How to use Binance Convert on the Binance website?

1. Log in to your Binance account and go to [Trade] - [Convert & Block Trade].
ow as 0.01 USD.
You can get a Binance Convert quotation instantly on the website or App. The conversion price will be based on the current market conditions with zero traditional trading fees. You can get more competitive quotes for large orders than buying or selling on the Spot market.

You may also access Binance Convert from your Spot Wallet.

 

2. Choose either a market or a limit order to convert your assets.
•    [Market] executes the conversion at the current market price.
•    [Limit] executes the conversion at the limit price you set. Please note that even if the limit price is reached, there is no guarantee that your order will be filled.
You may use the funds in your Spot or Funding Wallet. Click [Spot wallet] to switch to [Funding wallet] and vice versa.

Market order
3. Go to the [Market] tab and select the tokens to convert. For example, converting USDT to BNB. Enter the amount of USDT to use, or click [Balance] and the system will automatically enter the maximum available amount you can use. Click [Preview Conversion].

4. You’ll see the amount you can receive. If you’ve happy with the rate, click [Convert] to confirm your order. Please note that the quote will automatically refresh after some time to reflect the latest market price, and the amount you can get will be updated.

5. The transaction will be processed immediately. The converted token will be distributed to the selected wallet.
•    To view the converted tokens, click [Go to Wallet].
•    To check the trading statistics of the token you just converted, click [View More].
•    To use Binance Convert again, click [Trade More].

Limit order

How to create a spot grid trading strategy?

1. Log in to your Binance account and go to [Trade] - [Trading Bots].

2. Go to [Create Strategy] - [Create].

3. You will be redirected to the Spot Grid Trading interface. Go to the market you want to trade, for example, BTC/USDT.

4. Select [AI], [Popular], or [Manual].
•    AI: It will automatically generate parameters based on the technical analysis of the symbol's price and the time period you select.

 

Please note that the system will use market prices in different time intervals to calculate the most suitable strategy parameters for you, but there is no guarantee how long your grid strategy will run. The recommended parameters will vary depending on the time period you select.
•    Popular: You can view the available strategies and their respective ROI, PnL, popularity and runtime. To create a spot grid order using an existing strategy, click [Copy].

 

•    Manual: You can copy the parameters from the [AI] or [Popular] tab and modify them into your own grid strategy, or use the [Arithmetic] or [Geometric] mode to set parameters for your grid strategy.

 

For more details, please refer to How to Use Spot Grid Trading Auto Parameters.

How to use an existing parameter to create a spot grid trading strategy?

1. Log in to your Binance account and go to [Trade] - [Trading Bots].

2. Go to [Bot Marketplace] to search for existing strategies. Select the market, running time, ROI, and zone to filter.

 

3. You can view the available strategies and their respective ROI, PnL, popularity, runtime, and minimum investment by clicking [Copy]. To create a spot grid order using an existing strategy, enter the investment amount and click [Create].
Please note that due to differences in market conditions, these preset parameters do not guarantee to deliver the same results.

4. You can adjust parameters like [Arithmetic] or [Geometric] mode and the number of grids by [View Parameters] - [Customize Parameters]. You can also set the order's trigger price and the stop-loss/take-profit price. Click [Create].
Please note that due to differences in market conditions when creating an order, using a shared parameter to create your order does not guarantee to deliver you the same result.

5. Your order is successfully created. To view or cancel your grid trading strategy, go to [Running] on the trading page.

What You Need to Know About Block Trades

Main Takeaways
Block trades are large trades made between two parties.
Block trades are a convenient way of buying or selling a sizable amount of cryptocurrency. 
Binance P2P is a secure platform that lets you quickly buy or sell large amounts of Bitcoin and other cryptocurrencies with verified block merchants.
Looking to buy or sell a large amount of crypto? Learn more about block trades and how you can safely trade crypto in bulk according to your preference.

 

Block trades are large trades with a fixed price made between two parties. In traditional markets like the stock exchange, block trades involve 10,000 shares or more. However, this type of trading isn’t exclusive to equities. Cryptocurrency traders often rely on block trades to offload or buy large amounts of Bitcoin or other cryptocurrencies. The fundamentals for crypto and stock block trades are similar. Find an experienced third-party intermediary and set an agreed price and amount you want to buy or sell. 
If you’re interested in making a large crypto transaction, try Binance P2P, the number one crypto peer-to-peer (P2P) marketplace worldwide. We offer a secure platform that lets you quickly buy or sell large amounts with verified block merchants in more than 300 payment methods and 70 local currencies. Get started by creating a Binance account, or you can read on to learn more about block trades, how to place them and how to become a block merchant. 
Block Trade Pros and Cons
As mentioned before, block trades are a convenient way of buying or selling a sizable amount of cryptocurrency. However, block trades may not be suitable for your trading needs. To give you a closer look, we’ve outlined a complete list of the advantages and disadvantages of block trades below. 

