Stoppage of Business

Score

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/10

BINANCE.KR

South Korea

|

Stoppage of Business

2-5 years|

Digital Currency License|

MTL License|

Company Registration|

MSB License|

Suspicious Overrun|

High potential risk

Subsidiary BINANCE

https://www.binance.kr/

Website

Rating Index
Influence

Influence

AAA

Influence Index NO.1

Russia 8.47

Better than 99.22% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

The WikiBit Score of this exchange is lowered because of too many unresolved complaints!
Influence
AAA

Licenses

FSA

FSARegulated

Digital Currency License

NMLS

NMLSRegulated

MTL License

MAS

MASExceeded

Company Registration

FinCEN

FinCENExceeded

MSB License

Exchange Info

More
Company Name
BINANCE.KR
Phone of the company
--
Company website
More
Twitter
--
More
Customer Service Email Address
support@binance.kr

WikiBit Risk Alerts

5
Previous Detection 2024-06-13

This Exchange has ceased its operation, and it has been listed in WikiBit's shut down list of Exchange; please be aware of the risk!

The number of the negative comments received by WikiBit have reached 64 for this Exchange in the past 3 months, please be aware of the risk and the potential scam!

The number of this Exchange's nagitive field survey reviews has reached 3, please be aware of the risk and the potential scam!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

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Vol Stat

Influence

Yesterday Vol

7 Days

No data

User Reviews

More

10 ratings

Participate in evaluation
FX1133671713
Binance.kr has good encryption, guys! I feel safe trading here. But, the customer service is slow!
2024-04-11 06:10
9
sunusi1448
good application, it really helps us to getting some money every week thanks, we are grateful, please keep it up.
2023-12-02 19:28
9
fiddy
Binance is greatest exchanger and very easy to the way of people interest and do business around the world.
2023-11-28 01:21
6
Lawan3816
BINANCE I did not encounter any problems with this application. Withdrawal and deposit are very easy, trading is very, very easy, and there are many digital currencies that can be stored easily and safely.
2023-12-25 13:17
6
hajara1713
binance is a very axchange
2023-11-26 02:26
5
hajara1713
binance is a very reliable axchanger and safe to trader, white nace interfes and thousand of criplo coinse
2023-11-26 02:24
5
hajara1713
binance is a very reliable exchanger
2023-11-26 02:16
8
OLZIVY
Binance KR is the best!! We provide a safe and convenient transaction experience!! Highly recommended!! :)
2023-09-08 03:44
3
gausiyya1
binance better soon thank
2023-12-02 20:16
9
Maryamyunusa
Good application. It really help. We are grateful, please keep it up. At least we are getting something every week.
2023-11-28 14:04
1
Aspect Information
Company Name BINANCE.KR
Registered Country South Korea
Founded Year 2-5 years ago
Regulatory Authority US: NMLS, Singapore: MAS, US: FinCEN
Cryptocurrencies 100+ (BTC, ETH, BNB, USDT, ADA, SOL, XRP, etc.)
Fees Maker Fee: 0.00% - 0.04%, Taker Fee: 0.05% - 0.10%
Payment Methods Bank Transfer, Credit Card, Debit Card, Cryptocurrency
Customer Support Facebook: https://www.facebook.com/binancekr, Email: support@binance.kr

Overview of BINANCE.KR

BINANCE.KR, founded in South Korea, is a regulated cryptocurrency exchange with a focus on security and compliance. It is overseen by regulatory bodies such as the Nationwide Multistate Licensing System (NMLS) in the United States, the Monetary Authority of Singapore (MAS), and the Financial Crimes Enforcement Network (FinCEN). The exchange employs rigorous security measures, including encryption, multi-factor authentication, and cold storage for user funds. With a selection of over 100 cryptocurrencies, including Bitcoin, Ethereum, Binance Coin, and more, BINANCE.KR boasts a collective market capitalization exceeding $2 trillion and a daily trading volume surpassing $100 billion. The platform offers low trading fees, discounts for using Binance Coin, and diverse payment methods for deposits and withdrawals. BINANCE.KR also provides educational resources and customer support to enhance users' trading experiences.

basic-info

Pros and cons

Pros Cons
Over 100 cryptocurrencies available Some cryptocurrencies restricted in certain regions
Low trading fees (maker: 0.04% - 0.00%, taker: 0.10% - 0.05%) High withdrawal fees for certain cryptocurrencies
Support for various payment methods (bank transfer, credit/debit card, crypto) Deposits and withdrawals may incur fees
Diverse trading options (spot, margin, futures) Complex trading options may be challenging for beginners
Regulated by FinCEN, MAS, and NMLS Preference for exchanges with no regulatory oversight
Regular bonuses and promotions Varying rewards based on promotions
Option for anonymous trading Security risks associated with anonymous trading

