How to use Binance in the UAE

How to use Binance in the UAE

Any enthusiast of the world of cryptocurrencies and who wants to exchange crypto or safely keep them will probably need an exchange platform.

That is a service with the possibility of buying and selling different cryptocurrencies (in this case) at values ​​determined by the market. Without a doubt, one of the most popular exchanges today is Binance, which has gained recognition in the crypto world due to the wide variety of currencies it offers and it's very low transaction fees.

In this article, we would be talking extensively about how to register and how to use Binance in UAE successfully.

How to register on Binance?

The first thing we should know is that registration on Binance is completely free. Also, it is available to people from anywhere in the world. If you want to register with Binance you will only need an email and a password. The main page shows you in the upper right part the options "Start session" or "Register". This last button will take you to a file that will be filled with the following information:

  • Email
  • Password
  • Password confirmation
  • Referential ID (This is optional)

Upon completion of registration, Binance will send you an email to confirm your account creation request. The link that comes in this email will verify you're a user and with it the possibility of using the Binance exchange.

The next step would be to put your email again together with the password to log in to the platform.

What to do on Binance

The Binance platform presents us with a menu with multiple options. On the upper left side (for desktop version) we find a drop-down menu with options related to the company. There we will see the following sections:

  • Exchange: Blockchain and cryptocurrency exchange. Real-time analysis of the cryptocurrency market will appear here.
  • Academy: Education about blockchain and cryptocurrencies. We will find courses and tutorials on these topics.
  • BCF: charitable foundation. Information on company charities and donation options.
  • Info: Information about cryptocurrencies, such as prices, percentage of change, and volumes traded.
  • Labs: Incubator for the most outstanding blockchain projects. Here we are introduced to the team of the company that develops blockchain solutions.
  • Launchpad: Platform for users to launch their tokens.
  • Research: Information about the company (who they are, mission, tasks
  • Trust wallet: Official Binance wallet for cryptocurrencies.
  • But we also have other categories with folding menus on the upper right side (desktop version), in which the following options appear:
  • Funds: Balances, deposits, withdrawals, history (of deposits and withdrawals), and buying with a credit card.
  • Orders management: Open orders, order history, and transaction history.
  • Careers: Application for studies with the academy.
  • Support: List of most common user problems and their solutions.
  • News: Latest publications in the press about the company and other topics in the crypto world.

How to deposit and withdraw funds on Binance

To buy or sell cryptocurrency in Binance, logically we need to have funds with which to carry out such transactions. This is done as follows:

  •  Go to the "Fund" menu and select the "Deposits" option.
  • Choose from the drop-down menu the option of currency to deposit funds. It must be Bitcoin or Ethereum. Among them are more than 100 different altcoins.
  • Copy the deposit address provided by Binance and send the amount we need there. 

Binance now also accepts credit card (TDC) payments. This option also appears within "Deposits". To do this we must cancel the amount in dollars or euros that corresponds to the number of cryptocurrencies that we want to buy. Once the calculations are made, the website will lead us to register our credit card details and process the payment, like any other purchase with TDC.

If, on the other hand, you want to withdraw funds from Binance, go to the same section of "Fund", in "Withdrawals", and look for the cryptocurrency that you want to withdraw. For this transaction, it is best to have two-factor authentication. This time you will be the one who will place the purse address at which you want to receive the money. After sending the withdrawal request, expect an email that will let you know that the request was verified.

How to buy and sell cryptocurrencies on Binance?

To buy and sell cryptocurrencies on Binance, go to the "Exchange" menu and select the "Basic" option. This will automatically show a blackboard full of numbers and graphics that move in patterns.

The next thing to do is to go to the quadrant with the coins available to exchange, which is located on the right side of the screen (desktop version). There, select if you want to buy using Bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), or Tether (USDT). For each option, a list of cryptocurrencies will be updated. With the search bar, you can get the one you want easier and faster.

With the cryptocurrency selected, a box will appear in the lower central part of our screen with two options: Buy or Sell. We only have to manually indicate the amount of cryptocurrency we want to buy or press the predetermined percentage of the available balance. Once this operation has been carried out, our transaction will be available in the "Order management" menu, in the "Open orders" option. This will happen while the order is in process. When completed, the balance of this movement will be available in the "Funds" menu, within the "Withdrawals" option.

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