Home - Exchange - BINANCE

Score

0.00 10
Regulatory 9.34
Business 8.37
Risk Manag 8.37
Influence index 9.64
Trading Environment Index 9.64

Licenses

NMLS

NMLSRegulated

MTL License

MAS

MASExceeded

Company Registration

FinCEN

FinCENExceeded

MSB License

Global blockchain
Regulatory Consulting APP

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App Store Download

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Google Play Download

Download on the

Android Download

BINANCE

99+

BINANCE Cayman Islands

5-10 years|
MTL License|
Company Registration|
MSB License|
Suspicious Overrun|
High potential risk
All Subsidiaries BINANCE.KR
WikiBit Risk Alerts4
Previous Detection 2023-12-09

The number of the negative comments received by WikiBit have reached 61 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 2, please be aware of the risk and the potential scam!

Company Registration goes beyond their business with the licenses Singapore MAS (license number: 201811768M), please be aware of the risk!

MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000159813807), please be aware of the risk!

Website
Genealogy
Social Media
Trade Type
Keywords
Time Machine
White Paper
Related Software
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New Arrival

Exchange assets

Update on 06:26:18

Total Asset:

$125,553,735,058.48 USD

BTC

25.93%

BNB

18.48%

USDT

15.75%

CTB/WBNB

8.99%

Others

30.85%

Token

Quantity

Price

Value

CTB/WBNB on BNB Chain

CTB/WBNB

0xbd61...b80774

1.6290396210959898e+25

$0 USD

$11.2849b USD

BTC on BTC Chain

BTC

34xp4v...4Twseo

248,597.40

$44,412.2932 USD

$11.0408b USD

BNB on BNB Chain

BNB

bnb1ed...g9ctxd

29,888,000.00

$328.0799 USD

$9.8057b USD

BTC on BTC Chain

BTC

39884E...MQaS3v

115,177.39

$44,412.2932 USD

$5.1153b USD

ETH on ETH Chain

ETH

0xbe0e...4d33e8

1,996,008.38

$2,365.7898 USD

$4.7221b USD

USDT on ETH Chain

USDT

0xf977...41acec

4,300,000,000.00

$1.0004 USD

$4.3017b USD

BNB on BNB Chain

BNB

bnb142...vz2cvg

17,185,720.59

$239.1796 USD

$4.1105b USD

USDT on TRX Chain

USDT

TMuA6Y...JireY9

3,999,333,221.58

$1.0004 USD

$4.0009b USD

USDT on TRX Chain

USDT

TWd4Wr...ns5jwb

3,909,201,303.48

$1.0004 USD

$3.9107b USD

BTC on BTC Chain

BTC

3JJmF6...NtY3EQ

127,351.06

$28,917.7255 USD

$3.6827b USD

Vol Stat

Influence

Prev Vol

7 Days

By company

BTC Bitcoin

$ 21.7539b

$ 21.7539b

31.61%

ETH Ethereum

$ 8.8085b

$ 8.8085b

12.8%

ORDI ORDI

$ 5.3499b

$ 5.3499b

7.77%

SOL Solana

$ 2.9249b

$ 2.9249b

4.25%

DOGE Dogecoin

$ 1.5968b

$ 1.5968b

2.32%

XRP XRP

$ 1.4639b

$ 1.4639b

2.12%

AVAX Avalanche

$ 1.3735b

$ 1.3735b

1.99%

MEME Memecoin

$ 1.1569b

$ 1.1569b

1.68%

BIGTIME Big Time

$ 1.053b

$ 1.053b

1.53%

LUNC Terra Classic

$ 819.215m

$ 819.215m

1.19%

TIA Celestia

$ 817.916m

$ 817.916m

1.18%

LINK Chainlink

$ 737.296m

$ 737.296m

1.07%

BNB BNB

$ 669.1m

$ 669.1m

0.97%

ETC Ethereum Classic

$ 615.926m

$ 615.926m

0.89%

BAKE BakeryToken

$ 599.316m

$ 599.316m

0.87%

Market Research

Delivery Index

Mkt. Analysis

Material

Ad Brand

Sources

Social Source

Referral PCT

Referrals

Language

BINANCE

Industry Median

Industry Average

Data Sources WikiResearch WiKi Research 2023.12.09 Update

User Reviews

More

1000+ ratings

Participate in evaluation
Halimaty
2023-12-03 16:31
it's not a user friendly app, they tend to make their features very complicated, this app is very difficult to use
it's not a user friendly app, they tend to make their features very complicated, this app is very difficult to use

...More

6
0
s1raul0
2023-11-24 08:15
