A Beginner’s Guide to Binance Lite

TL;DR

Binance Lite is a simplified version of the Binance App. It aims to make buying and selling cryptocurrencies easier for those that are new to crypto trading. On Binance Lite, users can see the prices of the more popular cryptocurrencies, make purchases, check their wallet balance, or subscribe to Binance Earn products in just a few steps.

Note that you can access the Binance Lite feature within the Binance App. There is no need to download another app. If you can’t find the feature, check if your Binance App needs an update.

As crypto continues to grow in popularity, the increasing number of exchanges and trading tools can be challenging, especially to new users. To make it easier for everyone to buy bitcoin and other popular cryptocurrencies, Binance introduced a simplified version of the Binance App called Binance Lite. The function is now available to most Binance users.

Binance Lite is a simplified version of the Binance App. It offers an intuitive interface with a reduced amount of information on the app homepage. Users will only see the basic features when they launch the App, making Lite mode a perfect choice for crypto novices and new Binance users. Also, if you are using an older mobile device or a limited internet connection, Binance Lite can provide better performance than the classic Pro version.

Currently, Binance Lite is the default interface when users open the Binance App for the first time. They can easily switch between the Lite and Pro modes anytime according to their preference and trading needs. To change the app mode, tap on the profile icon on the top left corner and toggle the button next to [Binance Lite].

Compared to Binance Pro, Binance Lite has improved its usability, making it easier for new users to navigate. In the Lite version, users will only see the prices of the more popular cryptocurrencies on the app homepage, along with a green or red line to represent the price trend over a given time period. Despite the simplistic interface, users still have the option to sort the coins according to popularity, market cap, price, and 24-hour changes. They can also tap on a specific coin to check its price trend on an easy-to-read candlestick chart, which can be customized to display the trend over different time periods. Information and news about the coin are also included at the bottom.

Users can buy crypto in just a few steps on Binance Lite. All they need to do is tap on the [Trade] button on the coin page. Select the fiat currency to use, enter the amount to purchase, and choose the payment method to confirm the order. The purchased crypto can then be viewed in the wallet. The same goes for selling crypto. Tap [Sell] on the top right corner, or use the [Convert] function to convert between different coins.

Apart from basic trading functions, Binance Lite offers other Binance Earn products for users to grow their crypto holdings. Binance Earn is similar to a savings account, users can subscribe their idle coins to BNB Vault or Flexible Savings and receive stable returns. Earn products are flexible, meaning that users can deposit funds, earn interest, and redeem them at any time without transaction fees.

To subscribe to Binance Earn products, tap on the Earn banner on the app homepage. Users will see all the available coins and their respective estimated APY.

As mentioned, the Binance Lite mode is the default for all first-time users. It is more user-friendly to those new to crypto trading, allowing them to quickly check prices and make purchases from the homepage dashboard.

Despite having the more complex product functions removed from the Lite mode, the core features that are most frequently used are easily accessible from the navigation bar at the bottom. Users can tap on the middle yellow icon to buy, sell, or convert crypto, or tap on the wallet icon to check their wallet balance, asset allocation, and portfolio value.

On the other hand, Binance Pro offers versatile trading functionalities to fulfill professional traders’ needs, such as Futures Trading, Options Trading, and Margin Trading. The trading interface on the Pro version is more robust and offers advanced charting tools and order types. In addition to the more sophisticated interface, users can trade on Binance P2P with other users, or grow their crypto assets with the various staking plans available on Binance Earn.

If you are an active or experienced trader, the Pro version might be a better choice, as it provides more features and trading tools for you to take advantage of the diverse Binance products and services we have to offer. If you are new to the space and looking for a quick and easy way to get started, we recommend using the Lite mode first. Either way, you can always experiment with both options as it’s very easy to switch between the Lite and Pro versions.