[00:02] beginning to end. With over 5 years of experience using this platform, I will not only talk to you about the theory, but also about the practice. In that practice I've discovered the best ways to buy cryptocurrencies and, believe me, it's not [00:16] with a plastic card. One topic that nobody talks about is commissions. Did you know there's a simple way to get a 40% discount on commissions from your very first day ? That kind of knowledge is what makes the [00:31] difference in the long run, and today I'm going to share it with you. For your convenience, I'll leave an index in the description with the chapters. Even so, I recommend that you watch the entire video, as some chapters complement each other. Without further ado [00:43] , let's begin. Binance is a cryptocurrency exchange, which was founded in July 2017. An exchange is a digital platform where you can buy, sell, and trade cryptocurrencies. It has over 289 [00:59] million users and is the number one cryptocurrency platform worldwide. On this platform you can buy cryptocurrencies with fiat money, such as pesos or euros. In addition, you can exchange cryptocurrencies with just [01:11] a couple of clicks, trade in the futures market, apply for loans, generate passive income, and much more. And very importantly, all assets on Binance are backed one-to-one. The platform regularly publishes its [01:26] booking proofs to show full transparency. Let's begin the process of creating your account. If you find value in this video, I would only ask that to create or reactivate your account. In this way, you would be supporting the [01:40] channel, that is, at no cost to you. In return, you'll get up to $500 in coupons to pay commissions and also a 20% discount on commissions for life. That 20% can save you hundreds or even thousands of [01:55] link is also part of the strategy I mentioned at the beginning to save you up to 40% on fees. You can email address or phone number. There are also other options such as [02:08] Google, Apple, and Telegram. I would recommend that you do it with your email address and then press continue. They will then send you a six-digit code to verify your email address. The next step will be to [02:20] set a password and your account will be created. The next step will be to verify our account. To do this process, it's best to download in and the first thing it will ask you to do is verify your account. [02:33] For this you will only need a little personal information such as your full name and country of residence. Next, you'll take a picture of both sides of your ID, and the final step will be to perform a [02:45] problems with this process, I'll leave a video with step-by-step instructions in the description. We also have a very similar video on the channel from the mobile app. I'll leave that video up here for you . And well, once [03:00] your account is ready, now we're going to use the platform. The first thing I'm going to show you is some security features, since you're going to be keeping money like I do here, it's important that your account is secure. [03:12] To do this, go to the user icon, press account, and here you will find the security section, where you will find all the available security and two- factor authentication methods. This authentication [03:25] is an additional layer of security when you want to log in or withdraw money, so I recommend that you have it activated. Starting with the password, I suggest you make it a strong password; don't use your name. [03:37] 1 2 3 4. With your email address and phone number, they will send you a six-digit code each time you want to approve a request. But now I'm going to tell you about the two additional security methods that I [03:49] personally recommend the most. One of them is the authenticator application. For this function, I personally use Google Authenticator. This is an application that generates a six-digit code that changes every 60 [04:01] seconds. The authenticator app is much more secure than email and phone number. Finally, I also recommend that you activate the access keys. This is an easier way to log in [04:13] without needing to enter codes or passwords. If you use your mobile phone on iOS devices, you can use facial recognition, while on Android devices it's the fingerprint. Having this feature enabled not [04:26] only gives you more security, but also makes the process of logging in and withdrawing money much easier. If we scroll down further, we'll find advanced security. I have the anti-phishing code activated here. This [04:39] send you an email; that word will appear at the bottom . Something I'm going to activate soon is the emergency contact. This is simply so that you can inherit your cryptocurrencies and [04:53] someone else can access your account if you pass away. The importance security features will really depend on platform. Since I usually keep a good amount of money here, I [05:06] take security very seriously. Now let's get into the exciting topics. Let's look at how to buy cryptocurrencies. I'm going to show you three methods you have to buy cryptocurrencies with fiat money. The term Fiat refers to a currency [05:19] issued by a government entity, such as the peso, dollar, or euro. And the plastic card, such as Visa or Mastercard, also bank transfer and P2P commerce. These methods may vary slightly depending on the [05:33] country you live in, and each one has its advantages and disadvantages. In this video I'm going to show you how each of them works so you can choose the best one for you. Starting with the Visa or [05:46] plastic card you will go to this section that says buy crypto. The purchase section will already be selected automatically here. At the bottom you will select the payment method. Here you will select Visa Mastercard and confirm. [06:01] Here you will see what you are going to spend, which in my case is the Mexican peso. And at enter the crypto you would like to receive. For example, if I want to buy Bitcoin, you enter the