How's it going everyone?
It's Austin with the Crypto Playhouse here and today we're going to be taking a look
at the Binance crypto currency trading platform and their newly released desktop client which
addresses a lot of the issues that I had with the web client.
So let's get in take a look and get trading some alt coins.
[opening music]
OK, So for the longest time I was just an absolute die hard Bittrex trader, but I saw
from a lot of other people in the crypto space are now moving over to the Binance platform
because they offer some of the newer alt coins that you can't find over on Bittrex, personally
I hold a little bit of Po.et some Tron and these things just aren't even offered on Bittrex.
So I moved over to Binance and I did have some gripes with the way that the web interface
was set up.
I didn't think it was the most intuitive, the charting tools weren't even there.
But at this point Binance has released a desktop client, and I think it really addresses a
lot of the problems that I originally had with using the web interface.
So today we're going to take a look at the desktop client, all links are down below for
getting that started, it's very simple, if you just follow the link it will take you
to the page.
If you don't have an account yet, you literally just need an email, create a password and
your good to go.
Once you have that, you're just gonna download the desktop client and once again, it's a
one, two click type deal, you don't have to give it any directories or anything, just
next, next, finish.
And you're ready to log in and get trading on the Binance desktop client.
Alright, so once you got the Binance desktop client installed, it's very simple just double
click it, start it up and you'll be greeted here by the market watch.
Now this has all the different cryptos that are being traded on the Binace platform.
We've got the Bitcoin markets are where I'm going to be trading in, they are slowly building
up some Binance token markets, it's not quite where I would be consistently using it yet,
but it is something they're working on, and of course we've got the Ethereum and the USD
Tether markets.
Today we'll just be looking at Bitcoin, it is what I use as my baseline currency or trading.
Now if we go over here to exchange, it starts out with their baseline chart which I think
is absolutely terrible, I've no idea who would trade on a time chart?
Just me personally, but that's my opinion.
So one of the first things I noticed with the desktop client is right here you have
the compare tab and the beautiful thing about using this compare feature is I can actually
come in here and I can look for my different cryptos that I'm either actively trading or
watching and looking for a trade.
So I'll add in a few here, and as you can see just click on the empty space, search
for your coin and once it's there just click on it and you can watch multiple, so I'll
change this over to my five minute candles and as you can see here, we've actually got
a nice little layout were I can sit here and I can watch four different cryptos at the
same time, which I really would like to see expanded to eight, twelve, sixteen, but you
know the crypto space is new.
Everything is kinda up and coming, hopefully Binance works on that, but for the moment
it's still a step up from anything else we've had on the table yet.
So as you can see here with our four cryptos that we're watching, if you click on those,
it will actually show you the order book and the trade history right here on your watch
page and you can come down here and make your limit, market and stop orders while watching
all four of those cryptos, or on the direct chart.
Now for the direct chart and just looking at single crypto all you do is click on the
one you want to watch, we're going to come over to candle sticks and set it to my usual
five minutes and as you can see here, we've actually got full size chart, much easier
to read.
It's I think more intuitive than their web interface and it does have a lot more options
for the different indicators and methods of analyzing your charts, so personally I use
the stochastic RSI, of course my MACD, the one unfortunate thing I will say is when you
come in you're actually going to have to set up your indicator values each time which I'm
not a huge fan of but the desktop client is relatively new so it's not that big of an
issue.
But having these tools and being able to add in you know multiple indicators on the main
chart having your stochastic RSI, having a commodity channel index is a huge step up
from the web interface and really that was my one thing holding me back from completely
converting over to Binance, but now that I've gotten on the desktop client, I've seen how
much better the tools over there are.
I really think that my migration to Binance platform from Bittrex is pretty much complete
at this point, I see no reason to stay with an exchange that is going to charge me higher
fees and not offer the newest coins, so I really think Binance is the way to go these
days.
Alright, so even if you're looking at all four of your charts here, as I mentioned before.
You can actually make your orders directly from the four chart analyzer which sometime
you need to make a quick move is really useful because you might want to keep an eye on the
others while you're still holding your positions on a certain currency.
So one of the things that I like for this, I don't usually tend to use it on order entry,
but where I will do is come in, I'll make my main purchase and then as things start
to move, if I want to get rid of my position kind of in sections, I love that Binance has
these options here for 25, 50, 75, and 100%.
Because as things start to move, I can cover most of my position early, if I feel like
it might be a little bit risky of a trade and then as things continue to kinda level
off, I can get rid of the rest of my position but it gives you a little bit of a safety
net and it's much easier than having to enter in the number of shares you're getting rid
of, having to calculate that in your head, it's really just a one two click and it makes
things very simple.
Now Binance did release the desktop client, but they also have a mobile app for the Binance
platform on the Android App Store, and that one is ready to go, it's all packaged and
done, there is an option for IOS, but it's still in Beta so if you want to install that,
you're going to have to allow installations from third party platforms and that should
get you set up.
You can use it, but as right now it is definitely not as polished as the Android version.
We've got links for both of those down in the description below, so hope you guys liked
this video and definitely check out Binance.
I really think it's where the crypto currency trading platforms are going to start gravitating
towards in the future.
I really think they're going to e the shining example of what an exchange should be.