Trading on Binance

[Victorial]

It took me months to know that a binance user can actually trade on the app by going short (sell) or long (buy). Binance is used for many purposes such as storing crypto coins, peer to peer trading, and Futures. While I am familiar with the first two uses of Binance, I do not know how I can trade crypto pairs on it.

Out of curiosity, I tried to see how it works but a warning given to me killed my interest. According to the warning, trading futures is very risky and they are not responsible for any loss incurred by the user. It was even encouraged to watch an introduction video and pass a quick quiz to ensure that the user fully understands the potential risks before starting trading.

Have you ever traded on Binance Futures before? Share your experience

 

[Victorial]

The use of Binance for trading futures is for the professionals. I dare not obtain Binance for trading crypto. Although I am not an expert in trading crypto compared to Forex, I think trading Futures is harder or possibly because I don't understand the concept. For my trading, I use meta trader 4 or meta trader 5. These two apps have been my favorite trading apps. I dont know if I can choose indicators on the Binance app or not. I used indicators like trend lines, moving averages, and the relative stochastic index (RSI) to execute my trades. But it will be nice to know how to trade on the app

 

[Bookwormlux]

I trade on binance every now and then but I try to make sure that I do not go beyond what I am already knowledgeable about, this helps me to avoid losing money in my attempt to make money online. It is good for us always know our limit especially when it comes to making money through cryptocurrencies.

 

[Kingstone]

Trading on Binance futures can be very difficult. I have never traded on any other app besides the meta traders apps like MT4 and MT5. I will also like to learn how to trade on Binance especially since the payment method in this platform is Binance pay.

I believe it will be about going long (buy) and going short ( sell) on binance rather than sell and buy on Meta traders. But my problem will be analyzing the charts. I think people who trade on Binance do so based on signals. They will be aware when a particular coin will rise or dump and they will hold a position with specific leverage.

 

[Bookwormlux]

Some individuals do not take time to learn before they get to decide whether to trade or not and this has led them to lose out so much money that they invested in cryptocurrencies, I believe that a single research of how binance works would have help then to avert such situations.

 

[Mika]

I have not traded futures or cryptocurrencies on Binance even though I have been using Binance for a while. I use Binance mainly to receive payment. When I receive payment, depending on my interest and market conditions, I either keep it in my exchange wallet or exchange it to another currency. For instance, when I received 12 USDT from Trendri last time, I exchanged to Mattic because only this currency showed strong performance when a lot of popular currencies were in the bearish run. I would like to try my hands on various earning methods on Binance, staking for exmple.

 

[Kingsley]

I remembered when first started heard about crypto currencies some 6years ago I never took it seriously not until recently when I saw the enormous benefits I had lost not trading crypto. My first wallet was the luno wallet I stayed with it for a very long term and I still regret wasting all those time on luno when I could have started out with binance.

Binance as for me still remains the best amongst every other trading platforms as I understand everything about binance it blesses me alot of give a ways. It is really easy to use as for me although complex to other people.