amount last. If I wanted to buy about [06:14] 2,000 pesos, I would be receiving this amount of Bitcoin. The next step is to add that card. And to add it, the card must be in your name. You enter the number, expiration date, and security code. And at the [06:26] bottom you put your address. After entering the data, press confirm. It sends me the summary page, showing me what I'm buying, the card, the commission, and the total I'm going to spend. If I agree with this, I [06:38] simply press confirm to buy. The advantage of using this payment method is that it is the easiest of all. With just a couple of clicks you could be buying cryptocurrencies. The downside is the high fees. As you can see, they [06:50] are charging me 40 euros for a purchase of 2,000 pesos. That's 2%. And this use it and I don't recommend it either. I recommend the next two methods more. [07:02] The next method I'm going to talk about is bank transfer. There are two ways to make this purchase with a bank transfer. buy crypto. It will take you to the same page where we bought with a [07:15] is already selected for this payment method . Here you enter the cryptocurrency you want to buy, let's say, Bitcoin. and the amount to buy, let's say, 1,000. Similarly, when you press "buy," it also [07:28] takes me to the summary page. And if I click on continue, it will show me the bank account details so I can make the transfer. Using this method you will pay slightly less in fees. It's around 1.2%. This fee isn't [07:41] high, but I'm going to show you another method to deposit without paying fees. In you will see this button that says " select this option that says " MXN deposit." If you are in Colombia, [07:54] the Colombian peso will appear, and in Argentina, the Argentine peso. In my case, I'm going to deposit pesos and make a Spay bank transfer. And as you can see, this transfer will not generate any fees, which is [08:06] exactly what we are looking for. I press continue and here I will enter the amount I wish to deposit. I can deposit from 50 pesos to 276,000 pesos per put in, let's say, 2,000 pesos. Here where it says account number, I'm going to [08:21] add the bank account from which I'm going to make the deposit. Here in Mexico, it will ask me to enter my bank password, my RFC (tax ID), and my CURP (national ID). After entering that data, I press confirm. The information I request [08:33] also want to clarify that this account must be in your name; you cannot use third-party accounts. After adding that data, we accept the terms and conditions and press continue. And here we have the information we need [08:46] to make the bank transfer. The amount you transfer must be exactly the amount you entered here. Here you have the interbank code, the After you make the transfer, you will go to this [08:59] wallet icon and under the spot section, your national currency will appear here. In Later, in the chapter on exchanging cryptocurrencies, I'm going to show you the two ways you can convert this peso into Bitcoin or [09:13] advantages of making a bank transfer, one of them is that it is quite easy. As you can see, you only press a few buttons. Another advantage any fees. As you may have noticed, it's much better than buying [09:27] crypto with a plastic card. As for the disadvantages, the only downside to this method is that it's only available in countries like Mexico, Colombia, and Argentina, which means you can only deposit the [09:40] may be that by the time you're watching this video it's already available in your country, but don't worry, I have the solution for you. And this is the third method. And in fact, this method that I'm going to show you next is the one [09:53] I personally use the most. And this method is P2P trading. To buy in the P2P marketplace you have two options. Go to this section that says trade and here you will find P2P. Or if you're not going to go to the [10:07] deposit section, you'll find P2P trading there . And both paths will lead you to this page. P2P stands for peer to peer or person to person. P2P trading is the buying and selling of cryptocurrencies directly between Binance users. [10:22] All the ads you see in this section are from people who are selling cryptocurrencies. For that you have two options. First there's the P2P account. Here you will place some filters to select the best option. For [10:36] buying or selling. The purchase section has already been selected here. On this side you select the cryptocurrency you wish to buy. The most traded you wish to buy. The most traded is the UST. The UST is a cryptocurrency [10:49] that maintains its value equal to the dollar. Below you will find your national currency and here you will find all the currencies of Latin America. You will enter the amount you wish to purchase and the payment method you wish to use. These may [11:01] vary slightly from country to country. After you place those filters, Vainas will give you the best options. But there is another way to have all this stuff done automatically. Simply press quick or express. In this section, you're [11:14] simply going to select "buy". Here you choose how much you want to buy. I'm going to buy about 200 Mexican pesos. You choose the crypto you wish to receive. I'm going to leave it in USDT because it offers the best exchange rate. It gives me [11:27] the estimated price of USDT and the commission rate they're going to charge me, which is 0.2%, which is quite low. And here you simply select your payment method. Here, simply choose the payment method that suits you best. I always do it [11:40] by bank transfer. Then I'll select that method. And in this best ads that are available out there . Based on the quantity I want to buy, the best option is this one, this seller called Ave has [11:54] completed more than 2,000 orders with a 100% completion rate. Which is great because he has completed every single order he has been given [12:06] , so I'm going to receive more UST for my Mexican peso. I select the first option, which