Features of trading on the Binance exchange

Initially, it is worth noting that two types of trading interfaces work on the site. The developers of the Binance crypto exchange have created them for users with different amounts of experience in order to simplify the work with the system. To make a choice, you need to go to the “Exchange” menu, where you are invited to start working in “Basic”, or “Advanced”. The first option is designed for beginners in this field. The second is for professionals.

Suppose you open the Basic interface on the Binance cryptocurrency exchange. You will see a screen that may not seem entirely understandable to a beginner. But, in fact, everything is quite simple here. There are 5 main areas:

  • stock glass. Even my name, it can be assumed that the statistics of user requests for the purchase or sale of assets are displayed here;
  • schedule. It shows the change in the value of the selected asset for a certain period of time. If necessary, you can change the settings, requesting information for the period of interest;
  • application panel. Here the user submits an application for the purchase or sale of an asset in the volume he needs. It does not take a long time to figure out how to buy cryptocurrency on Binance. Everything is quite simple and clear;
  • currency pair selection. Here you need to choose the tools that will be used on the site for profit;
  • bid history. Shows transactions in the selected direction that are already completed.

After reviewing the blocks yourself, understanding how to trade on Binance will be completely uncomplicated. We considered a simple version of the interface, which was originally designed for beginners in this field, therefore it is simplified as much as possible.

General interface layout

Choosing an advanced interface aimed at people who already have some experience in this area, it is possible to note that the components of the workspace have remained unchanged. The only thing that has changed is their location.

Interface for professionals

The main difference is in the advanced analytical functionality. In order to take advantage of the provided capabilities, just click on the Indicator button.

Important! If you use the Russian-language interface, it will be even easier to start trading. You need to open the tab “Shopping Center” and select the appropriate option.

Let’s talk in more detail about using the panel of applications for the purchase or sale of assets on the Binance cryptocurrency exchange. In two versions of the interface, users can use three types of trading orders:

  1. Limit. It is used in a situation when you need to buy or sell a certain number of digital coins at a specific cost, which should be indicated in the corresponding field. The main point is that you should specify a lower price than the current bid for a purchase, or higher than a sale. Otherwise, the application will not be executed. When the market value of the cryptocurrency reaches the indicators you set, the transaction will be completed. For a long time figuring out how to buy the currency on Binance with this tool is not necessary. Everything is very clear;
  2. Market. The application is executed at the current market value and all that the user must indicate is the number of assets that he wants to buy or sell.
  3. Stop limit. Such an order is the protection of an open position. Here indicators are set at which the application will be executed or placed in a glass initially. You will be able to understand in more detail how the stop limit at Binance works in personal practice. Everything is quite simple here. Indicate the value of the asset at which it can be put in a glass of applications. You should also set the price at which the tool is worth selling. This order is used by experienced specialists who are not the first to trade on the cryptocurrency exchange, who wish to conclude the safest and most profitable transactions. To understand how to put a stop loss on Binance, it is better to use the Russian version of the site if you do not use the instruction in the English version.

These are the main points to learn about the cryptocurrency exchange.

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