BINANCE CRYPTOCURRENCY EXCHANGES

Binance  is a

leading cryptocurrency exchange for cryptocurrency traders and enthusiasts looking to buy and sell a wide variety of cryptocurrencies at low fees. Led by its charismatic leader Changpeng Zhao, its defining features are innovation and new features, proactive community, ability to buy bitcoin and altcoins with more than 40 fiat currencies, their own Binance

Chain and Binance

coin

(BNB), Binance

Futures and margin

trading with up to 125x leverage, and vision to morph into a decentralized autonomous organization (DAO) in the coming future. While its platform is capable of handling a large volume of trades without suffering a significant slowdown in transaction times, it does experience its fair share of issues from time to time, including unexpected maintenances and security vulnerabilities. Despite that, it remains one of the most important exchanges in the cryptoverse.

Binance 's core

features include:

Trade over 180 cryptocurrencies on Binance

. Binance

is one of the

major altcoin exchanges with one of the best selection of tradable

assets.

Binance  Fiat

Gateway. Binance

lets you instant

buy bitcoin and other 15 top cryptocurrencies with 40 popular fiat currencies using bank cards, cash balance, and other payment methods. Besides, you can sell them for some of the supported national

currencies, too.

Low trading fees. Trading on Binance

brings you some of

the lowest in the industry. Multi-platform support. Binance

is accessible via

its web platform, mobile apps for Android (including Android APK) and iOS, and desktop clients for macOS and Windows. Besides, you can make

use of Binance

API.

Binance  Futures

with up to 125x leverage and margin trading with up to 3x leverage. Trade cryptocurrency contracts and assets with leveraged positions for

maximum returns.

Around the clock customer support. Binance

has a dedicated

help center, where you can reach out to the support team or real beginner guides and explanations of all sorts of exchange functions. Binance  Launchpad. All customers of Binance

can participate in

its initial exchange offerings (IEOs). Binance

's IEOs are among

the most profitable in the industry.

Binance

Finance. Binance

also supports

staking, crypto lending, and other means of earning passive income from your crypto assets.

In brief, Binance

is one of the most

innovative cryptocurrency exchanges in the market. Binance

developers and

global community members continuously work to improve the ecosystem and popularize the use of cryptocurrencies globally. The exchange is a great trading option for both beginners as well as experienced

traders.

Background

Binance  is one of

the newest, yet best-known major crypto exchanges around. It's been started with a simple idea in mind - provide a simple, intuitive, fast, and robust cryptocurrency trading interface.

Background

Binance  is one of

the newest, yet best-known major crypto exchanges around. It's been started with a simple idea in mind - provide a simple, intuitive, fast, and robust cryptocurrency trading interface.

Binance  exchange

review

Binance  Ecosystem.

Source: Binance

.com

Today, the exchange has over 15 million users and settles more than USD 2 billion on an average trading day. Besides, it has evolved a suite of related products, including:

Binance  Jersey. A

European fiat-to-crypto cryptocurrency exchange that facilitates bitcoin (BTC), ethereum (ETH), litecoin (LTC), Binance

coin (BNB), and

bitcoin cash (BCH) trades for euros (EUR) and pound sterlings (GBP).

Binance  US and

other localized versions of Binance

exchange.

Regulated versions of Binance

exchange dedicated

to certain markets with varying regulatory climates.

Binance

DEX. Binance

's decentralized

exchange built on the Binance

Chain.

Binance

JEX. Binance

's cryptocurrency

futures and options trading platform.

Binance

Futures. Binance

's crypto-derivative platform that lets you trade futures with up to 125x leverage.

Binance

Launchpad. Binance

's crypto

crowdfunding platform for launching top-tier initial exchange offerings (IEOs). Binance 's launchpad was the first one in the industry and the exchange has popularized the

concept.

Binance  P2P

trading. A peer-to-peer crypto trading platform like LocalBitcoins or LocalCryptos that supports payments via WeChat, AliPay, Bank Transfers, and QIWI.

Binance  Crypto

Loans. A feature that allows you to take out crypto loans secured by your cryptocurrency assets.

Binance

OTC.Over-the-counter trading desk for whales and other large-volume traders.

