There are a lot of cryptocurrency exchanges out there to choose from. Binance is one of the leading names in the market, having been launched in 2017. Having a trustworthy exchange is just part of the necessary process of buying, selling, and trading among the most popular cryptocurrencies on the market.
Some investors like to know when a cryptocurrency they are following has a price change. To do this, you need to know how to set a price alert on the Binance app. Let’s learn more about Binance and how to set those alerts so that you can keep track of your favorite cryptocurrencies.
What is Binance?
Binance is a cryptocurrency exchange. Founded in Hong Kong in 2017, it has a huge array of altcoin trading options. Binance currently offers crypto-to-crypto trading for upwards of 600 different virtual tokens and cryptocurrency options. That list includes Bitcoin (BTC), Litecoin (LTC), Ether (ETH), Dogecoin (DOGE), and even its own Binance Coin token (BNB).
Binance supports most of the commonly traded cryptocurrency options on the market, even providing a wallet for traders to use to store all of their electronic funds. The exchange offers supporting services for users to transact or earn interest while using cryptocurrencies. There are even programs that help miners and traders make the best possible investment decisions.
How to Set Price Alerts on Binance?
Getting price alerts can be a great way to stay on top of the market. You can make changes that allow you to be notified when there is a certain condition or price that is being met. Users can also set a price alert if there are any changes in that price.
It is important to note that any price function alert will only be available through the Binance Pro option. Make sure that you switch over to Binance pro, tap on your profile, and then make the switch to Binance Pro there.
If you need to know how to set a price alert on the Binance app, the process is relatively simple. Open up the app and tap on the markets tab. Look for the trading pair that you want using the search bar, and it should pop up below.
When you have pulled up a particular cryptocurrency, there should be a little button in the bottom left corner of the screen that says “alert.” Tap it, and you will be presented with an alert type. This includes “price rises above,” “price drops to,” “change is over,” “change is under,” “24H change is over,” and “24H change is down.”
You can then enter the price that you want to receive the alert for and select one of the aforementioned alert frequencies. All that is left is to tap the “create alert” button, and you should be good to go, ready to receive alerts.
Whenever the conditions have been met, you should receive an alert. You can also create other alters by tapping “add alert” and following the instructions laid out above. Just make sure that your phone is set up so that you can receive alerts from Binance; otherwise, the alerts may not get pushed to your phone where you can see them.
Binance Coin (BNB)
The Binance Coin is the token created by the platform itself. The Binance coin is meant to facilitate crypto trading within the Binance exchange. When the platform launched in July of 2017, the coin was offered during the initial coin offering (ICO).
At the time of the ICO, Binance offered 80 million tokens to the founding team, 20 million tokens to angel investors, and the remaining 100 million tokens to a variety of participants all throughout the ICO process.
It is important to note that nearly half of all the funds raised during the ICO process were meant to be used for marketing and branding of Binance. Another one-third was used to build the platform itself and then perform any upgrades that may be deemed necessary to the exchange’s ecosystem.
Binance’s Other Services
It doesn’t stop there in terms of the services offered by Binance. In addition to the specific services of the exchange, there are a number of platforms, services, and tools offered by the exchange.
They offer Binance Earn, which is used for earning or staking interest. This is done by depositing stablecoins within the exchange. The exchange can offer multiple options to investors in terms of interest rates depending on the coin itself and that coin’s tenure.
There is also the Binance Visa Card. This gives users the ability to convert their cryptocurrency into what is known as fiat currency. They are then able to spend that on products and services that may not take cryptocurrency as a form of payment directly. There are fees to apply, so be aware of them before using the card.
The smart pool is a cool feature that allows miners to effortlessly switch between a variety of different cryptocurrencies, allowing them to optimize their mining opportunities and even multiply income.
That is just the tip of the iceberg as to the different options and services offered by Binance. Users can get started easily and begin their cryptocurrency journey.
Many investors utilize Binance to do their cryptocurrency buying, selling, and trading. It helps to know how to do the basics but being able to set alerts can be an invaluable way to keep up on your favorite cryptocurrencies without missing a beat.
Setting alerts is a simple process and you can set as many alerts as you desire. There is no need to have the Binance app open all of the time to monitor the market, not when you have the appropriate alerts in place to track all of that for you.