Binance Review

This Binance Review will introduce you to one of today’s cryptocurrency industry phenomena called Binance.

Binance is the global leading blockchain ecosystem and infrastructure provider for the cryptocurrency industry, with a portfolio of financial products that includes the most prominent digital asset trading exchange by volume.

Trading platform Binance offers a unique portfolio of cryptocurrency products and opportunities. These include trade and finance, education, research and data, philanthropy, investment and incubation, decentralization and infrastructure solutions, and much more.

Binance Exchange is the parent company of BINANCE Holding Limited. It is one of the most liquid and popular online cryptocurrency platforms globally. The Binance platform ranks first in ranking the best cryptocurrency exchanges in terms of liquidity, trading volume and traffic according to the Coinmarketcap service.

Binance is a reliable, popular and highly rated crypto exchange by almost all traders. The daily trading turnover on the exchange reaches nearly $ 1.5 billion, and about 1.4 million transactions are processed per second. In addition, the company provides the lowest commission in the crypto industry – just 0.1% per trade. Today, we prepared this in-depth Binance review to show you how you can trade most of the cryptocurrencies, popular NFTs, earn interest on your crypto deposits and do “all things” crypto with this popular exchange.  

binance review advanced trading terminal

binance

⚛️ Binance Ecosystem
? Designed for Professionals
? Crypto Loans & Cards
✅ 2500+ Cryptos & NFTs

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Binance Review: Company History

Let’s start our Binance Review with a brief history of the company. Binance crypto exchange, founded in 2017, has become a global blockchain company that provides a full range of services for investors and traders.

The head of Binance is Changpeng Zhao, better known as CZ in the crypto community. He has a long history of software development for Wall Street futures trading. In 2005, CZ stepped down as head of the research and development team at Bloomberg Tradebook Futures and moved to Shanghai. There he founded Fusion Systems. After discovering Bitcoin, he worked at Blockchain.info as Director of Technology and other projects.

CZ is one of the leading developers of the popular Blockchain.com platform. In August 2017, one of the top financiers and the most influential people in China’s online economy, Yi He, joined the company.

In January 2018, Binance came out on top among the world’s crypto exchanges in trading volume.

The main task of the Binance crypto exchange is to make available the trading of digital assets, most often Bitcoin. The business has earned the trust of the crypto community primarily thanks to a strong team of developers who know their job well. As a result, Binance regularly attracts new investors and sponsors to continuously develop and improve the platform.

Binance exchange is widely known as one of the most successful ICO (Initial Coin Offering) projects. Between July 1 and July 20, 2017, the sale raised $ 15 million within ten days of launch. The initial ICO price for one BNB (token) was $ 0.115.

binance review advanced trading terminal

Binance company was founded in China, but it moved its headquarters to Japan ahead of the Chinese government’s ban on cryptocurrency trading in 2017. In 2018, Binance opened offices in Taiwan and announced a move to Malta. However, in 2020, the Malta Financial Services Authority (MFSA) clarified that Binance is not officially registered or regulated.

While Malta remains the de facto headquarters of Binance at the time of writing this Binance review, the company is incorporated in the Cayman and Seychelles. In addition, it has branches in California (USA), London (UK), Paris (France), Berlin (Germany), Moscow (Russia), Istanbul (Turkey), Singapore, New Delhi (India); in total, the Binance team operates in over 40 countries. By the way, the legal entity of the exchange for European clients is Binance Europe Services Limited (British Virgin Islands); for UK clients – Binance Markets Limited (London); for American clients – Binance.US (BAM Trading Services Inc., San Francisco).

The Binance exchange has more than 15 million users, and the daily trading volume is more than $ 10 billion.

Binance’s long presence at the top of the global rankings and many positive reviews can be explained by some factors, namely: the ease of registration on the platform, the ability to process a large number of transactions, meagre trading fees, a global approach to its business and the availability of the platform in several languages.

The Binance company’s mission is to be a leader among the providers of infrastructure services for the blockchain system. Human resources and innovative thinking are valued here. 

Binance Exchange Overview

Binance is the largest cryptocurrency platform used by millions of traders worldwide.

Since November 2019, Binance has been working with fiat. As a result, six fiat currencies are now available to exchange users: USD, EUR, RUB, UAH, KZT, TRY.

In February 2020, Binance supported direct cryptocurrency purchases using Visa and MasterCard through the Simplex payment processor. As a result, the list of available currencies you can buy Bitcoin and other cryptos from a card includes dozens of national currencies and is constantly growing.

In October 2020, Binance introduced exchanging cryptocurrencies for cash in person. In addition, qualified merchants can use the service through the Binance P2P peer-to-peer platform.

binance review advanced trading terminal

binance

⚛️ Binance Ecosystem
? Designed for Professionals
? Crypto Loans & Cards
✅ 2500+ Cryptos & NFTs

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

At the time of this Binance review, the following currencies are available for P2P exchange:

Cryptocurrencies: USDT, BTC, BUSD, BNB, ETH, DOGE, DAI;

Fiat: AED, AMD, ARS, AUD, BDT, BHD, BND, BOB, BRL, CAD, CHF, CLP, CNY, COP, CRC, CZK, DOP, CZD, EGP, EUR, GBP, GEL, GHS, HKD , IDR, INR, JPY, KES, KHR, KRW, KWD, KZT, LAK, LBP, LKR, MAD, MMK, MNT, MXN, MYR, NGN, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN , PYG, QAR, RON, RUB, RWF, SAR, SDG, SEK, SGD, THB, TND, TRY, TWD, TSZ, UAH, UGX, USD, UYU, UZS, VES, VND, XOF, ZAR.

In 2019-2020, Binance acquired WazirX, the largest cryptocurrency exchange in India, dap DappReview, a Chinese analytics platform, and CoinMarketCap, the most popular cryptocurrency market’s data aggregator platform.

In 2021, the exchange launched Binance Futures, a futures division for margin trading. 