Binance  Savings.

Ability to employ your crypto assets by lending them out to earn interest. You can withdraw your funds anytime.

Binance

Staking. Binance

staking feature

lets you stake certain cryptocurrencies and reap up to 16% annual yield. Supported cryptocurrencies include Ark, EOS, ARPA, TROY, Lisk, LOOM, Tezos, KAVA, THETA, and more.

Binance  Fiat

Gateway. A fiat gateway that lets you purchase cryptocurrencies using your national currency (currently supports nearly 40 fiat currencies.)

Binance  Chain

and Binance  Coin

(BNB). Community-driven blockchain ecosystem with its own native token (BNB) and decentralized exchange (DEX). Binance  USD (BUSD)

and Binance  GBP

stablecoin. Binance

's regulated

stablecoins, released in partnership with Paxos Trust Company.

Binance  Academy.

An open-access learning hub for blockchain and crypto education

resources.

Binance  Charity. A not-for-profit foundation dedicated to advancing blockchain philanthropy and sustainable global development.

Binance  Info. An

open-source crypto encyclopedia.

Binance

Labs. Binance

's infrastructure

impact fund and initiative to empower blockchain projects.

Binance  Research.

Institutional-grade research platform conducting analysis for investors in the crypto space. Trust Wallet. An official, secure, and decentralized wallet

of Binance .

Binance  Cloud.

Enterprise cryptocurrency exchange solutions for cryptocurrency

ventures.

Binance  Card. A

crypto payment card that can be used as a payment option for everyday purchases just like a regular bank card. In 2019 and 2020, Binance

made headlines for

going on an acquisition streak and acquiring India's largest cryptocurrency exchange WazirX, Chinese dapp analytics platform DappReview, and the most popular cryptocurrency market data aggregator platform CoinMarketCap.

REGISTARTION

BINANCE REVIEW FEES

BINANCE FUTURES TRADING FEES. SOURCE: BINANCE.COM ANOTHER KEY FACTOR TO LOOK AT WHEN EVALUATING BINANCE'S FEES IS FUTURES FUNDING RATE AND MARGIN POSITION DAILY INTEREST RATE. THESE TEND TO CHANGE BASED ON MARKET CONDITIONS, AND THERE ARE NO FIXED RATES, SO BE SURE TO CHECK THEM REGULARLY AT BINANCE'S WEBSITE HERE

AND HERE.

BINANCE REVIEW MARGIN BORROW RATES BINANCE'S MARGIN INTEREST BORROW RATES. SOURCE: BINANCE.COM LAST BUT NOT LEAST, THERE ARE DEPOSIT AND WITHDRAWAL FEES. CRYPTOCURRENCY DEPOSITS FREE FOR ALL 180+ COINS SUPPORTED BY BINANCE. WITH WITHDRAWALS, BINANCE OFFERS REMARKABLY GOOD VALUE FOR MONEY, ALTHOUGH FEES VARY FROM CRYPTOCURRENCY TO CRYPTOCURRENCY. A SMALL SAMPLE OF THE FEES FOR SOME OF THE MORE POPULAR COINS IS SHOWN BELOW: AS YOU CAN SEE, BINANCE LETS ITS USERS WITHDRAW EITHER REGULAR OR BEP2 VERSIONS OF THEIR ASSETS. BEP2 WITHDRAWALS ARE BASED ON BINANCE CHAIN AND USE NOT AN ACTUAL CRYPTO ASSET, BUT A PEGGED

BEP2 VERSION OF IT.

TO PUT THESE FEES IN SOME PERSPECTIVE, KRAKEN AND BITTREX BOTH CHARGE A 0.0005 BTC WITHDRAWAL FEE, WHILE BITFINEX AND HITBTC CHARGE 0.0004 BTC AND 0.001 BTC RESPECTIVELY. ALTHOUGH BINANCE DOES NOT HAVE ANY FIAT-TO-CRYPTO TRADING PAIRS, IT DOES FACILITATE FIAT-TO-CRYPTO PURCHASES USING THIRD-PARTY SERVICE PROVIDERS AND INTEGRATIONS. USING BINANCE FIAT GATEWAY, YOU CAN BUY AND SELL CRYPTO WITH OVER 40 FIAT CURRENCIES. THE FEES VARY BASED ON THE PAYMENT METHOD AND FLOATING EXCHANGE RATES DETERMINED BY SIMPLEX, KOINAL, TRUSTTOKEN, BANXA, IDEAL, SEPA, PAXOS, AND OTHER PAYMENT

PROCESSORS.

