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How to Keep Your Cryptocurrencies Safe

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How to Keep Your Cryptocurrencies Safe

How to keep your cryptocurrencies safe, the first thing you would need to start investing in cryptocurrencies is to set up digital wallet.  The wallet can be likened to a bank account, which can be stored in different devices.

There are countless stories of people losing their cryptocurrencies. In mid-2013 James Howells, an IT worker from Newport, claims to have unintentionally dumped 7,500 bitcoin.

According to a research from Chainalysis, a digital  firm that studies the bitcoin blockchain, 3.79 million bitcoins are already gone for good. Safety is paramount here – you don’t want to build up a small fortune only to lose it all.

A cryptocurrency wallet is a software program that functions to store your private and public keys and interacts with various blockchains. It enables users to send and receive cryptocurrencies as well as tracking their balance.

There are many wallets out there for you to choose from, which is all dependent on your security needs as well as whether you wish to be an active trader or a more passive buy-and-hold-investor.

A wallet has a private and a public key. The private key belongs only to you, and you should never show it to anyone. You must keep it in mind as you sign all transactions with this key.

A public key is a series series of between 26 and 35 alphanumeric characters e.g.

1MJ6Lgd7oJ6LwH1M9X1aZitanHWev1vGxH

Once you have setup your wallet, you can then proceed to purchase and exchange the digital currency of your choice on any platforms.

Read: How to Invest in Bitcoin (2020)

There are hot and cold wallets. There are also warm wallets, but they are used much less often. cold wallets are used to stored money, while hot wallets are used to send and receive the currency quickly.

How to Keep Your Cryptocurrencies Safe?

There are Four main ways to store your coins:

  1. Exchanges
  2. Offline Wallets
  3. Paper Wallets
  4. Online Wallets

Exchanges

An Exchange is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins.

Read: The Best Bitcoin Trading Platform for Mobile Devices

This is the easiest way because you are trading your money on the exchange. However, remember that this is where most of the hacks have taken place. This is why it’s paramount that if you want to hold your coins for the long-term, you store them safely.

Offline Wallets

An offline wallet is also a cold storage or hard storage – this is where you store your private key on a special USB stick and so it is off grid. Once offline, it is almost impossible to hack. This is ideal for those who are non-tech savvy, long-term investors or “HODLers”. Many of them also have built-in backup software in case you lose your keys. These wallets use two factor authentication or 2FA to ensure that only the wallet owner can access the data.

Types of offline wallets:

  • Trezor: TREZOR is a small, key-sized device which connects to your computer with a USB cable. It stores your Bitcoin and cryptocurrency private keys offline and signs transactions.
  • Ledger Nano S: Ledger Nano S is a hardware wallet that is used for the storage of and transactions in popular cryptocurrencies like Bitcoin, Ethereum and other popular altcoins like Litecoin, Bitcoin Cash, and ZCash
  • KeepKey: KeepKey Wallet is one of the oldest and most secure Bitcoin hardware wallets in the world. Launched in 2015, the device is used across the world to secure digital coins and tokens. It does this with the use of advanced technology which protects customers’ funds from remote theft or cyberattacks. KeepKey is a cryptocurrency hardware wallet that supports over 40 different crypto assets.

Paper Wallets

Paper wallets are simply notes of your private key that are written down on paper. Unlike fiat currency, there is no physical representation of a bitcoin or most other cryptocurrencies. They will often feature QR codes so the sender can quickly scan them to send cryptocurrency. Paper wallets are different from so-called “hot wallets” because they operate separately from the Internet. This method has a large number of downsides and should not be used.  You can use sites like bitaddress.org to create a paper wallet. If you print your wallet then store it in a zip lock bag to keep it safe from water. Treat a paper wallet like cash.

Online Wallets

An online wallet is a tool that allows a cryptocurrency owner to receive and send tokens. The bitcoins are easy to spend but are maximally vulnerable to malware or hackers. Most bitcoin wallet software out there is an online wallet.