In June 2021, it launched its NFT marketplace. The Binance NFT Marketplace is a marketplace that features all kinds of digital art and collectables with millions of active users. 

Binance sets ambitious goals to become a decentralized autonomous organization (DAO) with a fully open-source Binance Chain and its own cryptocurrency Binance Coin (BNB), in the future. The DAO will provide an opportunity to trade using fiat cryptocurrencies for more than 180 fiat currencies.

As we have already noted in this Binance review, today, Binance is more than a crypto exchange. It is a whole ecosystem of products and services designed to make it more accessible for people to handle cryptocurrencies and participate in the blockchain industry, which you will not find on any exchange.

Spot, P2P, OTC, futures trading with up to 20x leverage, options, cryptocurrency margin trading are available on the exchange website; staking, landing, pharming, mining pool, liquidity pool, NFT, etc.

Among offering exchange’s products, we should mention in this Binance review other services that the company offers:

  • Three types of spot trading: basic, classic and advanced;
  • Margin trading with leverage up to 5;
  • Multi-platform support for mobile applications for Android, iOS, macOS and Windows, as well as Binance API;
  • Binance Futures – derivatives trading platform;
  • Binance Launchpad – Platform for Initial Exchange Offerings (IEO);
  • Binance Finance – crypto lending and other means of generating passive income from crypto assets;
  • Services – Exchange, Margin, Futures, Lending, Launchpad, Research, Staking, Crypto Loans, OTC, P2P, Binance Card, Liquid Swap, Pool, NFT;
  • MainNet – Binance Chaine, Binance Smart Chain ( blockchain project and Binance smart networks;
  • And much more.

The distinctive features and key advantages of the Binance platform that we would like to mention in this Binance review are as follows:

  • High speed of transactions;
  • Low commissions for trading and withdrawals;
  • A wide range of trading instruments;
  • Reliable protection algorithms;
  • More than 400 available cryptocurrencies;
  • Ability to replenish fiat account with currencies;
  • Simplified version for newbies – Binance Lite.

Developers record 0.6-1.1 million active traders who carry out daily transactions using the trading platform. 

We remind readers of the Binance review that the Binance exchange works with the expectation of international trading. The official website has been translated into 41 languages. Multilingualism is a significant advantage of the business targeting clients from all over the world. In addition, users get access to trading in their native language, which significantly simplifies the work with the platform.

Reasons for the widespread demand for the Binance exchange:

  1. All operations are executed quickly on this site – more than 1.5 million per second.
  2. There are low commissions – from 0.1% per trade and even less if you pay in BNB.
  3. Good liquidity – many traders who buy and sell on the exchange create many orders, so orders are permanently closed promptly – there is a decent level of supply and demand.
  4. A large selection of assets – hundreds of cryptocurrencies in a wide variety of trading pairs.
binance

⚛️ Binance Ecosystem
? Designed for Professionals
? Crypto Loans & Cards
✅ 2500+ Cryptos & NFTs

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Binance ICO

 Binance’s ICO is considered a benchmark among the crypto community.

Judge for yourself:

  • Start Binance ICO: July 1, 2021;
  • End of Binance ICO: July 21, 2021;
  • Collected: 15 000 000 USD;
  • Platform: Etherium;
  • Token: Binance Coin (BNB)
  • Total tokens: 200,000,000;
  • Tokens for sale: 100,000,000. 

Binance Review: How to Open Account on Binance 

Novice traders are sure to ask themselves how to open an account on Binance and choose this exchange. After all, margin trading with bitcoins and other leading cryptocurrencies such as Ethereum, Ripple, Bitcoin Cash Dogecoin and Litecoin turns out to be not so easy for beginners. However, these difficulties can quickly eliminate if you cooperate with the Binance cryptocurrency exchange. 

All internal settlements on the crypto exchange are made using Binance Coin – the internal digital currency of the crypto exchange, which has many advantages.

What is a Binance account?

Binance Coin (BNB) is the backbone of Binance user accounts. Its primary purpose is to pay listing fees and transaction fees on the platform. However, it is also a separate form of payment with a growing number of online sellers who can also act as an intermediary when buying other coins. And we want to focus the attention of Binance review readers on it. 

The popularity of the Binance exchange is so high that it processes over a million transactions per second. In addition, BNB coin holders receive a discount on their trading fees and access to other unique features such as in-store merchandise and the ability to invest in new blockchain projects exclusive to Binance. 

Binance first released the coin in June 2017, but it wasn’t until 2021 that its value exploded, rising from $ 45 to over $ 500 in a few weeks.

How does the Binance account work?

Binance coin keeps the history of all movements and transactions on the public Blockchain. The coin was initially issued on the Ethereum blockchain but has been moved to Binance’s chain, where the entire history of the currency is recorded.

The value of Blockchain is that it replaces the need to monitor and approve transactions by a central authority such as a bank. So, for example, if someone wants to release BNB, the Blockchain can check if everything is legal and allow it.

Initially, Binance, as an incentive for owning a coin, offered a 50% discount on trading fees when buying for BNB, but by 2022 this discount has been reduced to zero. As a result, 20% of costs are “burned” annually to compensate, increase the shortage of coins and preserve the value of BNB.

How do I open an account on Binance?

A new user needs to register and fund the OTC wallet to fund your first trade deals. Then you can buy any other chosen cryptocurrency – all this is done as quickly and safely as possible for users, moreover, with a minimum commission. After all, Binance offers favourable conditions for trading and exchanging cryptocurrencies and promptly carries out all operations compared to competing exchanges, allowing you to respond flexibly to changing market conditions.

binance review how to open binance account

binance

⚛️ Binance Ecosystem
? Designed for Professionals
? Crypto Loans & Cards
✅ 2500+ Cryptos & NFTs

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

As part of our Binance review, we will dwell on the registration procedure as an essential part of opening an account on Binance.