is the best. These are good, but the first one is much better because of the exchange rate. And I'm going to pay 2,000 and I'm going to receive 107.20 [12:19] US. That operation will take approximately 15 minutes. If I agree, I'll click on update price and then I'll press enter order. An order has now been created. Here a timer appears, showing [12:32] the time I have to make the transfer. I already have the transfer details on this side . I have the amount I am going to pay, the name of the the interbank code and the name of the bank. I also have an internal chat on this side [12:45] in case I need to contact the advertiser, but there's no need I'm going to do right now is pause the video, make the bank transfer, take a screenshot, and I'll be right back. [12:58] transfer, so what I'm going to do is press this transferred button and notify the seller. Here it's going to ask me to upload a screenshot of the transfer, which is why I took the screenshot. [13:11] I transferred from my own account and I confirm. At that time, that screenshot was also sent here to the seller, which is this one. That person needs to verify that the 2,000 pesos are indeed in their account [13:25] . Once the money is in your account, you will release the USDT we bought from you to me . At this point, I'm just going to wait for the USDT to be released and I'll be back in a few moments . It's been about [13:37] a minute and as you can see, I'm getting that notification that I have USDT available. We've been released. If I wish, I can simply send him a thank you message. And to look at our UST, I'm going to go to the [13:50] wallet icon and it's going to be under this wallet that says funds. As you can see, we already have the UST available here. And that's how easy it was to buy on the P2P marketplace. Among the advantages, one of them is the [14:02] commissions. The commission of 0.2% is quite low. Another advantage is the exchange rate. Here you'll basically buy the dollar or the UST at the market price. And the third advantage is that this method is [14:15] basically available to all Latin American countries. It works throughout Latin America. A disadvantage is a risk you may run in very extreme cases, and this is the seller's failure to comply . What happens if you make the [14:28] transfer like we did, but the seller doesn't release the UST to us? controlled risk. All the advertisers you see here will have a low amount of UST available. The amount you see in each of them is [14:42] locked and cannot be withdrawn while an order is open. If you transfer the funds and they don't release them, what you have to do is open a dispute. the pods team will review the case. And if everything is in order, the [14:56] pod team will be released to the UST, even if the vendor doesn't cooperate. This risk really applies in very unusual situations and is very unlikely to happen to you. Now I want to talk to you about depositing cryptocurrencies when you [15:09] want to send crypto to other things from another platform or wallet. To do this, press this deposit button and here you will find the crypto deposit option. Here you just search for the crypto you want to deposit. Since I have USDT, I'm [15:22] going to deposit USDT. Then it asks us to select the deposit network. This network is the way through which the cryptocurrencies we send to vainas will circulate. To find out which network to choose, you will go to the place [15:35] have them from this wallet called Tangem. As you can see, the UST I have is on the Sol network, on the Solana network. Therefore, here in pods I have to make sure I select the same network which is this one. When it [15:50] comes to transferring cryptocurrencies, you only need to make sure of one thing: that the same network sending is the same network receiving; you cannot cross networks. Then we will find the deposit address. Look at this, it's kind of like your [16:02] bank account. You will find it in text and also in QR code. So, in the we're going to press the send button . And here it asks me to put the funds. Okay, I can copy this address and paste it into my phone. The [16:19] other option is to press this small box to scan the QR code. What am I going to do? Once you scan the QR code, the next step is to verify that the address shown here on Binance matches the one [16:31] in my wallet. Then you press next in your wallet, and enter the amount you wish to send. I'm going to send about 200 USDT. I'm going to press next. Here it shows me the commission they're going to charge me for this shipment, which [16:43] is 5 cents. I'm going to press the button that says send on the Solana network. The final step is to place my ring, which is basically a physical wallet that I have to prove the application, and after placing it, the money is already on its [16:56] way. I'm going to talk about this ring, which is a wallet, in the chapter on storing cryptocurrencies. Later, if I go back to my wallet, the funds you send from elsewhere will appear in your [17:08] wallets, I want to talk to you about the internal wallets that you will have within Binance. For some reason, Binance has different wallets, as if to separate assets. The most commonly used is the spot wallet. And here you [17:21] will find the funds that you send from another platform, like the UST we you will also find the FIA ​​money that you deposit, like the 1,000 pesos that we sent. This wallet is where you'll need to keep your money [17:34] exchange cryptocurrencies. Another widely used wallet is the futures wallet. You will use this wallet to trade futures, which I . And we also have the funds wallet. In this wallet [17:49] you will find UST or any cryptocurrency that you buy in the P2P market. And transferring funds between these wallets is very simple and does not generate any fees. For example, I am going to transfer this USDT from the [18:02] funds account to the spot account. I simply press this button that I made to transfer. Here I press this little arrow so that the