Types of online wallets:

  • Jaxx Liberty: It syncs to your desktop and your mobile phone so that you can back up the private key. Jaxx wallet is one of the best mobile wallet.
  •  Myetherwallet: MyEtherWallet is a web-based Ethereum and ERC20 token wallet that lets you get direct access to the Ethereum blockchain. This open-source wallet lets users retain their private keys, adding an extra layer of security compared to other web-based wallets.
  •  Blockchain.info:  Blockchain.info is now (blockchain.com) a Bitcoin block explorer service, as well as a cryptocurrency wallet supporting Bitcoin, Bitcoin Cash, and Ethereum. They also provide Bitcoin data charts, stats, and market information. Blockchain.info is one of the most popular crypto wallets on the market with more than 30 million registered private wallets.

Remember that a wallet can be hacked, so any hot storage option carries a certain level of risk. You need hot wallet to add money to your account on the cryptocurrency exchange and to make transactions. They are also use to participate in the ICO.

Read: How to Make Money with Cryptocurrency

If you are planning to trade with your money (not invest), then leave it on the exchange, but if you are planning to hold it longer then it worth keeping it safe in a wallet.

How to Keep Your Cryptocurrencies Safe
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THE 4 MOST POWERFUL CRYPTO TRADING BOTS

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THE 4 MOST POWERFUL CRYPTO TRADING BOTS

 Have you ever wondered why so many crypto dealers give up trading after the first month?  Think about it for a moment and you will see, and agree with me that the main reason is that they make the wrong decisions from trading with the wrong tools and at the worst times, to quitting — these are all the bad situations you probably never want to end up in.  So, stay with me because I’m going to show you the 4 most powerful crypto trading bots that will make you profit.

So, let’s look at what crypto trading bot means.

What exactly is Crypto trading bot?

A crypto trading bot are computer programs that automatically buy/sell or trade various cryptocurrencies on your behalf. Their sole goal is to generate as much profit as they possibly can for their users.

Their decision making is based on the price movements in the market. They analyze market actions based on your tastes and preferences, on various market actions, like price, time, volume and orders.

How did crypto trading bots started?

Crypto trading bot – background history.

Trading bots was first used by Richard Donchian in 1949 when he used a set of rules to buy and sell funds. Then, in 1980s, famous traders like John Henry began adopting the concept of “rule-based trading“. since then, some models were available for purchase.

Also, improvements in technology increases the accessibility for retail investors.

The crypto market is open 24/7 and is highly volatile, which is why the need for crypto trading bots is popular than ever before.

Most people choose to trade bitcoin passively and are unable to dedicate the time required for dynamic market analysis. As such, crypto trading bots will be beneficial for users to conduct efficient trading.

Why are crypto trading bots useful?

  • Crypto trading bots remove fear and emotions from the trading equation by allowing investors to execute trades based on a pre-designed strategy.
  • Since cryptocurrency is volatile and open 24/7, the bots also enable you to run your trading plan 24/7. Instead of you switching from exchange to exchange trading, the bots help you to buy/sell cryptos in one place.
  • It helps traders to stay disciplined when the market is highly volatile. It minimize emotions.
  • The bots allows you to trade efficiently without you hanging to dedicate hung amount of time to market analysis.
  • Automating trading systems allow users to simultaneously trade in multiple accounts which allows them to diversifies their portfolio.
  • Diversifying portfolio allows the users to minimize their risks by spreading the risk over various instrument

Types of crypto trading bots

lets look at the types of trading bot in the market

1. Arbitrage trading bots

Arbitrage trading bots are crypto trading bots that looks for cryptocurrencies to buy for a low price in an exchange and sell on another exchange for a higher price.

It is a trade that profits by exploiting the price differences of exchanges or market inefficiencies. Arbitrage is the simultaneous purchase and sale of an asset to profit from a price difference.

