Wide selection of crypto, but a concerning regulatory history.
Brian Nibley is a cryptocurrency and cryptocurrency investing expert who has been studying and writing about cryptocurrency since 2013.
In addition to his journalism, he has written white papers for bitcoin startups, and contributed to the Nicoya Research investment newsletters. He holds a BA in Communications Studies from California State University, Chico.
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Binance is the largest retail crypto exchange in the world and can be a reasonable choice for both beginner and advanced users alike. This exchange offers low trading fees, but it’s not available in the U.S. Binance has also encountered several regulatory issues, which could be concerning for prospective users.
Pros & Cons Key Takeaways Specifications.
Low trading fees.
Can be convenient for both beginner or advanced traders.
Limited customer support options.
Regulatory issues in several countries.
Binance is the largest retail crypto exchange in the world by daily trading volume. Binance offers low trading fees and features that will appeal to both novice and advanced traders. Customer support could be an issue, binance qr-kode scanning as the only option users have is to submit a ticket via email. Binance’s U.S. partner company, Binance.US offers fewer features and a limited selection of cryptocurrencies.
Year Founded 2017 Official Website Binance.com Cryptocurrencies Available 400+ Customer Support Email ticket only.
Introduction.binance cryptocurrency exchange
is one of the world's largest crypto exchanges by daily trading volume. Offering hundreds of cryptocurrencies, multiple charting tools, and low trading fees, this platform could be a fit for both beginners and advanced crypto traders.
However, Binance receives mostly negative customer feedback, and it's not available in the U.S. While this exchange isn't accessible in the United States, its partner company Binance.us is open to U.S.-based users.
Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by The Balance or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
Binance.com is a global crypto exchange that’s available in over 180 countries. It was founded in 2017 by Changpeng Zhao, otherwise known simply as CZ. Before launching the Binance exchange, CZ introduced an initial coin offering (ICO) for Binance Coin (BNB), which would become the world’s premier exchange token. BNB debuted on June 24, 2017, after raising $15 million, with the Binance exchange opening 11 days later. Today, BNB is the third-largest cryptocurrency by market cap.
Initially launched in China, Binance moved its operations to Japan after China banned crypto trading. Today, its holding company is located in the Cayman Islands, and Binance indicates it’s planning to establish headquarters in a few different countries, including Ireland.
Cryptocurrencies That Trade on Binance.
Binance supports numerous fiat-to-crypto, crypto-to-crypto, and stablecoin-to-crypto trading pairs. At the time of writing, the top five most popular coins to trade on Binance were:
Binance Coin (BNB) Terra (LUNA) Cardano (ADA) Bitcoin (BTC) Ethereum (ETH)
In addition, Binance offers over 400 different cryptocurrencies, including:
Dogecoin (DOGE) Solana (SOL) 0x (ZRX) The Graph (GRT) Enjin (ENJ) Ravencoin (RVN) Chainlink (LINK) Vechain (VET)
The exchange also supports several trading pair options, binance близо до протокол including:
USD-to-crypto pairs Crypto-to-crypto pairs Stablecoin-to-crypto pairs.
For example, Bitcoin is one cryptocurrency, but it can be traded as BTC/USD (Bitcoin and dollars) or BTC/USDT or BTC/BUSD (Bitcoin and the Tether or Binance USD stablecoins).
Similarly, there are crypto-to-crypto trading pairs for many of the smaller market cap coins against a handful of the larger market cap ones. For instance, Bitcoin (BTC), Cardano (ADA), Bitcoin Cash (BCH), Binance Coin (BNB), Ethereum (ETH), Chainlink (LINK), Litecoin (LTC), Uniswap (UNI), VeChain (VET), and Tezos (XTZ) all have trading pairs against other cryptos.
The "Buy Crypto" tab in the upper-left corner of the site is where users can go to exchange dollars for crypto in the simplest manner possible. Simply select "buy," "sell," or "convert," enter the currencies and amounts, and execute the order.
Using this method, orders are executed at the current market price, and the coins would be deposited into the user’s wallet. This option would be best for beginners and is similar to how many beginner-oriented exchanges work, like Coinbase.
Binance also offers three other trading views, which can be found under the "trading" tab. Trading on Binance can look and feel different depending on the view chosen. Users can choose between one of three different views:
Convert/OTC Classic Advanced.
When a user clicks Convert/OTC, they will see a basic form to choose from market or limit orders. There's a slightly different view depending on the order type you select. For market orders, you’ll enter the currencies you’d like to trade. For limit orders, you’ll also be required to enter a max price and a timeframe. Note that there is a $10,000 minimum for OTC trading on Binance.
In the Classic view, a user will see candlestick charts in the middle of the screen and the order books for the selected market on the left. The right-hand side is where you choose a trading pair, and toward the bottom-center is where trades are placed.
The Advanced view provides everything possible and somewhat resembles a professional-oriented exchange platform like Coinbase Pro. This option could be confusing for newer traders.
Binance offers very low fees overall. Deposits are generally free and fees for trades of all kinds are much lower than most competitors. However, users who opt to purchase crypto with a credit or debit card will incur a 3.5% or $10 fee, whichever is higher.
Payment Method Binance Fee Bank Account Free USD Wallet Free Debit/Credit card 3.5% or $10 (whichever is higher) ACH Transfer Free Wire Transfer Free Trades 0.1% - 0.015% (for OTC trades, fees come in the form of a spread) Withdrawals Varies depending on the asset - free for fiat currencies.
Although Binance has low fees overall, fees can still add up for those placing lots of trades. And don’t forget withdrawal fees – sending crypto off the exchange comes with a price.
One notable feature binance cryptocurrency exchange
offers is fee discounts for using Binance Coin (BNB) to pay trading fees. The fees are deducted from their BNB balance at a discounted rate of 25% less than normal trading fees.
For traders who hold BNB and trade less than 1,000,000 BUSD worth of volume each month (which would be most retail traders), fees will be 0.075% for both maker and taker trades. Those not holding BNB will be charged 0.1%. Traders with higher volume enjoy reduced rates according to nine different VIP levels, with the lowest level being charged just 0.015% for maker trades and 0.03% for taker trades.
Security.binance cryptocurrency exchange
is considered to be a relatively secure place to buy, deposit, and trade crypto. The exchange has a good reputation in terms of platform security and hacks rarely occur.binance juzi
users can enable two-factor authentication (2FA) to help protect their accounts.
The exchange offers several options for 2FA, including:
Security key Authenticator app SMS text Email.