it is not a user friendly app. they tend to make their features very complicated, thus the app is very hard to use. not for beginners.
it is not a user friendly app. they tend to make their features very complicated, thus the app is very hard to use. not for beginners.

...More

10
0
RxAliyu
2023-11-10 22:37
One positive aspect that users often appreciate about Binance is its user-friendly interface and a wide range of available cryptocurrencies for trading. Additionally, Binance offers various features, including advanced trading options, educational resources, and a mobile app for convenient trading on the go.
One positive aspect that users often appreciate about Binance is its user-friendly interface and a wide range of available cryptocurrencies for trading. Additionally, Binance offers various features, including advanced trading options, educational resources, and a mobile app for convenient trading on the go.

...More

11
1
蕃薯
2023-09-14 22:31
Binance’s review of cryptocurrencies is very lax. Since the beginning of August, 62,500 USDT has been defrauded, and they did not even help to get it back.
Binance’s review of cryptocurrencies is very lax. Since the beginning of August, 62,500 USDT has been defrauded, and they did not even help to get it back.

...More

19
5
Tallman
2023-08-21 19:04
in
in

...More

17
0
satuwarna
2023-08-21 14:49
too many fees and problems in this project recently
too many fees and problems in this project recently

...More

8
1
Henry Akin-Martins
2023-08-18 07:46
I am being duped by financial advisor Daina Belove and Jessica Raymond of Lexatrade trading company. My account is closed and have no way to lay my complaint to necessary authority as Diana Belove and Jessica Raymond has closed all means of communication with the support/customer service. I would kindly asked for assistance in communicating my request to the Lexatrade (Bitcoin) investment company to reopen my account which I registered with the name Henry Akin-Martins . I have been duped by Diana Belove of $9,000 as my returns of my investment in the Bitcoin stocks. Diana Belove seized communication with me and also closed my account and all means of communication with the support/customer services. I am appealing to you to kindly forward my request to the necessary authority at Lexatrade to reopen have used several email addresses and phone numbers all to no avail. I am therefore appealing to your institution to help forward this letter to the necessary authority at Lexatrade Bitcoin trading outlet to kindly reopen my account which has been blocked by Diana Belove and Jessica Raymond. .Thank you.
I am being duped by financial advisor Daina Belove and Jessica Raymond of Lexatrade trading company. My account is closed and have no way to lay my complaint to necessary authority as Diana Belove and Jessica Raymond has closed all means of communication with the support/customer service. I would kindly asked for assistance in communicating my request to the Lexatrade (Bitcoin) investment company to reopen my account which I registered with the name Henry Akin-Martins . I have been duped by Diana Belove of $9,000 as my returns of my investment in the Bitcoin stocks. Diana Belove seized communication with me and also closed my account and all means of communication with the support/customer services. I am appealing to you to kindly forward my request to the necessary authority at Lexatrade to reopen have used several email addresses and phone numbers all to no avail. I am therefore appealing to your institution to help forward this letter to the necessary authority at Lexatrade Bitcoin trading outlet to kindly reopen my account which has been blocked by Diana Belove and Jessica Raymond. .Thank you.

