Trading on Binance
Binance has various levels of trading as per user trading experience and level of knowledge in cryptocurrencies. Basic trading is the easiest and is used by the majority of new traders. Classic traders use an interface with an order book well-partitioned into buyer sections and seller sections with the equilibrium price in between.
Classic traders can trade limit orders, market orders, and stop-limit orders. For limit orders, users can set a price they want to buy at and only complete the transaction when the cryptocurrency attains the selected price. A market order means that you are taking the prevailing market price.
Advanced traders have access to a full range of trading tools and features charting and technical analysis. Technical analysis is done to predict the future price and market movement. Other features include trade-automating bots that allow traders to automate their buying and selling.
Binance has a well-arranged order book displaying the buying side, the selling side, and the market price. Users can also set a limit on cryptocurrencies they intend to use, which gives them better management of their assets.
Binance users can also trade future, but they require prior trading experience due to the high level of risk involved. The platform also offers leverage of up to 125X.