#TradingTypes101 The BTC/USD pair is a barometer of market | Luner on Binance Square

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#TradingTypes101 The BTC/USD pair is a barometer of market sentiment, reflecting investor attitudes towards Bitcoin's value. 
Its fluctuations have far-reaching implications for the cryptocurrency market.

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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$BTC Things You Need to Know: - They have introduced new laws regulating trading platforms, which require them to meet strict conditions - They do not accept trading without identity; each account must be linked to your real name - A 20% tax will be imposed on profits starting next year - There is a tax exemption if your profits are below around two thousand dollars per year - They have strict rules to protect people from fraud - They limit leveraged trading so that people do not lose money too quickly - They have special requirements regarding stablecoins; they do not accept any unit - They are currently working on their official central bank-linked digital currency Last advice: If you trade with them, use only approved platforms that have an official license to ensure your rights.

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#SouthKoreaCryptoPolicy South Korea continues tightening its grip on crypto regulations. Binance, the world’s largest crypto exchange, is adapting to the evolving landscape to remain compliant. With the Virtual Asset User Protection Act set to be enforced in July 2024, all exchanges must enhance transparency and security. Binance is working closely with Korean regulators to ensure alignment with local laws, including stricter anti-money laundering (AML) policies and investor protection measures. These changes aim to boost user trust and market integrity in South Korea's growing crypto space. Stay tuned for updates as Binance navigates this complex regulatory environment.

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#CryptoCharts101 Focusing on a single coin pair like BNB/USDT can simplify trading, but reading crypto charts incorrectly often leads to poor decisions. Traders frequently misinterpret patterns or rely too heavily on indicators without confirming price action. Entering trades without understanding support and resistance zones can result in buying tops or selling bottoms. Ignoring candle patterns, volume, and trend structure can cause missed entries or false breakouts. A chart may look bullish, but without context from higher timeframes or fundamental news, trades become risky. Patience and consistency are key. Learning chart reading skills and journaling every BNB trade will help build a strategy. Never rush—charts reward logic, not emotions.

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#TradingMistakes101 Chasing the market is a trap many traders fall into. When prices spike, the temptation to jump in for fear of missing out (FOMO) is strong. However, entering trades late often results in buying at peaks or selling at lows, leading to losses. Instead, wait for confirmation signals or pullbacks to enter at better levels. Patience is crucial in trading—stick to your strategy and avoid impulsive moves. Analyze the market calmly and trade based on logic, not emotions. By waiting for the right setups, you increase your chances of profitable trades and avoid costly mistakes driven by market hype.

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#CryptoFees101 Understanding Binance Trading Fees Whether you're a seasoned trader or just starting, knowing how fees work on Binance can save you money. Binance uses a maker-taker model. Makers add liquidity (placing limit orders), while takers remove it (market orders). Fees start at 0.1% for both, but can drop significantly with higher trading volumes or if you use BNB (Binance Coin) to pay fees—giving you a 25% discount! Don’t forget: spot trading, margin trading, and futures have slightly different fee structures. Also, withdrawal fees vary by coin and network, so always double-check before transferring funds. Pro tip: check your VIP level—higher levels mean lower fees. Monitor fee changes and promos on Binance's official fee page.

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