...More

7
2
Alexdon
2023-08-13 20:36
hi guys is nice beening here please can some one direct me how to use this app 🙏🙏🙏🙏
hi guys is nice beening here please can some one direct me how to use this app 🙏🙏🙏🙏

...More

10
1
bakhu
2023-07-18 10:43
I just woke up to find all the money in my wallet was moved to hash aid. What is hash aid? I don'tunderstand. Now, I can not withdraw but am being told to add funds in my account. How is that even possible?
I just woke up to find all the money in my wallet was moved to hash aid. What is hash aid? I don'tunderstand. Now, I can not withdraw but am being told to add funds in my account. How is that even possible?

...More

6
3
Docayisi
2023-07-16 20:17
I was instructed to pay for an event but immediately after I had deposited my money they changed the tune
I was instructed to pay for an event but immediately after I had deposited my money they changed the tune

...More

4
0
Aman1252
2023-07-13 14:54
It is not giving withdrawal since 26 june , Now they demanding to deposit 100 usdt to activate the account or they will block the account.
It is not giving withdrawal since 26 june , Now they demanding to deposit 100 usdt to activate the account or they will block the account.

...More

6
1
Gech
2023-07-05 01:09
it says no trading tips when withdrawal order is submitted, Please help me
it says no trading tips when withdrawal order is submitted, Please help me

...More

4
1
Bida104
2023-07-01 22:01
binance is the best
binance is the best

...More

5
1
lexo
2023-06-23 10:03
this is a scamming app took all my dollars within seconds
this is a scamming app took all my dollars within seconds

...More

3
0
better teo honvou
2023-05-24 09:05
not able to withdraw
not able to withdraw

...More

+3
2
0
BIT4170160520
2023-05-10 07:30
various companies I could not withdraw from. or they want R5500 to withdraw my money. witch trading company tell you to pay money to withdraw. and I found that they are actually traders on binance
various companies I could not withdraw from. or they want R5500 to withdraw my money. witch trading company tell you to pay money to withdraw. and I found that they are actually traders on binance

...More

+1
0
0
mahdi4235
2023-03-18 19:25
Scam and unable to withdraw
Scam and unable to withdraw

...More

0
0
ramin
2023-03-11 00:55
why Iranian people can't use this exchange?
why Iranian people can't use this exchange?

...More

1
1
BIT7088579702
2023-03-08 18:33
how can I withdraw I'm having problems on your platform
how can I withdraw I'm having problems on your platform

...More

0
0

view all comments

Founded 2017
Regulation NMLS, MAS/FinCEN (Exceeded)
Supported Cryptocurrencies 350+
Fees 0.012%-0.10%
Funding Methods Wallet, ACH transfer, Wire transfer, Cryptos
Customer Service 24/7 live chat, email, FAQs, Social media

BINANCE Overview

BINANCE is one of the world's largest and most popular cryptocurrency exchanges. Founded in 2017 by Changpeng Zhao, it has quickly gained prominence in the crypto space for its extensive range of digital assets and high trading volumes.

BINANCE Overview:BINANCE-home-page

BINANCE offers a user-friendly platform, advanced trading features, and a wide array of services, including spot trading, futures trading, staking, savings, and more, making it a preferred choice for both beginners and experienced traders in the cryptocurrency market.

Pros & Cons

√ Pros × Cons
• Numerous tradable cryptocurrencies • Exceeded MAS and FinCEN regulatory licenses
• Wide selection of trading options • Not available in the U.S.
• Low fees
• Multiple payments

Pros Revealed

• Numerous Tradable Cryptocurrencies

Binance offers 350+ cryptocurrencies available for trading, allowing users to access various altcoins and popular digital assets beyond Bitcoin and Ethereum.

• Wide Selection of Trading Options

Binance provides a diverse array of trading options, including spot trading, futures trading, options trading, margin trading, and more. This variety caters to traders with different strategies and risk appetites.

• Low Fees

Binance is known for its competitive fee structure, with low trading fees for both makers (0.012%-0.10%) and takers (0.024%-0.10%). This cost-effectiveness attracts traders who seek to optimize their profits while engaging in frequent trading activities.

