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Binance

Binance is a cryptocurrency exchange that has been around since 2017. It has a robust offer for traders to make it easy to trade. It is the largest cryptocurrency exchange introduced in the market.
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Cryptocurrency financial market is widely accepted with many uses for traders. With cryptos in hand, they can buy, sell or hold the digital currency for various benefits. In addition, traders can make payments with crypto coins and have smooth trading. These amazing and attractive features of the modern trading world make traders invest. But, for trading, they require a trading platform that has facilities supporting them in successful trading. Binance review analyzes services it provides to clients to invest in the market. They can read it and properly know the facilities to make it convenient.

Cryptocurrency financial market is widely accepted with many uses for traders. With cryptos in hand, they can buy, sell or hold the digital currency for various benefits. In addition, traders can make payments with crypto coins and have smooth trading.

These amazing and attractive features of the modern trading world make traders invest. But, for trading, they require a trading platform that has facilities supporting them in successful trading.

Binance review analyzes services it provides to clients to invest in the market. They can read it and properly know the facilities to make it convenient.

Binance Review

Binance, one of the oldest cryptocurrency exchanges, has seen tremendous popularity since its launch. The exchange platform allows crypto enthusiasts to buy, sell, stake, hold or trade cryptocurrencies.

Additionally, the exchange counts among the top 10 crypto exchanges in the world. The platform is specially designed for professional traders. So, if you’re a beginner, you may find the platform a little complicated.

The best features of this exchange platform include its relatively low trading fees and a long list of supported cryptocurrencies.

Apart from spot trading, the platform allows traders to access a variety of trading options including futures and options, with several order types.

The major drawback of the platform is the non-availability of its few features in the United States. On the other hand, US clients can trade in only 65+ cryptocurrencies.

In addition to the trading services, Binance also offers an interactive learning platform, an NFT platform, and many others. However, the NFT platform is not available for US clients.

Meanwhile, the crypto exchange provides services through two of the most powerful trading platforms: A web-based platform and an intuitive mobile app.

Both platforms offer similar offers and services. So, that’s it! For more comprehensive information, continue reading this Binance Review.

At a Glance

Pros and Cons

Pros and cons are a sketch of the cryptocurrency exchange that defines, in short, what all traders can enjoy at the exchange. At the same time, cons are given to make the traders aware of the pitfalls they may encounter.

Here, we have the pros and cons of the Binance cryptocurrency exchange:

Pros

  • More than 365 cryptocurrencies to trade
  • Low trading fees
  • Secure system
  • Trading platform
  • Easy deposit and withdrawals
  • Educational services
  • Tools and indicators
  • Derivatives trading
  • Strategy trading
  • Earn options
  • Crypto loans

Cons

  • Binance US has limited access
  • Complex trading platform

Is Binance Legit or Scam?

Binance is the largest cryptocurrency exchange introduced in the market in 2017; the exchange has robust offers for the traders to make it easy to trade. In addition, traders can invest in the crypto market with the exchange and enhance their trade knowledge.

The exchange is recorded in the Cayman Islands and is a big brand in the crypto market. Initially developed in China, Changpeng Zhao established it as a decentralized cryptocurrency exchange.

The country’s regulatory bodies authorize it to work in and provide a safe and secure trading environment. For example, Binance.US is regulated by US authority while Binance France by the country’s controlling body.

Thus, it could be said; that it is a legit cryptocurrency exchange that works to the best of its efforts to make the best trading platform.

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Trust Score
Regulation Comparison

Feature

Binance

Overall

4.5/5

Trust Score

97

Research

5/5

Offering of Investment

4/5

Platforms and Tools

4/5

Education

4/5

Mobile Trading App

5/5

Commission And Fees

4/5

Security

Security is what traders first look for with any cryptocurrency exchange. Binance has effective security systems that ensure the safety of the clients and their funds. These security systems are:

  • Two-factor Authentication
  • Short message service
  • Address whitelisting
  • Device management
  • Encryption

Two-Factor Authentication (2FA)

2FA is a Google Authenticator app that double secures the online trading platform. The market has several methods that hack the trading websites by illegally accessing them.

To protect traders from such frauds, traders can use two-factor Authentication. It secures the traders’ account with two locks and two layers of strong data safety.

Traders can use passwords, phones, or biometric traits to apply two-factor Authentication. It is an easy and simple way to secure trading accounts from frauds.

Short Message Service

SMS is a text message service of Binance where traders receive messages whenever they sign in or access any assistance with the exchange. This ensures that clients themselves are using it.

If they do not do the act, they can report the same, and the website of Binance blocks the account to secure the funds and data.

Miscellaneous

Besides the two mentioned above, Binance has an address whitelisting that allows the withdrawal of funds for the addresses already assigned by the client in their address book.

Device management and restricting device accessibility are highly important for traders. With Binance, they can manage their device easily and keep it secure from any illegal activity.

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Our Recommendation: Binance

Which Cryptocurrencies are available with Binance?

Binance is a popular cryptocurrency worldwide, with major and minor cryptocurrencies for traders. They can access the cryptos online at the exchange’s website by opening a trading account.

Traders can have spots, futures, and new listings at Binance to trade. Below is the list of some most important cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • PAX Gold (PAXG)
  • Harmony (ONE)
  • Orchid (OXT)
  • Helium (HNT)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Stellar (XLM)
  • Tether (USDT)
  • Dash (DASH)
  • Cosmos (ATOM)
  • Compound (COMP)
  • Litecoin (LTC)

The crypto exchange has more than 365 cryptocurrencies for traders to invest in. Out of these, only 65 are available in the US. Traders have the digital currencies available as per the location and can also have fiat currencies to trade.

