Binance quietly doubled minimum trade from BTC to BTC with no announcement or warning about 2 hours ago. Now I'm stuck in a trade that I can't get out of. Thanks a lot Binance:/. Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume BNB Markets BTC Markets ALTS Markets ALL FIAT Markets ALL. Pair Minimum Trade Amount Min Price Movement Minimum . Jun 20, · You can go to Binance’s GNT / BTC trading pair page to place your order. The different options available are Limit (default), Market, and Stop Limit. Making Limit Orders on Binance. The price will be set at the last trade .
Minimum btc trade binanceEth minimum trading amount. : binance
This problem tends to occur on individual trading pairs and only when many orders are placed at one time. The crypto pairs available will vary depending on which coin you use. Ethereum and Binance Coin have a considerable number of altcoins paired against them as well. Meanwhile, Tether is primarily used to exchange for bigger coins like Ethereum, Litecoin and Ripple.
BTC will likely win over as you want the greatest number of trading opportunities to be made available to you. To combat that issue, you can always avoid more fees by selling for USDT when you liquidate your first position.
The price will be set at the last trade price by default. You can manually edit this number and select whatever you would like. Binance also gives you a quick, one-button option for placing limit orders. Also, there are arrows next to the order price which allows you to adjust your bid by one — not very effective in a fast-paced market. Placing a market order is super easy.
You have the option of dividing up your buy-in here too. The stop is the price where your limit order becomes active on the order book. The Limit is the price where your position will be sold. However, if the price recovers enough the position will liquidate at the Limit price regardless of how high it return.
Note: You are only required to hold BNB in your account to have the discount automatically applied. You do not need to trade any BNB crypto pairs and there are no notable benefits of doing so. So, your goal is to always have enough BNB to cover your trading fees. If you scroll down, you will see where the orders can be customized and enabled:.
This is one of the main elements of the interface which we are going to disclose in detail below. On the screenshots below, you can see the Basic Binance trading interface and the way you can use it for your trading activity:.
As you can see, there is an adjustable graph where you can analyze the price change, a table with the orders executed, and the price of the asset you chose to trade with compared to other assets. There are two modes for trading in Binance — Basic and Advanced. The interface of platforms looks almost the same, and the only difference is that in Advanced interface, you can use various Technical Indicators for a deeper analysis.
For example, in Advanced interface you can use Technical indicators like on the screenshot below:. All other features available for traders are the same no matter which kind of interface you use.
Thus, it is better to use the Basic interface until you get deeper into the technical analysis. When you enter the Basic trading interface and choose the trading pair, you should choose type of order. Market order is the simplest operation considering that you purchase specified amount of coins. Choose Market order, and specify the Amount of coins you want to buy on the market price. With a limit order, you can set up the price at which you will buy or sell the coin.
The amount can be specified in the corresponding fields. It was traded for Now we can specify the sum at which you are ready to purchase or sell the coin if you have one. That means the order will be executed on the conditions you specify. Here is how it works:. We also have specified that we buy at maximum of 3 BTC.
As you can see on the screenshot above, we set the price at which BTC is sold, set the amount, but do not set the limit. This function is valuable if you go on vacation or want to prevent losses when you are not able to make orders manually. For example, you cannot set up the trailing stop loss. Though, if you use 3commas trading bot, you can find here advanced features to customize stop-loss orders, including trailing stop loss, stop limit, or limit order.
Consider that no matter whether you buy or sell, there is a minimum trade order size. To figure it out for the BTC on the exchange page, move the mouse on the Trading Rules button, and you will see full info like on the screenshot:. The difference only starts from the moment you have entered the Exchange interface.
At the moment, there are coins supported by Binance. You can see the full list of coins and markets supported by the exchange on the Markets page. Margin trading allows users to operate with larger sums than you have on your account. Recently, Binance has enabled this feature for traders, and now you can use it for your good. Though, it has to be mentioned that margin trading is rather risky. The thing is that here changes in the price of the asset can either lead to greater profits or greater losses.
Thus, if the price of assets decreases on several percents, you can lose your whole deposit at once with margin trading. This feature can be a valuable one for dedicated traders and can lead to great losses for the beginners.
