Additionally, users can trade Ether, Bitcoin, Tether, XRP, BNB pairs as well as crypto/fiat pairs on the fiat market. There is a large selection of cryptocurrencies to trade. Binance is one of the easiest trading platforms with a simple and intuitive user interface.
Binance also have no shortage of options with access to nearly 250 cryptocurrencies. Overall Binance is a great option for buying/trading crypto, they recently integrated with SEPA which makes depositing super easy with no fees. On the down side, however, Binance’s platform can be overwhelming for beginners as there are just so many options and due to regulation they have limited options available to US citizens. Their trading fees are super competitive with the maximum being 0.1% (with ways of reducing it).
They’re not overloaded with tins of oscillators, like on many other crypto platforms, but represent only the price fluctuations and the trading volume of different time periods. Why this info is important when analyzing the crypto market? You can see the customers’ trading volume under the candlesticks — they are grey pillars on the graph. The CEX.IO live price charts are intuitively navigated and Binance consist only of essential information needed for trading cryptocurrencies.
Even if you send a large amount of funds, you don’t need to provide tons of documents. So if you want to send money to another part of the world, BNB you don’t need to wait days or weeks as if you were sending funds through the bank system; Crypto transactions are cheap. Most of the blockchains charge less than a dollar to process the digital money transfer. For instance, CEX.IO users should pay only 0.0005 BTC to withdraw coins to another wallet. All you need is a crypto wallet with the needed number of coins on balance and the address of the recipient wallet; On average, BTC transactions need a few minutes to be completed.
So, BNB you've converted 498 Australian Dollar to 0.853483 Binance Coin . April 2022 02:59 PM (GMT). We used 583.491235 International Currency Exchange Rate. You can convert Australian Dollar to other currencies from the drop down list. We added the most popular Currencies and CryptoCurrencies for our Calculator. Selling 498 Australian Dollar you get 0.853483 Binance Coin at 08.
Users are able to trade coins on Liquid swap with little slippage. This is an automated market maker (AMM) platform that is similar in many ways to Uniswap. Liquidity can also be exchanged for a share of fees.
However, verification is needed to increase withdrawal limits, access fiat purchases, and access additional features. The verification process is within the norm when compared to other exchanges. Verification process: Users on Binance are not required to provide verification if they want to exchange cryptocurrencies for other cryptocurrencies.
Choose what cryptocurrency you want to sell and what fiat currency you want to receive; Select the amount and price set or enter your own in the last box; Tap Sell Now, check the details and choose where to send proceeds — to your card or CEX.IO balance; Finally, click Proceed.
You can see two amount boxes — From and To. What you should do next is just select the currencies from the drop-down list and click Exchange Now button. Right after that you’ll have the desired coins or tokens on your CEX.IO account. If you want to exchange Bitcoins to another cryptocurrency, go to the Exchange tab.
Theoretically, the price will soon return to the previous level. So, if you can see a significant increase or decrease in the BTC
price , but the trading volume pillar is lower than many others shown nearby, that means market participants will most likely don’t support this shift. The answer is simple — the higher the trading volume is, the more people (or traders) are supporting the current trend.
You’ll be able to get your hands on stablecoins, while still having exposure to crypto and avoiding taxes for selling coins. Binance also allows users to borrow USDT or BUSD which will be collateralized with ETH or BTC.
Make sure to also diversify your portfolio well with traditional investments like stocks, ETFs and REITs via online brokerages in Singapore. We’ve got beginner and advanced guides for you to start investing in Singapore. Have a read if you’re interested!
Other factors, like network operability and transaction security, are also important, crypto but they rather contribute to the two first mentioned. Finance analytics believe that there are a few main drivers that affect BTC and most altcoins. Because the more people know about the asset, the more they want to buy it. Thus, the news about the technical upgrade could attract more attention to the project so more people read about it and decide to obtain the digital token. The strongest one is probably the global adoption and popularity.