If you’ve heard of cryptocurrencies, it’s likely that you’ve heard the name Binance. This Shanghai-based cryptocurrency exchange was founded in July 2017 and has exploded in popularity ever since then. From its decentralized structure to its functionality, Binance offers some of the best trading platforms on the market today. This article will introduce you to this digital currency exchange and explain why so many investors are flocking to it in droves.
What Is Binance?
Binance is a cryptocurrency trading platform that has quickly grown in popularity among digital asset enthusiasts. It’s been one of 2018’s fastest-growing exchanges, adding nearly half a million users since it launched just eight months ago. By comparison, it took Coinbase about four years to reach its first million users; Binance did that in half a year.
Deposit Funds
There are two ways to deposit funds into your account. You can use Bitcoin, Ethereum, and Litecoin. If you haven’t purchased any of these cryptocurrency yet, now is a great time! Once you buy your cryptocurrency you will need to transfer it from an exchange where you bought it to a supported wallet (Ledger Nano S or Trezor). From there, simply send that currency over to Binance. It’s fast and easy!
Trade on Their Exchange
Binance doesn’t just host cryptocurrency trading. It also offers its own digital currency exchange, which means there are plenty of coins to choose from if you want to start trading in other assets.
How To Buy NEO On Binance
There are multiple ways to buy NEO on Binance, but in order to purchase it with another cryptocurrency such as BTC or ETH, you’ll need to use one of their trading pairs. Here’s how you do it.
How To Store Your NEO Coins Safely
In order to safely store your NEO coins, you should use a hardware wallet, such as a Ledger Nano S. This will protect your currency in case of theft or if Binance itself gets hacked. It’s important that you never leave coins on an exchange. If they get hacked, they can easily disappear with no recourse for you whatsoever. Instead, be sure to invest in a hardware wallet and move your currencies off of exchanges into secure cold storage as soon as possible.