money goes from funds to the FIA ​​and Spot wallet. I enter the cryptocurrency I wish to send, which is UST. [18:15] Here we put the amount. I'm going to send everything and press confirm. And at this moment that USDT is going to arrive here in my spot wallet. And as you can see here we already have the USD, what we transferred and also what we sent [18:28] the video, I'd like to take this opportunity to ask you to give us a and it helps us a lot. Also, since we're here, I'd like Telegram channel, where we share news and updates about what's [18:43] like to stay informed, I'll also leave a link to our channel in the description of this video. We've already covered how to fund your account, now let's look at how to exchange cryptocurrencies. When you exchange cryptocurrencies, that is [18:57] , move from one crypto to another, you will be operating in the Spot market. This is where you buy and sell cryptocurrencies instantly, at the price they have at that moment. Binance offers two options for making these types of exchanges. If [19:12] you go to the trade section, you will find the spot function and the show you how the convert option works , which is the simplest. Here you only need to enter the cryptocurrency you wish to sell. [19:26] Even here is the Mexican peso, what we deposited from the bank transfer. But for the purposes of this example, I'm going to use the UST. And here you will place the cryptocurrency you wish to acquire. You can even [19:39] buy fiat currency like the Mexican peso, but hey, I'm going to buy Bitcoin. And here you simply enter the amount you wish to purchase. Let's enter $7 and this is the amount of Bitcoin we would be getting, and we press [19:52] preview. Here it shows us a short summary of how much they would be selling me Bitcoin for, and this transaction will not generate any fees. If I want to make that exchange, I just press convert and just like that , we've gone from one [20:04] cryptocurrency to another. This option is very easy to use. The only problem is that they sell you the asset slightly more expensive than it costs on the market. So to get more value for your money, I recommend that you use [20:17] this trade option, the one called spot. If you remember, Bitcoin was sold to us for around $113,000 and right now it's at $112,700. The only circumstance under which I would recommend using the [20:30] show you seems too complicated, but if you follow the interface might look a little intimidating, but don't worry, I'm going to show you how to use the features you'll need to exchange [20:44] to talk to you about symbols like this, what BTC, USDT and some other symbols are that you'll see here. These symbols are unique three- to five-letter abbreviations used to identify each asset on the exchanges. For example, I'm [20:59] called Coing Geeko. Here are listed all the cryptocurrencies and if you look closely you will find the name of the cryptocurrency which is Bitcoin and also its symbol which is BTC. The same goes for Ethereum and its symbol ETH, and so on. [21:13] These are the symbols you'll find on exchanges like Binance. Another thing you'll also find are pairs. Pairs are assets that can be exchanged with each other. For example, if we go to this [21:25] side, we have all the pairs that are available with UST, which basically means all cryptocurrencies, any cryptocurrency you want to buy, you will find it with USDT because it is the most traded. But you'll also find [21:37] pairs with Fiat, such as with Mexican pesos, which are few, but you will find some. I'll tell you about some elements that we don't need, mean. On this side we have the order book. This book displays [21:50] buy and sell orders in real time . Sales orders are shown in red, and purchase orders are shown in green. The seller wants to sell at a high price, and the buyer wants to buy at a low price. And in the middle we have the [22:02] market price, which is what the asset is worth at this moment. And on this side we have the chart that shows how the price of the cryptocurrency has changed over time. Further down we have the section for placing [22:15] time. The first step is to select the asset you want to trade. Since I have USDT, I'm going to look for BTC here to exchange it for USD. And it basically the same one that was already selected, and we slide down and [22:30] in that section is where we are going to place our orders. Since we want to buy Bitcoin, we're going to use this section. Here you will even see the action you are taking, buying Bitcoin, and if you use this section, you will be selling [22:42] make the exchanges, you will basically use two types of orders. We have a limit order and a market order. Let's start with the limit order. With this exact price at which you want to buy the cryptocurrency. Let's suppose that at the [22:57] current price Bitcoin seems too expensive to me and I don't want to buy it at such a high price. I want to wait until it drops, so to speak , to about $110,000. So here I modify this section and put the $110,000. And here I must put how much [23:10] I want to buy at this price. I have $300 USDT available. I am going to place an order for 100 USDT. And if the current price of Bitcoin manages to fall to $110,000, I will have enough to buy this amount of Bitcoin. Then I will [23:25] press buy and this order will automatically be added to the order book. Note that this order will only be executed if the asset, in this case Bitcoin, falls to the established price, which was $110,000. If it never falls, it will [23:40] cancel it, I'm just going to press this little box. Now I'm going to show you the use frequently, and these are market orders. With this type of order, you buy at the current price, and the order is executed immediately. Here [23:55] you can enter the amount you wish to buy, either in Bitcoin or UST. I usually like to keep it in UST so I don't get confused. And now I am going to buy the same $100, but instead of waiting, now I am going to buy it at [24:09] the