Binance is one of the world’s leading crypto exchanges. It offers a wide variety of tools for traders, investors, developers, and enthusiasts of the crypto sphere. 

However, many newcomers find Binance overwhelming, especially when it comes to exploring the website. 

In this article, we’ll break down the interface of the browser version to ease your pain (and gain). With this knowledge in mind, you can easily get around the mobile app, too. In this guide, it’s assumed that you have successfully logged in to the exchange.

The Binance Main page

Here, you can access all sections and take a look at all the functions and services of the platform. 

Under the top section with the banner and quotes, there’s a news feed where you can track all the news and current offers of the platform.

Below you can find trading pairs, price and growth percentage. Scrolling further down the page, you’ll find helpful articles, guides, and other info on using Binance services.

This page makes it easy to follow the course and the latest news.

The top-right menu

In the top-right are Theme, Language/Region, and Currency selection. Even if the website is in English, you can select any currency as your main one. That’ll make it easier for you to understand conversion rates. 

The Downloads button will drop down a QR code to download the Binance mobile application to your smartphone. Click “More download options” to get the desktop app (Windows/macOS/Linux) and the Binance Authenticator app.

The Bell icon shows notifications about deposits, withdrawals, and personal promotions. Click it for a quick view.The Account icon will drop down a menu with your account options. Here you can access your dashboard, learn about your rewards and referrals, check your verification status and pass it for extra protection and advanced trading options.

Dashboard takes you to a page with a detailed breakdown of your financial activity on Binance. Here, you can find information about your ID, a pie chart with your crypto balance, open orders, a fee chart, tasks, and announcements. Also, there’s a referral button on the right side of the page.

API management is an advanced option for programmers and those who want to connect a bot to their account.

The Rewards Center is where you can redeem Binance Coupons. Coupons can give you a trading discount or a monetary gift.

Task Center: here, the user can find information about paid tasks.

The Referral program is a bonus Binance gives you for inviting friends. Copy the link, send it to a friend and have them register via the link, and you will get a share of their trading commission.

Orders

This page shows the history of your open and closed trading orders. Here you can find your entire transaction history, from trading transactions to crypto savings. You can filter them by sections and exchange instruments, and you can also cancel your orders here.

Wallet

Wallet is one of the sections you’ll be using the most. The balance of all your Binance accounts is displayed here. Most often, you’ll need it to buy and withdraw crypto. 

Wallet Overview

On Binance, you have a specific balance for each trading instrument. Spot, Margin, Futures, P2P, Earn, Pool and Vanilla Options — each has its own separate wallet. You’ll have to transfer your funds from your main account to the needed one before you can use it. To do this, use the Transfer button in the top-right. 

Fiat and Spot

This is your main wallet section where you can see your spot (i.e. for trading crypto with crypto) and fiat balance. Here you can deposit and withdraw cryptocurrency, monitor your balance and quickly access the Trade section.

  • Cross Margin, Isolated Margin and Futures are professional tools for advanced traders. To use them, you need to transfer your funds to the related account. 
  • A Pool account is for cryptocurrency mining. This section is now part of the Funding Wallet. 

You can also view other Binance partner services in the Wallet Overview section.

Below, you can see your Transaction History showing the details of transfers, withdrawals of funds, and other operations between your accounts.

The top-left menu

Binance NFT Marketplace

On the Binance marketplace, you can create and trade NFTs. Here you can buy tokens for a fixed price, place bids in an auction, or buy a mystery box with a random mechanic of winning rare prizes.

You can buy all sorts of NFTs on Binance, including Premium, Art, Entertainment, Sports, Gaming, and Esports collectibles.

Finance

This section contains tools that help you work with cryptocurrency even outside Binance.

  • Binance Visa: you can order a Binance cryptocurrency card. Not available in certain regions. 
  • Crypto loans allow you to borrow cryptocurrencies to trade. 
  • Binance Pay is a payment system that allows you to pay for purchases in stores with cryptocurrency.

Binance Earn

Binance Earn is a section where you can generate passive income by staking, farming, loaning out, or investing your cryptocurrency. 

  • The Savings section allows you to make money by loaning out crypto. There’s a Flexible term where you can set your own duration of the stake, and a Locked term where you have to go with one (or one of the two) fixed term with a higher interest rate. 
  • BNB Vault is a distributed investment tool for crypto exchange projects that combine floating-term deposits, BNB DeFi staking and Launchpool. Binance guarantees APY up to 20%.
  • Liquidity farming is a way to provide liquidity to the exchange and earn passive income as a reward. Be warned that this tool is full of risks.
  • Binance Pool is a section for miners. Here you can connect to the joint mining pool and mine cryptocurrency.
  • Launchpad allows you to track Initial Exchange Offerings and buy new and promising coins at a very low price.
  • Staking is a tool for earning rewards from transactions happening on the blockchain. You lend out a portion of your cryptocurrency to the exchange for storage and use.
  • Dual investments: in this section, you can bet on the development of the market by investing two coins at once. You bet on the direction of the price of one asset, and, if you guessed it, you get it back + rewards in the second one. This is an advanced instrument only for those who can accurately predict price movements. 
  • Auto-invest helps you buy cryptocurrencies automatically. You can create a ‘buy plan’ for the selected currency.