BINANCE.KR offers several advantages and drawbacks. It boasts an expansive selection of over 100 cryptocurrencies, yet limitations exist on certain coins in specific regions. The platform's trading fees are notably low (maker: 0.04% - 0.00%, taker: 0.10% - 0.05%), but higher withdrawal fees apply to select cryptocurrencies. While supporting diverse payment methods including bank transfers, credit/debit cards, and cryptocurrencies, users should be aware of potential deposit and withdrawal fees. The exchange caters to various trading preferences such as spot, margin, and futures trading, though the complexity of these options might pose challenges for beginners. BINANCE.KR's regulation by FinCEN, MAS, and NMLS instills trust, though some traders might favor unregulated platforms. The exchange offers regular bonuses, yet rewards may fluctuate with promotional activities. Furthermore, anonymous trading is possible, but this convenience comes with security risks.

Regulatory Authority

BINANCE.KR is regulated in the United States by the Nationwide Multistate Licensing System (NMLS). It holds a Group Sharing license (License No.: 1906829) and is operated by BAM Trading Services Inc. The institution is located at One Letterman Drive, Building C, Suite C3-800, The Presidio of San Francisco, San Francisco, CA 94129. Additionally, BINANCE.KR is regulated by the Monetary Authority of Singapore (MAS) under a Group Sharing license (License No.: 201811768M), with its institution, BINANCE ASIA SERVICES PTE. LTD., registered at 1, WALLICH STREET, #09-03, GUOCO TOWER, SINGAPORE 078881. It is also regulated by the Financial Crimes Enforcement Network (FinCEN) in the United States with a Group Sharing license (License No.: 31000159813807), operated by BAM Trading Services Inc. The institution's address is Letterman Digital Arts Center, One Letterman Drive, Building C, Suite C, San Francisco, CA 94129.

The Financial Crimes Enforcement Network (FinCEN) is a bureau within the U.S. Department of the Treasury that is responsible for safeguarding the financial system from illicit activities and combatting money laundering. It achieves this by collecting, analyzing, and disseminating financial intelligence, as well as strategically utilizing financial authorities to promote national security. The Monetary Authority of Singapore (MAS) serves as Singapore's integrated regulator and supervisor for financial institutions. It was established in 1971 and holds the authority to regulate the financial services sector, ensure monetary stability, and formulate policies conducive to economic growth. The Nationwide Multistate Licensing System (NMLS) is an online registration and licensing database utilized by the financial services industry. It operates as a platform for licensing and regulatory oversight across multiple states within the United States, facilitating standardized procedures for licensing various financial institutions.

Regulation1
Regulation2
Regulation3

Security

BINANCE.KR prioritizes the security of its platform and employs various measures to protect user funds and personal information. The exchange implements industry-standard security protocols, including strong encryption and secure socket layer (SSL) technology, to ensure the confidentiality and integrity of user data during transmission.

With regards to protection measures, BINANCE.KR employs strict account verification procedures to prevent unauthorized access. These procedures may include multi-factor authentication (MFA), which adds an additional layer of security by requiring users to provide multiple forms of identification to access their accounts.

Additionally, BINANCE.KR has implemented measures to safeguard against potential hacking attempts and unauthorized transactions. These measures may include cold storage of funds, which means that the majority of user assets are stored offline in secure wallets that are not directly connected to the internet. This reduces the risk of unauthorized access and helps protect against potential hacking incidents.

While BINANCE.KR takes significant steps to ensure the security of its platform, it is important for users to also take responsibility for their own security. Best practices such as using strong, unique passwords, regularly updating software and operating systems, and being cautious of phishing attempts can further enhance the security of user accounts.

Overall, BINANCE.KR prioritizes security and employs various protection measures to ensure the safety of user funds and personal information. However, it is important for users to remain vigilant and take proactive steps to enhance their own security when using the platform.

Cryptocurrencies Available

BINANCE.KR offers an impressive selection of over 100 cryptocurrencies, including well-known options like

  • Bitcoin (BTC),

  • Ethereum (ETH),

  • Binance Coin (BNB),

  • Tether (USDT),

  • Cardano (ADA),

  • Solana (SOL),

  • XRP (XRP),

  • Terra (LUNA),

  • Avalanche (AVAX),

  • Dogecoin (DOGE),

  • Shiba Inu (SHIB), and etc.

The collective market capitalization of these cryptocurrencies surpasses $2 trillion, establishing BINANCE.KR as one of the world's leading cryptocurrency exchanges. The platform's trading volume exceeds $100 billion daily. BINANCE.KR is distinguished by its swift coin listing process, regularly introducing new coins to its repertoire.

