading volume in the world. Although, in the past, Binance had problems related to being hacked, but it was fixed by SAFU (Binance's) fund. Binance is working towards Mass Adoption, by obtaining licenses in many countries such as Abu Dhadi, Bahrain, Dubai… and recently Italy.
Is Binance exchange safe?
Binance is one of the safest cryptocurrency exchanges today.
To trade coins on Binance, users are required to Verify Identity (KYC) with the exchange. To enhance account security, Binance supports 2-factor security (2FA): via SMS (sent to phone number), email, and Google Authenticator. In addition, users can create Anti-finishing code and Enable withdrawal priority list to control the withdrawal of coins from the exchange wallet.
What fees do I incur when trading on Binance?
- Deposit fee: Free. However, you have to pay blockchain gas fees. For example, when depositing ETH on Binance exchange, there is a fee for Ethereum blockchain, but no deposit fee on Binance exchange
- Transaction Fees: If you do not use BNB (Binance Coin) to pay for transaction fees, there is a standard transaction fee of 0.1%. However, if you register an account via the code 12850929 provided by binanceguide.asia, you only have to pay 0.08%
- Withdrawal fees: flexible and adjusted to market fluctuations.
Should P2P Trading on Binance Exchange?
P2P trading on Binance is one of the most liquid transactions in the crypto market. Users (KYC) are free to buy and sell coins with fiat currency. The number of people buying and selling coins on P2P is large ⇒ easy to choose buyers and sellers according to demand. Furthermore, Binance is offering free P2P transactions (applicable to individuals)
There are many trades on Binance, which one to choose for newbies?
Existing transactions on Binance: Spot trading, Swap trading (convert), Futures trading, Margin trading, P2P trading, OTC trading (coin trading in bulk)…
For newbies, you can refer to: start buying coins directly through P2P transactions in VND. Then, choose the Convert (swap) trade to convert coins or choose the Spot trade to place an order to buy coins.
Once you get used to these basic trades, it can be challenging with Futures and Margin trading. This type of trading involves a great deal of risk.
Whatever trade you start with, use a small amount (amount to accept loss). No transaction is absolutely safe and gives 100% sure profit. Self-information, capital management and greed will help you when you are just starting to learn about coins.
What is a network address? Error “Address is not valid. Please reconfirm with recipient” mean?
Thank you for following the article How to create a Binance account. See you in the next post!
Disclaimer : Investing in crypto currency (cryptocurrency, cryptocurrency, virtual currency) crypto currency, there are always many risks. This article is for information sharing purposes only and is NOT FINANCIAL INVESTMENT ADVICE. binanceguide.asia is not responsible for your investment decisions!