If you're looking for the ultimate Binance tutorial for beginners, this is the video for you
We're going to be covering how to open an account, how to buy and sell cryptocurrencies
the beginner and advanced tools that are built right into the app, and more
Now, Binance is the world's largest cryptocurrency trading platform by Trading Volume
and it was founded back in 2017. They have over 270 million users across more than 180 different
countries. Binance is known for having one of the widest selections of digital assets
some of the best features, and low overall trading fees. So let's jump into my phone now
and get started, but real quick guys, make sure you drop a like and subscribe to support this
channel and help to make videos like this one possible. The first step is going to be visiting
ryanoscribner.com slash Binance, and this is going to redirect you over to the App Store
or you can simply just open up the App Store yourself if you want and search for Binance
Now since I'm in the US I am going to be utilizing the Binance US version of the app but there's
a separate version of the app, the regular Binance app, if you are using it from other countries
Now I already have it installed so I'm just going to go ahead and open the Binance app
now Let start by talking about the account opening process here with Binance and I already had an account that was partially opened here so i won be able to show you the full steps but i will give you a quick recap of what to be expected for starters you need to be a u resident for the
binance us version of the app with a valid social security number and binance is going to ask you
for this during the verification process binance is required to collect this information because of
of KYC or know your customer laws to verify your identity and then potentially report your trading
activity to the IRS through various tax forms now in addition the verification process might also
involve taking a photo of the front and back of your government ID as well as recording a short
video selfie and lastly there are certain states in the US where Binance is not currently available
I'll put that on screen now so you can pause it and review it yourself so go ahead and take a look
that and make sure your state is supported with finance us and then once you complete all of those
verification steps you will have to fill out a simple investor questionnaire this basically asks
you about your employment sources of income and things like that and it's a required step to open
just about any financial account today after that you have completed the basic verification of your finance us account now depending on the features and trading limits that you looking for you might decide to do the advanced verification step here in the settings later on But for most people the basic verification is plenty to get started with the app
So the next thing I want to do is give you a quick tour of the app, and then we're going to break
down the different features. So on the homepage here, you have the options to buy, sell, convert
and transfer. We're going to take a look at all of those shortly. There's also staking and this
new boost section we're going to talk about. And below that is going to be a list of favorites
This is going to be the most popular cryptocurrency. So we have Ethereum, Bitcoin, and BNB, which is
actually the native token associated with Binance. So they do have their own token. If we click over
here to market cap, this is going to be the largest cryptocurrencies in terms of the total amount
invested in them. And we can see that list here. And then under the explore tab here, this is
actually going to be lists of different cryptocurrencies. So there's a top gainer section, new listings, most bought
staking assets, price drops, most sold and most favorited. So just for the heck of it, we'll click here on top gainers
and this is going to be tokens that have had the largest percentage increase in the last 24 hours You can also sort this by new listings most bought and then go through all of those different lists that are pre Now just in case you are wondering Binance US supports
the trading of about 190 different tokens. So you are going to have a very wide selection of assets
available here for trading. But we're going to scroll down now and keep on looking. We also have
top movers listed there at the bottom. And then if you click over here to your portfolio tab
once you actually purchase cryptocurrencies in the app, you're going to see those listed here
And you have the option to deposit and withdraw in terms of funds from your bank account
And your cash balances are going to be listed below the cash balances section
Now the next tab over here is going to be the markets tab. This is gonna show you the favorites
which you can customize yourself. And then you can take a look at stable coins
and then various trading pairs related to Bitcoin and then US dollar trading pairs
This is very similar to the other section we just looked at, the explore section
But you can use this to track cryptocurrency prices and get an idea on what's going on in the overall market
And then if you click on this orders button, this is going to show you your trading history as well as open orders
But that's going to come into play when you actually start placing a trade here within the Binance app
The next section here is the earnings