[00:01] pods from their application step by step. But that's not all, I'm going to reveal how you can save 40% on trading fees.  So let's begin.  If for some reason you do n't yet have a Binance account, I'll
[00:15] leave the official link to create or reactivate your account in the description.  With that link you will get a $100 coupon to pay commissions, as well as a 20% discount on trading commissions and a 10% discount on
[00:30] futures commissions.  This link can save you hundreds or even thousands of dollars if you plan to use Binance long-term. Then you download the application from your App Store or Play Store.  It will be this one that has 22,000 ratings with 4.8
[00:43] stars.  Binance has two versions, the Light version, which is the one you are looking at right now.  This is a simplified version with some features.  But to get the most out of this app,
[00:55] click the Binance icon and then click here where it says Binance Pro. This is its most complete version, which will allow us to take full advantage of its potential. do is add funds.  You can simply deposit
[01:10] cryptocurrencies from another platform. You can make a bank transfer using your national currency.  That is available for Mexico, Colombia, and Latin America, you can use P2P commerce.  I recently
[01:24] pods and I'll leave it here at the top.  You will find those funds in the asset account, which should be in your funds in another of these accounts, they simply have you transfer them and you
[01:38] transfer them from the account where you have them to the spot account.  In my case, I to the spot account.  In my case, I already have 2400 USDT here.  This is a cryptocurrency that maintains its value equal to the dollar, and any cryptocurrency you
[01:50] want to buy out there, you'll find it available with the UST.  Therefore, it is advisable to trade with UST.  To trade, we'll go to this section called "trade," and this is where we'll exchange one
[02:03] cryptocurrency for another.  For this we have two options, the spot option and the convert option.  First I'll show you the convert function.  Here you simply want to spend, which in my case will be UST, and select the cryptocurrency you
[02:18] want to buy, which in my case will be Bitcoin.  Then you enter the amount, which in my case I'm going to buy about $100, so I'm going to receive this amount of Bitcoin.  I press preview and confirm the purchase.  And that's it, we've now
[02:31] exchanged Bitcoin for UST.  Furthermore, this transaction does not generate any commission.  The advantages of using this function are that it is easy, fast and simple, but despite that, I don't use it much because here I'm going to talk about
[02:44] the disadvantage, and that is that they sell you Bitcoin slightly more expensive than it costs on the market.  When we bought the $100, they sold me the Bitcoin at 119,152. But if I go to the spot market, Bitcoin
[02:58] costs 118,759.   They sold it to me for more, and that's the reason why I don't use it much despite it being so simple.  Now I'm going to show you the spot option, which is the option I recommend the most.  Here we will
[03:12] operate in the spot market.  This means making cash exchanges. In my case, I have $6,488 available.  I can exchange this equivalent for another cryptocurrency at its current price.  First, we
[03:27] will select the cryptocurrency we want to buy.  And here you'll search for cryptocurrencies by their symbol.  The symbols are three- to five-letter abbreviations used to identify each cryptocurrency on exchanges.