Pros
Minimize slippage: If you try to make a large transaction on the Spot market, there’s a high probability you’ll encounter problems like slippage. For example, you set a sell order at $8, but only a  few buyers match your order. This results in your trade slipping in value and selling at a lower price than desired. 
Low fees: With peer-to-peer marketplaces like Binance P2P, you can easily make large-volume crypto trades with low fees. 
Preference: Peer-to-peer marketplaces let you trade on your terms, with your preferred payment method and local currency. At Binance P2P, you can choose from more than 300 payment methods and 70 local currencies.
Cons
Security: Due to the P2P nature of block trades, it’s vital that you transact on a trusted platform with an experienced block trade merchant. You don’t want to get caught trading with scammers, malicious parties or fraudulent platforms. Fortunately, user security is a top priority at Binance P2P. Our marketplace provides strictly-vetted verified merchants, industry-leading escrow service and a responsive customer service team in the event of a dispute or an appeal. 
Capital tie-up: The last thing you want to happen is a significant market movement in the middle of your block trade. You agree to a fixed price, but the market suddenly moves drastically, and now your funds are tied up. Every trade on Binance P2P lets you easily contact and communicate with your trading counterparty, ensuring a smooth and fast transaction.

 

Trade Bitcoin on the Binance P2P Block Trade Zone 
Now that you understand the fundamentals of block trades, here are the steps to making your first block trade on Binance P2P. For those already experienced with block trades, you can read our requirements to become a verified merchant on Binance P2P. 
How to place a block trade order?
There are different ways you can find block trade ads on our marketplace homepage: create a search filter or visit our Block Trade Zone.  
Please note: Block trade orders require at least an equivalent value of $50,000 US dollars.
Block Trade Zone: Binance P2P has three different trading zones on the mobile app: Express, P2P, and Block Trade. You can click the [Block Trade] zone to view all available block trade ads in your local currency. 
Please note: P2P Block Trade zone is currently available in RUB, EUR, INR, HKD, NGN, VND, PHP and IDR markets. 
Create search filter: Press the filter icon on the top right of the P2P homepage to only show ads from verified merchants. In this section, you can also filter by payment method and amount of currency. 
Now that you’ve filtered your homepage, you’ll be able to identify block trade merchants by the purple diamond next to their username. Click on their ad posting and complete the trade. Enter how much you want to sell or buy, then select from the available payment methods. 
If you’re a seller, make sure the funds have reached your payment method before releasing crypto assets. For buyers, ensure you promptly send the funds to your counterparty’s payment method. For problems or disputes, file an appeal, and a customer service agent will contact both parties to resolve the issue. If you need more information,  read our block trade how-to guide.
How to become a block trade merchant?
We’re always looking for experienced block trade merchants at Binance P2P. Here are the requirements below: 
High volume order on average.
Able to pay a sizeable one-time security deposit.
Clear a Due Diligence check from our risk and merchant management team.
As a verified block trade merchant, you’ll get exclusive benefits such as 24/7 one-on-one support, verified badges, VIP discounts, better trading tools and a more robust ad management interface.
Start Trading on Binance P2P
Create your Binance account, download the mobile app and complete identity verification. Once your account is verified, you can start trading popular crypto like Bitcoin in bulk with low fees on Binance P2P. 

Types of Binance Trading Bots

Binance offers a variety of trading bot products with different trading strategies and use cases. In this guide, we will cover some of the most popular bots and strategies, which include:
Spot Grid
Futures Grid
Arbitrage Bot
Rebalancing Bot
Spot DCA
Auto-Invest

Spot Grid
The Spot Grid Bot is designed to buy low and sell high within a predefined price range. It divides your investment into multiple smaller orders, placing buy orders at lower prices and sell orders at higher prices. This method allows traders to profit from market fluctuations without needing to predict exact price movements.

 

Futures Grid
As the name suggests, the Futures Grid Bot is similar to the Spot Grid Bot, but it operates in the futures market. It automates trading by placing buy and sell orders within a specified price range. The primary difference is that the Futures Grid Bot uses leveraged trading, which can amplify both profits and risks. It also allows you to open short positions even if you don’t have the underlying asset to sell. 
The Futures Grid bot is suitable for more experienced traders who are comfortable with higher risks and have a solid understanding of futures trading.

