Binance exchange is one of the leading trading platforms today.
Binance supports more than 150 cryptocurrencies to trade, deposit and withdraw in many countries.
Here below are Binance Exchange review you need to know before signing up to trade, deposit or buy any Bitcoin and Altcoin.
Binance exchange overview
The Binance exchange is an exchange founded in 2017 with a strong focus on altcoin trading. Binance has quickly grown to become of the most\ popular cryptocurrency exchanges, offering trading in more than 500 cryptocurrencies and virtual tokens (but only about one-tenth of that amount of names for U.S.-based customers) including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB).Read more: investopedia.com
Binance is own on the top of biggest Bitcoin and Altcoin crypto Exchange in the World by volume.
Binance was founded by Changpeng Zhao, commonly known as “CZ”, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved its headquarters out of China due to China’s increasing regulation of cryptocurrency.Read more: Wikipedia.org
As chiness government ban on crypto currency trading, then Binance exchange moved its servers and headquarters out of China. They are now in Taiwan.
Binance exchange allows users to exchange fiat for Bitcoin or other coins. The number of coins and altcoins available on the exchange is more than 150. Including major coins such as::
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Tether (USDT)
- Binance Coin (BNB)
- Tron (TRX)
- Nano (NANO)
Binance Tutorial For Beginners 2021
Step-by-step how to use binance to buy bitcoin and trade cryptocurrency! Source Collection Crypto
How to buy / sell Crypto on Binance exchange
A peer-to-peer trading service that connects sellers and buyers of cryptocurrencies.
This service facilitates a variety of payment options, depending on the preferences of the user.
Credit / debit card
This service of Binance exchange allows you to buy a variety of cryptocurrencies but comes with a premium that can be as high as 3.5% on USD purchases.
SEPA / Wire transfers
Binance exchange now allows users to buy crypto directly by bank transfer or SEPA transfer with fiat deposits like EURO, CAD & AUD.
But it is not available for USD deposit.
Binance Finance Services
Binance allows users to return idle capital through “flexible” or “locked” account types.
Flexible savings accounts offer variable interest rates, while locked savings accounts pay higher rates on fixed term deposits.
Binance’s staking service allows users to profit from proof-of-stake and decentralized finance (DeFi) coins without the need for technical knowledge to bet on their own.
Similar to savings accounts, staking services are available in flexible and locked options.
Binance Smart Pool
This service allows miners to contribute to a larger mining pool to split rewards.
Hash power is automatically redirected to the most profitable cryptocurrency for mining at any time.
Binance visa card
The Binance Visa Card allows users to use their cryptocurrencies in places that only accept fiat currency via credit or debit cards.
Your crypto holdings will be converted to fiat when you make a purchase (with zero fees), so you don’t have to hold fiat.
Binance offers loans to users in the form of BUSD and USDT, collateralized with BTC or ETH.
This provides an easy way for you to get stablecoins.
Also maintain your crypto holdings and avoid being taxed when selling cryptocurrencies.
Binance Liquid Swap
Binance Liquid Swap is an automated market creation (AMM) platform, similar to Uniswap.
Users can trade coins on Liquid swap with minimum slippage or provide their liquidity in return for a portion of fees.
Binance exchange Trading Platform
Trading on Binance is quite easy and user-friendly.
There is an impressive selection of cryptocurrencies available for trading in combination with Bitcoin, Ether, BNB, XRP and Tether trading pairs. Crypto/Fiat pairs are also available on Binance crypto market.
For spot trading, users can choose between three different interfaces, based on their level of experience.
The classic interface allows a quick view of the market and trading pairs, making it easier to switch pairs.
Advanced view provides users with access to advanced charting tools.
For those who are new to trading, there won’t be any difference between two interfaces that may seem overly complicated.
Inexperienced traders have a basic quick trade option that allows you to convert coins at market rates without the need for charts or order books.
Margin trading is available for selected trading pairs, allowing users to trade with up to 10x leverage on select coins.
Users can choose between cross margin, risking your entire margin account balance, and isolated margin, limiting your potential loss on a single trading pair.
Binance Futures, launched in 2019, allows traders to speculate on the price (instead of buying and selling) Bitcoin and various popular altcoins, including Bitcoin Cash, Ethereum, Litecoin, Ripple …
This platform allows trading up to 125x leverage, which means traders can multiply their profits (but also losses) by 125 – more than any other major platform.< /p>
Binance Futures balances are kept separate from users’ regular trading accounts and must be funded with Tether (USDT) as collateral.
All gains and losses will also be made in USDT.
The user interface of Binance Futures looks almost identical to the Binance spot trading interface, apart from some additional functions for controlling leverage and viewing open positions.
Binance also offers futures contracts collateralized using non-stablecoin cryptocurrencies such as Bitcoin or altcoins, in a separate tab called Coin Futures
Binance offers derivatives called Leveraged Tokens, which offer UP and DOWN contracts that bet on the price of certain cryptocurrencies.
These give buyers exposure to cryptocurrencies without the risk of liquidation.
Binance exchange fees
In the competitive global market, the fee structure of Binance exchange is far superior. The base fee for transactions on Binance is 0.1% for both buy and sell transactions.
Fees from 0.02% / 0.04% are applied to transactions using the futures platform.
For Binance internal coin (BNB), no deposit and withdrawal fees apply.
Withdrawal fees are updated regularly in relation to Blockchain transaction fees.
So, with the above reviews, Binance exchange is proving to be globally competitive, good service, low fees, easy to trade interface, convenient for new traders and experts alike. experience, speak many languages and operate in many countries…
Are you ready to sign up to trade on Binance?