The entire registration process (login to Binance) and account opening can be broken down into several steps:

  1. Follow the link Registration “. The user has access to registration methods by phone or email on the opening page. The procedure in both cases is carried out similarly. Registration is simple and usually only takes a few minutes. You will need to indicate the minimum contact information, such as email phone number.
  2. After filling out the registration information, you need to verify your email address – enter the inbox specified during registration, then select the email from Binance. Follow the link indicated in the letter by this action confirming your mailing address.

After filling in the email or phone fields, a small window with an access code will be displayed. This code comes by mail or SMS.

 Then you will see a welcome page.

It will confirm the creation of a personal account. You can save your account password on your device, and next time, you will be able to enter your account faster by clicking the “Login” button.

  1. After successfully confirming the email, it remains only to enter the created personal account using the previously specified email and password.

After going to the control panel, you will see a window where your data will display, the remaining steps for complete security and an invitation to replenish your account.

Addition. By the special offer, new users can receive a bonus voucher for $ 30. First, you need to register on the link and perform two tasks in the ” Task Center” After their performance can pick up a coupon at the ” Center of rewards.”

It is essential to know that you get a lifetime discount on commissions of 5% when registering using a link on the site.

  1. Next, you need to go through your account verification.

Binance Verification Process

Verification simplifies the withdrawal and deposit of money. For example, it is necessary to withdraw more than 2 BTC per day from an exchange account. It also opens up wider opportunities for advanced exchange functionality and trading tools.

This function is optional for beginners. However, those who want to expand the withdrawal limit or buy a cryptocurrency for fiat need to verify their identity. Then you need to prove yourself. But if you are satisfied with the limit of 2 BTC per day, then verification is not required for you.

How to verify your Binance account?

In our Binance review, we propose the following sequence of actions:

  1. Log in to your account, click the “Identity Verification” button and follow the steps described below within 15 minutes MANDATORY;
  2. In your account, click the “Verify” button and fill in your data;
  3. Click “Send and continue“, then a window will open for entering information about your documents;
  4. Take a photo of the document (passport, driver’s license or ID card), take a clear selfie;
  5. Submit your application. It is reviewed within 1-3 days. If the application is rejected, you can try again in a day.

Verification on Binance is not required if the daily withdrawal exceeds 06 BTC and the user does not plan to work with fiat currencies. But after passing it, the restriction on the exit of 2 BTC per day is removed, and the possibility of interaction with fiat opens up. The Binance exchange works with fiat currencies such as RUB, UAH, EUR, KZT, TRY and others; in them, you can replenish the balance and withdraw funds.

For verified users, the daily withdrawal limit is 100 BTC.

  1. The next step is to fund your account. To replenish your account, you can use any available and most convenient methods: bank transfer, payment by cards or electronic wallets, or cryptocurrency.
  1. Then, you need to get a suitable cryptocurrency wallet. Wallets are one of the ways to store coins encrypted. They are much safer than keeping your cash in an exchange account because they are accessed using a unique private key to each user. Binance offers 150 cryptocurrencies and no fewer wallets available in one account.

There is nothing easier than opening an account on Binance. Registering an account gives users unlimited opportunities to exchange and trade cryptocurrencies, fiat currencies, stocks and goods.

Why do so many users prefer Binance exchange? 

This Binance review won’t be complete if we don’t cover why so many users worldwide choose Binance as their preferred platform for cryptocurrency trading. The main reason is that the Binance platform is simple and very easy to use for beginners. Overall, Binance is a cross-currency and stock exchange combined with a simple, user-friendly environment. Therefore, the incentive to open an account on Binance is the following main advantages:

  1. Maximum convenience and safety for users. Traders can have complete peace of mind knowing that the exchange is fully regulated and by international law. The company adheres to the concept of maximum simplicity and openness, simplifying the process from registration to cryptocurrency trading to a few simple steps. Binance makes it easy to focus on what matters most: profitable trading and start trading from as little as $ 5. Complementing this is an incredibly intuitive user interface that enhances Binance’s trading capabilities.
  1. Ease of registration. Among the many things that have a lot to offer at Binance, the registration process on the platform is worth noting. While other crypto exchanges require endless amounts of information and verification processes, Binance can help you complete your first contracts in minutes. To register, you will only need an email address or phone number. Once you register with your email address or mobile phone number, you will be assigned a secure personal account;
  1. Trade transparency. Integration of charts and tools for professional display allows you to predict transactions with great accuracy by drawing and reversing trend lines of technical analysis, choosing long positions and viewing profitable options in a convenient time frame. In addition, Binance displays real-time price data.

It is also essential to consider that Binance is open to crypto trading and cryptocurrency exchange 24/7, a significant advantage. As a result, you will appreciate the benefits of the company’s trading products and the ease of how to open an account with Binance compared to other crypto exchanges.

Binance Review instructions. Deposit and withdrawal of funds to Binance. 

At first, Binance only traded in cryptocurrency. It even provided a unique wallet to store cryptocurrency on the Binance exchange. But since 2019, an exchanger has become available for converting at the rate for fiat money. As a result, the first trading pairs were the Euro and Pound Sterling, Bitcoin, and Ethereum.

binance review advanced trading terminal

binance

⚛️ Binance Ecosystem
? Designed for Professionals
? Crypto Loans & Cards
✅ 2500+ Cryptos & NFTs

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

To deposit funds into your account, you need to select an account. There are several: central; margin; futures; P2P; Earn; Pool; traditional options; BPLAY; JEX; WazirX; Binance TR.

Different accounts are used for other money transactions: transferring, buying cryptocurrency, playing with interest on the history, transferring fiat and spot balances to cryptocurrency.

Select the required cryptocurrency to which you want to transfer funds in the account you need. Here you need to pay a commission for processing cryptocurrency payments. Crediting a deposit takes time and confirmation. Therefore, transaction time depends on the chosen cryptocurrency.

Sometimes, even less time is spent withdrawing the earned funds than depositing. You can start money by going to your Wallet, for example, in the “Main account” section. Here you will see an output window.