Arbitrage Bot
Also known as the Funding Rate Arbitrage Bot, the Arbitrage Bot is a bot that allows users to explore the price differences between different markets. Typically, this bot adopts an arbitrage strategy between perpetual futures contracts and their spot equivalents. 
For example, a user could program the Arbitrage Bot to open a Futures long BTC position when the funding rate is negative and, at the same time, sell the equivalent BTC amount on the Binance Spot market. This way, they can receive the funding fees from their Futures market position while simultaneously hedging against the risks of price change with their Spot order.
The example above is known as a Reverse Carry strategy. In the opposite scenario, the strategy is known as a Positive Carry (i.e., open a short Futures position while the funds are positive and buy the equivalent amount on the Spot market to hedge against market volatility).

For those who are unfamiliar with funding fees, they are payments made between long and short position holders in perpetual futures markets. Such payments ensure that the futures prices align with the spot prices of the underlying asset.
Rebalancing Bot
The Rebalancing Bot helps maintain a specific asset allocation in your portfolio by periodically adjusting the proportions of each asset. This is particularly useful for long-term investors who want to ensure their portfolio remains aligned with their investment goals despite market fluctuations.
For example, imagine that you want to maintain a constant 45% BTC allocation in your portfolio. If the price of BTC goes up while the price of your other assets goes down, your BTC allocation value will become higher than 45%. In such a scenario, the Rebalancing Bot would automatically trade some BTC for other assets to ensure that your allocation goes back to the 45% target.

Spot DCA
DCA stands for dollar-cost averaging. It’s an investment strategy that involves asset purchases at regular intervals to achieve a better average price. You can use the Spot DCA bot to spread out your buy and sell orders over time, helping to reduce the impact of volatility.
For example, you can use the Spot DCA bot to buy more crypto as the price goes down or to gradually sell some of your holdings as the price increases.

Auto-Invest
The Auto-Invest bot is also related to DCA. It helps you accumulate crypto over time with regular purchases. It’s similar to the Spot DCA bot, but it only supports purchases and is designed for longer-term investing. You can create your own Auto-Invest Plan and customize it according to your preferred asset and time horizon.

Binance Trading Bot Marketplace
On the Trading Bots landing page, you can find the Bot Marketplace. It allows users to copy the bot parameters of existing strategies and features the top Grid Trading Strategies on Binance for Spot and Futures. You can filter the options by navigating the Spot Grid or Futures Grid tabs and by using filters such as Market, ROI, and Runtime.

How to Create a Binance Account

Before you can buy your first bitcoin or BNB, you’ll need to open an account.
1. Head to the Binance homepage and click [Sign Up] in the front page or top right corner.

2. Input your email address and choose a secure password. If you prefer, you can also sign up using your mobile number rather than email.

 

3. Type the 6-digit verification code you received via email or phone number and click [Next].

4. Create a strong password with at least 8 characters, 1 number, and 1 upper case letter. Don’t share it with anyone.

5. Once you’re verified, you should now be set up with your Binance account. You’re one step closer to buying cryptocurrency, so let's dive into making your first crypto purchase.

How to Buy Crypto on Binance

Before you can buy crypto on Binance, you have to complete the identity verification process known as Know Your Customer (KYC). KYC helps us make sure you are who you claim to be and fulfill our legal requirements.
When you are done with the identity verification, you will be able to buy crypto through different methods.
1. Credit/debit card: the most straightforward option for new users.
2. Deposit funds into your Fiat and Spot wallet: Transfer fiat currency from your bank account and use it on the exchange.
3. Binance P2P: Purchase crypto directly from other users with Binance’s peer-to-peer service.

Purchasing Crypto With a Credit or Debit Card
1. Hover over [Buy Crypto] from the top menu and select [Buy & Sell].

2. Next, select the fiat currency you will be paying with and the coin you wish to purchase. Press the [Add New Card] button to proceed and add your card information.

4. Double check the order details. You can check the conversion rates and fees by clicking at the three dots […] button.

5. If you have read and agree to the Terms of Use and Privacy Policy, tick the checkbox. When ready, click [Confirm] to finish your payment.

6. Once the process is complete, your purchased crypto will be credited to your Binance Spot wallet. Usually, opening an account and getting to this stage can be done within 10 minutes.