How to Open an Account with Binance?

Cryptocurrency exchanges have the same process of opening their account. It is a simple procedure that requires 10 to 15 minutes for the traders to have their trading accounts.

Here, we have the account opening steps of Binance to guide traders and make their trading journey easier. So, let’s start:

  • The initial step is to register with the exchange; traders can use their google account or email to write directly. Next, they enter their email address and other login details to register.
  • The second step is to set up the security with 2 FA and verify it with the Binance system. Then, finally, they verify their email address and log in again to their account.
  • Then traders verify their identity online through the system of Binance. After which, traders can access their account’s homepage. They can check with the cryptos available and other facilities of the exchange.
  • Next, traders can easily add a payment system that they find comfortable using. For example, Binance has bank accounts, credit/debit cards, e-wallets, P2P trading, and cash balance.
  • This way, traders can open their accounts with a deposit of funds, then trade in the market with complete security of the Binance cryptocurrency exchange.

Coins Available

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Chainlink (LINK)
  • Dogecoin (DOGE)
  • Polygon (MATIC)
  • Dai (DAI)
  • Uniswap (UNI)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Filecoin (FIL)

Accepted countries

  • Canada
  • Hong Kong
  • South Korea
  • Singapore
  • United Kingdom

Payment Methods

Bank Deposit

Credit/Debit Card

Cash Balance

Bank Transfer

P2P Trading

U.S. Client Acceptance

yes

Available Trading Platform

Binance has two platforms for trading due to regulatory reasons. One is Binance.US for US traders, and the other is Binance. The US-based exchange is limited to services for the traders of the country.

While the other platform is open to all countries and has a wide range of services, making trade the next level, the benefits of Binance are divided into two parts: its desktop trading platform and the Binance app.

As the name says, the desktop trading platform is available for PCs that traders can use directly. They can have all the exchange facilities online and be connected with the market.

The trading services like cryptocurrencies, security features, easy account opening, low fees, and commission make the trade more convenient. In addition, it has all the trading tools traders can use to trade with the best crypto exchange.

Binance Mobile App

Binance mobile app is the trading platform that offers financial services in hand. Traders can download the application on their mobiles through Play Store or App store, whichever they have.

Next, they can log in and have all the services available with desktop trading. Trading charts, tools, indicators, customer support, automated trading, expert advisors, etc.

Thus, the trade remains the same with accessibility anytime and anywhere—a smooth trading experience with the Binance mobile app trading platform.

Quick Guidance

 

Exchange details Info
Crypto conversion Free
Account minimum $10
ACH transfer Free
Wire transfer $15
Buy/Sell Crypto 0.5%
Credit/Debit cards 4.5%
Wallet N/A

Company Information

Exchange Details Info
Headquarters Country United States
Foundation Year 2015
Type Crypto Exchange

Fees, Deposits, and Withdrawals

Fees

The fee structure of Binance is based on the services and instruments used by traders. Therefore, they can check the website of Binance, www.binance.com, to have a proper detail of the fees charged for each crypto.

It uses the maker and taker fee structure to make it easy for traders to have smooth trading. Taker is the order which trades at the market price, while the maker is the order which trades at a limited price.

Moreover, it also mentions the VIP trading charges with the maker and taker fees. Therefore, traders can study them and accordingly decide on their crypto investments.

Deposits and Withdrawals

Binance crypto trading does not have any deposit fee for the traders. This is because every crypto token or coin is free of charge to deposit funds and trade. Thus, traders need not worry when trading with Binance.

Withdrawal fees are the charge for having the funds from the Binance trading account. Traders pay a flat fee for withdrawing funds from their account and cover the transaction cost of moving the funds out.

The rates of withdrawal are determined by the blockchain network and keep fluctuating. Traders can go through the list available on the website to check the withdrawal charge for each cryptocurrency.

Final Verdict

Binance review is a gateway to the exchange services that define all the aspects of its trading facilities. Traders can go through the review to increase their knowledge and understand the services offered.

When they are aware of the facilities, they make good decisions; traders can analyze the services of Binance and make it a big trade. The Crypto market is a modern technology world with high security.

Traders can use the regulated exchange with 2 FA and other security services, many crypto assets, trading platforms, and easy deposit and withdrawal with low fees. So enjoy your trade with Binance and be great market investors.

Frequenty Asked Questions

Binance has the following security measures to keep clients and their funds safe:

  • Two-factor authentication
  • Short message service
  • Address whitelisting
  • Device management
  • Encryption

Binance fee structure is based on the maker and taker technology. The fees are low, and traders can easily trade.

Below are the following benefits of the exchange:

  • More than 365 cryptocurrencies to trade
  • Low trading fees
  • Secure system
  • Trading platform
  • Easy deposit and withdrawals
  • Educational services
  • Tools and indicators
  • Derivatives trading
  • Strategy trading
  • Earn options
  • Crypto loans

Cryptocurrencies with Binance could be traded in the spot or futures market, and traders can have more than 365 cryptos. Below are some of the significant digital currencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • PAX Gold (PAXG)
  • Harmony (ONE)
  • Orchid (OXT)
  • Helium (HNT)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Stellar (XLM)
  • Tether (USDT)
  • Dash (DASH)
  • Cosmos (ATOM)
  • Compound (COMP)
  • Litecoin (LTC)

Yes, Binance is considered a safe exchange that allows user account protection via the use of Two Factor Authentication (2FA).

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