TYPICALLY, FIAT GATEWAY FEES VARY FROM 1% TO 7% BASED ON THE CHOSEN PAYMENT METHOD AND PROCESSOR. BANK CARD TRANSACTIONS TEND TO COST MORE COMPARED WITH OTHER PAYMENT OPTIONS.

BINANCE SECURITY

SECURITY AT BINANCE IS GENERALLY SOUND, ALTHOUGH THE EXCHANGE HAS EXPERIENCED A SIGNIFICANT HACK IN MAY OF 2019. THE EXCHANGE LOST OVER 7000 BTC DUE TO A NUMBER OF COMPROMISED USER ACCOUNTS AND USED ITS #SAFU FUND (SECURE ASSET FUND FOR USERS) FOR USER COMPENSATIONS. SINCE THEN, THE EXCHANGE HAS STRENGTHENED ITS SECURITY BY INTRODUCING THE UNIVERSAL 2ND FACTOR (U2F) AUTHENTICATION METHOD AND ENHANCING ITS EXCHANGE MONITORING CAPABILITIES. BESIDES, BINANCE ENCOURAGES USERS TO ENABLE TWO-FACTOR AUTHENTICATION (2FA) USING EITHER GOOGLE AUTHENTICATOR OR SMS AUTHENTICATION. ALSO, TRADERS HAVE AN OPTION TO WHITELIST ADDRESSES AND SET UP AN ANTI-PHISHING CODE. IT ALSO HAS A FAIRLY EXTENSIVE SECURITY FAQ IN ITS SUPPORT SECTION, WHERE IT ADVISES ITS USERS ON HOW TO GUARD AGAINST PHISHING ATTEMPTS AND PERSONAL SECURITY LAPSES. EVERY WITHDRAWAL FROM BINANCE MUST BE CONFIRMED BY EMAIL. AS OF 2021, BINANCE BOASTS OF HAVING STATE-OF-THE-ART ARTIFICIAL INTELLIGENCE (AI) RISK CONTROL SOLUTIONS THAT USE IDENTITY AND FACIAL RECOGNITION, BIG DATA ANALYTICS, AND CYBER FORENSIC INVESTIGATIONS TO MONITOR EACH MOVEMENT THAT TAKES PLACE ON THE EXCHANGE AND IDENTIFIES SUSPICIOUS AND IRREGULAR ACTIVITIES. THAT SAID, RECENT EVENTS HAVE SHOWN THAT BINANCE CAN RESPOND QUICKLY TO SIGNIFICANT THREATS AND PROTECT CUSTOMERS' FUNDS. FOR EXAMPLE, IN MARCH 2018, CRIMINALS MANAGED TO USE PHISHING TO HACK INTO THE ACCOUNTS OF NUMEROUS USERS, WHOSE FUNDS WERE INEXPLICABLY SOLD OFF IN ORDER TO PURCHASE THE VIACOIN (VIA) CRYPTOCURRENCY. HOWEVER, DESPITE THIS, BINANCE WAS ABLE TO SYSTEMATICALLY IDENTIFY AND REVERSE ALL IRREGULAR TRADES, MEANING THAT THE ONLY PEOPLE TO LOSE MONEY WERE THE

HACKERS.

IN JULY 2018, BINANCE HAS STARTED A SECURE ASSET FUND FOR USERS (SAFU) AND ALLOCATES 10% OF ALL TRADING FEE REVENUE THERE. IN THE CASE OF A SUCCESSFUL HACK, IT IS USED TO COVER USER LOSSES LIKE IT WAS DONE IN THE MAY 2019 SECURITY BREACH. LATER IN 2019, THE EXCHANGE ALSO HAD A KYC DATA LEAK, WHICH HACKERS HAVE ALLEGEDLY OBTAINED FROM A 3RD

PARTY VENDOR.

