Watch this video https://youtu.be/zhbuMcxliyw
Well in this post, I’m going to show you how to Binance Deposit and Withdraw from and to your margin wallet on the Binance exchange.
Now. I’m going to go over the series assuming that you know the basics of margin trading. And for those of you who do not know how to open your margin account on the Binance exchange, I will share another post.
Now once again this is assuming that you at least know the bare-bones basics of margin trading.
Binance Margin Trading Guide
So let’s get on with it. Now, as soon as you log on to your Binance account you’re going to be presented with your dashboard.
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The Exchange & Margin Wallet
The exchange wallet is one wallet. And the margin wallet is another wallet. There are two different wallets and they’re independent of each other. Now, if you go onto the exchange wallet which is your main wallet, everything in this wallet is what is yours.
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Binance Deposit and Withdraw
So what is the next action that we want to perform? We want to deposit some margin into our margin wallet.
You first essentially have to put it into your main wallet, your exchange wallet what is in this wallet is everything that’s yours. And the way you do that is well going on to your exchange wallet and say you want to deposit a bit of BTC.
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No. These are all manual actions that you will have to perform if you want to send it in as margin. Then after getting your bitcoin on this address which is your main wallet you then have to go into your margin wallet and transfer what you received on your exchange wallet to your margin wallet.
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Transfer Money on Binance
So the three actions that I can perform on my margin wallet is transfer, borrow slash repay and trade.
I want to transfer. So the only thing that is presented to me over here is from the exchange wallet to the Margin wallet and vice versa.
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So for the sake of this example, I want to do it from the exchange wallet to the margin wallet. That’s the only option I have. So I have bitcoin in my exchange wallet so I have bitcoin selected.
This is a drop-down menu so if you hit the drop-down menu you’ll be presented with well a series of cryptocurrencies that Binance does the exchange as margin. If you want to put up another cryptocurrency as collateral you are able to do so.
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But as long as it’s within this list as long as it’s within this list. So I have bitcoin I want to put a bit of Bitcoin and I’m going to go ahead and say I’ll put another 0.001 loops.
Confirm transfer & remember from exchange wallet to margin wallet. This is the only way I can deposit.
Now, if you notice as soon as I did that my balance has gone from 0.001 to 0.002 And that is essentially how you deposit funds into the Binance exchange.
BINANCE MARGIN TRADING: THE BEST GUIDE TO BINANCE DEPOSIT AND WITHDRAW
https://www.binancewiki.io/binance-d...-and-withdraw/
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