Derivatives

Derivatives are trading instruments that allow you to earn on the rise and fall of coins and trade with borrowed funds. 

  • Binance Futures Overview is a section regarding futures trading on Binance. The idea of Futures is that in the future, one party must sell, and the other one — buy, on the terms that were in effect at the time of striking the deal. This tool allows you to buy some coins at an older price.
  • Responsible Trading: here, you can find helpful articles and tools that help investors keep a cool head and retain their capital.
  • USDⓈ-M Futures: the tool allows you to trade cryptocurrency with the stablecoin USDT (the crypto equivalent of USD, always equal to $1 in price).
  • COIN-M Futures is for trading cryptocurrency pairs such as BTC / BNB, BNB / ADA, and many others.
  • Vanilla Options: in this section, the user can choose at what older price to buy an asset in the future. That is possible with a type of contract called Options, which is basically the right to choose something at a certain point going forward. If you’re buying with Options, the seller will have to comply with your choice. 
  • Leveraged tokens make it possible to buy coins that, if calculated correctly, will bring significantly higher profit compared to ‘regular’ ones. Keep in mind that the losses are multiplied, too. 
  • Battle: in this section, you can bet on a decrease or increase in the price of a coin in the next 5 minutes. As the name suggests, you can face off against other users and make profits if you guess it right. 

The Trade section

Trade is the main section for buying and selling cryptocurrencies.

  • Convert is the most convenient way to swap cryptocurrencies for inexperienced users. You only need to select a pair and enter the amount you wish to exchange. Be warned, however, that conversion comes at a ‘mystery’ fee that is calculated right before confirmation and always in Binance’s favour, so best use this option sparingly. 
  • Classic is a tool for beginners. Here you access basic trading features, track the price chart and place orders. 
  • Advanced, as the name suggests, is designed for more experienced users. It has an extensive toolkit for tracking the market and more efficient trading. 
  • Margin: this tool is used by experienced traders to boost profits from their transactions. With Margin, you multiply your potential gains at the expense of multiplied risks.
  • P2P (Peer-to-peer) trading allows you to trade cryptocurrency directly with other Binance users. Pick a payment method, find someone to trade with, exchange your funds outside Binance, and confirm the trade by sending crypto or fiat within Binance. Some users will require you to have a certain amount of crypto on your wallet to be able to trade with them.
  • Strategy Trading allows you to set up and adjust your own automated trading strategies.
  • Swap farming is a quick way to earn small rewards by swapping specific coin pairs on the exchange. According to the official info, you can earn up to 50% of a single swap fee.
  • Fan Token: here, you can buy tokens from your favorite sports team. Token holders receive not only profit from growing shares but also some member privileges.

Markets

The Markets tab allows you to monitor the cryptocurrency market in real-time. You can filter the information by market and token type, field (DeFi, Gaming etc), blockchain layer, and more. Click on “Markets Overview” for a detailed breakdown of top gainers, losers, volume, etc. 

You can also add trading pairs to favorites for quick access.

Buy Crypto

This section lets you deposit cryptocurrency and fiat money on your Binance account. You can do it with a bank card, trade P2P, use Cash Balance or a 3rd party payment service. 

Your options will vary depending on the chosen currency in the top-right corner of the Buy Crypto section (opposite “Pay with”). The fees will also vary by currency and the selected payment method.  

  • A Credit/Debit Card is a fiat deposit to a Binance balance directly from a bank card. If the user needs to transfer dollars from a card, they’ll receive dollars on their Binance wallet. The commission rates for using a debit card are usually lower than those of a credit card. Also, there are the minimum and maximum withdrawal limits. 
  • P2P is a way to refill your Binance wallet without paying commissions. Choose a seller, transfer your money to their bank card (or whatever other payment service you both agree on), after which they send you crypto within the exchange.
  • Third-Party Payments allows you to replenish your balance with the help of Binance trusted partners. The fees also vary from service to service, but you can expect them to be between 1.99% to 3.5% on average.

Services

In this tab, you’ll find an overview of all the services and products of the Binance ecosystem.

  • Exchange is a regular crypto-asset exchange.
  • Academy is where you can find helpful guides, articles and videos about using Binance and cryptocurrency in general.
  • Broker is a solution for trading terminals.
  • Institutional & VIP Services is a section with special offers for large-sum VIP and institutional traders. 
  • Charity is Binance’s own charity initiative where you can become a sponsor. 
  • Cloud is a place for developers to launch their own exchange platforms using Binance technology.
  • DEX stands for Decentralized Exchange. Here, you can trade DeFi tokens and stake cryptocurrencies directly through validators and online wallets supported on the Binance Smart Chain (BSC).
  • Labs is a Binance fund that invests in startups and projects.
  • Launchpad allows you to kickstart your cryptocurrency project and draw investments, as well as buy new tokens at lower prices.
  • Research is a section where you can study detailed information on various crypto-related topics. Here you can find the analytics, token number, idea, roadmap, development efficiency, as well as the website and social networks of a project.
  • Trust Wallet is the official crypto wallet of the Binance exchange.
  • Gift Card is where you can create a customizable cryptocurrency gift. 
  • Binance Live – live broadcasts about all things crypto. 

Leave a Reply

This site is registered on wpml.org as a development site.