current price and simply press buy. And that order has already been executed and it is purchased immediately without waiting. And if time passes, I bought, but right now I want to exchange it for Mexican pesos. In my [24:21] case, I simply select Mexican peso here and here I will find the Mexican peso with Bitcoin that is here. I'm going to scroll down and now that I want to sell, I want to sell that Bitcoin I bought and exchange it [24:34] for Mexican pesos, so I'm going to use this section. I simply select the market order so that it executes immediately . On this side, I'm going to leave it in have by swiping to the right. And the amount of Bitcoin I have would be enough [24:48] to buy about 2,000 Mexican pesos. I'm going to click on Bitcoin. It's that simple. that you switch from one cryptocurrency to another. After you trade the assets, you'll go to the wallet icon and [25:01] here you'll find all the cryptocurrencies you exchange. Now I want to talk to you about trading commissions. Every time you exchange cryptocurrencies, moving from one crypto to another, you will pay fees. For example, if you make [25:14] convert function, in this function you will not pay price than it costs in the market. Whereas when you use the spot function, here you will basically buy the assets at what they cost, but you will pay [25:27] regular user who makes less than 0 million in volume per month, we will pay a commission of 0.1%. This applies whether you're a maker or a taker. [25:39] To put it simply, a maker is a creator. This is someone who places limit orders and provides liquidity to the market. While a taker is a taker, it is someone who places market orders and is taking liquidity from the market. That's why [25:53] slightly higher commission, but here at I want to talk to you about futures commissions. If you make less than 15,000,000 per month, you will pay a commission of 0.02% if you are a maker [26:08] and 0.05% if you are a taker. But there are three ways to reduce your fees even further. And here I'm going to talk to you about that 40% discount on beginning. The first one is with the link that I will leave in the description. With this [26:22] link you will get a 20% discount on commissions, which means you will go commissions, which means you will go from a base commission of 0.1% to 0.08%. You can then also get an additional 25% discount by paying the [26:36] fees at BNB. For this, you only need to have BNB in ​​your spot wallet, just like I have this amount here, and that way every time I make an exchange, the BNB fees will be deducted and I will get that [26:51] additional 25% discount. With our code you had already reduced them by 20% and by paying the commissions in BNB you will reduce them by 25%. further. Therefore, reduce them by 25%. further. Therefore, it will go from 0.08 to 0.06. And that's how [27:06] you get that 40% discount. Another way to reduce them even further, but this is a bit more complex. This is how you create a VIP user account. The more trading volume you do, the more you can climb the ranks and reduce your [27:20] speaking of commissions on futures, the discount at BNB is 10%, trading volume, you can reduce them considerably. At this point you've already done the most important thing, which is to invest, to make your first purchase, but now I want to [27:35] talk to you about something else that's also quite important, and that is how to store your cryptocurrencies. In short, there are three ways you can store your cryptocurrencies. One of them is simply leaving them here on [27:47] features we discussed in the mandatory security chapter, your account will be quite secure and you can leave your cryptocurrencies here on the platform. But I want you to be aware of something: if Vainas is mismanaged [28:00] or hacked, you could compromise your cryptocurrencies. Inside pods, your cryptocurrencies will be as safe as the platform itself is secure. That's why it's always best to send your crypto assets to a [28:12] wallet. There are mainly two types of wallets. One of them are hot wallets or wallets. An example of that type of wallet is like the wallet I have here, this one called Exodus. This is a [28:24] to your phone, then save the recovery data and it will be ready to use. These wallets are quite secure. The only problem here is that if you're careless, your phone gets hacked, or you reveal the [28:37] could access your money. There is no customer service in the wallets. For example, on Binance, if you forget your password, you can simply by contacting support. Here at the wallets, you are 100% responsible for [28:51] your money. Other types of wallets are cold wallets or hot wallets. this one I have here called Tangem. application that you download, but they are best accompanied by a physical device. In [29:05] this case, they can be cards or like the ring I mentioned at the beginning. Unlike the others, cold wallets are not connected to the internet, and every time I want to make a withdrawal, I have to have the physical device [29:17] to verify the request. These types of wallets are the most secure money here. To learn more about storing cryptocurrencies, I'll leave a link in the description to a full video I have [29:29] on how to store cryptocurrencies. These types of wallets, being physical, are obviously not free; they have a cost. For example, the Tangem Wallet, hands right now, comes in a set of three cards like the ones you see here in my [29:42] hands. And those cards, usually all three, are priced at $69. If you're wallets, I'll leave a code in the description, which is seven discount on the wallet. And [29:55] currently, you can also temporarily get an extra 5% off, which will reduce the price to 59.42. In fact, those cards come in different designs and different colors. The one that comes in the form of Bitcoin, the [30:08] limited edition, currently has a discount and if you order it now with the code it costs $50. In fact, this one is cheaper. I personally don't like it that much because