The transaction is carried out in a way that the cryptocurrency amount on both exchanges is equal to the amount before the transaction, while the equivalent amount in fiat is increased by the rate difference.

2. Market making bots

Marketing making bots places limit orders just outside the current buy and sell prices. It does this in an attempt to profit from the spread between the two orders.

Market making bot places several buy and sell orders to net in a quick profit. E.g If Emeka is trading bitcoin for $5, Amaka bot will craete a buy order for $4.99 and a sell order for $5.01.

If both the orders get filled, Amaka will earn a profit of $0.02.

3. Portfolio automation bots

These bots will focus on helping their users to create, obtain, and maintain their desired portfolio, instead of active trading.
Rather than promoting features like signals, arbitrage trading, or algorithmic strategies, portfolio automation bots offers a complete set of portfolio strategies.

Portfolio automation bots provides features for precisely managing your funds across exchanges. By plugging all your exchanges into their unified dashboard, you can systematically segment, track, and monitor your entire portfolio across a wide range of popular exchanges.

4. Technical trading bots

Technical trading bots are known to be preferable to conservative traders, as they use indicators and signals to foresee price movements in the market and generate profit.

This trading bot basically consists of analyzing past market data, mainly price and market volume, to forecast future patterns and directions of the price with the intent of profiting from this insight. These are mathematical calculations, based on past data of a certain asset, which give some insight about potential price directions.

What crypto trading bots can I used?

Crypto trading bots required trust, Since the bot will have control over parts of your exchange account, so you need to be sure that the one you are using is legitimate and proven to be safe.

Also, some trading bots have hiding fees, you have to watch out for hiding fees.

Your trading bot has access to your currency. This can be risky. Use a trading bot that’s widely acknowledge for its security by other users.

Reliability is, therefore, a key when acquiring a crypto trading bots. You can easily miss out on golden trading opportunities if your bot goes offline for sometime.

Transparency is, a key when using crypto trading bots. Go for bots built by reputable developers.

The primary purpose of crypto trading bots is to make cryptocurrency trading easy for everyone. So you should go for bots with an intuitive interface.

There are number of platforms that perform algo-trading (Algorithmic trading) but below are the best crypto trading bots.

The 4 Most Powerful Crypto Trading Bots

1. Cryptohopper

Cryptohopper is a cloud-based crypto asset trading platform. It is one of the most established trading bots in the cryptocurrency space, with a large following of over 200,000 retail and professional traders that have collectively executed over 34,000,000 trades. Their bot is also very easy to pick up for new users.

Cryptohopper is a paid crypto trading bot. Their paid membership have a free trial for 7 days.

Cryptohopper also offers paper trading for those interested in trading “risk-free”

Features:

  1. Easy set up: The bot comes with an intuitive dashboard that only takes about 5 minutes to set up.
  2. External signalers: It’s also one of the few bots embedded with external signalers which allows you to subscribe to professional analysts around the globe – the bot receives the signals directly and uses them in their trades.
  3. Other features include Historical Back testing, Trailing Stop-Loss, Stop-Buy and Stop-Short, Dollar Cost Averaging, the ability to trade using multiple exchanges, configuration templates to create more advanced strategies and Performance Reports to identify the best performing crypto signals and strategies.

Price:

Their plans range in pricing from $19 to $99 per month

Supported Exchange:

Currently, the bot can integrate with most major exchanges that include:

BinanceBinance US
Poloniex.BitFinex
BittrexCoinbase Pro
BitvavaHitBTC
HuobiKraken
KuCoinOKEx

2. 3Commas

THE 4 MOST POWERFUL CRYPTO TRADING BOTS

3Commas is one of the most popular smart trading platforms today. It is an online platform that enable cryptocurrency trading to utilize the benefits of automated trading bots. The platform has been functioning for a couple of years now and hosts thousands of traders. It offers tools for traders to grow profits, minimize risks, limit losses across multiple exchanges. 3Commas is relatively intuitive to use, making it a good option for crypto traders trying out trading bots for the first time. With its smart trade, beginners and even more advanced traders can take advantage of the platform to move their trades forward to more profitable heights.