You need to select the “Cryptocurrency” or “Fiat” tab. When withdrawing cryptocurrency, you need to transfer funds from other accounts to the spot one. Depending on the chosen cryptocurrency, the withdrawal fee changes.

For convenience, the company provides customers with a Binance Visa Card. Here you can convert spend cryptocurrency. Then, you need to transfer it from the spot wallet to the card wallet. All this is done inside the exchange. As a result, transfers within Binance are simplified and done in a few clicks.

binance review advanced trading terminal

The withdrawal of the card is carried out quickly. In the field for the transaction, you need to enter its number. Payments are usually received within an hour. It also displays a stop limit of 2 bitcoins in 24 hours.

After clicking “Transaction History” in your account, you can find their status in the blockchain network. In addition, you can constantly see the balance by choosing one of several accounts.

Personal protection works well. After completing the withdrawal and specifying the wallet address, you must confirm the transaction by entering the 2FA two-factor authorization code. Then you need to follow the link in the email.

Thus, you have familiarized yourself with the first mandatory steps of each beginner described in detail in Binance Review, without which he will not be able to become a full-fledged user of the Binance exchange.

Binance Trading Platform

There are four types of trading available on Binance, which we want to draw the attention of the Binance Review readers to Spot, Margin, Futures, and P2P.

 Spot. In the spot market, financial instruments are traded with so-called “immediate delivery”. Delivery in this context means exchanging a financial instrument for the money. The spot market can be thought of as a kind of space where transactions are made “on the spot”. There are over 1200 trading pairs available on Binance, including fiat currencies.

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Margin. Margin trading assumes that the trader will necessarily “close the transaction”, that is, perform a paired counter-operation relative to the “opening” transaction. In other words, if the first was the purchase of bitcoins for yen, then after a while, there will be the sale of these bitcoins for yen, and not the payment of certain goods with purchased bitcoins. At the same time, a trader can make transactions for amounts that are many times higher than his real funds (use leverage).

Futures. Since September 2019, six cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and EOS) have traded futures contracts. Each instrument has its leverage: for Bitcoin – from 1 to 125, altcoins – up to 75.

P2P. Binance P2P allows you to sell and buy cryptocurrencies and use over 150 payment methods, including bank transfer, cash, PayPal, M-Pesa, and various e-wallets.

Binance Trading Modes

Binance provides several trading modes for users with different backgrounds in the crypto sphere. With an immense daily trading volume, the Binance exchange can provide cryptocurrency trading at a basic and advanced level.

It is possible thanks to the trading terminal operating in two modes – Basic and Advanced. They are distinguished by an extended set of trading indicators and professional tools for technical analysis, available in an advanced version. 

Binance OTC Trading Portal

This OTC trading portal has no trading fees, and settlements are speedy.

The size of a transaction’s minimum for an over-the-counter trading portal is $10,000, or its equivalent. Initially, 25 different coins and tokens were available for trading. In addition, users only need a Binance.com account verified by the KYC procedure (level 2) to start trading.

Basic trading conditions (important information for Binance review readers):

  • the trading platform of the “Basic” and “Advanced” levels;
  • there is a demo account and a main standard account;
  • 25+ payment systems;
  • 70+ options;
  • 40+ instruments;
  • mobile trading is available;
  • 8 communication channels;
  • commission – from 0.012 to 0.1%;
  • trade fee – from 0.024%;
  • the minimum amount for purchase is $ 15;
  • 288 cryptocurrencies;
  • 969 trading pairs;
  • available margin trading;
  • futures are available.

Binance Trading Accounts:

One of the reasons Binance is so popular is that it is not an exchange that overloads its customers with unnecessary information. There are only two accounts here: demo and standard.

The main exchange account, if you wish, becomes a cryptocurrency wallet with the following functional characteristics:

  • commission for trading – 0.1%;
  • order processing speed is 1.4 million per second;
  • the exchange’s currency is a token, its commission is 0.05%.

Here you can also open a free demo account, where all types of operations are available for payment with trial funds.

Binance Platform Trading Tools

Binance is unique because its relatively young age has many tools. Therefore, we will describe only the main ones.

binance review advanced trading terminal

binance

⚛️ Binance Ecosystem
? Designed for Professionals
? Crypto Loans & Cards
✅ 2500+ Cryptos & NFTs

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

At the first time, Binance was strictly a cryptocurrency exchange. It offers only cryptocurrency exchange, and all transactions within the platform were carried out using digital money. The first cryptocurrencies for which it opened futures contracts were: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, EOS. Today the range of instruments has been significantly expanded.

Even though Binance is positioned as a platform for cryptocurrency trading, its functionality is not limited to spot trading. Meanwhile, and this, we think, will be of interest to the Binance Review readers, on the exchange site are also available:

Binance also provides automated trading. There is also the option to short with leverage using margin trading, the futures platform or the spot market. In addition, you can apply for the listing of a new coin, which is growing every year. You need to enter your full name in the specified field and enter detailed information about the token (coin) – the application will be considered. In this way, not so long ago, a new blockchain was launched here – XYM on the Binance exchange.

Binance Review: How to Buy Cryptocurrencies with Binance

Cryptocurrency trading is one of the main sections of this Binance review.

Binance Trading Markets

As noted earlier, there are over 400 cryptocurrencies available on Binance, one of the best performers on the market. The most popular currencies on Binance are:

Tether USD (USDT); Binance USD (BUSD); Bitcoin (BTC); Coin (USDC); Try.finance (TRY).