these colors are very flashy. I personally [30:20] prefer one of the black ones that doesn't have any logo so I don't go around shouting this ring I have in my hands, which somewhere and simply bring it closer to test transactions, they also [30:32] currently have an offer. This ring is only worth $160. There is currently a promotion that gives you a 10% discount with our code and a 15% discount with the code 15% off ring. This 15% discount code will only be [30:47] available until September 30th. So if you order it during that month, it will only cost you $10. Similarly, if you want to learn leave a full video in the description . And well, speaking of storing [31:00] withdraw cryptocurrencies, how to send crypto from there to a wallet. So cryptocurrency here in your Spot wallet, I'm going to withdraw part of this UST. Below those three dots I have the remove button. Or else, [31:14] I'll simply find this button at the top that says "withdraw". want to withdraw. I'm going to leave UST. Then here where it says "withdraw address of the place where you want to send them. In my case, I want to send them [31:29] to my Tangem wallet. Then, I log into the wallet and here I have networks. I have the option of the Solana network, the Avalanch network, and many others. So, I need to make sure that the network I [31:42] want to send it to supports it. Here where it says networks you can find all the networks that pods support and in fact it does have Solana and it also has simply have to make sure you're using the same network. For example, here [31:55] Solana network. Therefore, when I put the net in pods, it has to be the same net. If I cross the networks, I could be losing or compromising my wallet I'm going to press the receive button and it will give me the [32:09] deposit address in the form of a QR code and also numbers and letters. In this case, I'm simply going to copy the address, and I already have the address here; I sent it to myself by email. I'm going to copy it and paste it here. And as [32:21] you can see, it automatically detects that it is the Solana network, we selected in the wallet. The next step is to enter the amount I wish to send. The minimum is 10 UST. I'm going to send 200. In fact, I'm going to send [32:34] 200 and 60 cents because they're going to charge me a 60-cent commission. I press withdraw and here it shows me a summary of what I am sending, the commission I will pay and what I will receive in my wallet, which is the 200 US. I will [32:47] continue. And here it asks me to place the access keys to test the security section. So, I'm going to put my fingerprint on it. And that's it. At this time, the UST withdrawal is already on its way to my wallet. Now let's look at [33:01] how to sell your cryptocurrencies for fiat currency and send your balance to your the first and easiest, which is only available for Mexico, Colombia and Argentina. This is done through a bank transfer. [33:15] To do this, you simply exchange your cryptocurrency for your national currency. In my case it's the Mexican peso. Next, you will press the " withdraw" section and here you will find this that says " withdraw Fiat". You press it and [33:28] our available amount appears and we will make a bank transfer, which may take 1 to 3 business days. We press continue. You enter the amount here. The minimum is 50 pesos and the maximum monthly amount is a little over [33:41] half a million pesos. If I wanted to, for example, withdraw about 2,000 from this side, I would add my bank account. You will simply enter your bank password or account number and any other personal information that it requests. Here it [33:53] shows us the commission they are going to charge us, which is approximately $23. This commission is a fixed amount. You will pay 23 pesos, 50 pesos, or if you withdraw [34:05] half a million pesos. You press preview and here you simply confirm the withdrawal. The advantages of this method are that it is easy to use and the commissions are quite low, and the disadvantage is that it is only [34:17] available for Mexico, Colombia and Argentina. For the rest of recording this video, it is not available. other countries in the Americas, I have a second method, which is to make your withdrawal [34:30] through P2P trading, where we will sell our cryptocurrencies to other Binance users. To sell in P2P trading, I recommend using UST, as it is the most traded cryptocurrency. You also [34:43] have to transfer that crypto from your spot wallet to your funds wallet. Then, we press transfer from spot to funds and here it will be USDT. In the amount I am going to transfer 200 USD and I confirm the transfer. And those 200, as you can [34:56] fund wallet. Next, we'll go to P2P trading. To do this, click on " trade" and then "P2P" here, or simply click on "deposit." This is P2P trading. Here are your two options. The first is to do it with the [35:10] P2P account. Here you will place some filters, such as pressing sell. You will stop selling UST. Here you will find your national currency; it will appear automatically. You enter approximately the amount you wish to [35:22] sell. I want to sell about 2,000 Mexicans. And here you will select the payment method that suits you best. In my case it will be bank transfer and it will automatically show you the best ads, the best [35:34] set. But if you use the quick or express sell option, you don't have you just have to press the sell button. You enter the amount you wish to sell in UST or what you would like to receive in Mexican pesos. For example, I want to [35:49] receive 2,000 and to receive this amount I would be selling 108. Here is the price at which they will buy the UST from me and this is the commission I will pay, which this is the commission I will pay, which is 0.2%. That percentage translates to [36:03] quite low. Then select your payment method. Here in the payment method, choose the one that's best for you. If, for example, you choose Banorte, you enter the interbank code, your full