Pool

How to have Crypto in binance, here we will explain 3 simple steps so that you can start having your crypto and so you can participate in future Launchpad or Launchpool.

You will always be able to have the opportunity to participate in one of the previous launch platforms, but you must only have eligible cryptocurrencies for those platforms and thus, in this way, acquire new tokens that will go on the Binance market.

To participate in the Launchpad or Launchpool you only have to have, buy or maintain the crypto that they refer to acquire the new tokens. They are almost always BNB, USDT, BUSD, therefore if you want to participate frequently you must acquire some of these coins and keep them from the beginning. Day 1, in this guide we will explain how to acquire these coins in simple steps.

Spot Market

Trade - Spot section to carry out the operation is in the lower left part of the screen Buy right Sell

This is one of the most used since 2017. Binance offers this service to exchange your crypto or stablecoin and thus be able to acquire them for use, this market is one of the most liquid and active in the world of cryptography.

To do all this you must register in binance, then fill in all your information, and carry out the due process to activate your account, if you already have an account, activate it and only want to buy or acquire the crypto in this way:

Go to the Trade option Spot section, you must choose the commercial pair that you want to acquire or the one that you would need to exchange, for this you always place the pair that you want to acquire, for example: (BUSD/USDT) and choose to buy, then you must place an order by placing the amount you want to buy and at the price you want to buy so you would place a Limit Order to the market in case you make another type of order such as the market order you should only place the amount you want to exchange.

In this way we can observe the spot trading (Left of your screen Buy / Right Sell)

Binance Liquid Swap

Binance Liquidity Farming is a liquidity pool developed according to the AMM (Automatic Market Maker) principle.

This option offers you the opportunity to exchange with lower rates than the spot market, even here it is defined by groups, there are 2 tokens by groups, it can be exchanged as long as there are tokens available.

To use this product it is necessary that in your spot account you have the crypto to use to make the exchange, for this you must go to the Trade option, Swag Farming section and there you can make the exchange for this you must select the token you want to sell When you sell your asset, the system will display information about your operation, this information will be:

Price --

Slippage--

Effective fee (--%)

Swap Fees (--%)

View Rate --

Est. Fee Rebate (--%)

By pressing the button to exchange the purchased crypto, it will appear in your spot account at the moment, and the operation will be carried out in a matter of seconds.

in this way we observe the Binance Liquid Swap we see how it contains all the aforementioned information

Binance Convert

Binance Convert is easy to use, fast, and secure when converting your cryptocurrencies

This product is super simple, it is an instant exchange process, it does not charge you any commission, to use this product you only have to do it with a minimum of 10 USDT and a maximum of 100,000 USDT. It is worth mentioning that the limits of this product may vary depending on the cryptocurrency to be used, here you can choose between many cryptocurrencies, stablecoin, Defi Token, among others.

To start converting you just have to go to the Trade section, and select the Binance Convert Option It takes you to the system section where you will exchange your crypto easily and simply, as in any of the other binance products you must verify that the cryptocurrency to exchange the one you have in your Spot wallet

Then you must choose the currency to exchange and enter the amount of token to exchange in case of making the totality, press Max, this producer has a preview before converting that you will obviously see when converting and you will have 5 seconds to press again to convert into the system is ok, if it spends 5 seconds just update and you will get a new rate in case of currency fluctuations

Again, you will press convert and you will instantly see your tokens reflected in your cash wallet. It is worth mentioning that this product has two options to exchange the currencies, which are:

Market: it is instantaneous because you choose your offer or demand at the price that is at the moment.

Limit Order: You choose at what price you want the transaction to become effective, it will remain for 30 days there, marked after 30 days, it will be canceled by system.

In this way we can observe the market order of the Binance Convert before converting a transaction

In this way we can observe the Limit order of the Binance Convert before converting a transaction

Here we can see a limit Order that I have made and it remains pending, until the token touches the stipulated price, all the information also appears, it expires in 30 days in case of noticing the amount the order is canceled

⚠️This is an Educational post, it is not investment advice, in case you want to make an investment you must do your own research, therefore stay SAFU⚠️

This content was written by Ysidro J Tineo If you like it, like and share and so we can together help and educate more people about the world of cryptocurrencies and the Binance ecosystem, I hope to see you in the comments, and I invite you to follow me so that you are aware of future content to be made, Thank you very much Dear Reader, it was a great pleasure.🚀💛

#Binance #trading #feedfeverchallenge #pool #Convert