Binance is the world’s leading crypto exchange. It recently extended its services to include an educational platform called Binance Academy, which provides users with tutorials and practice tools to hone their trading skills.
If you are new to the world of cryptocurrency exchanges, or if you have just signed up for a Binance account, this guide will teach you everything you need to know about trading on Binance.
In this article, we will explain what Binance is and why it is so important for the future of blockchain technology and digital currencies. We will also cover getting started on Binance as a new user; exploring the different types of markets on offer; tips for navigating the advanced trading features; and some useful strategies for optimizing your performance on Binance.
Binance is one of the fastest-growing crypto exchanges in the world, with an average of around $900 million worth of cryptocurrency being traded on its platform every day. However, learning to trade on Binance isn’t straightforward — there is a lot to take in when you first get started.
That’s why Binance has created a detailed ‘Binance Academy’ which explains all of the exchange’s features and services. This article focuses on Binance Academy; its different sections, their explanations, and how you can use this knowledge to your advantage as a new trader.
Binance Academy: The Basics
The Binance Academy is a learning center for all things Binance. You can use the Academy to learn about the history of Binance, its services, and how to use them. The Academy also teaches you how to use technical analysis, how to read market sentiment, and how to create a trading strategy for yourself.
If you are new to trading, the Academy is a great place to start — it has a host of resources that will teach you everything you need to know about trading cryptocurrency. The Academy is divided into 6 main sections:
Fundamentals, Trading Tools, Learning Center, Trading Course, Info on Binance, and Binance Academy History.
Each section contains information that is useful to all trading levels — however, this article focuses on the ‘Fundamentals’ and ‘Trading Course’ sections.
Learning at Binance Academy
If you are new to the world of cryptocurrency trading, the best place to start is the ‘Fundamentals’ section of Binance Academy. Here you will find a host of information regarding the basics of trading and the crypto market as a whole.
The Academy’s ‘Fundamentals’ section is split into three subsections: The Basics, The Crypto Market, and Tools and Strategies. Here’s what you can expect to learn in each section:
- The Basics: This section covers the history of cryptocurrency, the basics of blockchain, how to buy cryptocurrency, the difference between centralized and decentralized exchanges, and how to store your crypto safely.
- The Crypto Market: This section covers the top market cap coins, fundamental analysis, and technical analysis.
- Tools and Strategies: This section covers strategies for beginners, strategies for intermediate traders, advanced strategies and tools, and ICO investment strategies.
Fundamental and Technical Analysis
The ‘Fundamentals’ section is also where you will find information on fundamental and technical analysis. Fundamental analysis involves examining the underlying value of an asset. This can include researching a company behind a particular coin, its team, the product it creates, and its potential for growth.
Technical analysis, on the other hand, is used to analyze past price movements in order to predict future price trends. Technical analysis includes a variety of different tools and indicators, including the RSI, MACD, and Fibonacci Retracement.
The ‘Trading Course’ section of Binance Academy focuses on helping you create a trading strategy. It explains the importance of having a trading strategy, the different types of strategies you can use, and the different indicators you can use to create your strategy.
The Academy also provides advice on how long you should keep your strategy, how to make adjustments to it, and how to avoid emotional trading.
The Binance Academy also has information on trading strategies that you can use to create your own trading strategy. Trading strategies are rules and guidelines that you use to create trades.
They can be used to create both long and short trades, and can include fundamental and technical analysis. There are a number of different types of trading strategies. These include:
- Scalping: Scalping involves making short-term trades that have very short timeframes. It is often used by traders who trade frequently.
- Swing Trading: Swing trading involves holding positions that have longer timeframes. Swing trading is most effective when the market is trending.
- Day Trading: Day trading involves holding positions that have very short timeframes. Day traders usually hold positions for less than a day, sometimes for a few hours or even less.
- Position Trading: Position trading involves holding positions for long periods of time (weeks, months, or years).
Binance Info and Learning Center
The ‘Binance Info and Learning Center’ section of Binance Academy focuses on helping you understand market sentiment and how to read it. Market sentiment is the total overall feeling of the market, as indicated by investors and traders.
It can be positive, negative, or neutral. Market sentiment can be a good gauge of the general health of a particular coin. There are two ways that you can read the market sentiment of a particular coin.
The first way is analyzing the level of volume behind a specific coin. The higher the volume, the more interest there is in that coin; the lower the volume, the less interest there is.
Alternatively, you can read the level of interest in certain cryptocurrencies from various online communities. You can visit websites such as Reddit, Twitter, and Facebook to read what people are talking about.
The ‘Trading Course’ section of the Binance Academy provides trading insights from professionals in the finance sector. It also provides trading insights from Binance Academy employees, such as Binance Labs Investment Director Simon Zhu and Binance Labs Product Director Austin Kim.
This section also provides trading insights from Binance’s CEO and founder, Changpeng Zhao (CZ). The insights in this section cover attention to detail, risk management, trading psychology, trade execution, and resolving conflict.
The ‘Binance Fundamentals’ section of the Binance Academy focuses on the founding, history, and services provided by Binance. Here you can find information on Binance’s team, its values, and how it came to be one of the most popular crypto exchanges in the world.
The ‘Binance Fundamentals’ section also provides information on Binance’s Trust Wallet, Binance Coin (BNB), Binance Launchpad, and Binance Charity.
How to use the Binance Academy
When you first get started in the cryptocurrency trading world, it can often feel like a dark and daunting place. There is a lot to take in, and it can be challenging to know where to begin. Binance Academy provides you with all the information you need to get started in crypto trading and to use Binance’s services.
You can use the Academy to learn about the history of Binance and how its services work, as well as how to read the market sentiment of various coins. You can also use the Academy to learn about trading and creating a trading strategy for yourself. The more you learn, the better prepared you will be to begin trading.
The Binance Academy is a great place to start your crypto trading journey. It provides you with all the information you need to get started and to use Binance’s services. You can use the Academy to learn about the history of Binance, its services, and how to use them.
The Academy also teaches you how to read the market sentiment of various coins. You can also use the Academy to learn about trading and creating a trading strategy for yourself. The more you learn, the better prepared you will be to begin trading.
Binance Tools and Services
The ‘Binance Tools and Services’ section of the Binance Academy provides information on Binance’s trading tools and services. It also provides information on the Binance Launchpad, Binance Info, and Binance Charity.
- Binance Trading Tools: The Binance trading tools include Binance’s ‘Charting Tool,’ ‘Trading View,’ ‘Trade History,’ ‘Orders and Positions,’ ‘Funds and Exchange,’ and ‘Reports and Messages.’
- Binance Launchpad: Binance Launchpad is a service that allows new projects to be listed on Binance. This service is free and open to all projects.
- Binance Info: Binance Info is an information-based website that provides information on more than 1,400 cryptocurrencies.
- Binance Charity: Binance Charity was launched in May 2019. It provides grants to non-profit organizations.
Lessons on Understanding Coin Markets and Asset Classes
The ‘Coin Markets and Asset Classes’ section of the Binance Academy provides information on the different markets and asset classes of cryptocurrencies.