How to Trade Crypto on Binance!
34sClear step-by-step guide for beginners on trading crypto via phone, highly educational and practical.
▶ Play Clip"Delivers exactly what the title promises: a practical guide to trading on Binance, though it could be more concise."
This video is a step-by-step tutorial on how to trade cryptocurrencies on the Binance platform using a mobile phone. It covers account registration, wallet management, placing buy and sell orders, and understanding the trading interface, with a focus on spot trading and Sharia compliance.
The video begins with a promise to show how to trade on Binance using a phone. It emphasizes the need to register on Binance and activate the account, and mentions a 20% lifetime discount on commissions via a link in the first comment.
After registration, users must access their wallet and ensure funds are in the Spot wallet. Funds deposited via B2B typically land in the Funding account, so they need to transfer to Spot using the 'Transfer' option, selecting USDT and the amount.
Two methods to select a cryptocurrency: browse the market or use the search box. The example uses Solana (SOL) paired with USDT (SOL/USDT). Important: select 'Spot' not 'Futures' because futures trading is considered forbidden in Islam.
The interface shows the currency name, current price, 24h high/low, volume, and a candlestick chart. Red candles indicate price decrease, green candles increase. Time frames range from seconds to months, affecting candle duration.
To buy, click 'Buy'. Two order types: Limit (set a specific price, e.g., $200 for SOL, and the order executes when price reaches that level) and Market (buy at current market price instantly). Minimum trade is $10.
Selling is similar to buying. Use Limit to set a target price (e.g., $250) and sell a percentage (100%, 75%, 50%, 25%) or a specific quantity. Market sells instantly at current price.
The video ends with a promise to cover stop loss and take profit in the next video, and a call to subscribe.
The video provides a clear, beginner-friendly walkthrough of Binance mobile trading, emphasizing spot trading and Sharia compliance. It covers essential steps from funding to executing buy and sell orders, setting the stage for more advanced topics like stop loss and take profit.
What is the first step to trade on Binance?
Register on Binance and activate your account.
00:02
What discount does Binance offer on commissions?
20% lifetime discount.
00:36
Where do funds typically land when deposited via B2B?
In the Funding account.
00:51
Why should you choose Spot instead of Futures?
Because futures trading is forbidden according to Islamic law.
02:04
What do red and green candles indicate?
Red candles indicate a price decrease, green candles indicate an increase.
02:50
What is the minimum trade amount on Binance?
$10.
03:59
What is a Limit order?
An order to buy or sell at a specific price, executed when the market reaches that price.
03:47
What is a Market order?
An order executed instantly at the current market price.
04:43
Sharia compliance in trading
Highlights the importance of avoiding futures trading for Islamic law adherence, a key consideration for Muslim traders.
02:04Limit order mechanics
Explains how to set a specific price for buying, allowing traders to automate entries.
03:47Market order simplicity
Shows how to execute trades instantly at current prices, useful for quick entries.
04:43[00:02] to trade on the Binus platform using your phone. The previous video phone. The previous video [music] will be helpful. Peace, mercy, and blessings of God be upon you. Welcome, my brothers, to the Ars
[00:19] Teleum channel. As we saw in the introduction, we'll see how to trade on the Binus platform using only your phone. The first thing you need, my fellow citizen, is to register on the Binus platform and pay for your account. This video explains step-by-step how to register and activate your Binus account. After you get a
[00:36] Binus account, you'll receive a 20% lifetime discount on the platform's commission, which we discussed in the previous video. We'll also leave a link to this discount in the first comment. When you enter the Binus application, the first thing you need to do is access your wallet here. Then, make sure
[00:51] your balance is in your Spot wallet or Instant account here. Usually, when you top up your account via B2B, your balance will be in your Funding account or Finance account. To transfer Funding account or Finance account. To transfer your balance from your Phone account to your Spot account, go to Spot and
[01:06] then press Regarding transfers and conversions, please ensure you select a spot transfer option. Also, confirm that you have selected USDT as the currency. Next, select the amount you wish to transfer and click "Transfer Now" to begin trading. You have two options: either
[01:22] go to the market here and search for the cryptocurrency you want to buy, but it must be backed by USDT since we have already loaded USD into our wallet. The second method is directly by searching for the cryptocurrency in the search box here.
