While the popularity of cryptocurrencies continues to increase day by day, the number of people who want to invest in cryptocurrencies is increasing rapidly. At this point, some questions arise in the minds of crypto money enthusiasts. For example, “How to buy cryptocurrency? What are the best exchanges to buy cryptocurrencies? What are the crypto exchanges with low commission?” For you, our readers, in this guide What is Binance and how is it used? Is Binance exchange reliable? We tried to answer many questions that you may wonder, especially the questions.
Investors who want to invest in crypto money generally start from the most popular cryptocurrency exchanges in the world and the country, and as they learn how the system works, they turn to different exchanges and decentralized exchanges to discover new assets faster.
In the world cryptocurrency exchange one of the first names that come to mind Binanceis one of the world’s largest stock exchanges operating in our country. At this point, we have better news for you, Binance, in Turkey. Binance UK under the brand Cryptocurrency investment with Turkish lira It has another exchange that allows trading and is relatively simple to use. Moreover, it is possible to invest in this stock market 24/7 from banks such as Ziraat Bank and Vakıfbank, in addition, all withdrawals to be made in Turkish lira until the end of 2021 are completely commission-free.
What is Binance? When Was Binance Founded and Who Owns It?
Binance, is a cryptocurrency trading platform whose popularity has spread around the world, with a very high trading volume, where cryptocurrencies can be bought/sold. Founded in 2017 by two developers, Changpeng Zhao and Yi He, and currently headquartered in Malta (which may soon be headquartered), the platform has become the world’s largest cryptocurrency exchange in terms of largest trading volume as of January 2018.
Binance stands out as a highly advanced platform that allows its users to use both a simple and advanced exchange system. The platform stands out as a stock market that includes both popular altcoins and newly launched altcoins and even supports them and allows its investors to earn crypto money by supporting them.
While the ‘pro’ view used by Binance has a structure that allows them to analyze and watch the charts while investing. Its simple appearance, called ‘Lite’, is designed for traders who only want to buy with a certain currency.
How to Register with Binance?
You have multiple options to register with Binance, first of all the most traditional and most used method is the ‘register by email’ option via the Binance homepage.
After entering the Binance homepage, after clicking the “Register” button on the top right, you will see a page like the one above (depending on the device and browser you use, it may ask for your region, but Turkey will be automatically selected).
After signing up with your e-mail or phone number, your registration will be completed. When you click on the link above, the reference ID is automatically filled and a commission discount is defined specifically for you. It is very important for your security to activate the two-factor authentication (2FA) after the registration process.
How to Use Binance?
After signing up on the Binance exchange, you can buy popular cryptocurrencies and popular altcoins. You may come across an area like the one below on the main page and you can be directed to the relevant page for your first investment by clicking the “Buy Now” button.
After clicking the buy now button, the site will direct you to a page like the one below.
From here, you can place an order to buy any crypto asset in any currency (Turkish lira automatically selected). If you want, it is possible to buy crypto money in TL, or you can buy crypto money directly by entering it.
When you press the “Continue” button, an option screen like the one above will appear. Since this image is taken from a test account, you may have different limits. If you wish, you can buy with a credit card or add balance first by clicking on add balance to your account.
For example, if you want to load cash, you can make a direct bank transfer or invest 24/7 through Ziraat Bank/Vakıfbank. We will share the relevant guidelines with you in more detail shortly.
Investing with Binance Turkish Lira
If the method we just described doesn’t work or if it seems complicated for you, you can actually use the easier method. Binance UK You can do it with
Currently, the Binance exchange will direct you to the Binance TR page when you choose to deposit ‘fiat money’. As seen in the image, it is very easy to deposit Turkish lira in this way. Transferring the assets or TL you buy there to Binance is completely free and very fast.
What are Binance Commission Rates?
First of all, we need to tell you that Binance’s commission rates can be updated from time to time. For this reason, we recommend you to learn the current commission rates by clicking the commissions tab at the bottom of the site. As of 27 November 2021, the following commission rates are valid.
Binance’s commission rates are automatically calculated daily with 30-day cumulative trading volume and 24-hour average balances, and commission rates are updated based on VIP levels.
Market Maker: Order type that creates an offer on the trading board.
Market Buyer: An order type that accepts an offer on the trading board.
For example, you can see the commission rates in a VIP 0 account with an active BNB discount in the image above. If you become a member of Binance using this link, you will be given an additional discount and you will be able to trade at really low rates.
If you don’t use the BNB discount, the rates will look like this.
What Are the Benefits of Binance?
The biggest advantage of the Binance exchange is that it is one of the most accepted exchanges in the world and has the highest trading volume. If you plan to trade daily and want to pay less fees, you can use the BNB discount and become a member with a commission discount link. Thus, you will have paid very little commission under market conditions (you may need to keep some BNB in your account, check the conditions).
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.