What is Binance?
Binance Watchlist; Binance Holding LTD is the centralized cryptocurrency exchange known by the brand name “Binance.” Mr. Changpeng Zhao founded it in 2017, initially establishing his company’s headquarters in China. But Mr. CZ moved his company’s operation from China to Japan after the cryptocurrency regulatory issues originated. According to CoinMarketCap, it is the biggest exchange in the world, with a rating of 9.9 (Score calculated by merging these factors: Average Liquidity, Volume, Weekly Visitors, etc.) and it has listed 382 cryptocurrencies and 1690 exchanges and receives 14,082,023 weekly visitors.
Binance is the most reliable and secures centralized cryptocurrency exchange. It has a user-friendly interface and trading features such as spot trading, options trading, margin trading, and futures trading. Binance offers a wide range of cryptocurrency pairs like BTC/USDT, ADA/BTC, DOT/USDT, ETH/USDT, and many more that allow users to buy, sell, and trade. Additionally, Binance offers its cryptocurrency, known as Binance Coin (BNB), which clients can use to pay trading commissions at a discounted rate, and investors also use BNB for investment.
What is a Binance Watchlist or Favorite?
On Binance, the term for keeping track of your assets is “favorite”; Watchlist and favorite are the same terms. This feature allows you to list and monitor your preferred cryptocurrency. You can use your Watchlist to analyze related news, price changes, and other relevant market information. There are thousands of cryptocurrencies, and users are not able to keep track of them all. Investors and traders want to monitor specific coins and tokens they are interested in. Users can quickly decide by regularly monitoring their watchlists and analyzing news and other market sentiment data.
Setting Up a Watchlist or Favorite
To set up a watchlist or favorite, please follow these steps:
- Creating an Account on Binance
- Adding Assets to Your Watchlist
- Remove Assets from your Watchlist or Favourite
Creating an Account on Binance:
- Click Binance’s official website, the link to the website is www.binance.com, and you will get the homepage.
- You will find the tab “Register with Email or Phone” or continue with “Google / Apple” under the main menu bar on the left side of the page.
- You can choose your registration option and create a strong password, (Example: Yshui5565%), and if you have a referral ID, then put it; otherwise, leave it.
- Click the “Create personal account” tab to Agree with the Terms of Service and Privacy Policy.
- Check your mail for the verification link and click on it; your account will be verified.
Get Verified: (KYC) Know Your Customer or Know Your Client
Now, complete your KYC (Know Your Customer), which is very important; without KYC, you cannot do transactions; you can find the tab “Get Verified” in your profile setting. Before starting KYC, you should keep an ID Card, paper, and a pen to yourself because you have to complete your KYC within seven minutes. Complete the following steps respectively.
- Select your Country
- Your Name (First, Middle, and Last Name)
- Date of Birth (Year, Month, Day)
- Write your complete address with the city postal code
- Upload the image of your ID on both sides
- Take your picture with a live camera for facial recognition along with ID and handwritten name on paper
Adding Assets to Your Watchlist
- You will find the “Markets” tab in the main menu bar in the second position by clicking on the homepage.
- By clicking on the Market icon a little further down the page, you will find the” Favorites” tab and search bar.
- Search for your favorite coins or tokens that you wish to add to your Watchlist.
- Once you get your desired cryptocurrency, click the star icon before the cryptocurrency name. After clicking the star icon, it will be added and turn yellow.
- You can repeat this process as per your requirement regarding adding cryptocurrencies.
Remove Assets from your Watchlist or Favorites
- Click on the Market tab to get your Watchlist or favorites; after that, you will find all your favorite cryptocurrencies.
- Click on the star icon again, and it will be removed from your Watchlist.
- The process will be the same if you want to deselect more coins.
Benefits of Using a Binance Watchlist
The essential benefits of using a Binance watchlist or favorite are as follows.