[01:38] Choose any currency you wish to trade, such as Bitcoin, Dow Jones, or any other. In our case, we will buy the ANA currency, whose abbreviation is Sol. Type Sol for the currency abbreviation and
[01:51] then enter the currency you wish to buy with, which is USDT, resulting in Sol USDT. Here's a very important note, my fellow citizen: you have selected " Spot," not "Futures," because we don't
[02:04] know about the latter. There are many trading methods, and if you choose this option... Is this a futures contract or a forward contract? Know that this type of transaction is forbidden according to Islamic law. So, we'll choose Spot,
[02:16] click on the currency, and this interface will appear. At the top, you'll see the currency name and its corresponding USDT. If you want to change the currency, simply click on this arrow and select another currency. Here, you'll see the currency's price, which changes every moment, and the highest and lowest
[02:33] prices the currency reached in the last 24 hours, as well as the volume or liquidity of the currency in the last 24 hours. In this area, you'll find the short or chart, which displays red and green candles. Red candles indicate a price decrease,
[02:50] while green candles indicate an increase. At the top, you'll see the time frame. We have this setting, which can be seconds, minutes, 15 minutes, or even the day or month. This time represents the candle's duration. For example, if you choose seconds, every
[03:07] second will be displayed. We have a new candle that isn't shown. If we select the minute, a candle will appear every minute, and the same applies to other time zones. Next, we find the indicators used
[03:19] in the analysis and all the information related to the SAN currency. To make a purchase, we scroll down and click on the "Buy" button. From there, we'll see how to buy SAN
[03:31] using USDT. Here, my friend, you should know that there are several ways to buy. Clicking here will bring up a list of buy options. When you click on the first option, which is "Limit" (or "No Limit" if you're using an Arabic-language application),
[03:47] we'll specify the price at which we buy. For example, we 'll place a buy order and tell it, "If the price of SAN reaches $200, buy a certain
[03:59] the price of SAN reaches $200, buy a certain amount, such as $10, $20, or $100." It will then tell us how much you can buy, and the minimum price you can trade at is $10. After that, click "Buy Here." And immediately, the purchase order we just placed will appear.
[04:14] Once the price of Solana reaches $200, the purchase order will be activated automatically. You can cancel this order here if the price doesn't reach $200. Deductions and fees
[04:26] will be applied here. These deductions occur with every purchase or sale transaction. The link we mentioned in the first video will be helpful here and will reduce these deductions. The other option is Market. In this option, you will buy Solana at the current market price. In this field, we
[04:43] will enter the quantity we want to buy Solana with. If we click on Buy, the Binus platform will connect directly at the current price of the currency. At the same moment, when you log into your wallet from here, you will find the quantity of Solana you bought. This is for buying. For
[04:59] selling, it's almost the same; you just search for the currency you bought in the search box. We didn't see that. We will enter the currency. We will see the same interface that appeared at the beginning, and in some cases... We click on "Buy Now," then they click on " Sell," and the selling interface will appear, which
[05:15] is exactly like the buying interface. Even the selling options will be the same as the buying options. We'll choose a limit order and tell Binus, for example, that when the price of Solana reaches $250,
[05:27] Binus, for example, that when the price of Solana reaches $250, we sell 100% of the quantity, 75%, 50%, or 25%. You can also enter the quantity you want to sell in the fields here and here. You enter the quantity of USDT you want to sell and click "Sell." Once the price of Solana reaches $250, the sale will be completed
[05:44] the price of Solana reaches $250, the sale will be completed automatically. As for the market order, we will directly select the quantity we want to sell and click "Sell." The sale will be completed at the same price you see here, at the same instant. The quantity of Solana you sold will
[05:58] disappear and be replaced by a quantity of USDT, which you will find in your wallet. The next video will be about stop loss and take profit in full detail. And that brings us to the end of the video. If you benefited, don't forget to... Support the channel and subscribe [music]
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