Get rich quick: Discover how to make first $1000 with these easy tips!
This step-by-step guide describes how you can potentially earn 60%+ per month.
Good time of day, beginner trader!
This step-by-step guide describes how you can potentially earn 60%+ per month from your cryptocurrency investments by trading on the Binance exchange. The methodology is based on personal trading experience and a variety of other educational resources.
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I want to draw your attention to the fact that this guide is in no way associated with signal trading and is based on my personal trading experience on the exchange.
The guide consists of 4 parts:
- Registration, verification, and general information about working on the Binance exchange;
- Depositing Bitcoin to your Binance wallet and withdrawing funds;
- Trading methodology on the exchange;
- Trading recommendations.
Binance — registration, verification, and getting started To start working on Binance, you need to go to the official exchange website https://www.binance.com and select the appropriate language in the upper right corner, then click on the “Register” button. As a result, the registration form will open, which you need to fill out.
An email with a registration confirmation link will be sent to the specified email address. If you don’t see the email in your inbox, check your spam folder. Also, don’t forget to save your registration details in a notepad.
That’s it, we’ve created an account on the Binance exchange. I would like to remind you that without verification, the investor can withdraw no more than 2 BTC per day. To increase the limit, you need to activate two-factor authentication (done in one minute using the Google Authenticator app for your smartphone), and then upload a scanned copy of your passport, as well as take a photo with the document. Once the account verification is completed, the user can withdraw up to 100 BTC per day.
It’s also important to note that without additional protection (2-factor authentication or SMS verification), you will not be able to perform operations with your funds. This is created for the protection of your account.
How to deposit funds to Binance exchange account?
First of all, we need to log in to our exchange account. It is important to note that the exchange has a unique captcha when logging in. After entering your login credentials, you will need to complete a simple task, which involves dragging the slider (number 1 in the screenshot) to the right until it fits into the puzzle slot. Many people try to drag the puzzle piece itself.
So, we have logged into our exchange account, and like on many other exchanges, there is no option to deposit funds with cards or other payment systems. To do this, we need to deposit cryptocurrency to our balance. In the profile menu, click on the “Estimated Value” button. Here you can see the total amount of all your assets in Bitcoin equivalent.
After clicking on this button, a window will open with two buttons next to each coin: “Withdraw” and “Deposit”. For example, if you want to deposit Bitcoins, select the corresponding command next to this currency.
After that, we will see the address for depositing funds to the exchange balance, copy it, and paste it as the destination address from where you are going to transfer the Bitcoins (from another exchange or exchanger).
If you don’t have Bitcoins, you need to first purchase them for fiat money on another platform. For example, you can use the Bestchange exchanger https://www.bestchange.com. On the left, choose your payment method, on the right, choose Bitcoin. Then select an exchanger and fill in the necessary information step by step, including your address for depositing funds to the exchange balance (copied above).
Send the funds and wait for them to be credited, depending on the exchanger’s regulations, usually taking up to 30 minutes.
Withdrawal of funds is carried out using the same scheme, but on the left, select Bitcoin, on the right, choose your withdrawal method.
Now you can start trading. To do this, go to the “Exchange” tab. New traders are recommended to choose the “Basic” trading center, as the “Advanced” tab has a more complex interface. On the right side, you will see a column with available trading pairs. Select the one you’re interested in. If you have deposited Bitcoin or Ethereum to your account, you will immediately be able to buy a large variety of cryptocurrencies.
On the Binance exchange, traders have access to two types of orders: Limit and Market. When placing a limit order, you need to enter the opening price, the amount of cryptocurrency, and click the buy or sell button. In market trading, only the field for specifying the amount of cryptocurrency will be available for filling. Additionally, by using the Binance exchange’s own token, Binance Coin (BNB), you can save 50% on transaction fees. If you want to take advantage of this offer, buy BNB tokens with Bitcoin or Ethereum and use them for trading on the platform.
When you select the trading pair you’re interested in, click on it and enter the number of tokens you wish to buy in the “Amount” field below the price chart. After that, click “Buy” and confirm the action. After purchasing the new cryptocurrency, you can find it in your wallet. Go back to the “Assets” tab, click “Withdraw” next to the cryptocurrency you just bought, and transfer the funds to your own wallet or another cryptocurrency exchange if needed.
Trading Methodology on the Exchange
The trading methodology involves identifying currencies that are falling, which may sound counterintuitive, but is the key to success. This is because it is easier for a currency to recover to a previously established level than to break through a new one, providing us with 3–5% profit per day.
Let’s break down the methodology into steps:
- Log in to the trading platform and filter pairs by negative change.
- Calculate the volatility of the currency over a 24-hour period using the formula: divide the value of High by the value of Low and subtract 100%. We are interested in coins with volatility of 10% or more.
- Look for the currency on the website https://coinmarketcap.com/ru/coins/views/all/.
- Check its chart:
- Set the period from the start of trading and check if the currency is at its peak (meaning it has not reached the maximum price possible since it started trading).
- Look at the 1- and 3-month charts. We are interested in either an upward or a straight trend. If the currency is falling on the 1-month chart or less, it has not passed quality control, and we move on to another currency.
- If all the above conditions are met, check how often the 7-day chart shows the coin’s price exceeding the current value by 5–7%. If this happens regularly, then you have found it.
5. Place an order to buy the currency, setting the limit purchase price slightly below the current price by a few percentage points.
6. After a successful purchase of the currency, place an order to sell it with a limit price 3–5% higher.
7. Wait for our order to execute and enjoy the profit obtained.
Recommendations for trading:
- Don’t trade with your entire portfolio. It’s better to find several currencies and invest equally for trading;
- Don’t panic. The order may not be executed immediately, but you will get your expected profit at the end of the month;
- Keep an eye on the cryptocurrency market news;
- Mark successful coins by adding them to your Favorites list. When analyzing later, check this list first to simplify your search.
- Don’t trade based on signals. Often they have already come true, or you won’t have time to exit the currency.
- Don’t participate in currency pumps if you’re not the organizer.
- Don’t forget about your orders. Try not to leave orders overnight or for a long time to avoid currency drops.
- Pay attention to the volume of the traded currency. Don’t enter a currency if the volume is less than 100 BTC per day.
For any questions, you can write to me in Telegram private messages — t.me/casinsider_alex
I would also appreciate it if you send me your feedback and earnings in private messages so that I can see your response and continue to develop for you.
My Telegram channel: t.me/casinsider
Wishing everyone big earnings! See you!
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