Binance Spot Trading Tutorial

Binance Spot Trading Tutorial

So now we are in the most important part of this    tutorial. If you explain why, we are now going to buy a coin in the right way. If you have not yet registered properly on Binance, first register here and see how to buy USDT. Okay here also I will clearly tell you how to do this with a smart phone as well as with a computer. The first part of the screenshots below in this article shows the Binance App and the second part shows the screenshot related to the Binance Web Site. If it is not shown in this way, it will be shown in this way when you give Home in the Navigation Menu at the bottom of the App. If it is not displayed in this way on the Binance Website, you can go to the main page of the Binance Website by clicking on the Binance Logo on the left side.

Most of the time, the Home Page of the App and Website contains various information and advertisements about the Cryptocurrency market. At the end of this article you will get the ability to understand the given information correctly. Whether you are an Investor or a Trader, it is extremely important to understand this information. So keep reading this article till the end.
First of all, we will talk about how to look at the information of one cryptocurrency without going to see the information of all cryptocurrencies. For that, provide the Markets on the App or Website as shown in the screenshot below. Next, give Spot (Spot Market on the website). Then give you Fiat (Fiat Market on the website) as I mentioned in the screenshots below and then USDT. If you did as in the previous article, now you have USDT, so when we select USDT here, this shows the coins that we can pay and buy with USDT.

Now you can see the boxed BTC/USDT shown in both screenshots above. If it doesn't look like that, search for BTC in the search box above. BTC is the short name of Bitcoin. Every coin we buy will be displayed on Binance with a short name. So I will explain more about this in a future article. Now click on the boxed BTC/USDT. Then a page will open as shown in the screenshot below. So now there are many things that need to be clarified

inance Trading Interface - Let's understand the details of Binance before trading.

Now let's explain one by one what this information is. At a glance, it seems that the website has more information than the Binance App in the image above. But that's not the case, an app contains all that information. Let's talk about the information in the parts indicated by blue numbers in the above image. We have now chosen Bitcoin(BTC) so we will explain this simple thing in relation to Bitcoin.

Part No. 1

In this section, the current price of the Coin we have selected is indicated by a small number. This always shows us the latest price, which is always increasing or decreasing. Also, the change in the price of this coin in the last 24 hours is shown as a percentage in this section. On the website, it is also shown in dollar value.

Part No. 2

You can see four pieces of information in this section. The first one is shown as High. On the website, it is shown as 24h High. This means the highest price Bitcoin has reported in the last 24 hours. Also Low means the lowest price Bitcoin has reported in the last 24 hours. Vol(BTC) refers to how much Bitcoin was bought and sold in the last 24 hours. Simply put, it is the total amount of bitcoins exchanged in the last 24 hours. It is shown as 24h Volume(BTC) on Binance Website. Next Vol(USDT) is the total amount of Bitcoin exchanged in USDT.

Section No. 3

This chart is a part that we pay more attention to before buying a coin. This allows us to get a very good idea about the price of a coin and its changes. You can see the green and red colors indicating the price changes. We call this type of chart as a candlestick chart. Also, these red and green parts are called candlesticks. So the price of a particular coin changes by creating different patterns with this Candlestick. So, we call the candlestick patterns as candlestick chart patterns. Also, by using this Candlestick Chart and Candlestick Chart Pattern, we have the ability to make a rough idea (Price Prediction) about how the price change will change in the future. So, making predictions about price changes using candlestick chart patterns is called Technical Analysis (TA). So learning Technical Analysis as a trader is extremely important. At the end of this article, I will give you a link to see articles and video tutorials to learn about Technical Analysis and Chart Pattern. 

   

 

Part 4 and 5

These shares show buyco and the Sell Orders List and the Sell Orders List. If further clarifies, the 4th section is buy orders, who have put in buy orders, hoping to buy Bitco purchaser than the price. And the 5th part of the 5th section is the Sell Orders, who have been put in Sell Orders to sell more than selling Bitcoin than selling.

In this article, we will discuss how buy orders and Sell orders.

Part 6

The sixth section shows us the information in the other except BTC. The touch channel is able to take care of the other coin as the BTC / USDT in the BTC / USD.

Part 7 

The Bitcoin in Bitcoin has shown information on buying and selling and calculations. We are now showing all parts of all the parts we have spoken by the Koine. If we select another coin, he will show this information in relation to that COIN. You know the general information of a Cryptocurncyncy through the binance now. In addition, we will talk about the future articles. So let's see how the Bitco buy or another connections. If you buy Coin through the app, give the BUY button below the Screenshot above. Then you can see the first screenshot.

As you can see in the screenshots above, the place surrounded by a red box shows the amount of USDT we have. I have bought 38USDT price to show you first. Also, in the App as well as on the Website, there is a section marked as Limit with a red arrow. When you touch it in the App, it is displayed on the website and it is shown as Limit, Market, Stop Limit. Give the Limit there. Give limit in the same way on the website. In the future, we will talk about the other option, so you can know about it as well. First let's see how I buy a coin with a limit order.

How to buy cryptocurrency step by step

Let's see in this section the correct way to buy Bitcoin through a Limit Order. If the settings are done as you said before, now you will see the above image. It shows you the current price of Bitcoins in the upper part. But imagine that you would like to buy Bitcoin when the price reaches 30,000. Then you should mention it there or type it as 30,000. Simply put, you type the price you want to buy Bitcoin. Next, there is Amount(BTC), where we can specify the amount of Bitcoin we want to buy. Then, when we type Total(USDT), the amount of USDT that we have to spend for that will be automatically calculated. But we can directly type how many USDT BTC we want to buy in the Amount(BTC) field and type Total USDT in the field. For example, if we have 100 USDT in our account, if we buy Bitcoin for 100 USDT, we type 100 where it is Total USDT. Then the amount of Bitcoin that we can buy for 100 USDT will be automatically calculated in the Amount(BTC) field. In this way, when you note the price you want to buy and how much USDT you want to buy, you can see it as in the screenshot below.

Now we need to provide the Buy BTC shown in green below. Then a Buy Order will be created until the BTC price reaches the value you gave to buy. As we talked about earlier in the 4th section, your order will also be added to the Buy Orders List of the Buyers who have placed Buy Orders hoping to buy Bitcoin at a lower price than the current price. That's how a Buy Order is created. You can see the Buy Order created in that way in the screenshot below. So, at some point, when the price of Bitcoin reaches the price you gave, your order is complete (Order Fill) and Buy Bitcoin

Next, we will talk about how to buy Bitcoin at the same time at the current price. Here we use Market Order. We placed a limit order earlier. Now we are going to place a market order. When placing a market order, a buy order will not be created like before, at least we will get bitcoins from the person who is going to sell bitcoins and our order will be filled. Instead of Limit like before, Market itself is given here as in the screenshot below.

Here we directly type in how many USDT BTC we want to buy as Total USDT and give Buy BTC. Then, as I said before, at least the sell order of the person who is going to sell Bitcoin or several Bitcoins and our order is filled. So this is how a Cryptocurrency Exchange works. So now you can buy all other cryptocurrencies as explained. Now you know how to do it. We still have to talk about how to place a stop limit order. I will talk about it in a separate article. I will put it at the end of this article. Also, in the next article, we will talk about Margin Trading, another trading method in Binance. Then we will talk about that method in the next article to earn more money for Spot Tading