chainlink appsTutorial: Ho to Buy Chainlink Link on Binance

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build us today and i want to show you guys today how you can buy chain link or link how its called um the best way to check where you can buy a cryptocurrency is to go on and there you can type into the search the cryptocurrency that you are looking for for example chain link and then a window opens that looks like that and you can basically see a price chart and you can click here on market pairs and then you can see where its actually traded and for link the most popular exchange to trade it on is binance and so it has the highest liquidity for example and in the last 24 hours um link worth more than 100 700 million was traded on binance just against usdt alone and then another 46 million against btc so its way more than on coinbase for example or any other exchange here and the biggest advantage is basically that you can easily with a high liquidity you can leave a position and open the position very easily without adjusting the price too much so you get actually the best price if you trade on a high liquid market and so if you want to trade it now and you need a balance account and if you dont have a binance account i put a link down in the description that you can use and with that link you will actually save 10 on fees and if you use bnb the binance coin to pay your fees you will save another 25 so you can save up to 35 on fees and if you use that link and the good thing with binance is you dont really need to verify yourself so you can just open a binance account with your email address and a password then you need to verify your email address but you dont need to verify your um personal information you only need to do that if you want to deposit fiat currencies like euros for example so once you have a binance account you can actually start by depositing and cryptocurrencies or fiat currencies into your binance account and so you can just click here bank or credit card so here on fiat you could for example do a bank transfer and wire money to binance or you can also deposit money via visa or mastercard but you have to keep in mind that i will move that to the side that its way more expensive to use your master or visa card and it costs at least three percent on fees a wire transfer is currently free of charge however you need to be verified to do that another way to do that where you dont need to be verified is if you just um send bitcoins or any other currency to your binance account you can just do that if you choose the currency here and then they show you an address where you can send it to and once you send it and you can find the currency into in your binance wallet so its basically very easy to do and also very fast depending on the network so once you have currencies in your account you can actually start trading there and if you want to buy link and you can do that here so it really depends now what currency you have in your account so for example if you would have um bnb in your account you have to look if you can trade link against it and you cant so you actually need to have um bitcoin in order to do that if you have any other currency you need to trade them against bitcoin so you have to know or you have to keep in mind that you basically can trade all currencies against bitcoin or binance so sometimes um you have to do two trades in order to buy the currency you want depending whats your what your starting currency is okay once we have that market here its a spot market and we could also trade futures that would be a contract but we wouldnt buy real um chain link but we would buy a contract and we could do that with high leverage however if you just start out its easiest to start with trading spot markets then you can just click on trade here and then a window opens where you can actually see the other book with the sell orders and then green all the buy orders here you can see the price chart one candle is one hour you could also change that to two hours for example or 30 minutes or whatever you prefer then you can see here the latest traits and then you can see here um basically the area where you can enter your position that you want to open more that you want to close so first of all its best to open a spot position and cross and isolated would be a marching trade so you need to work borrow some money in order to do that and if you just start out its way more complicated and you pay a hourly fee for that um so if you just want to hold it in order to profit from the price going up its easier to trade spot and there you could do a market order or a limit order and the market order is basically an order that gets executed immediately so for example if i write 10 link click on buy link you can see the order was executed immediately on buy and you can sell see here i have 10 link now you could also and sell them easily yeah again for market order and its gone and limit orders a bit different you can um enter a price where you want to enter a trade so for example if the price of link drops to seventy thousand satoshi so zero point zero zero zero seven and btc you can click pylink and you would see here under open orders and my position would be opened would be only executed if the price drops to that price however you can also cancel it anytime and now its gone and you could also do that and with a sell order if you want to sell link and you can say okay if the price goes up to 80 000 satoshi for example you want to sell your link so thats basically how you buy link on binance if you have any questions about that feel free to use the comments down below and if you dont have a binance account feel free to use the link to save on fees that you are paying on binance and if you like the video i would um would be very happy with the thumbs up and if you subscribe to my channel thanks for watching guys Binance save 10%: In this video I am going to show you ho you can buy Chainlink Link on Binance. 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