Features:

  • Create portfolios with any coin amounts
  • Review incomes of other 3Commas users
  • Set up and utilize API functionality on your platform
  • Balance your portfolio by maintaining coin ratios
  • Copy and edit coin ratios in your portfolio
  • Utilize trading signals from Cartelsignals and Crypto Quality Signals Premium and others

Price:

The Starter plan: The starter package for these crypto bots costs from $22/month ($252 for a billing year.

Starter Plan Features:

  • Smart Trading terminal
  • No limits for trading
  • Errors and cancellations notifications
  • Paper Trading
  • Concurrent Take Profit and Stop Loss
  • Access to all available exchanges

The Advanced package plan: The advanced pack is $37/month ($432/year).

Advance Package Features:

  • Smart Trading terminal
  • No limits for trading
  • Simple bots
  • Personal signals Trading View
  • Short and Long algorithms
  • View and copy bots

The Pro package plan: The pro version is $75/month ($888/year).

Pro Package Features:

  • Margin trading bots
  • Bitmex, Binance Futures and ByBit bot
  • GRID bot
  • Smart Trading terminal
  • Simple, Composite bots
  • Personal signals Trading View
  • Full portfolio management

Note: All plans include a free Binance trader subscription

Supported Exchange:

3Commas supports over 12 exchanges and so its users are able to track multiple orders on various exchanges and develop informed trading strategies.

BitFinexBittrex
HuobiCoinbase
GateBinance DEX
BitstampBinance
PoloniexKucoin
BitMexKraken
Note: 3 commas offers free 7 days trial and ability to use it for free

3. Haasbot

THE 4 MOST POWERFUL CRYPTO TRADING BOTS

Haasbot is a cryptocurrency trading bot hosted by the Haasonline Trade Server (HTS). The company was founded by CEO Stephan de Haas,  CEO Stephan de Haas in January 2014, and the company has a transparent executive team which includes CTO Quintus de Haas and CSO Josh Becker.

The company trades hundreds of cryptocurrencies with no fees or volume restrictions. The bot works with multiple exchanges.

Features:

Ease of Use: The great thing about HaasOnline is that the platform considers all user skill levels — it’s both beginner and user-friendly. With Haasbot free, starting is as straight-forward as installing the software on your PC or laptop.

Functionality: HaasOnline requires users to install software on their PC or laptops, and incorporates an intuitive interface and customizable dashboards that appeal to traders of all skill levels. The platform supports both Windows and Linux OS and users can configure bots to automatically makes trades 24/7 and also incorporate a wide range of technical indicators.

Safeties: This is events that trigger a buy or sell to offset significant drops in the market (Price Pump, Deactivate After N Trades). This trade occurs so that the user is protected from any subsequent losses due to large drops in the market. 

Automated trading: In automated trading, technical indicators are used as a basis for forming buy and sell signals. They are used within the technical analysis to analyse supply and demand of cryptocurrency and anticipate future price moves. With HaasBot taking care of trading, you do not have to worry about losing out on opportunities or not responding fast enough, which lifts a huge weight from your shoulders.

Technical Indicators: They analyze market conditions for supply and demand (RSI, Fixed Buy/Sell, Rate of Change)

Price:

HaasBot has a number of different price plans with licenses available for 3, 6 and 12 months.

Beginner Plan: This provides 20+ indicators, 10 active bots, more than 10 insurances and safeties, and access to the majority of exchanges. Some features remain unavailable, such as the visual editor and HaasScript. The plan is 0.047 BTC for 12 months (around $46 per month).