Using the Binance Spot Trading Interface

1. Find the [Trade] menu at the top and click on [Spot].

 

2. Next, you will find the Binance Spot trading interface.

3. On the left side, you will see the order book:
Sell orders (asks) are in red.
Buy orders (bids) are in green.

4. At the center, you will find an interactive trading chart of the selected trading pair. In this example, BTC/USDT.

5. On the right side, there is a trading pair list, which contains all available trading pairs on Binance. Use the Search function to find specific trading pairs.

 

6. Below the trading chart is where you can create orders to buy and sell. If this is your first time, you will have to add funds to your Spot Wallet first.

7. For example, if you are using USDT to buy BTC, you need to first add USDT to your Spot Wallet. Click the [+] icon to fund your account and choose your preferred method.

 

How to buy BTC with USDT

1. To start, choose an order type. With a limit order you can set a specific price (not necessarily the current price). In contrast, a market order will try to execute your order as soon as possible at the current market price.

2. If you are using a limit order, define the amount and price and click [Buy BTC].

 

3. You should get a notification at the top right corner of your screen. You can track your open limit orders at the bottom of your trading interface.

4. If BTC reaches the order price you specified, your order will be filled.

 

How to sell BTC for USDT

The process of creating selling orders is almost the same. In this case, we will use a market order to illustrate how to sell your BTC for USDT.
1. Choose your order type, set the amount, and click [Sell BTC].

 

2. Because we are creating a market order, the selling order will be placed immediately, and if there is enough liquidity, it will be filled instantly at the best market price.

If you are still not sure about Spot trading or want more details on how to use the Binance Spot trading interface, please check out our Binance Spot Trading Guide.

Using Binance P2P on the Binance App

Alternatively, you can use the Binance peer-to-peer marketplace to buy and sell cryptocurrencies. Binance P2P is an industry-leading P2P platform that allows buyers and sellers to choose the best price, payment method, and trading partners, all secured by Binance's escrow service.
In this section, we will illustrate how to use Binance P2P via the Binance App. For more information and a detailed view of the Binance P2P on the Web version, please check What Is Binance P2P and How to Use It?

1. Open the Binance App on your mobile device and tap on the [Trade] button.

2. Select P2P Trading from the available options at the top right corner.

 

3. Select your preferred currency and payment method. This allows you to find the most convenient and cost-effective way to add funds to your account.

4. Follow the on-screen instructions to complete your transaction. Make sure to confirm the details and verify the counterparty before proceeding.
For more information about Binance P2P and a guide on how to use it, please check out our Binance P2P Guide.

How to Secure Your Binance Account

Using a strong password and our security features will help keep your funds safe. Make sure to start with the following security steps.
Use a strong password and change it regularly
This one is self-explanatory, but you would be choked with the number of people that still use passwords that are simple and easy to remember. Your password should always contain uppercase and lowercase characters mixed with symbols and letters. And of course, make sure you keep it safe and do not share it with anyone.
Enable Two-Factor Authentication (2FA)
We strongly recommend you set your account up with Two-factor Authentication (2FA). This creates an extra layer of security, meaning that even if hackers compromise your password, they would need access to your physical 2FA device to log in.
The Google Authenticator app or SMS authentication are great places to start. Our Binance 2FA Guide can explain more about the process.
Enable the Binance Anti-Phishing Code
When you add an anti-phishing code to your Binance account, every email you get from Binance will have this code displayed at the top. You can manually define what code it can be from a series of letters or numbers.
This way, you can be sure that the message you are receiving is actually from Binance and not from a fake email address. In other words, it helps you prevent phishing attacks.

 

For more information on account security, please check out Secure Your Binance Account in 7 Simple Steps.
Closing Thoughts
Opening an account and making your first trades with Binance is a small introduction to the world of cryptocurrencies. There’s a lot more to it than just buying and selling on the exchange. If you’ve never seen a trading view before, it can all look confusing at first. Binance Academy is full of trading articles and guides that can help you get started with trading tools and even create your own trading strategies.

Secure Your Binance Account in 7 Simple Steps

Introduction
Security is a top priority at Binance. While we do everything to keep your account secure, you also have the power to greatly increase the security of your Binance account. 
In this article, we describe a few simple steps that you can take to secure your account, along with general good habits that you should keep in mind. Just like you, it’s in our interest to keep your account safe. The blockchain industry is growing fast, so creating a more secure environment will benefit us all.
So what are the steps you can take to increase the security of your Binance account?

