Binanceis a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies, also considered as the biggest exchange in the world in terms of the trading volume. Binance was a pioneer of the Initial Exchange Offerings, and its Launchpad facilitates sales once a month for those who are interested in being early holders of new tokens.
- To sign up, simply navigate to the homepage and click “Register”.
- You will then be asked to enter a minimal amount of personal information (email address, password, and a referral ID if you have one).
- After you fill in the required fields, click “Register” and complete the captcha.
- A confirmation link will be sent to your email address. Once the link is clicked, your Binance account is ready to be used.
To add an extra layer of protection to your account, two-factor authentication (2-FA) is enabled on Binance and is highly recommended to be set up. Once directed to your account page, a prompt will likely pop up suggesting you to enable 2FA, when a new user accesses this page. What is more, Binance allows two methods for enabling 2FA, via SMS or Google Authenticator. You can choose either one that is more convenient for you.
With Binance, users can easily buy Bitcoinor any other major cryptocurrencies with credit/debit cards, especially those issued by Visa or Mastercard. Cryptocurrencies purchase by credit card are limited to BTC, XRP, BNB, ETH, LTC and BCHABC.
Note: There is a minimum processing fee of $10 or 3.5% per transaction, whichever is higher. The newly purchased cryptocurrency will reach your Binancewallet at average 10-30 minutes.
Deposit from Wallet
You can also make a deposit by sending funds from a separate cryptocurrency wallet into your Binance account.
- In order to do this, simply navigate to “Funds” tab and click “Balances”.
- There’s a list of all cryptocurrencies available for trading on Binance. To deposit the corresponding crypto into any of these, simply click the “Deposit” button next to your selected crypto asset.
- Next, either scan the QR code from your cryptocurrency wallet or paste in the address and then send.
- Once that’s complete, kindly wait for the transaction to process and you’ll be ready for trading.
Placing a Trade
Let’s go back to the home page now that your funds are ready to be used. On this page, you will see all the cryptocurrencies that are tradeable on Binance and their respective markets. Let’s say you previously deposited BTC into your account and now wish to trade it for ETH.
Now, just enter the amount of BTC desired to be spent and how much ETH you would want to purchase. The last step is to click on the green button “Buy ETH”. The trade for ETH should have completed instantly, but that is most likely not the case if you selected limit or stop-limit order.
To check on the status of your order, look towards the bottom of the page where there’s a box entitled “Open Order”. As the title would suggest, if your order has not yet executed, in other words, is still “open”, it will appear in this box until it has either been cancelled or filled.
When it has been filled, it will show up in the lower box highlighting your 24-hour order history. If you would like to sell, simply follow these same processes but execute a market or limit sell order.
To withdraw, navigate back to the “Funds” page. Next, click on the “Withdrawal” tab. Paste the address and select how much you want to withdraw. In our example, we would like to withdraw 1 BTC. Lastly, click “Submit” and wait for the transaction to complete.
The Binance Launchpad is the exclusive token sale platform for the most transformative crypto projects― Binance handpicks which tokens to launch based on several factors including project maturity, scalability and adoption readiness, team quality and the ability of the project to benefit the broader cryptocurrency ecosystem.
How does Binance Launchpad work for Projects?
Before a project goes into the Binance Launchpad platform, it goes through a rigorous review process to determine if it passes through Binance’s standard. Some of the factors that will be considered are as follows:
- Relatively mature-stage project development.
- Readiness for large-scale adoption.
- A strong and committed team.
- Potential to benefit the growth and development of the wider crypto ecosystem.
Once a project makes it through this selection process, it then gets featured on Binance Launchpad.
How does Binance Launchpad work for Users?
Here’s a step-by-step guide on how to participate on tokens offering by projects on Binance Launchpad.
- First things first, complete your Binance account verification. This is to ensure that token sales are being done in compliance with regulatory requirements in users’ jurisdictions.
2. Next, go to the Binance Launchpad website to see the projects that have lined up. Do your own research by clicking the project page and study the details. Once you have decided to take part in the token sale, click the “Buy Now” button.
Pro Tips: Be fast. Each user can contribute up to a certain maximum amount in each token sale round. The token sales will work in a “first come, first served” basis and usually run out in just minutes. After the token sale event, users will be credited with the respective tokens to their Binance account.