Outside of its core exchange platform, Binance has its fingers in a number of other pies. The platform also signed a Memorandum of Understanding with the Malta Stock Exchange with the view of facilitating the trading of digital securities. Binance is also renowned for its dedication to helping those in need. Through its Binance Charity Foundation initiative, the platform has spear-headed a number of charitable projects.
This includes a recent campaign to help females in Uganda who suffer from period poverty. In its most basic form, Binance allows you to buy, sell and trade digital currencies like Bitcoin and Ethereum. Head over to the Binance homepage and open an account. In order to secure your account, Binance will ask you to set-up two-factor authentication 2FA.
You can use this address to send funds to that you purchased on another platform ie Coinbase. Copy the unique wallet address that is provided to you, and use that to transfer the funds from your private wallet. Once your cryptocurrency deposit has been credited — which usually takes no more than minutes, you are then ready to start trading.
You now have access to over individual trading pairs. When you complete your trade, your newly purchased coin will now be available in your Binance account. You can either keep it in your Binance account, or withdraw it to an external wallet. As we noted earlier, one of the main attractions for avid cryptocurrency traders is that the platform has one of the largest lists of supported coins. If you want to see what pairs are available against your chosen coin, you can view this at CoinMarketCap.
This will be charged every time you buy and sell a coin. If you are a market taker — meaning that you simply use the liquidity that is already available on the platform, then you can reduce this down to 0. The lowest fee available for market takers is 0. At the other end of the spectrum, market makers — which provide the platform with liquidity, get an initial fee of 0. However, for trades of more than , BTC per month, this can be reduced down to 0. Irrespective of how much you trade, the fees charged by Binance are some of the lowest available in the cryptocurrency exchange arena.
In even better news, you have the opportunity to reduce these fees further by holding the Binance Coin. As such, your 0. The discounted fees available via the Binance Coin will reduce over time. Binance is a global cryptocurrency exchange that has traditionally accepted users from all nation states.
The main reason for this is that users are trading crypto-to-crypto products and thus, regulations are somewhat unclear. This is especially true when you consider that new users are only required to provide an email address to get started.
However, the platform recently announced that it would be restricting US passport holders from using its exchange. The main reason for this is that Binance is looking to launch a dedicated exchange for US citizens that complies with all regulatory requirements. Although Binance has always been known as a cryptocurrency-only exchange, the platform is now able to facilitate fiat currency deposits and withdrawals. At the time of writing, this is available via credit cards or a bank transfer.
Not all locations are supported, so you are best advised to check this first. Both Visa and MasterCard are accepted. The platform notes that while payments can be accepted from credit cards of all currencies, if the native currency is anything other than USD or EUR, then an additional charge might apply. In terms of the standard processing fees, this comes at a cost of 3. This is slightly lower than industry counterpart Coinbase, which charges 3.
At the time of writing, supported countries mainly consist of the UK and Europe, alongside a number of other jurisdictions such as Turkey, Singapore, Australia, New Zealand, and the United Arab Emirates. To get funds into your Binance account via a bank transfer, you need to specify your desired currency and how much you want to deposit. Binance will then provide you with details of the account you need to make the transfer to, alongside the reference number you need to include within the transfer.
It is important to remember that Binance will require you to go through a simple KYC process before they can accept your fiat deposit request. This is to ensure that Binance remains compliant with all respective anti-money laundering laws.
This is especially crucial for the exchange at a time that they are looking to obtain the necessary regulatory approval to launch an exchange in the US. Binance offers a number of security safeguards to ensure your funds remain safe from the threat of external malpractice. Firstly — and as we noted earlier in our step-by-step account set-up overview, you are advised to install 2FA. Moreover, if you attempt to login from a device or IP address that has not previously been used on Binance, you will need to confirm this via your registered email account.
You can also choose to receive email notifications when key account functions are performed, such as withdrawals. Ordinarily, you have the option to withdraw your cryptocurrency funds to any wallet address. However, if you set-up the address whitelisting feature from within your account, you can ensure that withdrawals can only be made to a single address.
The SAFU function acts like a reserve fund in the event that the platform experiences a hack. When you take into account the multi-billion dollar trading volumes that the platform is accustomed to, the fund could potentially grow to a significant amount. As great as the security features are at Binance, it is important to note that the platform was actually hacked in May The good news is that the platform utilized the aforementioned SAFU fund, meaning that Binance customers that were affected did not lose any money.
Flexible Savings is your Crypto savings account. Subscribe your crypto to earn interest, with the flexibility to redeem your funds at any time. Binance is a world leader in the crypto space, delivering users with a mass of products to deep dive into the crypto market. With one of the largest crypto offerings, global presence, and platform offerings, there are few that can compete.
Liquidity and security protocols deliver investors and traders with an impressive platform to trade from. There are few competitors and, with an easy verification process, both novice and more advanced traders are catered for. It is an ideal platform for those looking to trade and for those looking to spend hard-earned cryptos. Crypto Hub. Economic News. Expand Your Knowledge.
