What Is Binance?
Binance is one of the most fastest growing exchanges for trading cryptocurrencies. It has a great user interface, available in multiple languages, have a mobile app, and process orders at an incredible speed. However, one of its cons is that does not accept FIAT.
Why Is Steem Being Added A Good Thing?
Binance is another exchange which has a lot of volume, but still not as big as bittrex, however will provide steem more visiblity as more trading options become available. STEEM is getting more and more recognition and if more people buy/trade STEEM, price can drive up. This is a milestone that ought to be celebrated!
What Trading Pairs Are Available?
The trading pairs available are STEEM/BNB, STEEM/ETH, and STEEM/BTC (BNB is the Binance Coin). So what this means is that you can trade in Binance Coin, Etherium, or Bitcoin in exchange for Steem and vise versa.
Why Should You Sign Up For Binance?
Simply put, finance is growing fast, it may even be the top trading exchange for altcoins. Also may of the newest coins are added to Binance before Bittrex, and Polinex. If thats not a good enough explanation for you, its better to have more options readily available if anything were to happen to one particular exchange.
Step 1: Go To The Binance Website
You can sign up for binance in minutes right here! This link should open up a new tab for you so you can follow these directions. Every time you are going to log into Binance make sure that you are on Binance and not on another phishing website because there are many, it helps to bookmark the original website.
Step 2: Complete The Sign Up Process
Click on the ‘Register' button which is present on the upper right hand corner. I circled it fo you all in the picture above. Use your most reliable email and create a strong password. Finally when you’re done click the register button (shown below). Remember to check your email for a confirmation for your new account!
Step 3: Enable 2-Factor Authentication
When you log in for the first time, a pop up will ask you to enable 2FA (2-Factor Authentication.) This is great because it adds more security to your account. If you are new to 2FA you will have to download the Google Authenticator app on your phone. After this all you need to do is scan the QR (or the secret key) in order tot a code (chages every minute). Thats all, you’re done!
If requested I will make a tutorial on depositing/withdrawing funds as it can get tricky at times and it took me a few trades to finally understand the process flawlessly.
Happy Steeming Everyone!
Jane
This is great news. Binance is extremely popular and seems reliable. This is great for Steem.
Indeed it is :)!
I remember July 2016 steem spiked, retraced down then when it was listed on polo it spiked back to ath then lead it its death drop, but we survived going back to $0.07 and should see some significant gains in the coming months/years
I didn’t even know about steem at that time haha
Thank you for the information @paolajane
Thank you for reading :)
So much clear and short describe for understand. thanks for sharing
Thank you for reading I appreciate it!
Good news
Very informative post.To the point and you described all things.Thanks for help.Keep it up
Yes yes yes! Great news. It is indeed all over my Steemit feed.
Interesting to see its only STEEM and no SBD. Any idea to why?
This is great news! More and more individuals are realizing the potential and power of Steem and Steemit! I am so very happy for the Steemit Community! It is so well deserved! Thank you very much for this great tutorial! All the best! Positive Energy! Great Karma! Your Friend @extraterrestrial :)
Please avoid Poloniex. They have locked Steem wallets for long times, over and over. The main reason for going to Binance would be in particular to avoid those issues.
Thanks for posting Jane! Love your energy and well written posts ^
Wish they listed SBD's on exchanges as well, need that better market convert ratio haha