name, the account number and [36:18] case, I'm going to select bank transfer and I already have my account added. I press select ad and at this moment Vainas already gave me the best options. The one who buys it at the highest price, and therefore I will get more pesos for my [36:31] UST, appears as the first best offer option. This seller has completed over 3,000 orders with a completion rate of 99.6%, any of these, but I'm going to choose the first one because I simply [36:45] buy it for more money. For the 2,000 farts I'm going to receive, I'm going to sell 110.90 90 UST approximately 15 minutes. Press update price and then press [36:57] The account has now been created. We have a timer, the time it will take for them to make the transfer to me. The order details are on this side . In fact, the amount was slightly modified. I'm going to receive less than 2,000 pesos, but I'm also going to sell a [37:10] little less USDT. My bank details are shown here. Even while I'm speaking, the person has already made the transfer to me. He's telling me that he's already even sent me the screenshot here, and what he's sending me is already visible in the screenshot [37:23] trust a screenshot. bank's app and verify that the money is already there. I've already logged into screenshot, and the money is already in my account. Now I can finally release the [37:37] UST. To do this, I'm simply going to press this payment received button and press that I received the full amount from this person, and here we press approve the request with my access keys, which we see in the [37:51] security section. I place my fingerprint and at this moment we have already sold the UST. We've already gone from having US dollars to having Mexican pesos in my bank account. I'm simply going to send a thank you to the person here, just out of courtesy. Oh, I don't have to do this [38:05] , but I like doing it. As you may have quick. The person transferred me in a matter of a minute. As for the advantages, the commissions are not that high. The truth is that you pay quite little [38:18] and the exchange rate is also quite competitive. Basically, you sell the UST for main advantage for me is that this service is available to all countries in Latin America. Going into the disadvantages, I only see one. [38:31] Sometimes you may face the risk of buyer default. What happens if the person you want to sell your cryptocurrencies to marks the order as paid, but hasn't made any transfer to you? This is not very common; it [38:43] can happen in very extreme cases, but I'll tell you what to do in those reflected in your bank account, you are not going to release it under any circumstances. You only release the funds when the money is already in your [38:56] bank account. Then you open a dispute with the Pedp team, providing bank statements as evidence. Binance will ask the buyer for proof of payment, and if they do not verify the payment, the order will be canceled and the UST will be returned to [39:09] you. This is very unlikely to happen to you, but well, I think it's important to know what to do in those kinds of situations. So far we've covered the essentials; you already have the basic tools to move [39:21] confidently within the platform. Now I want to show you four slightly more advanced products that I personally use to get more out of my detail because I don't want to make this video too long, but I will give you [39:35] an introduction to how these work. If any of these features I'm about to show you interest you, I'll leave a complete video tutorial in the description. The first thing I'm going to show you is how futures work. [39:47] Here you will find this section that says futures and you are going to press USD futures. These futures contracts are derivatives that allow you to speculate on the price of an asset and potentially make a profit. If you think the current price of [40:00] Bitcoin is going to go up, then you place a long order. If you think Bitcoin's price will go down based on the current price, then you place a short order. If you make the right prediction, you will win money, [40:12] and if you make the wrong prediction, you will lose money. Another very interesting feature of futures is leverage. This is a tool that allows you to trade with more money than you actually have. In some markets, you can leverage up to 1: [40:24] In some markets, you can leverage up to 1: 150, which means that each dollar you can multiply by 150. With leverage, you can achieve greater profits with less capital, but be aware, it also increases the possibility of losing [40:37] money faster. I'm going to show you how to quickly place an order at the current price. Let's suppose I think Bitcoin is going to go up. I'm going to predict that it will go up and I'm going to place a long order. I'm going [40:49] to leave the leverage at 10x. Here in the future I have an available amount of $3,600. transfer money from your funds account internal wallets chapter we look at how to make these transfers. So, [41:03] let's say I want to open a position of $10,000. Since I am using 10x leverage to open that $10,000 position, I only need $1,000 of my capital. This would be my cost. With the $3,300 I [41:17] have, I could open a position of $33,000; I could open a position greedy, I'll simply open a position of 10,000 and my cost will be 1000 and I'll press buy long. Here's the order, it's already open, it was [41:32] executed immediately, it was executed quickly because we placed a market order. Okay, I didn't mention this to you, but it was a market order. Here is price at which we entered, the current price, the clearance price. Be careful [41:46] price, if Bitcoin falls to $102,000, I would be losing my $1,000. Okay? So pay attention to that detail. Here where it says margin is what I am using from my capital and here it shows us the profits. At the moment [42:00] we are winning 57%, which means we are already earning $5 in a matter of seconds. To secure this profit, I will close