Swap : Binance Liquid Swap provides convenient trading of multiple coins. Enjoy a share of commission on fee transactions by trading assets into the pool. As shown by the arrows below, you may also change between crypto and fiat and also change your crypto deposit or fiat currency deposit. You will need to complete the verification process, however, to deposit fiat currency.
For withdrawals, users may withdraw Binance supported cryptos to external wallets. The Binance platform also supports the withdrawal of fiat money. Binance delivers a high-level of security to users to protect personal information and user assets. Security measures include:. Additionally, Binance also delivers the following measures that complete a comprehensive security suite:.
Here users may also delete unwanted devices. Address Management : Address management allows users to save and write memos for each of the withdrawal addresses. There is also the option to Whitelist, which helps you protect your funds by only allowing withdrawals to whitelisted addresses. Anti-Phishing Code : By setting up an Anti-Phishing code, you will be able to differentiate from Binance emails and phishing attempts.
Account Activity : Provides users with account activity. This is categorized into login activity and security activity. Alternatively, you may submit a support request from the Support section. The Support section is located at the bottom of the Binance Home page as shown below:.
At the bottom of the Home page, there is also a Learn section. Binance delivers comprehensive training guides to teach new users how to buy selected cryptos. Binance provides users with access to a full suite of articles and training guides to help navigate the exchange.
Users may also scroll down to the bottom of the platform page to access the Support Center to access the FAQs. There is also a Binance Academy for users to become well versed in the world of crypto and blockchain. Follow the steps and have photocopies of your ID ready to upload. There is also an advanced varication that uses facial verification.
Click here for full details. You can now buy cryptos using multiple fiat currencies with 0 transaction fees on Binance P2P. Click here for a comprehensive guide on buying and selling on the P2P platform. Flexible Savings is your Crypto savings account. Subscribe your crypto to earn interest, with the flexibility to redeem your funds at any time. Binance is a world leader in the crypto space, delivering users with a mass of products to deep dive into the crypto market.
With one of the largest crypto offerings, global presence, and platform offerings, there are few that can compete. Liquidity and security protocols deliver investors and traders with an impressive platform to trade from. There are few competitors and, with an easy verification process, both novice and more advanced traders are catered for. It is an ideal platform for those looking to trade and for those looking to spend hard-earned cryptos.
Crypto Hub. Economic News. Expand Your Knowledge. Forex Brokers Filter. Trading Tools. Macro Hub. Advertising Disclosure Advertising Disclosure. This page may not include all available products, all companies or all services. Open Account. Bob Mason. Investors and traders can purchase cryptos by: Bank Deposit: Binance supports bank deposits for fiat currencies.
Binance offers multiple trading platforms to cater for different levels of trading experience. See Key Features section. Users can deposit cryptocurrencies from external wallets or use a credit card, or deposit fiat currency. FX risk is removed, as Binance supports the deposit of all of the major fiat currencies. For desktops, the platform is compatible with both, iOS and Windows. Finance: Users may earn rewards by depositing or staking cryptos, and get instant loans secured by crypto assets and more.
See Key Features for details. Binance supports amongst the largest number of cryptos in the market place. The platform not only supports spot trading but also margin and futures trading. Please see the Binance Futures review for more details. Strong emphasis on security, with Binance offering 2-FA and anti-Phishing measures. Charts are powered by TradingView — This gives users access to a wide range of indicators and drawing tools to support technical analysis.
Please refer to the Binance Futures review for details of the futures referral program. The Pros and Cons Pros A user-friendly platform, with plenty of tutorials and support to assist in familiarizing yourself with the platform. Binance offers amongst the widest range of cryptos in the market and a comprehensive range of crypto pairings to trade. High trading volume delivers greater liquidity to Binance traders. Supports the deposit and withdrawals of crypto and fiat money.
Strong emphasis on security, with an array of security measures to protect investor assets. Launchpad gives Binance users access to newly launched coins and tokens. Users can earn interest by saving cryptos and earn rewards for staking cryptos. Multiple trading platforms to cater for different trader experience levels.