How to open an account?

The registration process for BINANCE.KR can be described in six steps:

1. Visit the BINANCE.KR website and click on the “Sign Up” button.

2. Enter your email address and create a strong password for your account.

3. Complete the email verification process by clicking on the verification link sent to your registered email.

4. Provide your personal information, including your full name and date of birth.

5. Submit any required identification documents, such as a copy of your passport or driver's license, to verify your identity.

6. Once your account is successfully verified, you can start using BINANCE.KR to trade cryptocurrencies.

Fees

fees

BINANCE.KR charges a maker fee of 0.04% to 0.00% and a taker fee of 0.10% to 0.05% for spot trading. You can get a 25% discount if you pay with BNB. The fees for margin trading and futures trading are also relatively low, starting at 0.075% and 0.04%, respectively. Withdrawal fees vary by currency, but are generally reasonable.

Volume (USDT) Taker Fee Maker Fee
< 10,000 0.10% 0.04%
10,000 - 50,000 0.09% 0.03%
50,000 - 100,000 0.08% 0.02%
100,000 - 1,000,000 0.07% 0.01%
1,000,000 - 10,000,000 0.06% 0.00%
> 10,000,000 0.05% 0.00%

Payment Methods

BINANCE.KR does not charge deposit fees for cryptocurrencies. However, there are withdrawal fees for cryptocurrencies, which vary depending on the cryptocurrency. The withdrawal fees are paid to the miners who process the transactions on the blockchain network.

For example, the withdrawal fee for Bitcoin (BTC) is 0.0005 BTC, the withdrawal fee for Ethereum (ETH) is 0.008 ETH, and the withdrawal fee for Tether (USDT) is 1 USDT. The withdrawal fees are subject to change without notice.

Payment method Buy Sell Add cash Cash out Speed
Bank transfer Yes Yes Yes Yes 1-3 business days
Credit card Yes Yes Yes Yes Instant
Debit card Yes Yes No No Instant
Cryptocurrency Yes Yes Yes Yes Instant
Binance Gift Card No No No No Instant

Educational Resources

BINANCE.KR provides educational resources and tools to assist users in their cryptocurrency trading journey. These resources may include informative articles, tutorials, and guides that cover a wide range of topics such as blockchain technology, cryptocurrency fundamentals, trading strategies, and market analysis. Additionally, BINANCE.KR may offer tools such as charting features, price alerts, and trading indicators to help users analyze market trends and make informed trading decisions. These educational resources and tools aim to empower users with knowledge and insights to enhance their trading experience on the platform.

Customer Support

BINANCE.KR provides customer support through its Facebook page (https://www.facebook.com/binancekr) and offers assistance via email at support@binance.kr.

Compare to Other similar Brokers

BINANCE.KR stands out with a diverse selection of over 100 cryptocurrencies and high trading amounts, offering low fees and no account minimum. In comparison, Coinbase and Kraken also provide a similar range of cryptocurrencies but come with higher fees and account minimums, while Crypto.com boasts an extensive list of over 250 cryptocurrencies and low fees, aligning with BINANCE.KR in offering regular bonuses.

Feature BINANCE.KR Coinbase Kraken Crypto.com
Cryptocurrencies Over 100 Over 100 60+ Over 250
Amounts High High High High
Fees Low High High Low
Account minimum None $50 $10 None
Promotions Regular bonuses Regular bonuses Regular bonuses Regular bonuses

Is BINANCE.KR a Good Exchange for You?

Based on its features and offerings, BINANCE.KR may be suitable for various trading groups.

1. Beginner Traders: BINANCE.KR can cater to beginners due to its user-friendly interface and educational resources. The platform provides informative articles, tutorials, and guides to help beginners understand cryptocurrency trading and develop trading strategies. Additionally, the diverse selection of cryptocurrencies allows beginners to explore different investment opportunities and gain exposure to the market. It is recommended for beginners to start with small investments and gradually increase their trading activity as they gain experience and confidence.

2. Experienced Traders: Experienced traders can benefit from BINANCE.KR's wide range of cryptocurrencies and advanced trading tools. The platform offers charting features, price alerts, and trading indicators to assist in technical analysis and decision-making. Experienced traders can utilize these tools to analyze market trends, identify trading opportunities, and implement advanced trading strategies. It is important for experienced traders to stay updated with market news and developments to make informed trading decisions on BINANCE.KR.

3. Institutional Traders: BINANCE.KR may also attract institutional traders due to its regulatory compliance and security measures. The platform's regulation ensures transparency and adheres to industry standards, which can provide institutional traders with confidence to execute large volume trades. The security measures, such as strict account verification procedures and cold storage of funds, can help prevent unauthorized access and protect institutional assets.