• Multiple Payments

Binance supports multiple payment methods, such as wallets, debit cards, ACH transfers, and wire transfers, offering users flexibility and convenience in funding their accounts and participating in the cryptocurrency market.

Cons Revealed

Exceeded MAS and FinCEN Regulatory Licenses

Binance reportedly faced regulatory concerns related to its licenses with the Monetary Authority of Singapore (MAS) and the United States Financial Crimes Enforcement Network (FinCEN). Such concerns could potentially impact its ability to operate in certain jurisdictions and might raise questions about its compliance with regulatory standards.

Not Available in the U.S.

Binance has faced restrictions in the United States, with certain services and features not being available to U.S. residents due to regulatory complexities. This limitation may inconvenience American traders who are looking to access the full range of services offered by the exchange.

Regulatory Compliance

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources.

WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

As of August 2023, BINANCE reportedly holds a regulated MTL license from the United States Nationwide Multi-state Licensing System (NMLS, No. 1906829), an exceeded Monetary Authority of Singapore (MAS) license (No. 201811768M), and an exceeded MSB license from the United States Financial Crimes Enforcement Network (FinCEN, No. 31000159813807).

regulated-NMLS-license
exceeded-MAS-license
Exceeded-FinCEN-license

These licenses reflect BINANCE's compliance with regulatory requirements in different jurisdictions and underscore its commitment to operating within established legal frameworks.

Is BINANCE Safe?

BINANCE has implemented several security measures to enhance the safety of its platform and user funds.

Secure Asset Fund for Users (SAFU)

BINANCE stores 10% of all trading fees in a secure asset fund to protect a share of user funds in the event of a security breach or unexpected situations. It is designed to cover potential losses and ensure that users' assets remain secure.

Personalized Access Control

BINANCE provides various security features to help users protect their accounts, including two-factor authentication (2FA), email verification, and anti-phishing codes. These measures add an extra layer of security to prevent unauthorized access to accounts.

Advanced Data Encryption

BINANCE employs end-to-end encryption protocols to safeguard user data, ensuring that sensitive information remains protected from unauthorized access.

Advanced-Data-Encryption

While BINANCE has taken significant steps to enhance security and user protection, no exchange or platform is entirely immune to risks. Cryptocurrency trading inherently carries certain risks, and users should take additional precautions to safeguard their assets.

Some recommended practices include using strong passwords, enabling 2FA, being cautious of phishing attempts, and storing a significant portion of your funds in secure hardware wallets rather than on the exchange.

Trading Markets

Binance, recognized as one of the largest and most diverse cryptocurrency exchanges, provides several trading markets and methods to suit a wide range of trading needs and strategies. The platform includes:

  • Spot Market: Fundamental to Binance, this market is where traders can buy and sell cryptocurrencies instantaneously at current market prices. It features a comprehensive selection of cryptocurrencies and is equipped with advanced tools for detailed technical analysis and varied order types.

  • Margin Trading: This feature allows traders to borrow funds, enhancing their trading position and potential profits through leverage. While it can amplify gains, it also increases the risk of losses, making it more suitable for experienced traders.

  • Peer-to-Peer (P2P) Trading: Facilitating direct transactions between users, Binances P2P platform supports a multitude of payment methods, including bank transfers and over 800 other options. This method is particularly noted for its adaptability and the ability to engage in transactions using local currencies.

  • Convert & Block Trade: Designed for ease of use, this feature allows users to effortlessly convert one cryptocurrency to another. Block Trade caters to large-volume trades, reducing the impact of slippage.

  • Trading Bots: Binance offers automated trading strategies for more efficient trading. These bots can autonomously execute trades based on set criteria, appealing to both beginners and experienced traders looking for time-efficient trading solutions.

  • Copy Trading: This social trading aspect enables users to follow and replicate the strategies of some of the most successful traders on the platform. It's particularly beneficial for those new to trading or looking to diversify their trading approaches.