Simple Plan: It is suitable for growing crypto investors who want to get more from the advanced trading platform. This plan gives you access to 20 concurrent HaasBots (or trading strategies), 15+ insurance and safeties, and more than 40 technical indicators.  Certain exchanges and core features remain restricted. The price is 0.083 BTC for 12 months (around $81 per month).

Advance plan: The advance plan Ideal for seasoned and experienced crypto traders. No restrictions on features, bots, and exchanges. The plan is 0.135 BTC for 12 months (around $131 per month).

Haasonline software does not have a free trial. However, you can purchase a discounted two-week trial license.

Supported Exchanges:

Haasbot supports multiple exchanges, which allows traders to stay well-informed and not miss out on a profitable opportunity.

BINANCEBINANCE FUTURES
BITFINEXBITMEX
BINANCE USBITSTAMP
CEX.IOBITTREX
KUCOINCOINBASE PRO
OKEX FUTURESOKEX
POLONIEXOKCOIN
MRAKENHITBTC
HUOBIGEMINI
BITPADA PROIONOMY

4. Shrimpy

THE 4 MOST POWERFUL CRYPTO TRADING BOTS

Shrimpy is a smart automated crypto trading bot designed to manage traders portfolio, let you build custom crypto index funds, follow other peoples strategies, and re-balance profile’s automatically.

The trading bot has been on the market since 2018 and quickly become one of the market leader through their high level of service.

The trading bot supports a total of 16 different exchanges and hundreds of different cryptocurrencies which can be used to develop your very own custom cryptocurrency index fund.

Portfolio automation is something seen often in the traditional stock markets as it can decrease risk and increase profits over time.

Shrimpy is an all in one tool that includes everything you need to automate your crypto trading.

Features:

Shrimpy is perfect for those who want to trade and invest in the cryptocurrency market. It hosts a wide range of features which helps you achieve your cryptocurrency investment goals.

Portfolio Rebalancing: The rebalance feature is a way to make sure your trades are done.

Using the rebalancing technique, you can grow your holding currencies as it automatically helps to buy low and sell high.

Backtesting: Bactesting and rebalancing are very closely related.

Shrimpy backtesting tool lets you test any strategy or index with historical data to see how your strategy would perform.

Social Trading: Image this-you are in a crypto trading space all by yourself no one to share ideas with and talk to.

That’s crazy right?

Well, social trading seems to be the new craze in cryptocurrency trading with several platforms.

Shrimpy social trading platform allowing users to “copy trade” other trader strategy.

The social trading option gives everyone the leverage to interact and build engagements, which is even better for so called social traders.

User who share who their trading strategy are paid $4/month for each person that copies them trading strategy. This is ideal for new traders.

Market Indices: Shrimpy has built a smart indicing tool which lets you create your very own crypto index with multiple different parameters and automatic rebalancing.

This is vital because your trading bot takes note of your own indices and uses the results obtained to decide which particular deals to trade on.

Shrimpy offers different indexing options:

  • Market Cap Weighting: Market cap weighting is simply weighting a crypto index by market cap. The tool will automatically select the top 10 cryptocurrencies by market cap to be put of your portfolio.
  • Equal Weighting: This basically means that the coins you decide to include in your portfolio will have equal percentage. If there are changes in the market cap of your portfolio, Shrimpy will consequently change the portfolio to reflect the equal percentage.

Price:

Shrimpy is currently $13/month when subscribing using the yearly plan and $19/month when using the monthly plan and $16/month for six month straight.

Supported Exchanges:

BinanceKraken
Huobi GlobalBinance US
BitMartBittrex International
BiboxBittrex
KucoinHitBTC
OkEXBitstamp
PoloniexCoinbase Pro
BitfinexGermini

Conclusion:

Trading cryptocurrency isn’t easy. This is because unlike stock market, cryptocurrency market don’t close, they run 24/7. To retain control of trading even in your sleep and to control the volatility of the market, traders are increasingly relying on crypto trading bots.

