📌 How is buying and selling done on Binance?
Binance is the world's largest cryptocurrency market where millions of users buy and sell Bitcoin, Ethereum, and thousands of other cryptocurrencies daily. If you are creating a new account, it is essential to first understand what methods of buying and selling are available on Binance and how they work.
✅ Methods of buying and selling
1. Instant buy and sell
This is the easiest method.
You can buy or sell it at the current price of any currency.
Example: If the price of Bitcoin is $25,000, you can buy as much as you want at that moment.
2. Market Order
In this option, you can buy or sell immediately.
You do not need to select the price yourself, the system buys and sells at the best price for you.
3. Limit Order
In this, you set the price yourself.
Example: If Bitcoin is $25,000 and you want to buy only if it comes down to $24,500, then you place a limit order.
As soon as the price reaches there, your order will be fulfilled.
. Stop-limit order
This is mostly used by experienced users.
In this, you place orders to control losses or buy and sell at a specific price.
✅ Advantages of buying on Binance
Thousands of cryptocurrencies are available.
Low fees (lower than most platforms).
Transactions are fast and secure.
Easily accessible on both mobile app and web.
✅ Advantages of selling on Binance
Payments are instant.
There are many ways to withdraw money in local currency.
There is a large number of buyers and sellers, so liquidity is very high.
⚠️ Precautions
Always keep two-step verification on.
Never share your secret keys or passwords with anyone.
Do thorough research before buying and selling as the cryptocurrency market is highly volatile.
👉 This article is a complete guide for the average user to easily understand buying and selling on Binance.
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