  • APIs (Application Programming Interfaces): For those interested in programmatic trading, Binance provides API keys. These APIs allow for the integration of external trading applications or the development of custom trading bots, offering a wide range of automated and advanced trading options.

Binance's comprehensive set of tools and markets, along with its high liquidity and vast cryptocurrency offerings, make it a favored platform among a broad spectrum of traders, from novices to seasoned professionals.

Trading Markets

Cryptocurrencies Available

BINANCE offers a vast selection of over 350 cryptocurrencies for trading on its exchange. It also supports a variety of fiat currencies, including USD, EUR, AUD, GBP, HKD, and INR, making it accessible to users from various regions.

Some of the notable cryptocurrencies available on BINANCE include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BINANCE Coin (BNB), BINANCE USD (BUSD), Cardano (ADA), Solana (SOL), Polygon (MATIC), Polkadot (DOT), SHIBA INU (SHIB), Ripple (XRP), USD Coin (USDC), Dogecoin (DOGE), TRON (TRX), Litecoin (LTC), and Bitcoin Cash (BCH), among many others.

Cryptocurrencies

Other Services

Binance, beyond its core trading functions, extends a variety of additional services catering to a wide array of users' needs in the digital asset space. These services encompass various aspects of the cryptocurrency ecosystem, enhancing the overall user experience on the platform:

  • VIP & Institutional Services: Tailored for VIPs and institutional clients, Binance offers dedicated services that include personalized trading support and exclusive features. This is designed for high-volume traders and organizations requiring a more customized trading experience.

  • Launchpad: Binance Launchpad serves as a platform for new and innovative token launches. It provides users with the opportunity to discover and gain early access to the latest tokens and crypto projects, often before they are available on the broader market.

  • Mining Pool: For those interested in cryptocurrency mining, Binance's Mining Pool enables miners to pool their resources and increase their chances of earning mining rewards. This service integrates seamlessly with the Binance ecosystem, offering an efficient mining solution.

  • Binance Pay: This feature allows users to send, receive, and spend their cryptocurrencies easily. Its designed to simplify crypto transactions, making them as straightforward as traditional digital payments.

  • Crypto Loans: Binance offers a loan service where users can obtain instant loans secured by their crypto assets. This service provides users with liquidity without needing to sell their holdings.

  • NFT Marketplace: Binances NFT platform showcases a diverse range of non-fungible tokens (NFTs) from creators worldwide. Users can buy, sell, or create NFTs, tapping into the burgeoning market of digital collectibles and art.

  • Fan Token: This service offers a new dimension to fandom, allowing users to engage with and support their favorite sports teams and clubs through blockchain-based fan tokens. These tokens often provide exclusive benefits and experiences.

  • Web3 Wallet: Binance's Web3 Wallet is a gateway to the next generation of the internet, offering a secure and user-friendly way to interact with decentralized applications (dApps) and Web3 platforms.

  • BNB Chain: Formerly known as Binance Smart Chain, this is a blockchain platform where users can build their own decentralized applications (dApps). It is recognized for its efficiency and scalability, making it a popular choice among developers.

  • Charity: Binance leverages blockchain technology for philanthropic purposes. The Binance Charity platform is designed to make charitable giving more transparent, efficient, and traceable, ensuring that aid reaches its intended recipients.

These additional services by Binance demonstrate its commitment to expanding the utility and accessibility of cryptocurrencies and blockchain technology, catering to both the general public and specialized sectors within the crypto ecosystem.

 Other Services

How to open an account?

To register for a personal account on the Binance App, begin by opening the app and selecting the “Sign Up” option. You have the choice of registering with your email address, phone number, or through your Apple or Google account. It's important to note that if you wish to create an entity account instead, you should opt for the 'Sign up' link next to 'Need an entity account?' Be mindful that once you register, you cannot change the account type. For entity accounts, refer to the detailed guide under the “Entity Account” tab.