In addition to its own BNB coin (Binance Coin), the platform works with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), EOS (EOS), NEO (NEO), Status (SNT), Bantam (BNT), Gas (GAS ), Tether (USDT), OAX (OAX), ChainLink (LINK), Verge (XVG), Centra (CTR), EthereumClassic (ETC), Monetha (MTH), Enigma (ENG), Zcash (ZEC), AirSwap (AST ), Dash (DASH), BitcoinGold (BTG), Everex (EVX), RequestNetwork (REQ), Komodo (KMD), Nuls (NULS), RCoin (RCN), RaidenNetworkToken (RDN), GenesisVision (GVT), INS Ecosystem ( INS), CoinDash (CDT) and other cryptocurrencies. 

binance review binance trading markets

There are 315 trading pairs. The main coins, which are paired with trading:

Bitcoin (BTC); Ethereum (ETH); Binance Coin (BNB); Tether (USDT).

Liquid cryptocurrencies: Bitcoin, Binance Coin, Ravencoin, IOST, Cardano, Tron, Ethereum, Litecoin, Bitcoin Cash, EOS, Chiliz, Zcash, Ripple, Zilliqa, Groestlcoin, Ontology, Chromia, ICON, NEO, Polygon, 0x, Verge, VeChain, Aelf, NEM, Theta Fuel, Stellar, etc.

The largest daily trading volume falls on the following cryptocurrencies: TRON (TRX / BTC); NEO (NEO / BTC); Ethereum (ETH / BTC); TRON (TRX / ETH); Bitcoin (BTC / USDT); Binance Coin (BNB / BTC); NEO (NEO / ETH); Bitcoin Cash (BCC / BTC); Ethereum (ETH / USDT); INS Ecosystem (INS / BTC).

It is convenient and profitable to trade cryptocurrency on Binance. For this, several types of trading are practised (it is essential for Binance Review readers):

– Conversion. The easiest way to learn. Here you can trade different cryptocurrencies on a single platform. Often this is USDT on the Binance exchange (cryptocurrency, tokenized dollar), BTC, ETH, and others;

– Classic. You immediately get into a window with live charts, indicators, and signals when you select. Here you choose pairs to trade, and there is a beginner’s guide to spotting trading;

Advanced. Here you will see and get access to all the trading instruments of the exchange;

Margin. You can only trade on the margin platform after answering the particular test questions. Here you can borrow funds for trading with leverage;

P2P exchange. Local market transactions. It offers low commissions, flexible payment methods, the best prices for trading, and privacy protection. Trading with zero commission;

– Exchange tokens. Trading stocks using cryptocurrency. It is an exchange innovation, so the set of tools is small here.

In addition to the wallet number in your account, you can also find all the information on orders, including spot, margin, P2P, dual-currency charges. To place orders, you need to select the type you are interested in and customize it for your filters.

binance review advanced trading terminal

binance

⚛️ Binance Ecosystem
? Designed for Professionals
? Crypto Loans & Cards
✅ 2500+ Cryptos & NFTs

Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

There is an essential component of the broker’s ecosystem here – the Binance Futures derivatives platform. On it, you can trade perpetual contracts for many cryptocurrencies using leverage up to 125x. But this Binance review won’t be complete without mentioning risks that are associated with high leverage trading and we strongly urge our readers not to use high leverage if they don’t understand the risks. 

Contracts are divided into two categories: USDM and COIN-M.

The first category (USD-M) is standard futures, secured and settled in the USDT stablecoin.

The second (COIN-M) – is calculated and secured in altcoin and bitcoin.

Binance Coin Exchange Token

As we previously noted in the Binance review, the Binance exchange issued its internal token – Binance Coin (BNB) as part of the IPO.

The BNB token is used to power the Binance ecosystem. This coin operates on the Binance Chain blockchain, which can use for a variety of purposes:

  • “Fuel” for transactions in the Blockchain;
  • Payment of trading commissions on the Binance cryptocurrency exchange;
  • Payments in stores (Pundi X, Crypto.com, Monetha);
  • Travel payments (TravelbyBit, Trip);
  • Purchase of entertainment (Gifto, Decentraland, Loom Network);
  • Purchase of services in applications (DENT, BitTorrent, Storm);
  • Loans and investments (Moeda, LNDR).

You can store BNB using many popular wallets – Exodus, Coinomi, MathWallet, Enjin Wallet, Ledger Wallet, and the official development of Binance – Trust Wallet and Binance Chain Wallet.

BNB is burned at regular intervals – that is, Binance regularly reduces its amount in circulation using a particular smart contract, which includes the burning function. It repeats every quarter and will repeat until 50% of the total token supply is destroyed, which is 100,000,000 BNB.

Binance Coin (BNB) token is also used to reduce trading fees, participation in IEO, Launchpool, increase partner remuneration, etc.

For example, the trading commission on the spot market is 0.1% of the transaction, and when buying a BNB token – 0.075%. Therefore, to enable the option to pay fees using an internal token, you need to go to the user’s “Dashboard” and activate the discount by purchasing Binance Coin in advance.

According to Binance management, there are at least 112 use cases for BNB and 72 use cases for BUSD, a stablecoin denominated in US dollars and also launched on the exchange;

How to buy cryptocurrency on Binance? Step-by-step instructions.

It is not for nothing that Binance occupies top positions in the ranking of crypto exchanges because there are several ways to buy Bitcoin and other altcoins.

  1. Buy cryptocurrency with a bank card.

It can use fiats to replenish Binance: euros; dollar; lb; tenge, etc.

  1. Buy cryptocurrency through p2p Binance.

A peer-to-peer network implies that you make an exchange with another member of the system directly.

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For security purposes, escrow is involved here. Although Binance is not directly involved in the transfer, it monitors its progress. Only after the user confirms the receipt of fiat the cryptocurrency is sent to him from the other side.

To purchase cryptocurrency, you need to pass KYC verification and activate the payment path in the account options. In your Binance account, you can link up to twenty payment methods (even one type, for example, several bank cards). Subsequently, this will help you quickly use the desired method when purchasing.

The purchase is carried out in the section on the Binance website. In the beginning, you can use filters, in the same way, to filter out unnecessary offers and leave only relevant ones.

Steps to follow when buying cryptocurrencies on Binance

– Select an ad with the desired conditions and click the “Buy” button. Specify the order volume and payment method. Click Buy again.