ACCORDING TO CRYPTOCOMPARE EXCHANGE BENCHMARK Q4 2019 REPORT, BINANCE IS A SOLID A GRADE EXCHANGE. IT MAKES IT IN THE TOP 20 EXCHANGES IN TERMS OF SECURITY GRADE, TOO, SCORING AN ABOVE-AVERAGE 11.5 OUT OF 20 POSSIBLE POINTS. ALL IN ALL, BINANCE IS A SECURE EXCHANGE, BUT SECURITY IS NOT ITS HALLMARK, AND THERE IS SOME ROOM FOR IMPROVEMENTS.

START TRADING

WHO SHOULD USE BINANCE? YOU MIGHT HAVE NOTICED FROM THE BUYING PART OF OUR BINANCE REVIEW THAT THERE ARE TWO OPTIONS TO CHOOSE FROM - BASIC AND ADVANCED. THIS IS WHAT MAKES BINANCE SUCH A POPULAR EXCHANGE -- IT IS GREAT FOR BOTH BEGINNERS AND ADVANCED USERS. IN THE TRADING GUIDE ABOVE, WE SHOWED YOU HOW TO USE THE BASIC FUNCTIONS. HOWEVER, ONCE YOU BECOME A TRADING PRO, THERE ARE SOME EXTRA FEATURES AVAILABLE IN THE ADVANCED SECTION!

BINANCE ADVANCED

IF YOU ARE A MORE EXPERIENCED TRADER, THE ADVANCED OPTIONS ALLOW YOU TO VIEW MORE DETAILED STATISTICS. FOR EXAMPLE, IF YOU WERE INTERESTED IN THE PRICE MOVEMENTS BETWEEN BITCOIN AND ETHEREUM, THERE ARE MORE ADVANCED GRAPHS YOU CAN VIEW. CANDLESTICK BARS ALLOW YOU TO VIEW THE OPENING, HIGHEST, LOWEST, AND CLOSING PRICE OF A CRYPTOCURRENCY OVER A SPECIFIC TIME PERIOD. JUST REMEMBER, IF YOU ARE JUST GETTING STARTED WITH CRYPTOCURRENCY TRADING, IT IS PROBABLY BEST THAT YOU USE THE BASIC OPTION UNTIL YOU FEEL MORE COMFORTABLE!

CONCLUSIONS

IF YOU HAVE READ OUR BINANCE REVIEW FROM START TO FINISH, YOU SHOULD NOW BE ABLE TO DECIDE IF IT IS THE RIGHT EXCHANGE FOR YOU. THERE ARE MANY ADVANTAGES TO USING BINANCE, HOWEVER, THERE ARE ALSO SOME DISADVANTAGES TO CONSIDER -- SUCH AS NOT BEING ABLE TO DEPOSIT WITH A DEBIT OR CREDIT CARD. WHETHER YOU DECIDE TO USE THE PLATFORM OR NOT, AT LEAST NOW YOU KNOW HOW TO USE BINANCE, AND YOU SHOULD EASILY BE ABLE TO DEPOSIT, TRADE

AND WITHDRAW FUNDS!

IN MY OPINION, BINANCE IS ONE OF THE BEST CRYPTOCURRENCY EXCHANGES OUT THERE FOR TRADING BETWEEN DIFFERENT CRYPTOCURRENCIES. IT OFFERS A GREAT, EASY-TO-USE INTERFACE THAT CATERS TO ALL TYPES OF TRADERS. NOT ONLY THAT, BUT IT'S A PLATFORM YOU CAN TRUST. SO, WHAT DO YOU THINK ABOUT THE LAYOUT OF THE EXCHANGE? DOES BINANCE HAVE THE CRYPTOCURRENCY THAT YOU WANT TO BUY? LET US KNOW IF YOU ENJOYED OUR BINANCE EXCHANGE REVIEW! СRYPTOCURRENCY EXCHANGES BINANCE REGISTER -CASHBACK 10% СRYPTOCURRENCY EXCHANGES BINANCE REGISTER -CASHBACK 10%

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