The good news is that there’s still so much good coming from the crypto space, and I need not mention that just about anyone can take advantage of them and make money with crypto trading bots. No matter whether you are beginners or a professional who wants to take advantage of the crypto market. These 4 most powerful trading bots are the best for you.

You can also read CRYPTO.COM REVIEW: WHAT YOU NEED TO KNOW BEFORE YOU SIGNUP!!!.

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THE 4 MOST POWERFUL CRYPTO TRADING BOTS
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Best Ways to Grow Cryptocurrency – A simple Guide

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Best Ways to Grow Cryptocurrency - A simple Guide


The best way to grow cryptocurrency is to learn how to invest in cryptocurrency.

You may be thinking is not the best time to invest, but really, you have to be discipline enough to hold on to the money you earn.

Investing allows you to significantly grow your cryptocurrency over time.

Example:

If an amount of $5,000 is deposited into an exchange at an annual interest rate of 5%, compounded monthly, with additional deposits of $100 per month, the value of the investment after 10 years is $23,827.28

If you decide to invest without monthly addition, your investment after 10 years with compounding will be: $8,235.05

Why you should invest

Thinking about cryptocurrency investment for the first time may look like such a daunting prospect, especially in the absence of investment advice. The good news is that times have changed now and there is more information than you might consume and there are fewer entry barriers than before.

For instance, Binance, the leading digital exchange, has over 30 million investors who can buy Bitcoin, Ethereum, Litecoin, Binance cash, and Bitcoin Cash at the snap of a finger. There are many market investment funds that give potential investors easy access to different cryptocurrencies. There has never been a time when investing in cryptocurrencies was so straightforward for anyone who didn’t know where to start.

When should you invest

Now that you know why you should invest, when should you invest?

Now is the best time to invest. Right now.

Investing involves risk. we’re all heard about investors who lost half or almost all of his/her money to scam. You can never eliminate risk entirely.

You can significantly reduce risk if you invest wisely.

Short-term Investment

Should you invest in cryptocurrency for the long-term or short-term? well if you look at the growth of cryptocurrency over the past 7 years, it’s clear that holding cryptocurrency seems like the best option.

What is short-term investment?

short-term investment is an investment that’s expected to be held for less than 12 months.

Short-term investing in crypto involves buying up bitcoins when their price reaches a low point and then holding on to it, waiting for the price to go up enough to fit your investment strategy.

When the price is high enough, you sell the bitcoins and pocket the profits. You use that money to buy more bitcoins or some other cryptocurrency to flip (sell) when the time is right.

You have to know a lot about the cryptocurrency market. Also, you must follow every piece of crypto news religiously. You have to be able to predict how relevant news will affect bitcoin price.

Long-term Investment

Investing in bitcoin for the long term would be similar but also different.

This simple means to hold on to your investments. Instead of sitting at your computer all day analyzing charts-you can sit back relax and wait for the price of Bitcoin or cryptocurrency to rise.

You have to hold on to bitcoins for more than a year before you sell for it to count as a long-term bitcoin investment. However, you still need to follow the news to invest in bitcoin for the long-term.

When you invest in bitcoin for the long-term, you are only interested in the long term. Years and decades instead of hours and days.
After investing in bitcoins long-term, you don’t have to sit at your computer tracking the price. You won’t be selling anyway, so what’s the point?

Trading

Many people think of trading as analysis, patterns, and technical modeling, but the trader work is actually a subjective assessment of what is happening in the market.

While you may want to hold bitcoin or cryptocurrency for the long-term, you may also wish to trade them for other cryptocurrencies or fiat currency. This is the fastest way to grow your cryptocurrency, but also riskiest.

To trade for fiat currency, you can simply sell them at the current exchange rate on the exchange you bought them at, like Binance or Kucoin.

Conclusion

Investing in cryptocurrencies is hard, it’s difficult, it’s risky. Once you decide that investing in bitcoin is something you’d like to do after days and weeks of careful research, take a sum of money you would not miss if lost.