Other positives include KYC verification delivering an additional protection layer for Binance users. Cons KYC compliance will be positive for some, while considered negative for traders seeking anonymity. Users are able to trade Bitcoin, however, before completing the verification process. A demo account is only available for the Binance Futures platform. The more advanced trading platforms can be daunting for novice traders while delivering for the more advanced trader.
The Platforms Binance offers the following trading platforms to cater for the more novice and more experienced traders: Basic : This is the easiest way to trade on the Binance exchange. Users can trade Bitcoin, BNB, and hundreds of other cryptos in just minutes. Classic : A standard trading platform that provides users with a more traditional platform to trade from.
The platform includes charts and options to trade with stop loss, by market or limit order, and either spot or with margin. This is where a stop-limit order and a limit order are placed at the same time. When either of the order pairs is triggered, the other order will be canceled. If one is canceled, the OCO pair will be canceled. Additionally, however, there are more trading tools within the charts.
Margin : Allows traders to trade with margin to enhance earnings. OTC : Offers better pricing and fast settlement for larger buy or sell trades. From the dropdown menus, simply select the crypto you wish to convert and enter the amount. Then select the crypto you wish to purchase. Preview the conversion and then complete the trade.
Classic This is the more traditional trading interface providing access to charts. Users also have the option to trade under isolated 10x. Additionally, users that have entered into trades are also able to view: Open Orders. Order Histories. Trading History. Funds Summary. Margin Binance also supports margin trading in order to increase profits. With Binance Margin Trading, users can borrow funds to perform leverage trading. Isolated Margin Mode: Each trading pair has an independent isolated margin account.
Only specific cryptos can be transferred into it, held, and borrowed in a specific isolated margin account. Positions are independent in each trade pairing. If an additional margin is needed, you need to fund the account, it will not be automatically be funded from other isolated or cross margin accounts. Risk is isolated in each isolated margin account. Once liquidation happens, it will not affect other isolated accounts.
Cross Margin Mode: Each user can only open one cross margin account, and all trading pairs are available in this account. Assets in a cross margin account are shared by all positions. The margin level is calculated according to total asset value and debt in the cross margin account.
Once liquidation happens, all positions will be liquidated. Choose whether you wish to buy or sell and then enter the amount that you wish to buy or sell in the trade pairing. You may choose the pairings from the dropdown menus. You will then have the choice to reject or accept the quote.
Charts The Binance platform provides traders with interactive charts to support trading and investment activity. Binance offers users access to 3 chart formats: Original TradingView Depth Users can view and include indicators by clicking the icon shown by the arrow below. Charts are available on the Classic, Advanced, Margin, and Derivatives trading platforms. Balances and Trading History Binance provides users with a comprehensive historical log of all orders, loans, and savings history.
Key features of the Binance platform Wallets: Binance offers users with a comprehensive list of wallets to hold cryptos and fiat currencies on the exchange. Binance Visa Card : Users can convert and pay with crypto worldwide. Payment Methods Binance offers multiple deposit options for users.
These include: Crypto deposit: For users who already own cryptocurrencies supported by Binance, you may transfer these to the Binance compatible wallets. Binance will send you a verification code to your email address. Once your Bitcoin wallet is funded on the Binance exchange you are ready to trade.
You will need to provide the following in order to complete the verification process: Primary country of residence. First and last name. Date of birth. Residential address. Photo of your ID. Selfie to verify your identity. Step 2 : Enter your first and last name, Date of Birth, and residential address. Also, choose your nationality from the dropdown menu. You will now need to verify your identity.
Please ensure that you have your Photo ID to hand. Step 4 : Either upload a file copy of your ID, take a photo of your ID or opt to use mobile if easier. Clear linking rules are abided to meet reference reputability standards. Only authoritative sources like academic associations or journals are used for research references while creating the content.
