binance review
0
Rated 0 out of 5
0 out of 5 stars (based on 0 reviews)
Excellent0%
Very good0%
Average0%
Poor0%
Terrible0%

Binance

Binance, a crypto exchange platform, allow users to buy, sell or hold cryptocurrencies. The platform welcomes users from everywhere and receives favourable reviews from users around the globe.
0
Coins Available
0
Payment Methods
0
Minimum Trade
0
Accepted Countries

As a global crypto exchange, Binance is available to all users around the world. The platform has a majority of positive reviews from its existing users. Moreover, the exchange has also partnered with 3rd party providers like Simplex, enabling credit cards and wire transfers for a premium in cryptocurrency markets.

  • Interactive learn and earn programs
  • Low minimum deposit
  • Industry-best fee structure
  • 60+ cryptocurrencies available
  • Attractive sign-up bonuses and rewards
  • Intuitive and User-friendly Interface
  • Allow users to earn through learning programs
  • Low minimum deposits
  • 24/7 customer care support
  • Competitive fee structure
  • Advanced Trading platforms
  • Wide platform selection could be confusing for beginners
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Stellar (XLM)
  • Helium (HNT)
  • Tether (USDT)
  • PAX Gold (PAXG)
  • Harmony (ONE)
  • Orchid (OXT)
  • Binance Coin (BNB)
  • Bank transfer
  • Wire transfer
  • Credit card
  • Debit card
  • ACH
  • In-person cash payment
  • Exchange Bitcoins for altcoins
Exchange Details Info
Crypto conversion N/A
Account minimum $10
ACH transfer Free
Wire transfer $15 per transaction for US customers
Buy/Sell Crypto 0.1%/0.5%
Credit/Debit cards 4.5%
Wallet Not Available

 

Binance is a global crypto exchange offering services in over 180+ countries. The exchange is renowned for offering access to crypto-to-crypto trading. Besides this, the exchange offers additional features like low minimum deposit, easy usability, various coins to trade with, and an intuitive mobile trading platform.

Moreover, the exchange has a separate platform for US citizens: Binane. The US. However, the platform is not available in Hawaii or in New Mexico.

The Binance.US provides easy buying or selling options as well as more advanced trading platforms. It has low fees and offers further discounts for using Binance Coin. Besides providing educational information, it also offers an online blog, specifically for beginners. So, let’s know about this crypto exchange more with our detailed Binance Review.

Binance Review

Binance is a global cryptocurrency exchange that is the largest exchange for trading cryptocurrency. It was founded in 2017 and is registered in the Cayman Islands. Binance was established by Changpeng Zhao, an engineer who has already developed trading applications for high-frequency traders.

The platform is renowned for offering competitive and low trading fees. It aims to offer the best crypto trading services to users. Furthermore, the platform has its own crypto token: Binance Coin, which is traded with the BNB symbol.

The platform currently allows traders to trade in 60+ cryptocurrencies and many crypto trade pairs. Additionally, the exchange strives to provide industry-best security to its users through its advanced web-based platforms. The platform offer services in all major countries, including the UK, Germany, and Spain.

On the other hand, Binance offers some additional features that set it apart from other standard crypto exchange platforms. The features such as quick execution, OTC trading, P2P Merchant application, and Binance pay are the positive points of this trading platform. Overall, Binance is a good trading platform that offers the best security, range of assets, and accessibility.

Check out the Comparison between Binance and Coinswitch.

Pros and Cons:

Take a look at the pros and cons of using the Binance crypto exchange.

Pros

  • 25% discount on trading fees for using BNB
  • Rich educational content
  • 60+ cryptocurrencies available
  • Low Transaction fees
  • A wide range of payment methods is available
  • 24/7 customer support

Cons

  • Wide platform selection could be confusing for beginners

Is Binance A Scam or Legit?

Binance is a legit crypto exchange platform that has been operating efficiently since 2017. In addition, the exchange is facilitated with a security accreditation award which further adds to its legitimacy. Here are a few reasons supporting its’s legitimacy:

  • Regulated by UK’s Financial Conduct Authority (FCA).
  • Holds license to conduct exchanges across the world.
  • Abides by AML policy
  • Holds an ISO 27001 certification

Considering these points, it is clear that the crypto exchange platform is not a scam.

Security

Binance remains secure for users’ personal and financial data, and its ability to cover their losses is what makes Binance special. Here are some security measures the platform takes to offer a more secure trading environment:

  • Two-factor authentication
  • Address whitelisting
  • Users can limit device access
  • FDIC insurance on all US dollar balances
  • An expert team onboarded for regularly monitoring

Our Recommendation:

  • Crypto-to-crypto Trading Available
  • Industry-best Trading Fees
  • Professional Customer Support

Advantages

  • Intuitive and User-friendly Interface
  • Allow users to earn through learning programs
  • Low minimum deposits
  • 24/7 customer care support
  • Competitive fee structure
  • Advanced Trading platforms
  • Wide platform selection could be confusing for beginners

Disadvantages

Coins Available

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Stellar (XLM)
  • Helium (HNT)
  • Tether (USDT)
  • PAX Gold (PAXG)
  • Harmony (ONE)
  • Orchid (OXT)
  • Binance Coin (BNB)

