How to use a Cryptocurrency Exchange – Binance Basic Interface

hello by Nancy ins what are you up to today apparently you'd like to learn how to use the by Nance exchange and that's what I'm here to show you how to do now I personally really like my Nance I use it almost daily it's my favorite exchange and for a very good reason you can see here on coin market cap that it is the number one exchange by volume currently and I see no reason why that should change finance has a great user interface great user experience they're making constant improvements and branching out into all different areas of crypto they have excellent customer service which is one of my favorite things about them and as you can see they have great liquidity as well so let's head over here we're at the home page and you can see here on the home page we have listings of all the different pairings here according to whichever main coin you would like to pair them with and there's two ways to get to the basic exchange from here you can come up here and click on basic or as you can see some of these stars are yellow there are my personally favorite coins coins that I've owned or coins that I like to track or that I'm looking at purchasing in the future so you can just click on favorites here and you can find one of your favorite trading pairs and that will take you straight to the finance basic exchange so I'm going to go through every feature on this page I'm going to try to make it simple clear and quick for you so in the top right here we have the trading pair and we have all of our information up here on the top last traded price current volume one general rule of thumb to go by when you're trading if you're planning on getting in and soon thereafter getting out of a position generally want to have about one to five hundred in volume so as we have 1,600 Bitcoin in volume you could be trading up to three Bitcoin and because of the liquidity there you should be able to get in and out of your position pretty easily could probably stretch it up to four or even five and not have a lot of problem with that so let's just work our way through each section here here we have the order book we have the cells here and the byes this column shows the price and the nifty thing if you're making an order you can just click on the price here and it will automatically load into the buy and sell box and then you can come in and edit it right here we have the amount and Finance coin and over here on the right column we have the total in Bitcoin now check out these toggle boxes if I want to look through one side of the order book either the buys or sells I can click on this toggle here and then it will load all the bids in the order book and I can come and I can scroll through those all the way down here to the last buy order okay so that's pretty nifty if you want to examine the order book so we'll just go back to the default view here here we have a decimals toggle I personally never use this but if you wanted to look at orders that only had a certain amount of decimals you can click on that and here you can see we only have one bid and one ask at four decimal points so like I said I usually never touch that okay so moving over here we have the chart now on the basic exchange you can see here we have some moving averages and I can come in here and I can change the input of the moving averages and I can also save this as a default setting if it's something that I'm going to regularly use but on the basic exchange I am limited in the number of indicators that I can use I see no option here to choose an indicator so I have moving averages here I have volume I can scroll in and out just scrolling up and down on my mouse or I can slide here if I want to go more macro I can zoom in and out to different time frames I can even go to the weekly so there's my weekly chart if I want to get an idea of the major trend and Finance coin we generally have a uptrend here and we're coming down to test the 50-day moving average we do not yet have a 100 or 200 day now this here goes along with the order book I can click on depth I can get a visual of the buy orders compared to the sell orders and I can even slide this to get an idea of what's going on here we have a big cell wall and it looks like right now we have many more sell orders than buy orders so there's a good chance the price could soon be going down and we can look right here and we can see recent trade history and as you can see it's mostly sell orders happening right here or you can click on yours and you can see your personal recent trade history as well up here in the top we have different pairings and you can do a search for whatever pairings that you would like to search for and you can view by percentage change I prefer to look at a weekly percentage change myself but that's there if you'd like to view that and then you can view the volume and you can toggle the volume here to see the smallest amount of volume for the day or the largest amount of volume for the day okay and then down here in the lower right hand corner this is very interesting if you toggle this you can view recent market activity here in five minutes we've had a four percent jump in IO Tex we've had some some losers here and then we have a new 24-hour high so looking at this can be very interesting if you want to get a quick glance at the market and you can scroll down through some of those okay and then right here we have our orders and there are videos on how to do limit orders market orders and stop limit orders if you would like to view those videos when you click in here it's going to tell you the amount that you have and you can choose the percentage one hundred fifty percent 25 or 75 and then right here it will automatically load for you and you can go ahead and place your order okay so scrolling down then we have a view of any open orders right now I have an open limit order to sell Wan chain at this price and I'm going to go ahead and cancel that now I can click here if I had more orders I can cancel them all or I can view a list of my limit orders and a list of my stop limit orders so I just click cancel and then I get a confirmation that the order has been cancelled and I can go in and I can edit it for a different price if I wish but first I have to go over to the Wan chain pairing to do that you can view your 24-hour order history here as you can see I had a cell that was cancelled if I click more it will take me to another page that shows me a more extensive history of all my orders if I click hide other pairs this is going to simply hide any orders that are not with this current pairing that I'm dealing with right here okay last but not least if you click on this moon here you can switch over to night mode if you prefer this color scheme and this is this color schemes a little bit more similar to the advanced look but there you have it that is how you use the buy Nance basic exchange so thanks for watching and happy trading

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