Recently, many beginners have encountered various basic issues when using Binance to buy and sell cryptocurrencies, such as:
「Why was I charged a market price fee for a limit order purchase?」
「Why are there multiple trading pairs like USDT, USDC, FDUSD?」
「What is the purpose of the tools in the spot order types?」
And questions about order book interpretation, etc.
This article will analyze the 5 key points that beginners must grasp when buying and selling cryptocurrencies on Binance, helping you thoroughly overcome these troubles!
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One, Analysis of Spot Trading Tools
Binance offers two main tools: 'Spot' and 'Flash Exchange'.
▌ Spot Trading
・Minimum transaction amount: 5 USDT (about 5 USD)
・Supports a wide range of order types: market orders, limit orders, trailing stop-loss, TWAP time-weighted orders, OCO optional orders
・Complete market information: Red indicates sell orders, green indicates buy orders, market depth can be observed
▌ Flash Exchange Function
・Specifically designed for small transactions (＜5 USDT)
・Operation path: APP homepage → 【Trade】→ Top 【Flash Exchange】
・Supports market/limit orders, can buy and sell Bitcoin with 3 USD
>> Web version operation demonstration
1. Go to the top left corner of the official website【Trade】→【Spot】 to enter the trading interface
2. Enter amount (≥5 USDT) → Select order type → Confirm buy/sell
3. For small transactions, please change to 【Trade】→【Flash Exchange and Large Transactions】
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Two, Fee Mechanism and Money-Saving Tips
・Regular user fee rate: 0.1% (the same for limit/market orders)
・ Key cost-saving plan:
Register using the exclusive link → Permanently enjoy a 20% fee discount
Binance registration link: https://www.binance.com/en/join?ref=VIP9988
Invitation code: VIP9988
・Actual fee comparison:
Regular users 0.1% → After exclusive registration 0.08% (equivalent to VIP2 level)
>> ⚠️ It is not recommended to hold BNB for fee savings:
>> BNB price fluctuations may lead to capital losses; beginners should prioritize stable rate discounts
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Three, Differences in Trading Pairs and Selection Strategies
・Example trading pair: BTC/USDT (Bitcoin to USD stablecoin)
・Mainstream trading pair types:
✅ Stablecoin trading pairs (USDT/USDC/FDUSD)
・Advantages: Price pegged to USD, intuitive calculation
・Highest proportion, recommended for beginners to use first
✅ Mainstream coin trading pairs (BTC/ETH/BNB)
・Applicable scenarios: Direct coin-to-coin exchange (e.g., AAVE→BTC without going through USDT)
>> Switch path: Spot interface → Top trading pair menu → Select USDT/USDC and other pricing units
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Four, Practical Teaching of 6 Major Order Types
1. Market order: Immediate execution
✓ Advantages: Avoid missing market opportunities, quickly take profit/loss
⨉ Disadvantages: Slippage when liquidity is insufficient, higher fees
2. Limit order: Execute at specified price
✓ Advantages: Zero slippage, lower fees
⨉ Disadvantages: May be partially filled or not filled
3. Trailing Stop-Loss
・Applicable timing: Lock in profits when holding is floating profit
・Operating logic: Set callback percentage (e.g., 5%), continue to hold if not triggered
4. TWAP Time-Weighted Order
・For large transactions only: Split large orders into batches for execution within a time period
・Advantages: Avoid price impact, obtain average cost
5. OCO Optional Orders
・Simultaneously set take profit/stop loss conditions, achieving one automatically cancels the other order
・Example: BTC current price 108,000 → Set 120,000 take profit + 107,000 stop loss
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Five, Key Points for Interpreting the Order Book
・Red area (sell orders): Sell orders arranged from high to low price
・Green area (buy orders): Buy orders arranged from high to low price
・ Key reminders:
If a limit order is placed above the current buy price, it is effectively equivalent to a market order (still incurs higher fees)
Newbies trading mainstream coins (BTC/ETH) do not need to overly interpret the order book
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>> Call to Action
Regardless of whether you hold cryptocurrencies, it is recommended to register on Binance through the exclusive link:
https://www.binance.com/en/join?ref=VIP9988
・Enjoy the world's lowest fee rate (permanent 20% discount)
・Use invitation code: VIP9988
Saving on fees is profit; the cumulative effect of long-term trading is significant!