For a personal account, choose either 'Email' or 'Phone Number' to sign up. Enter your email address or phone number and create a secure password for your account. Remember, your password should be robust, containing at least 8 characters, including one uppercase letter and one number. If you have a referral ID from a friend who recommended Binance, you can fill it in at this stage, although it's optional.

After agreeing to the Terms of Service and Privacy Policy, you will proceed to create your personal account. Subsequently, a 6-digit verification code will be sent to your chosen email or phone number. Make sure to enter this code within 30 minutes to verify your account by tapping 'Submit'.

Upon completing these steps, your Binance account will be successfully created, allowing you to start exploring the various features and services offered by the platform.

 How to open an account?

How to buy cryptos?

To buy cryptocurrencies on Binance using a credit or debit card, including the option to use Apple Pay and Google Pay, you would follow a process that includes these steps:

Start by logging into your Binance account. Once logged in, navigate to the 'Buy Crypto' section and select 'Credit/Debit Card' as your purchase method. This option is ideal for quick and straightforward crypto purchases.

Choose the cryptocurrency you wish to buy, such as BTC, BNB, ETH, and more. You also need to specify the amount you want to spend in your preferred fiat currency, like USD. The system will automatically calculate and display the equivalent amount of cryptocurrency you will receive for your entered fiat amount.

If you're using a credit or debit card for the first time on Binance, you'll need to add it to your account. Click to add a new card and enter the required card details. Remember, the card must be in your name. Once you've entered your card details and billing address, save the card to your account.

Review your payment details, ensuring everything is correct. Confirm your order within the given time limit, typically 1 minute. After this duration, the crypto price may be recalculated based on current market rates.

For transactions via Apple Pay or Google Pay, select the respective option as your payment method after choosing your fiat currency and cryptocurrency. Follow the on-screen instructions to complete the payment. With Apple Pay, you'll confirm the payment using Touch ID or a password. For Google Pay, select the card you wish to use and proceed.

Once the order is successfully processed, you can view your transaction history to verify the purchase. This is accessible through the 'Orders' and 'Buy Crypto History' sections on Binance.

If you encounter any issues, such as a declined transaction by your bank, you may need to contact your bank or try a different card. Also, note that Binance supports various fiat currencies and bank cards from over 220 issuing countries.

For users looking to increase their purchase limit, they can upgrade their Identity Verification level under the 'Profile' and 'Identification' sections.

This process ensures a secure and user-friendly way to purchase cryptocurrencies on Binance, accommodating various payment methods to suit different user preferences.

How to buy cryptos?

Fees

BINANCE's fee schedule is transparent and straightforward. The transaction fees are capped at 0.10%, and they vary depending on whether you are a maker or a taker. Makers pay a fee ranging from 0.012% to 0.10% of their transactions, while takers pay a slightly higher percentage, ranging from 0.024% to 0.10%. These fees can be reduced according to your tier and the 30-day trading volume you transact.

Moreover, BINANCE offers certain fee discounts and promotions. For instance, there is a 0% fee on BTC/TUSD Spot & Margin Pair, a 25% discount on Spot & Margin Trading fees if using BNB (BINANCE Coin), and a 10% discount on USDⓈ-M Futures Trading fees with BNB.

The tier-based maker and taker fees on BINANCE are as follows:

Level 30-Day Trading Volume (BUSD) Taker Fee Maker Fee
Regular User <1M 0.10% 0.10%
VIP 1 1M-5M, 25+ BNB 0.10% 0.09%
VIP 2 5M-20M, 100+ BNB 0.10% 0.08%
VIP 3 20M-100M, 250+ BNB 0.06% 0.042%
VIP 4 100M-150M, 500+ BNB 0.054% 0.042%
VIP 5 150M-400M, 1000+ BNB 0.048% 0.036%
VIP 6 400M-800M, 1750+ BNB 0.042% 0.03%
VIP 7 800-2000M, 3000+ BNB 0.036% 0.024%
VIP 8 2billion-4billion, 4500+ BNB 0.03% 0.018%
VIP 9 4billion+, 5500+ BNB 0.024% 0.012%

In summary, BINANCE implements a tier-based maker and taker-maker fee system, allowing traders with higher trading volumes to benefit from reduced fees and additional discounts on specific trading pairs.