1. Use a strong password and change it regularly

This may sound quite obvious, but it’s an essential step for securing your Binance account. You should use strong and unique passwords for every one of your accounts on the Internet. This is especially true for those that hold value – like your cryptocurrency exchange account. Ideally, these passwords should be more than eight characters long, containing both uppercase and lowercase letters, numbers, and special characters.
One of the best ways to generate, manage, and store secure passwords are password managers. This way, you can hold and manage your different passwords in a secure and convenient way, all in the same place. Most password managers will employ sophisticated encryption mechanisms to provide an additional layer of protection. Be sure to only use trusted password manager software, and of course, create a strong master password.
Having a strong password is an excellent first step, but it doesn’t mean you’re set forever. It’s also good practice to change your passwords regularly, as attackers may have ways to obtain your passwords regardless. This is not only true for your Binance account, but also your email associated with your Binance account. 
While we’re at your email, here’s another point to consider – it’s beneficial to use different email addresses for different accounts. This way, you can mitigate some of the potentially detrimental effects of data breaches. Especially if you’re using an old email account, there’s a high chance that it has been part of a breach in the past. However, if you’re using dedicated email addresses for each service, there’s a smaller chance that a breach will affect multiple of your accounts. The website Have I Been Pwned is a great resource to check if any of your accounts were ever the victim of a data breach.
Please note that once you change the password of your Binance account, you won’t be able to withdraw funds in the following 24 hours. This is to prevent potential attackers from locking you out of your account while withdrawing your funds.

2. Enable Two-Factor Authentication (2FA)

Activating Two-Factor Authentication (2FA) should be among the first things you do after creating a Binance account. Binance supports two types of 2FA: SMS and Google Authentication. Out of these two, we recommend Google Authenticator. Just make sure to write down your reset key in case you need to transfer your 2FA codes to a new mobile phone.
While SMS authentication may be easier to use, it’s deemed less secure than Google Authenticator. SIM swapping is a real threat, and some high profile accounts have been a victim of this technique. In 2019, Twitter CEO Jack Dorsey was hacked with this method, leaving attackers free reign over his Twitter account with millions of followers.
These aren’t the only ways to secure your account with 2FA. We’ll shortly discuss another method called Universal 2nd Factor (U2F) authentication. It involves a secure hardware device that protects your account. And good news, Binance supports that too!

3. Check the list of devices authorized to access your account

You can check the devices that are authorized to access your Binance account in the Device Management tab. When using the Binance app, you can find this tab under the “Account” tab. 
If you see any devices you don’t recognize or don’t use anymore, remove them. Once you remove a device, it won’t be able to access your account again, unless you re-allow it through an email confirmation. As we’ve discussed earlier, this is why the security of your email account is also of paramount importance.
You can also check account activity, that is, what IP address was your account accessed from and when. If you see anything suspicious, immediately disable your account. This will suspend trading and withdrawals, delete all your API keys, and remove all devices that can access your account.

4. Manage your withdrawal addresses

Your Binance account has a security feature called Address Management. It allows you to limit the wallet addresses that you can withdraw funds to. If you turn this on, each newly added address will require an email confirmation to be added to the whitelist.
To reiterate, this is why keeping your email account secure is so critical! It’s the foundation of your online security.
Can’t decide what crypto wallet to withdraw your funds to? You could try out Trust Wallet, it’s an excellent choice if you’re looking for a secure software wallet for your mobile phone. You could also invest in a hardware wallet to keep your private keys offline.

5. Learn about phishing

Phishing is a type of attack where a malicious actor tries to pose as someone else (for example, a business) to obtain your personal information. It’s one of the most common attacks out there, and you should be wary of it.
As a general rule of thumb, it’s best to only visit Binance from a saved bookmark instead of typing the address each time. If you haven’t already, feel free to bookmark the link right now: https://www.binance.com. With this simple step, you can already avoid a good chunk of the fake Binance websites that aim to trick you into getting access to your account information.
The Anti-Phishing Code feature allows you to set a unique code to be included in all your Binance notification emails. By enabling the Anti-Phishing code, you’ll be able to tell if the notification emails you’re receiving from Binance are genuine. If you’d like to learn more about how to use it, check out our Anti-Phishing Code Guide.
Would you like to learn about other ways to avoid phishing? Check out What is Phishing?. 

6. Follow API security guidelines

The Binance API is an excellent way for more advanced traders to maximize their experience with the Binance trading engine. The Binance API allows you to create custom trading strategies. 
However, using API keys brings some risks because you’re allowing your data to be shared with external applications. When you’re using the Binance API, you should consider restricting access based on IP address. This way, only the whitelisted IP addresses will be enabled. You should also consider changing your API keys regularly, and avoid giving your keys to external parties.

