Many cryptocurrency beginners feel overwhelmed when first encountering complex exchange interfaces after registration. This 3-minute guide will walk you through Binance’s most fundamental trading method – spot trading – in three clear steps: depositing funds, buying, and selling crypto assets.
Understanding Spot Trading Basics
- Deposit: Fund your account before trading begins
- Buy: Purchase digital assets (Bitcoin, Ethereum, etc.) at your chosen price
- Sell: Exchange your crypto holdings at specified prices
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Step 1: Depositing Funds
Accessing Your Spot Wallet
- Log in to Binance’s official website
- Click “Wallet” in the top-right corner
- Select “Spot Wallet” from the dropdown
Initiating Your Deposit
- Within your spot account, click “Deposit”
- Choose your preferred cryptocurrency (we recommend USDT via TRC20 for low fees)
- Copy the unique deposit address shown (e.g., TUStjNbkW3Bkij7aPDWJTctGZi3SPHXJZX)
Important Notes:
– Only send USDT to this deposit address
– Confirm you’re using TRC20 network
– Transactions typically complete within minutes
Step 2: Buying Cryptocurrency
Navigating the Trading Interface
After successful deposit, familiarize yourself with these key sections:
- Order Book (shows buy/sell orders)
- Red zone: Sell orders
- Green zone: Buy orders
- Market Pairs (under Binance logo)
- Price Charts (central display with technical indicators)
- Trade History (bottom-left section)
- Trading Panel (right-side interface)
Order Types Explained
| Order Type | Description |
|---|---|
| Limit Order | Executes at your specified price |
| Market Order | Instantly fills at best available price |
| Stop-Limit | Advanced order combining stop/limit features |
Example Purchase:
1. Select BTC/USDT trading pair
2. Choose “Limit Order”
3. Enter price (e.g., $10,000) and quantity (100%)
4. Confirm order – funds deduct from your USDT balance
5. Monitor “Open Orders” section until fulfillment
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Step 3: Selling Cryptocurrency
Executing a Sale
- Navigate to your BTC holding in the spot wallet
- Select “Sell” and choose order type:
- Market Order: Immediate sale at current price
- Limit Order: Set your target sale price
- Enter amount (specific quantity or percentage)
- Confirm transaction – proceeds convert to USDT
Key Considerations for Traders
Security Measures
- Always double-check wallet addresses
- Enable two-factor authentication (2FA)
- Start with small test transactions
Transaction Optimization
- Compare network fees before transfers
- Monitor market depth before large orders
- Consider time-in-force parameters for limit orders
FAQ Section
Q1: How long do deposits take to process?
Deposit times vary by network congestion, but TRC20 USDT transfers usually complete within 5-15 minutes.
Q2: What’s the minimum trade amount on Binance?
Minimums vary by trading pair. For BTC/USDT, the minimum is 0.000001 BTC (as of 2025).
Q3: Why choose limit orders over market orders?
Limit orders prevent slippage by guaranteeing your price, while market orders prioritize speed over price precision.
Q4: How do I cancel an open order?
Navigate to “Open Orders”, locate your pending transaction, and click “Cancel”.
Q5: Are there fees for spot trading?
Binance charges a 0.1% spot trading fee, which reduces with higher trading volumes or BNB holdings.
Q6: What’s the difference between TRC20 and ERC20?
These are different blockchain networks. TRC20 (Tron) typically offers lower fees than ERC20 (Ethereum) for USDT transfers.
Final Tips for New Traders
- Practice with small amounts initially
- Bookmark Binance’s official fee schedule
- Monitor the “24h Change” column when selecting assets
- Consider setting price alerts for your target levels
Remember, successful trading combines technical knowledge with disciplined execution. Start small, learn continuously, and gradually develop your strategy as you gain experience in the dynamic world of cryptocurrency trading.