Funding Methods

BINANCE offers a wide range of payment methods for its users to deposit funds and start trading. Users can fund their accounts using wallets, debit cards, ACH transfers, wire transfers, and various cryptocurrencies.

While withdrawal fees vary depending on the chosen method, BINANCE has not disclosed specific fees for wallet and crypto conversions. However, for debit card transactions, a 4.5% fee is applicable, while ACH transfers are free of charge. For wire transfers, there is a $15 fee.

Funding Method Fees
Wallet N/A
Debit cards 4.5%
ACH transfer Free
Wire transfer $15
Crypto conversion N/A

Compare to Other Cryptocurrency Exchanges

Exchange
BINANCE
Huobi
coinbase
Fees 0.012%-0.10% 0.2% 0% - 3.99%
Cryptos Available 350+ 700+ 200+
Website BINANCE.com/en huobi.com coinbase.com

Binance

Best for experienced traders and those seeking a wide range of cryptocurrencies and advanced trading options.

Huobi

Ideal for users prioritizing security, compliance, and seeking opportunities to earn passive income through staking and investment products.

Coinbase

Suited for beginners due to its user-friendly interface and simple buying options. It is also a preferred choice for users in regions with stringent regulations, as Coinbase emphasizes regulatory compliance.

Ultimately, the best crypto exchange for an individual trader will depend on their specific trading style, preferences, and needs.

Is Binance good for you?

Whether Binance is suitable for you largely depends on your specific trading needs and location. As one of the largest cryptocurrency exchanges globally, it offers an extensive range of over 350 cryptocurrencies, catering to both beginners and experienced traders with its user-friendly interface and advanced trading options. Binance's competitive fees and diverse services, including spot, futures, margin trading, and staking, make it attractive for active traders. However, its regulatory challenges, particularly in the U.S., and occasionally complex interface for beginners, might be limitations for some users. Ultimately, if you're seeking a comprehensive platform with a wide array of trading options and are not restricted by regional limitations, Binance could be a good fit for your crypto trading and investment needs.

Conclusion

In conclusion, Binance is a globally recognized cryptocurrency exchange that offers a diverse and extensive range of over 350 cryptocurrencies. It caters to both novice and experienced traders with its user-friendly platform, low fee structure, and a wide variety of trading options like spot, futures, and margin trading. Despite facing regulatory challenges, including exceeded MAS and FinCEN licenses and restrictions in the U.S., Binance continues to attract users with its advanced security measures, multiple payment methods, and additional services such as staking, mining, and an NFT marketplace. It stands out as a comprehensive platform for those seeking a broad spectrum of crypto-related services and trading opportunities.

Binance User Review

User 1:

Binance is my crypto go-to! The security features like 2FA and cold storage are top-notch, giving me peace of mind. The interface might be overwhelming for newbies, but it's a paradise for traders seeking countless cryptocurrencies to dabble in. Liquidity? No worries, it's like a bustling marketplace. However, customer support can be slow, and trading fees, while competitive, can stack up with frequent trading. Privacy-wise, it's alright, but I wish they'd amp up data protection. Deposits and withdrawals are usually swift, and order types cover all my trading strategies. Stability? Generally good, but those occasional glitches can be frustrating. Overall, Binance is a powerhouse with room for improvement in support and privacy.

User 2:

Mixed feelings about Binance. The security is solid with cold wallets and all, but the whole regulatory uncertainty gives me pause. The interface is sleek, catering to both newbies and pros. Liquidity is impressive; you can trade just about anything here. However, their customer support often feels like shouting into a void. Trading fees are manageable, but privacy feels a bit lax - I'm not sure how much data they're collecting. Deposits and withdrawals are usually quick, but I've had a few hiccups. Order types are versatile, and stability's good overall, but those occasional downtimes irk me. Binance is a heavyweight, but regulatory clarity and customer support need work.