with an order. I can place a limit order or a market order and it's already closed automatically. Obviously there were [42:14] other details that I didn't tell you about, such as the type of margin and also how to place a stop loss and a take profit. But anyway, I'm telling you this is just going to be an introduction. If you're interested in learning more about futures, I'll [42:26] leave a video in the description. Now let's talk about one of my earn section, you'll find something called simple earn. Simple Earn is to receive passive income. Here, you simply have to [42:41] search for the cryptocurrency that you own. There are quite a few cryptocurrencies here; in fact, they have more than 300 cryptocurrencies. You can simply enter the ticket and cryptocurrency symbol in the search bar and you'll find it here. [42:55] Once you find it, if the interest rate convinces you, then you can subscribe. For example, I'm interested in BNB, which is quite a few benefits here on the platform. This crypto doesn't pay [43:07] much, but I'm going to show you some other benefits. If I place it on a I can withdraw it at any time and the interest will be fluctuating. This is the interest I would be generating. But if I place it in a [43:20] locked term, that is, for 15, 30 and up to 120 days, but be careful, if I withdraw before the term I set expires, I will lose the profits, they not pay me the interest. So, let's say I'm interested in [43:34] the flexible option, I click on subscribe and here you enter the amount. The minimum is 0.00. 003, that this amount is about $3 and I'm going to click subscribe and that's it. If I go to my wallet, here I have these 30 BNB [43:46] with this value and this is the interest they are paying me. If I want to withdraw right now refund and enter the amount I want to withdraw, then confirm and it will be Spot wallet. The interest they pay me isn't much, but now I'm going to tell you [44:01] why I have these BNBs here. If you go to the "more" section, you'll find something called "launch pool". Launch Pool is Binance's platform for launching new tokens. Here you can basically earn [44:13] cryptocurrencies for free. For example, there's the launch pool. This is an event that lasts for a few days. For example, the last one lasted 3 days and this is How were they distributed? Well, you could participate by blocking [44:28] one of those three cryptocurrencies you see here during these three days. And this amount of tokens was distributed among all the people who participated. Another event you can participate in is called Airdrops the Holdler. [44:40] This is a common occurrence. I've gotten several tokens here. Here is the date I got them. In fact, today the 23rd I got one, on the 22nd I got another airdrop and on the 19th I also got another one. And so on, [44:52] they do about four or five events per month. To participate in these Airdrop events, the only requirement is that you have BNB in ​​the Earn section. That's why I have those 30 BNB blocked in that [45:06] section. The interest they pay me isn't much, but with those BNB I've managed to get all those tokens you're looking at right now. Similarly, if Launchpool, I'll also leave that video in the description. And now I'm going to [45:19] of trouble on more than one occasion. If you go to the earn section, you'll find what's called "lo" and "los" are crypto loans, which allow you to borrow [45:31] cryptocurrencies by leaving other assets as collateral. In the world of cryptocurrencies there is a very popular phrase about Bitcoin that says, "Bitcoin is not sold, it is used as collateral." This implies that whenever you need money, don't sell [45:44] your Bitcoin because it's always going up. It's better if you borrow money. these are the cryptocurrencies that you can borrow. For example, if I want to leave Bitcoin as collateral, people usually borrow UST, [45:57] cryptocurrency, you will be charged interest that fluctuates around 6%. So, if I want to take out a loan with USDT, press this button and first leave. I don't have Bitcoin here right now, but I do have BNB. If I want to leave [46:14] my BNBs as collateral, I can leave the 30 I have and request a loan of up to $24,000 and they will charge me an interest rate of 6.33%. When I return what I borrowed plus the interest, they will return the BNBs that I have [46:28] deposited. And Binance can lend you up to 78% of your recommend that you only borrow 50%. I have a video with several examples of how this product works in the description, and I [46:43] a pod function that at some point, for one reason or another, we're going to need, and this is the support function, which you'll find in a corner here all the time. If you have any problems, can't access your [46:56] account, want to reset your password because you forgot it, or perhaps a deposit was blocked, or maybe you deposited cryptocurrency but the balance isn't showing up. Whatever problem you have in this section, you will [47:08] solve your problem. Here you can start a conversation with a virtual agent, that can help you, and if the virtual assistant can't solve your problem, they will connect you or you can talk to a person. [47:21] Cryptocurrency companies aren't necessarily known for having great customer service, but in this area I have to admit that Vaina is the one that does the previously to resolve a problem and I was able to get in touch with someone who spoke [47:33] Spanish and they helped me solve that problem. If you made it this far, congratulations. You already have the knowledge to use pods, from basic functions you decide to use this platform, I'll leave the official link in the [47:46] the commission discounts. If you have any questions, you can leave them in the to answer. And up here you'll also find a couple of videos. In this video I show you step by step how to create and verify an account, [48:00] and here I teach you how to use the application from beginning to end. I'll from beginning to end. I'll leave it here for today.