7. Use Universal 2nd Factor (U2F) Authentication

Binance supports U2F-compatible authenticators, such as the Yubico YubiKey. These devices will grant you access to your account only if they’re plugged in to your computer or paired wirelessly.
You could think of this device as similar to your Google Authenticator, but instead of a piece of software, it’s a piece of hardware. This means that accessing your account requires physical access to this hardware as well.
Closing Thoughts
Keeping your Binance account secure is an important consideration. We went through some of the simple steps you can take to protect your account and keep hackers from accessing your precious bitcoins and altcoins.
If you’d like to check your current security level, go to your Security dashboard. If you’re using the Binance app, go to the “Security” section of your “Account” tab.
If you’d like to learn more, check out our other articles on security-related topics!

Your Guide to Binance Launchpad and Launchpool

Key Takeaways
Binance Launchpad and Launchpool offer users diverse opportunities in the crypto space, from early access to innovative projects to earning rewards.
The Binance token launch platform provides a secure environment for both projects and users interested in joining crypto crowdfunding events.
The platform’s holistic support includes initial token issuance as well as guidance from Binance’s listing and investment teams.

Introduction

Binance Launchpad and Binance Launchpool are both part of Binance’s token launch platform. These platforms are designed to foster innovation by providing support to aspiring and existing blockchain projects.

Binance is constantly looking for strong crypto teams with a unique and innovative vision. Its token launch platform offers a full range of offerings, from advisory services during token issuance and launch to post-listing and post-launch marketing.

In this guide, we will cover what Binance Launchpad and Launchpool are, their differences, potential benefits, and how you can get involved as a user or project team.

Binance Launchpad: Pioneering Crypto Crowdfunding

Before Binance Launchpad, it was common for blockchain projects to raise funds and launch their tokens via independent crowdfunding events, known as Initial Coin Offerings (ICOs). However, this old school crowdfunding approach was often marked with technical failures, fraud, and a serious lack of user protection.

In 2019, Binance Launchpad was created, pioneering the concept of Initial Exchange Offering (IEO). The introduction of IEOs on Binance Launchpad caused an important paradigm shift in the crypto crowdfunding space, benefiting both blockchain projects and their supporters. Since then, projects have been able to raise funds, and users can support these projects in a safer and more convenient way.

The Differences Between Binance Launchpad and Binance Launchpool

Binance Launchpad and Binance Launchpool have similar goals and are part of the same Binance token launch platform. However, there are important differences between the two.

Binance Launchpad was created in 2019 to introduce a new method for crypto crowdfunding. Binance Launchpool was introduced in 2020, allowing users to lock their assets to get new assets in return.

What Is Binance Launchpad?

As we’ve learned, Binance Launchpad is the pioneering platform for Initial Exchange Offerings (IEOs). Launchpad allows users to purchase new tokens as part of an IEO. It has revolutionized crypto crowdfunding by providing a secure and efficient means for transformative blockchain projects to raise capital.

Binance Launchpad prioritizes user and project protection, offering top-notch security during token sales and eliminating the need for projects to create their fundraising platforms, reducing susceptibility to attacks. It facilitates growth for deserving projects by providing exposure to millions of global users, ensuring world-class liquidity and multiple trading pairs post-launch.

In addition, the platform's holistic support includes initial token issuance as well as guidance from Binance's listing and investment teams, which carefully evaluate Launchpad applications. With Launchpad, crypto projects benefit from token launches within a trusted platform, leveraging Binance's status as the world's leading exchange to access a vast community of crypto holders and investors.

Binance Launchpad benefits

• Early access to innovative projects

• Safe token launch environment

• Global exposure

• Fair token distribution

• World-class market liquidity

• Professional guidance and support

What Is Binance Launchpool?

Binance Launchpool enables crypto holders to lock their assets to earn new tokens. Unlike Binance Launchpad, which primarily involves token purchases, Launchpool allows users to receive new project assets by locking BNB and other supported tokens at no cost.

There are multiple benefits to participating in Binance Launchpool. First, the process of earning new tokens is very simple: you lock tokens with Binance and get rewarded with new tokens. The rewards are proportional to your subscription amount and the Launchpool period.