Never take out a loan to invest in cryptocurrency because that is a great way to ruin your life. A bitcoin investment is best made with the extra cash you can lose.

Best Ways to Grow Cryptocurrency – A simple Guide
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How to Trade on Binance P2P: The Complete Guide

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How to Trade on Binance P2P: The Complete Guide

Today, I’m going to teach you exactly how to trade on Binance P2P. buying and selling cryptocurrency can be demanding, so it is essential to pick an exchange that you can rely on. It’s additionally important to find an exchange that meets your requirements and isn’t as well made complex to trade. There’s absolutely nothing worse than opening up an account on an exchange and afterward finding it difficult to know just how it functions.

If you’re thinking about opening an account with Binance, then read on…

In this Binance tutorial, I’ll teach you everything you need to know about how to use Binance. I’ll show you how to sign up, how to trade on Binance.

Binance was founded by Changpeng Zhao in China in 2017.  Binance is the world’s largest cryptocurrency exchange by trading volume as well as customers and its cryptocurrency called BNB.

The cryptocurrency exchange first started as crypto-to-crypto exchange before including fiat currency to trade.

currently, now Binance supports 24 different fiat currencies. Binance P2P users can now trade major cryptocurrencies such as Bitcoin (BTC), Etherum (ETH), Binance coin (BNB), Binance USD (BUSD), Tether (USDT), with fiat currencies including Nigeria Naira (NGN), Chinese yuan (CNY), Russian ruble (RUB), and Vietnamese dong (VND), with zero transaction fees.

Note: Fiat currencies are the official currencies of nations.

Customers can upload trade promotions to buy and sell crypto-asset utilizing 24 fiat currencies with absolutely no ad or transaction costs on the Binance mobile app and web.

What is Binance P2P trading?

Binance P2P (Peer to Peer) trading is also referred to as P2P (customer to customer), or (Business to consumer) trading. A peer-to-peer (P2P) trading is a decentralized system where two individuals communicate straight with each other, without intermediation by a third party. Instead, the buyer as well as the seller negotiate straight with each other through the P2P service.
P2P exchanges permit the individuals of the marketplace to trade straight with each other with relying on third party to refine all trades.

Binance is a blockchain ecosystem exchange comprised of numerous arms to offer the higher mission of blockchain improvement and also the liberty of money. Binance Exchange is the leading international cryptocurrency exchange by trading volume, with customers from over 180 countries and regions.

Advantages of Binance P2P trading

Here are several of the advantages that you can anticipate from Binance P2P, which we believe can be the most effective peer-to-peer crypto platform for you.

1. Trade with privacy

Since buyers and vendors alike are proactively looking for people to match their order, a third party is not needed in peer to peer cryptocurrency trading. This supplies the advantage of privacy. Considering that no third party is entailed, just the customer and seller discuss. Interaction between both celebrations is maintained personal.

2. Binance P2P industry is cost-effective and also secure

Binance P2P offers the system for validated buyers and also sellers to broadcast their offers, and a crypto escrow service to ensure the security as well as timely distribution of crypto assets in every trade.

3. It’s very easy to run your own crypto trading procedure with Binance P2P

With the new promotion uploading function on Binance P2P, you now have a lot more methods to buy and sell your crypto asset past the usual trading platform. If you wish to establish your fiat-to-crypto price for the tokens you hold, you can establish an offer with just a few faucets on the web or Binance’s application.

4. Binance P2P supports numerous money, both fiat, and also crypto

Binance P2P is one of the fastest-growing P2P platforms today, with brand-new attributes and improvements released on a regular basis, such as the recent P2P advertisement function. currently, they support 27 fiat currencies and also six cryptocurrencies.

Before you can start trading, you need to first open an account…

How to Open an Account

Step 1. Get registered: First thing’s first, you’ll need to trade on Binance is how to get registered! Go to Binance website, on the homepage click Register. By registering through this link you earn 5% commission every time you make a trade. Click here to register.