Use the ad’s description and instructions to transfer the amount in fiat currency using the required details. Having done this, click on the button confirming the submission.

Now it remains to wait for the seller to confirm receipt of the money, and after that, the cryptocurrency will instantly be credited to your account.

Since 2019, you can buy a cryptocurrency for fiat with a verified account using bank cards. From 2020, you can buy cryptocurrency on Binance using your Wallet in the Payeer payment system.

It is also possible to buy cryptocurrency on other crypto exchanges (for example, on Coinbase, EXMO, Kraken, Bitfinex, FTX, CEX.io or online brokers such as Forex.com, eToro, Plus500 or AvaTrade), which have a possibility fiat input or output (dollars, euros, etc.); or in cryptocurrency exchangers, and then to transfer the crypto coins to the balance of the Binance exchange and trade.

How to sell cryptocurrency on Binance? Step-by-step instructions

A client can sell 0.01-5 bitcoins on Binance P2P (or the equivalent in another cryptocurrency). But before the sale, you will first need to transfer funds from the spot wallet to p2p. This function is located under Wallet> p2p wallet. Click “Transfer” next to the required currency and indicate the desired amount.

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Then go to the Sell section. There are filters at the top – indicate which fiat currency you want to sell the crypt, what payment methods you are interested in, and the number of coins sold. All this will help leave only those that fit these criteria in the list of proposals.

Select the ad that suits you and click the Sell button. Enter the number of coins payment method. Click Sell again. In the transaction, you can communicate with your counterparty via chat.

Wait for the buyer to transfer fiat to the details you specified. When you are sure that the money has arrived in the Wallet in the required amount, click the “Transfer cryptocurrency” button. Then the coins will go to the buyer and complete the transaction.

How to Make Deposit on Binance

Previously, Binance accepted deposits exclusively in cryptocurrencies, denying credit cards as a method of depositing funds. Based on this, new crypto investors were not able to trade here. However, on January 31, 2019, the exchange announced the possibility of making deposits with credit cards under certain circumstances.

The Binance exchange has joined forces with a payment company from Israel – Simplex. It allowed Binance users to buy Bitcoin, Ethereum, Litecoin and Ripple using Visa or MasterCard credit cards. However, this deposit method is not available for countries included in the sanctions lists (such as Iraq, North Korea, Syria, Afghanistan, Libya), as well as for residents of any of the following six US states New York, Connecticut, Washington, New Mexico, Georgia and Hawaii.

Simplex charges a 3.5% commission for each trade. Therefore, if you want to buy bitcoin for $ 10,000, Simplex will charge you a commission of $ 350 (plus a minimum flat fee of $ 10).

For two years now, Binance has been allowing you to attach a Visa card directly to your account and buy cryptocurrency from a card instantly from the Binance platform (without the need to use Simplex and pay a 3.5% commission).

At the moment, this applies only to VISA cards issued in the EEA and only to cardholders in the following countries: Great Britain, Netherlands, Denmark, Germany, France, Poland, Sweden, Austria, Belgium, Italy, Spain, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Estonia, Finland, Greece, Hungary, Ireland, Portugal, Lithuania, Latvia, Malta, Luxembourg, Romania, Slovakia, Slovenia, Iceland, Liechtenstein and Norway.

Binance Review: Trading Tokenized Shares

Binance cryptocurrency exchange has launched trading in tokenized shares. These are digital assets similar to the claims of various large companies usually sold on stock exchanges. Now Binance users can change cryptocurrencies and traditional stock instruments within the same account. For example, CM-Equity AG (Germany) shares back all presented tokens. 

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Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Why do users trade tokenized shares on Binance?

Stock tokens are a new convenient tool for traders with the following advantages:

  • Liquidity. Binance is the world’s largest crypto exchange by trading volume;
  • Flexibility. While it can buy only a whole share on the stock exchanges, even part of it is not a problem on Binance;
  • Access to the opportunities offered by the traditional stock market. Holders of tokens are entitled to dividends or other methods of making a profit from capital;
  • Access to crypto financial services, from liquidity pool loans to savings products.

Here’s what Binance CEO Zhao said about Changpeng “CZ” tokenized shares:

Binance serves a vast number of people around the world, and we are thrilled to be able to help them become part of the stock market. Tokenized shares show how easy it is to democratize the transfer of value and reduce entry barriers and various frictions while not compromising compliance with regulatory requirements or customer safety. By combining traditional markets with cryptocurrencies, we are building a technological bridge that brings us closer to an inclusive financial future. ” – There is nothing to add. 

Binance Referral Program 

The Binance cryptocurrency exchange has a referral program that allows you to receive up to 40% of the trading commissions of invited users. In addition, the inviter can also encourage the invitee. Calculation rules:

  • If the referrer’s average daily BNB balance is less than 500 BNB, then his referral interest rate is 20%, and he can provide referrals with 0, 5 or 10% at the time of writing this Binance review; 
  • If the referrer’s average daily BNB balance is more than 500 BNB, then his referral interest rate is 40%, and he can provide referrals with 0, 5, 10, 15 or 20%.

All affiliate commissions are calculated in real-time and are credited to your Binance account every hour. Referral rates are settled at 0:00 UTC every day and updated at 1:00 UTC.

Today, referral charges are made for the spot and futures markets. So it doubles your capital if the invited friend trades on these sites.

In the “Referral program” section, you can choose any link from the list provided. 

The referral must register using the desired referral link or scanning the QR code to take advantage of the listed benefits. For example, if the registration on the binance.com website was carried out using the old identification code, there will be no rollback from the referrer.

The Binance referral program could be a great way for active traders to make some additional money from inviting their friends and family into the crypto trading world!

Binance Mobile App Review 

There is a Binance exchange app for Android and iOS. It weighs 61 MB and contains almost all the basic functionality for trading and a reference base. Thus, you can trade anywhere and anytime. The application works quickly, and indicators are updated in real-time.