Well, this guide will tell you everything you need to know! This guide will include methods of how to turn Bitcoin into cash such as bank transfer , PayPal and even through cash deposit! I will show you how to withdraw Bitcoins to cash using a broker namely, Coinbase and through a peer-to-peer exchange. And to make it easier for you, I will also include some helpful images. There are many things to consider when cashing out Bitcoin.
Here are a few:. These are some of the questions that you will need to ask yourself. So, read through the following methods on how to cash out bitcoin and then decide which is best for you. A third-party broker is just another name for an exchange.
Most cryptocurrency exchanges do not allow you to deposit funds using fiat money - however, some do. This is how it works: you deposit your Bitcoin into the exchange, then, once the exchange has received your Bitcoin, you can request a fiat currency withdrawal. The most common way to do this via a bank wire transfer. To make sure brokers do not break money laundering laws , you will need to withdraw to the same bank account that you deposited with. If you have never deposited fiat on to a broker exchange, then you will more than likely need to make at least one deposit first.
If you decide to cash out your Bitcoin using a broker exchange such as Coinbase , then it will normally take about days for the money to reach your account. When selling Bitcoins to other people on LocalBitcoins, you can decide which payment method you want the buyers to use. These include:. LocalBitcoins offer a good level of safety because of their escrow service. This keeps your Bitcoins locked until you confirm the payment has been received from the buyer.
So, now that you know the difference between the two favored methods, I will now show you how to withdraw Bitcoins to cash using broker exchanges! Coinbase is the most popular broker exchange for buying and selling Bitcoin. They process more Bitcoin transactions than any other broker and have a massive customer base of 13 million.
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Learn ICX price prediction First, you will need to open an account with Coinbase , link your bank account, and make a deposit. If you need help on how to do this, view our guide here. If you have already done this, proceed to step 2! Once you have set up your account, you will need to send your Bitcoin to your Coinbase Bitcoin address!
You will then be shown your Bitcoin Coinbase wallet address. This is the address you need to send your Bitcoin to. Next, click on Sell. The next step on how to cash out Bitcoin is in the wallet. Assuming you have now sent your Bitcoin to your Coinbase wallet, you should see your Bitcoin wallet and your default fiat currency here.
This will change depending on where you are located. For example, U. You will also see your withdrawal limit. If you have already verified your account, your limits will be quite high. However, if you need to increase this, click on See Limits and follow the additional verification instructions! Before you can withdraw, you need to exchange your Bitcoin to your local currency. Enter the amount of Bitcoin that you wish to sell, and the fiat currency equivalent will update.
Once you click on Sell Bitcoin Instantly , your funds will now be in your fiat currency wallet. Ok, so we are at the final step on how to cash out Bitcoin to your bank account. Your bank account details will already be saved from when you set it up earlier.
Another popular choice for Bitcoin sellers is Kraken! Kraken is another popular exchange that allows fiat currency deposits and withdrawals. It has been around since , and processes the most Bitcoin to Euro transactions. Now that you know how to cash out Bitcoin using a broker, let me show you how to do it using a peer-to-peer exchange. There are a few to choose from, however, the one I most recommend is Local Bitcoins.
LocalBitcoins was created in and now supports almost every country in the world. So, no matter where you are from, you should be able to find buyers to sell your Bitcoin to. The great thing about P2P is that you can request any payment method you want.
Here are some examples of the different payment methods available on LocalBitcoins:. Sellers who know how to cash out Bitcoin can also choose the price they would like to sell their Bitcoin for. However, if you sell to a buyer that has listed the price they want to pay, there are no fees. There is also a rating system like eBay, where you can leave feedback for the buyer or seller. This helps you to remain safe when choosing a buyer. Local Bitcoins allows you to stay anonymous, too when choosing such payment methods as web money or gift vouchers , especially if you also use a reliable and safe VPN to secure your connection.
However, some sellers decide to ask new buyers those who have no feedback to supply identification. First, you will need to open an account at Local Bitcoins. You can do this by clicking here. Choose a username and a strong password. You also need to enter and confirm your email address. Then you need to choose the country where your ideal buyers are located.
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