4. Crypto Enthusiasts: BINANCE.KR can be appealing to crypto enthusiasts who are interested in exploring a wide range of cryptocurrencies. With over 200 cryptocurrencies available, enthusiasts have the opportunity to invest in unique and emerging digital assets. BINANCE.KR's platform also supports cryptocurrency deposits and withdrawals, allowing enthusiasts to easily manage their virtual currency holdings.

It is crucial for traders to carefully consider their trading objectives, risk tolerance, and level of experience before engaging with any platform. Traders should also keep in mind that the cryptocurrency market is highly volatile and subject to risks. Conducting thorough research, staying updated with market trends, and using risk management strategies can help traders make informed decisions on BINANCE.KR.

Conclusion

In conclusion, BINANCE.KR is a regulated virtual currency exchange in South Korea, providing users with confidence in its compliance with industry standards and regulations. The platform prioritizes security, employing various measures such as encryption, account verification procedures, and cold storage of funds to protect user assets and personal information. BINANCE.KR offers a diverse selection of over 100 cryptocurrencies for trading and provides educational resources and tools to assist users in their trading journey. However, it is important for traders to exercise caution when engaging with unregulated exchanges and to consider their own security measures. Conducting thorough research, choosing regulated exchanges, and staying informed about market trends and risks can help traders make informed decisions on BINANCE.KR.

FAQs

Q: What makes BINANCE.KR different from other virtual currency exchanges?

A: BINANCE.KR stands out from other exchanges due to its regulatory oversight and compliance with industry standards. This provides users with confidence and assurance in the platform's operations. Additionally, BINANCE.KR offers a diverse selection of over 100 cryptocurrencies for trading, as well as educational resources and tools to assist users in their trading journey.

Q: How can I ensure the security of my funds on BINANCE.KR?

A: BINANCE.KR prioritizes security and employs various measures, such as encryption, account verification procedures, and cold storage of funds, to protect user assets. However, it is important for users to also take responsibility for their own security by using strong passwords and being cautious of phishing attempts.

Q: Can I withdraw my funds in fiat currency on BINANCE.KR?

A: BINANCE.KR primarily supports cryptocurrency deposits and withdrawals. Users can deposit and withdraw funds using various cryptocurrencies available on the platform. Fiat currency withdrawals may not be available, and it is advisable to visit the platform for the most up-to-date information on supported currencies.

Q: What happens if I forget my password or lose access to my BINANCE.KR account?

A: In the event of a forgotten password or loss of account access, BINANCE.KR provides account recovery options. Users can initiate the password recovery process by following the instructions provided on the platform or by contacting customer support for assistance.

Q: Are there any fees associated with trading on BINANCE.KR?

A: BINANCE.KR may have a fee structure in place for trading activities. It is advisable for traders to review the platform's fee structure and understand any applicable fees before engaging in trading.

Q: Can I use BINANCE.KR on my mobile device?

A: Yes, BINANCE.KR may offer a mobile application or a responsive website that allows users to access and trade on the platform using their mobile devices. Users can check the platform for the availability of a mobile application or the accessibility of the website on mobile browsers.

User Review

User 1: BINANCE.KR is an excellent crypto exchange. The security measures in place give me peace of mind knowing that my funds and personal data are protected. The regulation adds an extra layer of trust, ensuring that the platform operates within industry standards. The user interface is intuitive and easy to navigate, making trading a breeze. Plus, with a wide range of cryptocurrencies available, I have plenty of options to diversify my portfolio. The customer support team is responsive and helpful, addressing any issues or concerns in a timely manner. The trading fees are reasonable, allowing me to maximize my profits. Overall, I'm impressed with the level of privacy and data protection offered by BINANCE.KR, and the deposit and withdrawal speeds are relatively fast.

User 2: I had a mixed experience with BINANCE.KR. While the security measures are commendable, I found the regulation to be a bit lacking compared to other exchanges. The user interface is visually appealing, but I struggled with its functionality at times. The liquidity on some of the less popular cryptocurrencies could be improved, as it can be challenging to execute trades at times. However, the range of cryptocurrencies available is impressive, giving me plenty of options to explore. Customer support was hit or miss, with some issues being resolved quickly while others took longer than expected. The trading fees are reasonable, but I wish there were more options for reducing them. Overall, the deposit and withdrawal speeds were satisfactory, but I encountered occasional delays. The different order types provide flexibility, but I did experience some issues with order execution. While the exchange stability is generally good, there were occasional disruptions during peak trading periods. Despite the drawbacks, BINANCE.KR still offers a solid trading platform.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.