Binance Launchpool offers flexibility in earning tokens, allowing users to receive accrued rewards at any time and to unlock funds at their discretion. Also, the platform extends Binance's support to projects featured on Launchpool, offering advisory services, community engagement, and marketing reach. 

Binance Launchpool benefits

• Earn from locking assets. No purchase is required.

• Flexibility and control.

• Early access to innovative projects.

• Safe token launch environment.

• Global exposure.

• Fair token distribution.

• World-class market liquidity.

• Professional guidance and support.

How to Access Binance Launchpad and Launchpool

1. Log in to your Binance account and find [Launchpad & Launchpool] at the top menu.

2. Next, you will see Binance’s Token Launch Platform page. The first section will show upcoming or active token sales (if any).

 

3. If you scroll down further, you will see the Launchpad section.

 

4. You can click [View More] to see all previously launched projects and their respective data. This will take you to a separate landing page. 

You can switch from one section to another using the navigation buttons at the top.

 

How to Use Binance Launchpad

Binance Launchpad uses a subscription format. This means users have to commit a certain amount of BNB to the crowdfunding event (token sale). To join a Binance Launchpad token sale as an early supporter of the project, you have to hold some BNB in your Binance wallet and subscribe to the token sale during the subscription period.

Below is an example of a Launchpad token sale. The subscription period is closed, and the token sale is finished, but we can use the information as a reference. Notice that the token sale lasts a few days, from the BNB Holding Calculation Period to the Final Token Distribution.

This page also includes the project’s website, whitepaper, research report, detailed information about the sale rules, and an FAQ.

 

How to Use Binance Launchpool
Binance Launchpool allows users to acquire new token rewards by locking their existing cryptocurrency holdings. The locking is usually done in BNB or a stablecoin like FDUSD.
To participate, head to the Binance Launchpool page and find a project you want to support that is currently open for farming.

 

The total rewards, farming period, supported tokens, and APY estimate will vary from project to project. After locking your assets, you will start earning the project tokens. When the farming period is over, your locked assets and all earned rewards will be sent automatically to your Binance Spot account.

 

Closing Thoughts

Binance Launchpad and Launchpool are powerful tools for crypto enthusiasts, offering access to new projects, exclusive token launches, and opportunities to earn rewards. As Binance continues to innovate, users can navigate the crypto landscape confidently, leveraging these token launch platforms for growth and engagement.

How to withdraw crypto on the Binance app?

1. Log in to your Binance app and tap [Wallets] - [Spot] - [Withdraw].

2. Choose the cryptocurrency you want to withdraw, for example, BNB. Then, tap [Send via Crypto Network].

3. Paste the address you want to withdraw to and select the network.

Please choose the network carefully and make sure that the selected network is the same as the network of the platform you are withdrawing funds to. If you select the wrong network, your funds might be lost and couldn’t be recovered.

How to choose a network?
Some of the common networks include:
BEP2: BNB Beacon Chain;
BEP20: BNB Smart Chain (BSC);
ERC20: Ethereum network;
TRC20: TRON network;
EOS: Enterprise Operation System network;
BTC: Bitcoin network;
BTC (SegWit): Native Segwit (bech32). Its address starts with “bc1”. For more details, please refer to What Is Segregated Witness (SegWit)?.
For certain networks, such as BEP2 or EOS, you must fill in the Memo when making a transfer, or your address cannot be detected.
The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal. If the external platform only supports ERC20, you must select the ERC20 deposit network.
DO NOT select the cheapest fee option. Select the one that is compatible with the external platform. For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you will lose your funds.
You should also confirm that the receiving platform supports the contract address of the token you’re withdrawing, or your assets might be lost and cannot be recovered. You can check the list of supported contract addresses from the respective platform.
4. Enter the withdrawal amount and you will see the corresponding transaction fee and the final amount you will receive. You can also select which wallet to withdraw from under [Send From]. Tap [Withdraw] to proceed.

 

5. You'll be prompted to confirm the transaction again. Please check the withdrawal address and network carefully before tapping [Confirm].

If you enter the wrong information or select the wrong network when making a transfer, your assets will be permanently lost. Please make sure the information is correct before you confirm the transaction.

 

 

 

6. Verify the transaction with your passkey or 2FA devices. After confirming the withdrawal request, please wait patiently for the transfer to be processed.

What Is KYC (Know Your Customer)?

Know Your Customer (KYC) checks require financial service providers to identify and verify their customers. This is done as part of their Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) compliance efforts to combat financial crime and ensure customer due diligence.

