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Binance tutorial on using DEX Beginner’s Guide to Binance DEX E

Date:2024-04-27 19:13:33 Channel:Build Read:
In the field of digital currency, Binance DEX exchange has always attracted much attention. As a decentralized exchange, it provides users with greater security and privacy protection. This article will delve into the Binance DEX usage tutorial and provide beginners with a comprehensive guide to help them better understand and use this platform.
First, let’s understand the basic concepts of Binance DEX. Binance DEX is a decentralized exchange launched by Binance, a well-known digital currency trading platform. Different from traditional centralized exchanges, Binance DEX pays more attention to users' asset security and transaction privacy, and uses blockchain technology to achieve decentralization and non-tampering of transactions. This innovative trading method attracts more and more digital currency enthusiasts and investors.
Before using Binance DEX, users need to create a wallet. Wallets are tools for users to store, send and receive cryptocurrencies on the blockchain. In Binance DEX, users can choose to use an existing wallet or create a new wallet. Whether it is a hardware wallet, desktop wallet or mobile wallet, it can all be connected and managed on Binance DEX. Through the wallet, users can conveniently manage their assets and conduct safe transaction operations.
Next, let’s learn how to trade on Binance DEX. On Binance DEX, users can conduct various types of transactions including limit orders, market orders, and stop-loss orders. A limit order refers to an order for buying or selling at a price specified by the user, a market order refers to an order that is executed immediately at the current market price, and a stop loss order is an order that is automatically executed when the price reaches the stop loss price set by the user. Through these different types of trading methods, users can flexibly conduct trading operations and achieve better investment returns.
In addition, Binance DEX also provides a rich selection of trading pairs. Users can trade various mainstream digital currencies on Binance DEX, such as Bitcoin, Ethereum, Litecoin, etc., as well as some emerging cryptocurrency projects. This provides users with more investment options, allowing them to make trading decisions based on their needs and risk appetite.
In addition to basic trading functions, Binance DEX also focuses on security and privacy protection. When users trade using Binance DEX, all assets are stored in their own wallets instead of being handed over to the exchange for custody. This means that users have complete control and can withdraw assets or transfer assets to other addresses at any time. In addition, Binance DEX uses advanced encryption technology and multi-signature mechanisms to ensure the security and privacy of user transactions.
Overall, Binance DEX, as a leading decentralized exchange, provides users with a safe and convenient digital currency trading experience. Through the introduction of this article, I believe that beginners will have a clearer understanding of how to use Binance DEX. I hope that everyone can use this platform to conduct more secure and efficient digital currency transactions and realize the dream of financial freedom.

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

DEX is a decentralized exchange with a decentralized node network where you can hold your own private keys and manage your own wallet. via Binance
DEX provides users with a different balance of security, freedom and ease of use, allowing everyone to take more responsibility and better control their assets. Binance
DEX is a secure local market built on the BNB chain, allowing the exchange of digital assets issued and listed on DEX. All transactions are recorded on-chain, forming a complete, auditable ledger of activity. Many investors want to know about Binance
DEX usage tutorial, let the editor of Binance Circle introduce to you the beginner’s guide to Binance DEX exchange.

 Binance DEX usage tutorial

·Trading activities

In the lower left corner of the interface, you can find current orders, historical orders, historical transactions and assets.

Current Orders: This section displays open orders that have not yet been fully filled. You can view all orders on the blockchain by viewing their TxHash.

Historical Orders: This section displays orders that have been placed, completed, uncompleted or canceled. You can view all delegations on the blockchain by viewing their TxHash.

Historical Transactions: This section displays the transactions you have executed on the exchange.

Assets: This section displays all assets currently in your Binance Chain wallet.

For more information about orders, visit the Binance Chain documentation

·Limit price order

Binance DEX currently only supports limit orders. Please browse our article on how to use limit orders for a more detailed tutorial.

The limit order section allows you to define the bid/ask price and the quantity you want to trade.

·Order book

The order book displays all unfilled orders currently on the exchange. The top half is the ask portion of the order book, where you will see sell orders. The lower half is the bid section of the order book, where you can view buy orders for that trading pair.

·Latest transaction

You can view the latest transaction history that occurred on your currently selected trading pair.

·Trading pair

Here you can select the trading pair you want to trade. This section will display the asset's current price, percentage change (24 hours), and 24-hour trading volume.

 What about Binance DEX?

Binance DEX will support proven secure and decentralized software and hardware wallets. Binance’s Trust Wallet vs. Binance DEX and Ledger
Nano S is fully integrated and will support more wallets over time.

“We are working towards decentralized access to cryptocurrencies,” Trust Wallet founder Viktor
Radchenko said. “We want users to have full control over their private keys and easy access to decentralized applications to maximize cryptocurrency’s potential and mainstream adoption. Binance
DEX is another step towards our vision of greater financial freedom. "

Binance.com launched in July 2017 and grew to become the world’s largest in just six months. Its best-in-class technology, focus on security, and loyal community base have made Binance one of the most popular crypto trading platforms in the industry.

Binance
DEX is a decentralized cryptocurrency exchange created on top of Binance’s blockchain, Binance Chain. Its main goal is to create a safe and reliable decentralized trading platform. Binance
With over 100 active coins listed and available for trading on the exchange, DEX eliminates the middleman and allows users to trade directly with each other.

The above content is the currency circle editor’s introduction to the Binance DEX exchange beginner’s guide. Binance
DEX is one of the safest exchanges for two main reasons. First, Binance’s servers are spread across the world, rather than concentrated in one place. This means that the exchange is virtually immune to hackers. If one server fails, the exchange can rely on other servers with much less impact on the entire network. Make Binance
The second reason why DEX is safe is its truly decentralized nature. When you trade on an exchange, the exchange is not involved in the transaction because users trade directly with each other. The same goes for hackers, as they cannot access your assets.

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