🏗️ How Buy and Sell Orders Work on Binance (Simplified for Beginners)

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📌 Main Types of Orders:

1. Spot Trading:

· Buy or sell cryptocurrency at the current market price.

· Example: Buying Bitcoin (BTC) by paying USDT.

2. Limit Orders:

· Set a specific price for buying or selling in advance.

· Example: "Buy 1 BTC when the price reaches 60,000 USDT".

3. Market Orders:

· Immediate execution at the best available price.

4. P2P Transactions (Person-to-Person):

· Direct buying and selling between users (without a financial intermediary).

· Example: Buying USDT via bank transfer.

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🛠️ Steps to Execute a Buy/Sell Order (Spot):

1. Choose the trading pair (e.g., BTC/USDT).

2. Determine the order type: Limit (specified price) or Market (market price).

3. Enter the required amount.

4. Review the details and then click Buy or Sell.

5. Wait for execution (seconds to minutes).

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⚖️ How is the price determined?

· It depends on supply and demand in the market.

· Each transaction affects the price (if its volume is large).

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🔐 Binance's Role in Transactions:

· Safe intermediary: Ensures the transfer of cryptocurrency between the seller and buyer.

· P2P Guarantee: Holds the cryptocurrency until payment is completed.

· Security Network: Fights fraud and protects users.

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💡 Important Tip:

· Start with small trades until you learn.

· Use Limit Orders to avoid price surprises.

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#Cryptocurrency_Trading #Binance #Beginners

Ask if you have any questions! 🫡