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There are also convenient and powerful versions of the trading terminal for Windows, Linux, or macOS computers. The application for Windows “weighs” 80 MB and does not differ from the site in terms of functionality.

Binance Review: Automated Trading Robots 

In our Binance Review, we cannot fail to mention automated advisors on the exchange. It can facilitate trading on Binance by using crypto trading bots. It is one of the ways to control trading operations, in some cases, allows you to work more efficiently and quickly. But not all bots have sufficient functionality to provide quality control. Most popular cryptocurrency trading robots and platforms that work correctly with Binance include (it is essential for Binance review readers):

  1. Bitcoin Revolution is a bot that works 24/7 with all popular trading platforms, including the Binance exchange. It offers a wide range of settings. It does not store user funds, and they remain on exchange accounts.

Revenuebot provides detailed statistics on orders, earnings, referrals, work cycles; and the ability to analyze the effectiveness of the settings;

  1. Bitcoin Code is a popular trading bot that works with many platforms. It is a web service; therefore, it operates 24/7 and can be controlled from any device. Allows you to set stop loss, take profit, and copy the strategy of successful traders. There is a function for managing a crypto portfolio – you can create, analyze, test, study other people’s portfolios and choose the most effective ones;
  2. Haasbot Online is an around-the-clock service that allows you to connect notifications to Telegram. You can communicate with other participants using online chat. You can work from any device. In making transactions using the bot, you can mine CTG tokens using the Trade-to-mine model. Haasbot partners with Binance on the Binance Broker.

 Binance Review: The BINANCE ECOSYSTEM.

Our Binance review won’t be complete if we talk about the Binance ecosystem. Today, Binance is not just a cryptocurrency exchange; and it is a real empire of services and products of the crypto industry (it is essential for Binance Review readers): 

  • Markets: spot, margin, futures, options;
  • The platform for launching Binance Launchpad tokens – serves to create an initial exchange offering (IEO) to attract investments in user projects;
  • Own blockchain network Binance Chain with parallel operating Binance Smart Chain network;
  • P2P platform and OTC (buying/selling cryptocurrencies directly without intermediaries);
  • Decentralized exchange Binance DEX;
  • Binance Labs Incubator for Blockchain Projects – a social impact fund whose main task is to empower entrepreneurs and develop projects using Blockchain or cryptocurrencies;
  • Binance Pool mining pool;
  • The research division of Binance Research – is engaged in the research and analysis of products, as well as ideas of like-minded people;
  • The most extensive database of cryptocurrency rates CoinMarketCap;
  • Own crypto wallet Trust Wallet – the official multicurrency (supports different cryptocurrencies) wallet Binance;
  • Binance Pay and Binance Card payment solutions;
  • Education in the field of blockchain and cryptocurrency Binance Academy. Academy is a Wiki for studying Blockchain technology and products on its platform. The division is engaged in training novice users of terminology, many articles on security measures are presented, there are tips for operating the technology, tests for Blockchain knowledge;
  • Binance Charity Blockchain Charitable Foundation (BCF) – a fundraising funds for people in need, providing medical care, including in third world countries;
  • Education Library – description, reviews of various projects based on Blockchain technology.
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Risk Warning
The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Binance Review: Trading Commissions  

Binance is rich in a variety of fees. It can view them in the list of company services. The trading commission is charged depending on which account is active and what transactions you carry out.

There are such types of commissions on the Binance platform as (it is essential for Binance Review readers):

  1. Spot market commission rate. The volume of trade determines the level for 30 days. There are more trading, the lower the commission for immediate orders and those that fall into the order book. The range ranges from 0.0200% to 0.1000%. Discounts and cashback apply;
  2. The interest rate on loans. The commission depends on the level and daily interest rate on the loans. Range – from 0.016000% to 0.500000%;
  3. Trading commission for USD-M futures. It depends on the level and volume of trading for 30 days. The range is 0.0000% to 0.0400%. Discount applies;
  4. Trading commission for COIN-M futures. The level and volume of trade per month are taken into account. The range is from 0.0500% to –0.0090%
  5. Commission for deposit and withdrawal of funds. Depositing money to the Wallet is free. The withdrawal is subject to a commission, but some transactions are free, depending on the withdrawal token. The minimum withdrawal amount is also important here. The commission range is from 0 to 2,096,857;
  6. The interest rate on cross-collateral. Indicators such as the coin of the loan, the daily interest rate, the grace period and the loan limit are essential here. For all these criteria, the indicators are different.

In addition to withdrawing funds, you also receive commission bonuses:

  • spot market commission rate – 25% Off;
  • trading commission for USD-M futures – 10% Off.

The rate on the Binance crypto exchange must be floating. It means that the rate for each cryptocurrency is calculated separately for now. For more information on the speed of the cryptocurrency you are interested in, you can follow the link

Pros and Cons of Binance Trading Platform

A relatively young company has already taken a leading position in the global financial market. And all thanks to the conditions for trade. There is a wide variety of platforms, instruments and trading conditions here. So the exchange will appeal to different clients. At the same time, of course, she’s not perfect.

They summarise in Binance review the features, tools, and opportunities provided to customers and the pros and cons they face daily in their work with the exchange. Finally, we will try to answer the question: What advantages make Binance the best deal globally, and what points need improvement.