KYC proactively combats criminal activity by collecting and verifying customer information. These checks improve trust in the industry and help financial service providers manage their risks. KYC has become commonplace with cryptocurrency exchanges. However, some critics say that it takes away the anonymity and decentralization aspects crypto is famous for.

Introduction

KYC is a common regulatory requirement that financial service providers are obliged to fulfill. These checks primarily combat the funding and laundering of money from illicit activities. KYC is a key measure in anti-money laundering regulations, making it an important safety guard for cryptocurrencies especially. Financial institutions and service providers like Binance are increasingly having to implement robust KYC procedures to safeguard customers and their assets.

What is KYC?
If you’ve opened an account with a cryptocurrency exchange, it’s likely you’ll have had to complete a KYC check. KYC requires financial service providers to collect information verifying their customers’ identities. This could be through official identification or bank statements, for example. Like AML regulations, KYC policies help combat money laundering, terrorism financing, fraud, and the illicit transfer of funds.
KYC typically is a proactive approach rather than reactive. Most financial service providers take a customer’s details in the onboarding process before they can make financial transactions. In some cases, accounts can be made without KYC but are limited in their function. Binance, for example, allows users to open an account but restricts trading until KYC is completed.
When completing KYC, you may be asked to provide your:
Government ID
Driving license
Passport
Apart from verifying a customer’s identity, it’s also important to confirm their location and address. Your identity documents will provide basic information like your name and date of birth, but more is needed to establish your tax residence, for example. You will likely need to complete more than one stage of KYC. Financial service providers often need to re-verify the identity of their customers at regular intervals too.
Who regulates KYC compliance?
KYC regulations differ by country, but there is international cooperation on the basic information needed. In the US, the Bank Secrecy Act and the 2001 Patriot Act established most of the AML and KYC processes seen today. The EU and Asia-Pacific countries have developed their own regulations, but there’s a lot of overlap with the US. The EU Anti-Money Laundering Directive (AMLD) and PSD2 regulations provide the main framework for EU countries. At a global level, the Financial Action Task Force (FATF) coordinates multinational cooperation on regulatory conditions.
Why do we need KYC in crypto?
Due to cryptocurrency’s pseudonymous nature, it’s often used for the laundering of illicit funds and tax evasion. Improving the regulation of cryptocurrency betters its reputation and makes sure that taxes are paid where they are due. There are three key reasons why KYC checks are needed in the cryptocurrency industry:
1. Blockchain transactions are irreversible. There is no admin to help if you make a mistake, meaning that funds can be stolen or moved and not be retrieved.
2. Cryptocurrency is fairly anonymous (pseudonymous). You don’t need to submit any personal details to open a crypto wallet.
3. Regulation is still uncertain when it comes to taxes and the legality of crypto in many countries.
Although KYC increases the time needed to set up an account, it has clear benefits. The average customer won’t necessarily be able to see them, but KYC has a significant impact on keeping your funds safe and combating crime.
What are the benefits of KYC?
The benefits of KYC aren’t all obvious. However, it does much more than just combat fraud and can improve the financial system as a whole:
1. Lenders can more easily assess their risk by establishing a customer’s identity and financial history. This process leads to more responsible lending and risk management.
2. It combats identity theft and other types of financial fraud.
3. It reduces the risk of money laundering from occurring in the first place as a proactive measure.
4. It improves the trust, security, and accountability of financial service providers. This reputation has a knock-on effect on the financial industry as a whole and can encourage investment.
KYC and decentralization
Cryptocurrencies have, from their beginning, focused on decentralization and freedom from intermediaries. As mentioned, anyone can make a wallet and hold crypto without needing to provide details about themselves. However, for these exact reasons, crypto has become a popular method for laundering money.
Governments and regulators typically require exchanges to complete KYC checks on their customers. While mandatory KYC is very difficult to implement for crypto wallets, services that exchange fiat into crypto are more suitable. Some investors are speculatively interested in cryptocurrencies, and others more actively appreciate their core values and utility.
Arguments against KYC
KYC has its obvious benefits, but it’s still controversial for some critics. Arguments against KYC are more common in the cryptocurrency world due to its history and background. Typically, most of its criticism comes from issues with privacy and cost:
1. There’s an extra cost associated with performing KYC checks which are often passed on to the customer through fees.
2. Some individuals do not have the documentation required for KYC checks, or perhaps do not have a fixed address. This makes it difficult for them to access certain financial services.
3. Irresponsible financial service providers may lack data security, and hacks can lead to your private data being stolen.
4. Some argue that it goes against the decentralization of cryptocurrencies.