Accepted Countries

  • Austria
  • Hungary
  • Greece
  • Germany
  • Bulgaria
  • Belgium
  • Ireland
  • Italy
  • Finland
  • Denmark
  • France

Payment Method

  • Bank transfer
  • Wire transfer
  • Credit card
  • Debit card
  • ACH
  • In-person cash payment
  • Exchange Bitcoins for altcoins

U.S. Client Acceptance

Yes

QUick Guidance

Exchange Details Info
Crypto conversion N/A
Account minimum $10
ACH transfer Free
Wire transfer $15 per transaction for US customers
Buy/Sell Crypto 0.1%/0.5%
Credit/Debit cards 4.5%
Wallet Not Available

 

Company Information

Exchange Details Info
Headquarters Country Cayman Islands
Foundation Year 2017
Type Crypto Exchange

How Many Cryptocurrencies Are Available on Binance?

Binance is a well-known name in the crypto industry for obvious reasons. The platform offers a long list of cryptocurrencies and crypto pairs to trade-in.

The exchange currently supports 60+ cryptocurrencies, the major ones of them are listed below:

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

How To Open An Account on Binance?

To trade cryptocurrencies on Binance, you’ll first need to open an account with the platform. The account opening process is quite straightforward and takes only a few hours to complete. Here’s a step-by-step guide to opening an account on the platform:

  • Firstly, visit the official webpage of Binance and click on the ‘start’ icon.
  • Now, register yourself by entering your phone number or email address.
  • Complete the verification process by entering details about your bank account, ID documentation, and self-photo. You’ll need to upload your identity documents.
  • Once the verification process completes, you can start buying or selling cryptos on the platform.

Available Platforms:

The exchange offer services through the three most intuitive yet powerful trading platforms: Web-based, ActiveTrader and Mobile application. Each platform has its own features and offers advanced trading tools. Lets’s discuss them in brief:

Web-based Platform

The platform is specially designed for newbies looking for a user-friendly interface. The platform doesn’t require any additional downloads; all you need is a web browser and a good internet connection.

Top Features

  • Instant market updates
  • One-click Access
  • Highly Secure
  • Access to multiple accounts

Active Trader Platform

The platform is best suited for seasoned traders. It offers advanced trading tools and additional features. Moreover, the fee on this platform is quite lower than the web-based version.

Top Features

  • Advanced Trading Charts
  • Low and Competitive Transaction Fees
  • Charting and trading tools
  • One-click trading option

Mobile Application

The mobile application is specially designed for traders who enjoy trading on the go. With Binance mobile app, you can trade cryptos from anywhere, anytime.

Top Features

  • Available on both Android and iOS
  • Advanced Trading and charting tools
  • User-friendly interface
  • One-click access to crypto markets
  • Real-time market updates

Fees, Deposits, and Withdrawals:

Trading fees

The trading fees on Binance are based on the monthly trading volume. Take a look at a fee structure:

Trade Volume (30 Days) Maker Fee Taker Fee
Less than 250 BTC 0.02% 0.04%
Upto 250 BTC 0.016% 0.04%
Upto 2500B BTC 0.014% 0.035%
Upto 7500 BTC 0.012% 0.032%
Upto 22500 BTC 0.010% 0.030%
Upto 50000 BTC 0.008% 0.027%
Upto 100000 BTC 0.006% 0.025%
Upto 200000 BTC 0.004% 0.022%
Upto 400000 BTC 0.002% 0.020%
Upto 750000 BTC 0.000% 0.017%

Deposit and withdrawals

The platform supports a long list of payment methods for depositing and withdrawing funds from the account. Here are some major payment methods supported by the exchange:

 

Method Minimum Withdrawal Deposit Fee Withdrawal Fee
Wire transfer $100 Zero $15 (Domestic), $35 (International)
ACH $1 Zero Zero
Debit card N/A 4.5% N/A

Customer Support:

The outdated customer support system of the platform is the major drawback of using the exchange. There is no phone or email support available on the platform. The platform only offers a help centre facility that is available on the official page.

The Final Verdict:

After going through this detailed Binance review, it is clear that Binance is a top-ranked platform for crypto trading because of its services and wide range of cryptocurrencies offered.

All the features such as a hassle-free account opening process, advanced trading platforms, low fee structure and a separate platform for the US customers are the positive points of this platform. However, the biggest drawback of this platform will remain its outdated customer support services.

The exchange has been operating since 2017 and has several positive reviews from existing users.

Yes, you can make money by trading cryptocurrencies on the platform.

Yes, the exchange takes strict security measures to provide a secure trading experience. Henceforth, it is safe to link a bank account to the platform.

Yes, it is possible to transfer funds from exchange to your bank account.

Yes, the platform accepts Paypal for payments.

Users can earn upto 35% APY on the Binance Earn.

Yes, the platform supports a variety of payment methods, including debit and credit cards.

Leave A Review

4/5

Crypto

1

Estd. Year

2013

Want To Know More About Crypto?

Fill This Form to know more about cryptocurrency Exchange.

"*" indicates required fields

Name*