? Binance: Advantages

  • Exchange No. 1 in the world in terms of trade turnover;
  • Blockchain network with a decentralized platform; 
  • High liquidity for the leading cryptocurrency pairs;
  • International focus: support for more than 20 languages, branches in different countries, access to the site in the native language;
  • High operational efficiency of the platform: processing 1.4 million transactions per second;
  • Support for fiat currencies;
  • Basic, classic and advanced trading on the classic spot market;
  • Derivatives: USDT futures, Coin futures, leveraged tokens;
  • Margin trading and leverage up to 125x;
  • OTC transactions in the OTC market;
  • P2P trading: user/user (C2C) or business/user (B2C) models, as well as an improved trading interface;
  • Low trading commissions: from 0.1% and below;
  • 25% discount on commission for holders of internal BNB coins: from 0.075% and below;
  • Multilevel VIP trading program: from VIP 0 to VIP 9; 
  • 2 operating modes of the trading terminal: Classic for beginners and Advanced for advanced users;
  • 4 types of orders: market, limit, stop limit and OCO;
  • Additional features: API, DEX, affiliate program, earnings on deposits, staking, crypto loans, money pool, etc.
  • Binance Visa Card for cryptocurrency payments in 60+ million points around the world;
  • Mobile application for iOS and Android;
  • Fiat gateway provided. You can buy cryptocurrency in different ways, for example, using a Visa or MasterCard, bank account, e-wallets, P2P platform; 
  • In addition to the spot market, you can trade in the margin, futures on the local market;
  • Possibility of additional earnings on a landing page or cryptocurrency staking;
  • Credit available;
  • Airbag – the commission from the profit received is deducted to the fund, which will cover your possible losses;
  • A bonus of $ 10 for each user who registers on the exchange and trades more than 0.1 BTC or another cryptocurrency;
  • High level of security of funds: two-factor authentication, anti-phishing code and others;
  • Binance Academy: learning the basics of Blockchain;
  • Financing practical social projects;
  • 24/7 technical support;
  • Good reputation on the network and the authority of the team;
  • Access to information about the leadership; 
  • Promising cryptocurrencies tokens;
  • Bonuses, contests, promotions for traders, regular draws and airdrops. These are available on the Binance website under the Support Center under the Announcements tab.

? Disadvantages:

  • The need for verification to withdraw the earned funds. Such authentication necessarily requires identity documents their confirmation. It is a little cumbersome and time-consuming;
  • Sometimes, the site slows down due to a large number of clients.

We think that for any Binance review reader, the above advantages will play a decisive role in deciding to take the first steps in trading on the Binance exchange; and, subsequently, become active users of it. We wish you good luck with this!

Binance Review: Is Binance Safe?

The best thing about the security and reliability of the Binance exchange, and we should focus on this in our Binance review, says its complex architecture. CCSS and ISO / ICO 27001: 2013 security protocols are used. Anti-phishing protection is offered, it is possible to configure a safelist of addresses for display.

Another popular security method is protecting your account with two-factor authentication. It is recommended to go through two-factor authentication to eliminate the possibility that someone will use your account.

Two-factor authentication is connected using SMS code, Google Authentication, security key. For it, go to the “Security” tab and select the most convenient connection method.

Binance supports authentication through Google, which is convenient and secure. To use it, you must first download the app for Android or iOS. After installing it on your smartphone, you will need to scan the QR code from the screen and get a backup key. After connecting, Google Authenticator will connect to its use for carrying out various operations becomes mandatory.

Two-factor authorization on Binance is an additional measure of your security; in fact, entering the exchange website by two or more factors – confirmation via Google Authy and then by email. If third parties receive a login and password from your profile on the Binance crypto exchange, they will not be able to use the funds available there or perform any actions. Additionally, it is recommended to use a separate email address and phone number for registration, further enhancing security.

It is recommended for you to enable one of the 2FA methods: Google Authenticator, SMS, IP, Anti-Phishing Code to protect your Wallet.

Binance Review  Score-  

One can only wonder how the Binance exchange entered the top 5 awards in just a year! We must pay tribute to the programmers who did a great job creating such a popular platform and the communication and development departments who made an almost ideal ecosystem and are developing further.

The popularity of the Binance exchange is due to many factors – a wide selection of assets for trading, versatility, and active communication between the team and users. And one of the critical factors is the site’s flexibility and the team’s interest in new trends in cryptocurrencies. So if there is any promising new direction, be it DeFi or NFT, you can be sure that it will be on Binance the next day. In addition, this exchange is a powerful launching pad for new projects that can distribute tokens here using IEO or Launchpool, thereby attracting a potential client audience at the start.

Binance has offered favourable trading conditions from the very beginning: loyal commission policy and an impressive set of trading tools. Binance’s rapid success was also helped by a competent advertising campaign, a great referral system, and thoughtful actions to conquer the market.

The Binance development team develops business in different directions, strives to improve its platform and the entire blockchain industry, and launches effective products that contribute to the emergence of new projects in the industry and the popularization of cryptocurrencies in general.

To conclude our Binance review, here are some numbers that show how far the Binance platform has come:

  • Offers 218 tokens and 616 trading pairs on the spot exchange;
  • Supports 40 tokens and 87 trading pairs for isolated margin mode, as well as 29 tokens and 65 trading pairs for cross-margin mode;
  • Since the launch of futures on the exchange, it has offered 32 perpetual contracts plus two quarterly futures contracts;
  • The network of connections with Binancians reached more than 2,454,000 connections in Binance groups and pages on Twitter, Telegram, Facebook, Instagram and YouTube.

Also, the project team added support for trading against fiat, acquired the WazirX exchange, thereby making an entry into the lucrative Indian market, opened up the possibility of p2p trading using cryptocurrency and fiat currencies. In addition, Binance entered the cryptocurrency mining industry by launching its mining pool.

Thus, from design to “stuffing”, Binance sets trends for the entire cryptocurrency market, and other sites follow them.

While there are some downsides to Binance, it is the leading cryptocurrency trading platform today.

We are sure that those who have carefully read our Binance review will agree that the Binance crypto exchange is genuinely the best bitcoin exchange.

Of course, it is impossible to reflect in the framework of only one Binance review the complete picture of the multifaceted activities of such a global structure as the crypto giant Binance. Therefore, in future publications, we will try to introduce you in more detail to various tools and aspects of the functioning of the exchange and the Binance infrastructure in general. At the same time, we will also try to significantly expand the range of elements, capabilities and services of the Binance ecosystem. Unfortunately, we could not fully familiarize you with this Binance review for natural reasons.

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