[03:40] Binance, you'll never look at the word Bitcoin, you'll always look at its symbol, which is BTC.  Similarly, with Ethereum, its symbol is ETH.  So, 'll just look for it here, which is
[03:54] BTC.  And here it shows me the pairs with which Bitcoin is available. Pairs are assets that you can exchange with each other.  For example, I can buy Bitcoin if I have USDT, FD USD, and also USDC, which are all three
[04:09] to [unclear - possibly "USD"] here I'm going to show you this section, which is the order book.  This section
[04:21] shows in real time who wants to buy and who wants to sell.  These are all simply orders placed by Binance users like you and me.  Those in red are the sellers who want to sell at the highest
[04:34] possible price. Buyers who want to buy at the lowest possible price are shown in green.  And in between we have the market price, which is what the asset is worth at this moment.  On this side we have the amount available
[04:46] for trading.  Here's the maximum purchase we could make of this asset and the commission we would be paying when exchanging the cryptocurrency. Now let's look at this section, which is where we place the orders.  First
[04:59] you choose between buying and selling. We want to buy.  In this case, it also shows you the action you are performing below.  Next, we will set the order type.  There are several commands, but 99% of people
[05:12] only use two.  One of them is a market order.  With them you buy at the current price.   They are executed immediately.  It's as simple as entering the amount of Bitcoin you would like to buy.  Let's say, if I
[05:25] want to buy $100, I simply press buy.  And that would be all.  I bought a fraction of Bitcoin for what I could afford at the price it's worth right now .  Another type of order you can place is a limit order.  With
[05:39] these orders you set the exact price at which you want to buy. Let's suppose that at this moment Bitcoin seems very expensive to me at $118,000, I can modify that price at which I want to buy, let's say, if I want to
[05:51] buy if it drops to $110,000. On this side I place the amount I wish to buy, let's say 100 USDT.  And if the price of Bitcoin falls to $110,000, I would have enough to buy this amount of Bitcoin.  Here it
[06:05] shows me the commission and I click on buy.  And at this moment, my order becomes part of the order book for people who want to buy cheap.  This order will be executed as long as Bitcoin falls to the
[06:18] established price of $110,000.  If it does n't fall, it will never be executed and will simply remain there.  Then, if you want to cancel it, you simply press cancel and that's it. Selling is exactly the same process,
[06:31] you simply press sell and it will indicate that we will now be selling the Bitcoin.  We place the order type, let's say, a market order. I have approximately $200 in Bitcoin.  I can even set the amount
[06:43] in Bitcoin or USDT.  I always leave it in USDT.  I would enter the amount I want to sell, whether it's $100 or even if I click on this little arrow, I can slide and sell everything.  And if I wanted to sell it, I would simply press it and
[06:58] Bitcoin I own would be sold.  Similarly, if I want to sell at a higher price, I would simply change and place a limit order, say, if I want to sell at $120,000 when it rises to that price.  And then here I put the amount of
[07:12] Bitcoin I want to sell, or I can also put it in USD, let's say 100 UST, and I press sell.  And likewise my order would go into the order book, but .  And likewise, this order will be
[07:25] executed as long as Bitcoin rises to 120,000.  If it doesn't reach that price, it will never be executed.  All the cryptocurrencies you trade will be found in your asset account under the spot account.  Here you will find
[07:37] all the assets you traded. Now let's talk about commissions.  Every time you switch from one cryptocurrency to another here on Spot, you will pay a fee.  If you are a regular user, someone who doesn't do much
[07:49] trading, you will pay a base commission of 0.1%. You might ask yourself, what does it mean to be a maker or a taker?  A maker is basically a creator.  Creators are people who place limit orders and
[08:02] move them to the order book.  A taker or a taker.  These are people who place market orders and take orders from the order book, that's why they are called order takers.  Now I'm going to share with you three ways to reduce fees.
[08:15] The first one is with our code 7 entries 20, with which you will get a 20% discount on commissions.  This code also works for existing users who haven't made any transactions in the last 180 days.  The
[08:28] second way to reduce commissions is to pay them in BNB.  If you have some BNB, like I have 4.54 here in my spot account you can pay the fees with this cryptocurrency and receive that extra 25%
[08:43] .  To do this, simply go to the home screen, then click on the three dots, then press this little arrow and press here on benefits and make sure you have this function activated
[08:56] that says BNB discount, just like I have it activated.  The third way to get commission discounts is to level up.  The more you trade pods, the more you will become a VIP user.  They have VIP users from level 1
[09:10] up to level nine.  The more grapes you buy, the more commission discounts you'll get .  This is a bit more complicated because it depends on how much trading volume you do. To recap, with our code
[09:23] you will get a 20% discount on commissions, which lowers it from commissions, which lowers it from 0.1% to 0.08%. Then you buy some BNB and activate the BNB discount feature.  And with
[09:36] this, your commission will decrease from 0.08% to 0.06%. And by making this combination, you will get that 40% discount on commissions that I mentioned at the beginning. If you have any questions, you can
[09:49] best to answer. Also, if you'd like me to review or make a tutorial on any pod functionality, you forget to like the video if you watched this far, and I'll also leave
[10:03] There we share news and updates about what's happening day by day in the creative world, and we also hold giveaways.  You'll also show you how to use the Vinance application step by step, and here I show you how to
[10:17] trade futures.  I'll say goodbye here. My name is Miguel Valencia and I'll see you next time My name is Miguel Valencia and I'll see you next time .  Yeah.