Frequently Asked Questions (FAQs)

Q 1: Is BINANCE regulated?
A 1: Yes. It is regulated by NMLS, but the MAS and FinCEN regulatory licenses are both exceeded.
Q 2: At BINANCE, are there any regional restrictions for traders?
A 2: Yes. U.S. citizens are restricted from using BINANCE in the United States. Four states in the U.S. have also restricted access to BINANCE: Hawaii, New York, Texas, and Vermont.
Q 3: Can you trade NFTs on BINANCE?
A 3: Yes.
Q 4: Is BINANCE a good crypto exchange for beginners?
A 4: Yes. It is regulated and offers extensive tradable cryptocurrencies and trading options with lows fees and advanced trading tools.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

ALL

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System maintenanceNotice about Performing Ethereum Network (ERC20) Wallet Maintenance - 2021-08-24
Dear Users: Binance will be performing maintenance on the Ethereum Network (ERC20) wallet

2021-08-24 16:52

Notice about Performing Ethereum Network (ERC20) Wallet Maintenance - 2021-08-24
Token hit-the-shelfBinance listed Tribe
Dear users: Binance will launch the Tribe (Tribe) on August 24, 2021 at 14:00 (East eight

2021-08-24 09:59

Binance listed Tribe
OthersNotice about support for Avalanche (AVAX), Firo (Firo) network upgrades and hard forks
Dear Users: Binance will support network upgrades and hard forks for Avalanche (AVAX) and

2021-08-23 19:37

Notice about support for Avalanche (AVAX), Firo (Firo) network upgrades and hard forks
NewsCEX Trading Volume Hits $443.27 Billion in October, Binance and Upbit Lead the Way
CEX Trading Volume Hits $443.27 Billion in October, Binance and Upbit Lead the Way
WikiBit

2023-10-31 14:42

CEX Trading Volume Hits $443.27 Billion in October, Binance and Upbit Lead the Way
NewsBloomberg: Binance's $1 Billion "Industry Revival Plan" Deploys Less Than $300 Million
Bloomberg: Binance's $1 Billion "Industry Revival Plan" Deploys Less Than $300 Million
WikiBit

2023-10-11 12:01

Bloomberg: Binance's $1 Billion "Industry Revival Plan" Deploys Less Than $300 Million
NewsBinance to Halt Euro Trading for Paysafe Users on September 28th
Binance: Starting September 28th, Paysafe Users Won't Be Able to Trade in Euros, Suggests Converting to USDT or Withdrawing to Bank Account
WikiBit

2023-09-28 13:46

Binance to Halt Euro Trading for Paysafe Users on September 28th
NewsBinance CEO CZ bans employees from futures trading
Binance CEO CZ prohibits employees, including himself, from trading futures. Violators of the internal monitoring policy face immediate termination. Binance saw a $55.9M liquidation order, the largest of the day.
WikiBit

2023-08-21 13:43

Binance CEO CZ bans employees from futures trading
NewsBinance Converts Delisted NBS Tokens To USDT For Profitable Transition
Binance is converting delisted New Bitshares (NBS) tokens to USDT on 9/9. NBS balances in users’ wallets will be replaced with USDT by 12/8. Conversion based on NBS/USDT rate between 9/9 and 12/8. Detailed NBS/USDT exchange rate info to be revealed after the transition period. Stay informed for a smooth conversion!
WikiBit

2023-08-21 13:39

Binance Converts Delisted NBS Tokens To USDT For Profitable Transition
NewsBinance to Delist SNM, SRM, YFII as Prices Experience Decline
Binance to Delist SNM, SRM, YFII as Prices Experience Decline
WikiBit

2023-08-16 17:19

Binance to Delist SNM, SRM, YFII as Prices Experience Decline
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