What is a Bitcoin? How to trade using binance app ? $BTC
What is Bitcoin?
Bitcoin (BTC) is the first and most well-known cryptocurrency, created in 2009 by an unknown person or group under the name *Satoshi Nakamoto*. It operates on a decentralized network using blockchain technology, where transactions are verified by network nodes through cryptography and recorded in a public ledger. Unlike traditional currencies, Bitcoin isn’t controlled by any central authority (like a government or bank). Its value comes from its limited supply (capped at 21 million coins) and the demand in the market.
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How to Trade Bitcoin Using the Binance App:
Here’s a step-by-step guide to trading Bitcoin on Binance:
1. Download and Set Up Binance
- Download the Binance app from the App Store or Google Play.
- Create an account and complete the identity verification (KYC) process.
2. Deposit Funds
- Go to **"Wallet"** → **"Deposit."**
- Choose a deposit method (bank transfer, credit card, or another crypto).
- Follow the on-screen instructions to fund your account.
3. Buy Bitcoin
- On the home screen, tap **"Trade."**
- Select **"Spot"** or **"Convert"** for direct purchases.
- Choose BTC as the currency to buy.
- Enter the amount and confirm the trade.
4. Trade Bitcoin
- Go to **"Markets"** and search for BTC trading pairs (e.g., BTC/USDT).
- Select the trading pair and choose the type of order:
- **Market Order** – Buy/sell at the current market price.
- **Limit Order** – Set a specific price at which you want to buy/sell.
- **Stop-Limit Order** – Automatically buy/sell when the price hits a certain level.
5. Monitor and Manage
- Track your trades under **"Orders."**
- You can adjust or cancel open orders if needed.
6. Withdraw or Hold
- If you want to withdraw your BTC, go to **"Wallet"** → **"Withdraw."**
- Enter the receiving address and confirm the withdrawal.
