Why is Bind The Monster useful?
Bind the Monster is the newest card from a decent list that both taps the creature when you play it, and keeps it tapped. Most of these that do only that cost 3 or 4 mana, the ones that cost only 1 have significant downsides to them:

Tangle Kelp only works at most every other turn - since it keeps it tapped only if it attacked last turn.
Paralyze lets them pay mana to untap it, they can decide if it's worth 4 mana to have their big threat back for the turn.
Bubble Snare doesn't tap unless you kick it, making it a 4 cost.

And then we have the new 1 cost, Bind the Monster, which also has the creature do damage to you when you use it. It does that damage only once however, then it can't attack, it is also not combat damage - so effects like Fynn, the Fangbearer giving poison counters, or Master of Cruelties setting your life to 1 point won't happen. The creature being kept tapped means it won't be able to attack or block, or use any effects that require it to tap, so no more using Elvish Archdruid to generate a ton of mana in an elf deck.
Most of the time it's easy enough to remove a creature instead. Most kill spells cost 2 or 3 mana like Poison the Cup, most spells that exile cost 3 or 4 - neither of these are things that blue tends to do, kill spells tend to be black, exile spells tend to be white. Blue usually deals with creatures three ways:

Countering them before they resolve - this is very time specific, you need to do this when the creature is cast, but it's usually the most efficient and permanent solution.
Unsummoning them. This sends the creature back to the hand, so it's only a temporary fix, your opponent can usually just play it again next turn, but this tends to be the cheapest option at 1 or 2 mana.
Tapping the creature and keeping it tapped. This is the middle ground. The creature is still on the battlefield, but it can't do much while there. It usually costs about the same as more permanent removal in black or white.

There's a few bad habits and ways of thinking that tend to take players a while to get out of, I suffered from these myself when I started:

Avoid losing life - life is a resource just like mana, and it's only the last point that matters. Winning with 20 or more life counts just as much as winning with only one point left.
Play the strongest cards - It's really a balance between how much it costs and how much it does. Low cost spells that have good, if not spectacular effects can often be better in the long run, you can play them easier when you need them.
Auras on my own creatures - Auras can go on whatever they say they can go on, when it says &quot;Enchant Creature&quot; that means it can enchant any creature you can target - not just yours. Most of the creature auras in Magic are meant to give a boost to creatures, but there are still a good number meant to weaken or hinder a creature, those ones you want to put on your opponent's creatures.