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Accepting cryptocurrency for your online business with Binance

 

Technically Sophisticated Peer-2-Peer Networks

Cryptocurrency, the most technically sophisticated currency ecosystem in the 21. century
is leading news, markets and social media. With today's technology, it is possible to
receive payments instantly and anonymous. Currently, there are more Alt-Coins available
that not try to copy the Bitcoin but also enhance the idea of Bitcoins with many great
new features.


Crypto Currency Exchanges

Trading bitcoins is not that hard anymore. Regulators and laws make it a bit more complicated
but for low-value traders are much easier. Receiving online payments via cryptocurrency is a
great way to bring your revenue forward to the next level!

There are many exchanges out there where you can sell, buy, receive and send cryptocurrency
instantly. This day I'll introduce you to Binance. Finance is an online trading platform
that not only allows you to trade your currency on a website but also with a sophisticated
and fast app available for Android nad IOS devices.


Performance Issues

Many exchanges faced performance issues. On of that kind was Kraken. Before Kraken made their
infrastructure upgrade they faced performance issues daily. Kraken was offline often and
the trading-engine was too slow to handle the explosive fast growth of new clients that want
to get into it.

Fast performance and ease of use is important for exchanges. You have to act fast on sudden
market changes and news. Therefore you need a fast and easy to use trading interface which
Binance with his App and web-interface is just perfect for that!


Account verification

Another problem exchanges are facing is account verification. To conform law and regulations
many exchanges want you to confirm your account with documents. That is really great but if
you want to start trading bitcoins fast then you do not want to wait one month to get your
account verified, right? Binance allows you to trade 2 Bitcoins (which is currently about
20 000 USD) without account verification. This is great and allows you to deposit money
instantly without waiting!


Security

Security is the most important aspect in crypto currency. Getting your computer hacked is
a problem. Securing your trading account is, therefore, the most important thing you can do
when trading cryptocurrency! Here are the most important tips for securing your trading
account from an experienced crypto-trader:

  • Get a new e-mail address
    Don't use Gmail, Yahoo! Use Anonymous email providers! For example Tutanota or
    Protonmail. All emails are encrypted with secure algorithms and cannot read
    by anyone except you! Beware of losing your password for those providers. If you
    loose it, you might have a problem!
  • Use a strong password
    Use a password with at least 32 words of length when signing up. Also, use special characters like
    §§$%&/()=?``´´^^+#. This will make it almost impossible to brute force your
    account password!
  • Change your password frequently
    Changing password frequently (weekly or monthly) is usually for many companies. For
    example, Google sends weekly reminders to their employees, that they have to change
    their passwords!
  • Use 2FA (2 Factor Authentication)
    Install Google Authenticator on your mobile device and enable 2FA on Binance. Using
    this your account will be more secure because you need access to your phone in order
    to log in. Hackers will hardly ever get access to your phone + password and email!

Summing up those steps: Do all you can to secure your account!

When exchanges are not secure, like MTGox was, which lost Millions of Bitcoins due to a hacking
attack, then you should also leave the platform. You have to trust your exchange!


Withdrawal speed

When you want to withdraw your money to your bank account, speed is great! Get your money on
the same day of requesting the withdrawal with the Binance Trading Platform!

 

If you have any additional questions or suggestions, the feel free to ask them in comments! I would
be happy to answer them =)

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