Binance is one of the most popular cryptocurrency exchanges in the world with very low trading fees.
In this guide, I’ll show you how to open a Binance account with a 10% fee discount which applies to both spot and futures markets.
How to open a Binance account in 2020? (get a 10% fee discount) Binance registration guide
You can easily create your Binance account with a 10% trading fee discount by following the steps below.
Step 1: Go to the Binance registration page
First click the link to go to the Binance registration page: Register on Binance
Step 2: Fill out the Binance registration form
Step 3: Verify your email address
Check out your email address for the confirmation code. After confirming your email address, proceed to set up 2FA for your Binance account.
Step 4: Enable 2FA on your Binance account
Click on Google Authentication to enable 2FA on your Binance account or choose SMS authentication to receive 2FA codes for your account.
Install Google Authenticator app on your mobile device by downloading it from App Store or Google Play. Scan the QR code with the app, it will automatically be added to your app as you scan the qr code. Backup both your QR code and text version of it to recreate 2FA if you lose your mobile device.
In the last step, enable 2FA by entering your login password and 2FA code, and you are ready to use your Binance account!
Binance spot trading fees
Binance spot trading fees are as follows:
|30d Trade Volume (BTC) &/or BNB Balance||Maker||Taker|
|< 50 BTC or ≥ 0 BNB||0.10%||0.10%|
|≥ 50 BTC & ≥ 50 BNB||0.09%||0.10%|
If you trade more than 50 BTC in the spot markets in the past 30 days and hold ≥ 50 BNB, your fee rate for spot trading will be updated and you’ll enjoy lower fee rates.
If you create your Binance account by clicking this link, you’ll receive a 10% trading fee discount. You can also hold some BNB in your account to pay fees in BNB and receive an extra 25% fee discount.
How to buy cryptocurrencies on Binance?
Building a cryptocurrency portfolio on Binance
Binance is a crypto to crypto exchange, so it is not possible to deposit fiat currency like USD into Binance to buy cryptocurrencies except the option of buying with credit card and paying very high fees.
To trade on Binance, you should first buy Bitcoin or Ethereum on another exchange that allow users to deposit fiat currencies.
After that, deposit Bitcoin or Ethereum you bought into your Binance account. You can see your Bitcoin and Ethereum deposit addresses by clicking Funds/Balances and then deposit buttons.
Once you have Bitcoin, Ethereum or any other coin in your Binance account, you can exchange them for other coins and tokens to make cryptocurrency portfolios.
You can make a portfolio with dapp platform coins such as Ethereum, EOS and TRON or other cryptocurrencies. Here is an example of a cryptocurrency portfolio made with decentralized exchange tokens:
Decentralized exchange tokens
Do you believe in the potential of decentralized exchanges? You should, as even the biggest centralized exchanges like Binance (Binance DEX), Bitfinex and Coinbase built or acquired a decentralized exchange.
You can find and buy tokens below on Binance to make a cryptocurrency portfolio that consists of decentralized exchange tokens:
Airswap is a network for decentralized, peer-to-peer trading of Ethereum-based tokens.
Bancor is a decentralized cross-chain liquidity network based on the Bancor Protocol. It allows users to swap tokens with its automatic price determination and autonomous liquidity mechanisms which are powered by smart contracts. BNT is used as a utility token in the network.
Kyber Network (KNC)
How to track and manage a cryptocurrency portfolio?
Tracking a cryptocurrency portfolio might be a bit difficult especially if you hold your cryptocurrencies in a exchange where your balance is affected by new transfers and trades.
Instead, you can use CryptoCompare to create a cryptocurrency portfolio. It comes with lots of features, you can view the price chart of your portfolio, the rate of profit/loss for each coin and whole portfolio and the best and worst performing coins. Also, you can edit your cryptocurrency portfolio when you make new trades.