So, initially, we were using e-Toro to trade both US stocks and cryptocurrencies. Then Binance came, so moving forward all our crypto trading is now done via Binance. We just use e-Toro now for trading foreign stocks.
Admittedly, it was kinda hard to explore Binance being a first time user, and with the website jampacked with various features, functionalities and uses. So I decided to create a video tutorial on Binance 101. In a nutshell, here are the top uses of Binance, as we have explored so far.
Binance is primarily a cryptocurrency exchange so if you are into trading crypto, Binance is one way for you to go. It has a lot of listed cryptos, much much higher to what’s available in e-Toro. Up and coming cryptos also aim to listed in Binance, and more often than not, new play to earn games suddenly increase in popularity once the crypto and coins get listed in Binance. It has a cool charting functionality (as it uses Trading view), and also has conditional orders (buy on breakout/ support, automated stop loss), which a feature sorely missed on popular online trading brokers in the Philippines. It also allows margin / leverage trading, as well as futures, which should be discussed separately as it is much much more risky.
We previously discussed what NFTs are, and Binance also features a market place for NFTs, mostly for art and gaming. Caveat emptor though in buying NFTs, especially those purely artworks for collection, and has no utility, say in play-to-earn games.
Transfer of Crypto Funds
If you are already into play-to-earn (P2E) games (e.g. Axie Infinity, MoBox, Cryptoblades, etc), then chances are you need to encash your earnings from time to time. Binance can be one of the ways to withdraw your money, as it has a seamless connection to popular wallets used for P2E such as Metamask and Wax Cloud wallet. Binance also features easy funding and encashment via peer to peer (P2P).
Are you ready to open your own Binance account already? You may use this referral link so you can get a sign up bonus. But if you need a more in depth discussion, simply watch the following video, as we show a demo on what the Binance website looks like, and the common functionalities you will need.