What is White list Address and Stop limit order in binance?
Binance login has put many security features for its users, So there is no unauthorized transfer from some account. One of those security features is Whitelisting an address. In, simple words, When this feature is turned off, you can make withdrawals to any account.
However, when it is turned on, only verified accounts could make withdrawals from the account, in other words, Accounts which are whitelisted. There are numerous benefits to it. However, the most important is this, If someone hacks your account or you ever became a victim of phishing, they still won't be able to get your money.
ow To active the Whitelist
We Are going to do it on Binance official app. However, the process can be applied to its website as well. On the app, click on the profile icon. Below, you will have the option of security. Click on it. Now there are several options here; we need to choose address management. Here an option of Whitelist. It is off by default, Drag it right, To enable it. It will now ask you if you are sure to on it. If you are sure, click on turn on.
On the next step, you are going to need to authenticate, Either via yubikey or Google authenticator. Enter the Six Digits provided by Google authentication. Now, it is enabled.
How to add a whitelist withdrawal address?
You have enabled it; you need to add an address manually for this example. We are going with trust wallet app. It depends on your Coin, either it's going to need only an address or memo as well.
Put a name, Then memo, then click on submit. You are going to need to perform Google authentication again. Then an email confirmation will be sent to your registered email address. After you confirm it, the whitelisted address will get created.
Now, when you are making a deposit, it can be done only to this address. So it's become an extra layer of security for your account and your funds.
What is Stop- Limit order in binance?
Stop Limit is used when you are trading, in simple words, when there is stop price is reached on your trading, Your limit order will get places on the order book.
Let's say. You have bought some Bitcoins, and it is Going further rise in the future. However, there is a chance; it can Go down as well. So you can set a limit from where it won't go further down. To do it, Go to Binance account after login, then to market.
You will see two tabs of stop and limit options. It is for both to sell and to buy. When you click on either Buy BNB or Sell BNB, it will ask you to place an order. After it, you will see a confirmation message.
Stop order limit is a risk management tool when you want to take risks.