Thus, before you start using margin trading, it is better to get some experience and knowledge. However, this task demands from your advanced coding skills, and there is no simple solution on how to integrate Binance trading to the Metatrader platform. On the other hand, there are solutions like 3commas trading platforms that can easily be adjusted for automated trading even by beginners without any coding. Mobile trading is also available for Binance users. Find the app in the store or get the link from the main Binance website page.
After downloading the app, you need to sign in if you already have an account. Use your current account data to enter the dashboard. The trading process and all other features look exactly the same for the Binance app as for the web version of the exchange.
Choose the trading pair you want from the list or tap the Search button and enter the coin you want to trade:. The trading fee on Binance depends mostly on your activity and BNB balance the amount of Binance coins on your balance. The higher is your trading volume; the lower is the fee. The trading fee is calculated and changed based on your activity in the past 30 days, so it can vary from month to month based on your activity. Thus, if you have a 0. Binance doesn't place any limits on making deposits or executing trades on its exchange, though it does have a daily limit on the amount of cryptocurrency you can withdraw.
To increase your withdrawal limits even further, you'll need to contact Binance. Though you can sign in, execute trades, and make deposits on Binance, you'll have to enable two-factor authentication 2FA on your account before making withdrawals. While users from China have the option of receiving SMS-based authentication to get into their accounts securely, US residents have to rely on Google Authenticator to stay safe from hacks.
Linking your Binance account with Google Authenticator is a straightforward process — download the Google Authenticator app for iPhone or Android , enable it on Binance through your web browser and note the secret key that's provided, then add Binance to your Google Authenticator app. If you'd like a more thorough guide on this topic, be sure to check out the following link.
While transaction times are extremely fast when executing trades on Binance, transfer times for deposits and withdrawals between Binance and your personal wallets can wildly vary from coin to coin.
While lesser known alt-coins like XLM and EOS have snappy transaction times that take only seconds, seasoned coins such as BTC and ETH have been known to take up to five hours or more to transfer, due in large part to the sheer number of transactions being processed on their blockchain.
Like Coinbase, Binance places sole responsibility on its users when it comes to keeping their account and other important personal information secure, as evidenced by Section 2 of their User Agreement. This means you should use security measures such as strong passwords and two-factor authentication to keep cybercriminals out.
Keeping your wallet as secure as possible can't be stressed enough, because once your bitcoins, bitcoin cash, litecoins, or ether are gone, your chances of getting them back are almost zero. To back this up, Binance doesn't currently offer any form of insurance policy to help cover any losses due to hacks and security breaches. In addition to the current lack of insurance to help cover individual losses due to hacks, Binance makes no mention of safeguards and security measures that it may have in place to guard against potential breaches that can result in monetary loss or identity theft.
The closest mention of any security protocols comes to us courtesy of Reddit , which is still pretty vague:. Regarding security, Binance platform is engineered from the ground up with security, efficiency, speed and scalability taken into utmost consideration. The team has decades of combined experience building and maintaining a world class financial systems. Unfortunately, not everyone in the US can technically use Binance to buy and sell digital currencies.
Both New York and Washington states have laws that tightly regulate cryptocurrency exchanges. As a result, several popular exchanges such as Poloniex and Kraken have placed a ban on users with IP addresses that originate from these states. Despite these prohibitions, however, several users from New York and Washington state report being able to trade cryptocurrencies just fine using Binance. This means the popular exhcange has yet to impose an IP address ban for these two states, and as long as residents stay under the radar by not verifying their residences, they should be able to continue to do so.
That said, we highly recommend that you transfer all your cryptocurrency holdings to a secure, personal wallet as soon as possible if you live in either NY or WA. Because cryptocurrency trading on a non-compliant exchange is illegal in those states, Binance might ban your IP Address at any time, which could result in losing all or part of your funds.
Back in March , the IRS declared cryptocurrency as property rather than currency. This clear definition — one that made cryptocurrency akin to stocks and real estate — made bitcoins and alt-coins subject to capital gains taxes. These taxes vary in rates, and primarily depend on how long you hold a virtual currency. In addition to this, the GOP tax reform bill has closed a loophole that previously let you freely exchange cryptocurrencies — such as buying ETH with BTC — without the fear of being taxed.
This is a significant development if you trade cryptocurrencies, as all digital currency transactions can now be taxed by the government. How individual trades will be taxed, however, remain unclear.
As such, we'll update this section as a clearer picture emerges regarding this matter.