How to Trade on Binance P2P: The Complete Guide

 Step 2. Enter your Email and Password: Once you click on register, You’ll be redirected to the registration page where you’ll need to enter your email address and create a password.

How to Trade on Binance P2P: The Complete Guide

Tick I am over 18 and I agree to Binance’s Terms and click Create account.

in the Referral field Use this code to get 5% commission kickback: YHM0FJ5I

Step 3. Verify your email: You will be asked to verify your email. Go to your mailbox, copy the verification code and past it in the Verification field

Congratulations! You’re a Binance account holder.

Step 4. Protect your account: When your login for the first time, you’ll be asked if you want to set up 2FA.

How to Trade on Binance P2P: The Complete Guide

After you’ve set up 2FA, you’ll be ready to fund your account.

How to Fund an Account

After creating an account, you need to fund your Binance account before you can start to trade.

Step 1: Login to your Binance account. On the homepage, you will see I want to spend, in the field box, fill in the amount you want to spend, and the currency you want to spend.

How to Trade on Binance P2P: The Complete Guide

 

Step 2: Input your amount. Once you have fill in the amount you want to spend, then choose the cryptocurrency you want to buy under I want to buy.

Step 3: Select the cryptocurrency you want to buy. After selecting the cryptocurrency you want to buy, click on Buy BTC

How to Trade on Binance P2P: The Complete Guide

Step 4: Select your payment method. You’ll be redirected to the Payment page where you’ll need to select the payment method you want to use.

How to Trade on Binance P2P: The Complete Guide

After selecting the payment method, click Buy BTC

Step 5. Make your purchase. Once you click on Buy BTC, you will be taking to the marketplace if you select P2P payment method but if you select Bank Card payment method, you’ll need additional information before you can fund your account to start trade:

  • You will choose your nationality
  • Select your estimate investment amount and
  • Then click confirm

Step 6. Review. Your account will go through review if your payment method is Bank Card. you will be review to know if you are eligible to use the payment method and it can take up to 2 hours in some cases to be reviewed.

Note: Please that if you select the P2P payment method, you will not have to pass through this process. You will be taken to the marketplace where you make your purchase from any merchant you want.

To create a trade on the Binance P2P platform:

  1. You will need to complete your Level 2 Identity Verification
  2. Post an advertisement

How to Trade on Binance P2P

Step 1: Login to Binance. on the homepage at the top, select spot,  a drop-down menu will show with different types of trading platforms. for the sake of this tutorial, I will use P2P you can choose anyone.

Step 2. Choose P2P: once you have select spot, click P2P, you will be directed to a new page where you can make trade

Step 3.  Select the cryptocurrency you want to buy or sell. Select the fiat currencies and cryptocurrencies you want to buy or sell. Binance P2P currently supports BTC, ETH, USDT, BNB, BUSD, and EOS against 24 currencies.

Step 4. Place your trade. once you have selected the cryptocurrency you want to buy or sell, choose any of the merchants of your choice you want to make trade with, and place your amount and the fiat currency

Step 5.  Click Buy BTC. Once you place your order, a successful message will pop up that your order was successful. You will be directed to the next stage where you will make transfer, click on transfer next.

Step 6. Click confirm. Before you click on confirm, you will need to make a bank deposit to the account number given to you. Once you are sure you have done the transfer, click transfer, Next and confirm to confirm that you have completed the payment.

Once your payment is confirmed. Congratulation you just made your first trade. You can read Binance Exchange: 10 Interesting Facts You Need to Know! You can follow us on Twitter, Pinterest Facebook, and LinkedIn

How to Trade on Binance P2P: The Complete Guide
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Disclaimer: 9ja Informative's content is meant to be informational and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. 9ja Informative receives compensation with respect to its referrals for out-bound crypto exchanges, crypto wallet websites and affiliate links.

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