1. Easily Track Prices and Volumes with Graphs and Charts
2. Monitor Multiple Crypto Assets at Once
3. Get Notified of Changes in Price or Volume
4. Record Trading Histories and Patterns
Easily Track Prices and Volumes with Graphs and Charts
Users can track the price movements available in different time slots, such as one hour, four hours, and twenty-four hours and the trading volume of their favorite coins and tokens. Binance’s Watchlist provides the facility to traders and investors to track the market capitalization of the cryptocurrency and their charts and graphs regarding the price movements. Users can rapidly identify market trends and sentiments by tracking these indicators.
Monitor Multiple Crypto Assets at Once
Users can simultaneously monitor multiple coins and tokens using Binance’s watchlists and can significantly observe their favorite cryptos to make quick trading decisions. Searching for one cryptocurrency among thousands is challenging to analyze, potentially wasting time. So, users prefer some particular cryptos and put all chosen cryptos on the Watchlist, which is identically comfortable to track.
Get Notified of Changes in Price or Volume
Binance provides the facility of notifications for price movements or any other significant related news of your watchlist cryptocurrencies. Users can use this facility for more profitable trading decisions and avoid losses. Traders and investors can receive SMS, Email, and push notifications on the Binance app.
Record Trading Histories and Patterns
Traders and Investors can track the record trading histories and patterns by the “Favorites” feature of Binance. Expert crypto users take a deep dive to research significant crypto and wish to track the price movement, which was contrary to expectations. The trading decision will be straightforward when users successfully understand the history, significant price changes, and historical patterns.
How to effectively use the Binance Watchlist Tool
There are two essential tools for using the Binance watchlist for comprehensive explanations.
1. Analyzing the Market with Real-Time Data Updates
2. Monitoring Trading Volume & Prices in Real Time
Analyzing the Market with Real-Time Data Updates
Real-time data is very crucial for short-term traders. Utilizing the Binance watchlist tool, users should analyze the real-time data updates and can use them for cryptocurrency trading. Market trends and price movements are changing rapidly, so traders try to stay current with market sentiment. Users track the real-time data update to buy, sell or trade their favorite coins and tokens, which can be identically essential for making the right trading moves.
Monitoring Trading Volume & Prices in Real Time
The Binance “Favorites” feature allows clients to monitor the twenty-four trading volume, which helps predict traders’ interest in investing money in related cryptos. By deeply observing the trading volume, traders and investors can quickly gain market share. By monitoring real-time prices, users stay familiar with cryptocurrency price fluctuations, market sentiments, trading opportunities, and important news that can impact the overall market.
Conclusion: Binance Watchlist
In conclusion, the “Favorite” feature of Binance is essential for users that can assist in getting the real-time prices, trading volume, and market capitalization of their selected cryptocurrencies. Data analysis on selected cryptocurrencies can help to make a profitable decision based on the latest market sentiments and corresponding crypto announcements. Binance’s Watchlist is a tool for traders and investors, such as beginners or experienced traders, and it is not a complicated tool; typically, users like easy tools.
FAQs:
1. Does it cost money to list on Binance?
The fee for the transaction of the crypto assets on the Binance platform is 0.10%, and the fee for trading, such as spot trading, options trading, and margin trading, is 0.50%, depending on the trade size.
2. How do I find new coins due to be listed?
There are different platforms where you can track the newly listed coins and tokens, such as Coinbase, Okex, Binance, Kucoin, etc. You can also monitor the community and social media pages like Twitter, Facebook, Instagram, and their official websites.
3. How do you list crypto on Binance?
First, you must complete your project’s white paper and then provide the data to Binance, where your project is already listed. You must accomplish the policy guideline of the Binance Network and integrate with Binance coin (BNB) to your crypto project.
4. What is a crypto watchlist?
Crypto watchlist refers to the favorite cryptocurrencies of crypto users in which they are interested and want to track for some specific targets.
You can read our blog, how to create a watchlist and portfolio on CoinMarketCap also.