Forex Brokers Filter. Trading Tools. Macro Hub. Advertising Disclosure Advertising Disclosure. This page may not include all available products, all companies or all services. Open Account. Bob Mason. Investors and traders can purchase cryptos by: Bank Deposit: Binance supports bank deposits for fiat currencies. Binance offers multiple trading platforms to cater for different levels of trading experience. See Key Features section.
Users can deposit cryptocurrencies from external wallets or use a credit card, or deposit fiat currency. FX risk is removed, as Binance supports the deposit of all of the major fiat currencies. For desktops, the platform is compatible with both, iOS and Windows. Finance: Users may earn rewards by depositing or staking cryptos, and get instant loans secured by crypto assets and more. See Key Features for details.
Binance supports amongst the largest number of cryptos in the market place. The platform not only supports spot trading but also margin and futures trading. Please see the Binance Futures review for more details. Strong emphasis on security, with Binance offering 2-FA and anti-Phishing measures. Charts are powered by TradingView — This gives users access to a wide range of indicators and drawing tools to support technical analysis. Please refer to the Binance Futures review for details of the futures referral program.
The Pros and Cons Pros A user-friendly platform, with plenty of tutorials and support to assist in familiarizing yourself with the platform. Binance offers amongst the widest range of cryptos in the market and a comprehensive range of crypto pairings to trade. High trading volume delivers greater liquidity to Binance traders. Supports the deposit and withdrawals of crypto and fiat money. Strong emphasis on security, with an array of security measures to protect investor assets.
Launchpad gives Binance users access to newly launched coins and tokens. Users can earn interest by saving cryptos and earn rewards for staking cryptos. Multiple trading platforms to cater for different trader experience levels. Other positives include KYC verification delivering an additional protection layer for Binance users. Cons KYC compliance will be positive for some, while considered negative for traders seeking anonymity. Users are able to trade Bitcoin, however, before completing the verification process.
A demo account is only available for the Binance Futures platform. The more advanced trading platforms can be daunting for novice traders while delivering for the more advanced trader. The Platforms Binance offers the following trading platforms to cater for the more novice and more experienced traders: Basic : This is the easiest way to trade on the Binance exchange. Users can trade Bitcoin, BNB, and hundreds of other cryptos in just minutes.
Classic : A standard trading platform that provides users with a more traditional platform to trade from. The platform includes charts and options to trade with stop loss, by market or limit order, and either spot or with margin. This is where a stop-limit order and a limit order are placed at the same time.
When either of the order pairs is triggered, the other order will be canceled. If one is canceled, the OCO pair will be canceled. Additionally, however, there are more trading tools within the charts. Margin : Allows traders to trade with margin to enhance earnings. OTC : Offers better pricing and fast settlement for larger buy or sell trades. From the dropdown menus, simply select the crypto you wish to convert and enter the amount.
Then select the crypto you wish to purchase. Preview the conversion and then complete the trade. Classic This is the more traditional trading interface providing access to charts. Users also have the option to trade under isolated 10x. Additionally, users that have entered into trades are also able to view: Open Orders.
Order Histories. Trading History. Funds Summary. Margin Binance also supports margin trading in order to increase profits. With Binance Margin Trading, users can borrow funds to perform leverage trading. Isolated Margin Mode: Each trading pair has an independent isolated margin account. Only specific cryptos can be transferred into it, held, and borrowed in a specific isolated margin account. Positions are independent in each trade pairing.
If an additional margin is needed, you need to fund the account, it will not be automatically be funded from other isolated or cross margin accounts. Risk is isolated in each isolated margin account. Once liquidation happens, it will not affect other isolated accounts.
Cross Margin Mode: Each user can only open one cross margin account, and all trading pairs are available in this account. Assets in a cross margin account are shared by all positions. The margin level is calculated according to total asset value and debt in the cross margin account. Once liquidation happens, all positions will be liquidated. Choose whether you wish to buy or sell and then enter the amount that you wish to buy or sell in the trade pairing.
You may choose the pairings from the dropdown menus. You will then have the choice to reject or accept the quote. Charts The Binance platform provides traders with interactive charts to support trading and investment activity. Binance offers users access to 3 chart formats: Original TradingView Depth Users can view and include indicators by clicking the icon shown by the arrow below.
Charts are available on the Classic, Advanced, Margin, and Derivatives trading platforms. Balances and Trading History Binance provides users with a comprehensive historical log of all orders, loans, and savings history. Key features of the Binance platform Wallets: Binance offers users with a comprehensive list of wallets to hold cryptos and fiat currencies on the exchange. Binance Visa Card : Users can convert and pay with crypto worldwide.
Payment Methods Binance offers multiple deposit options for users. These include: Crypto deposit: For users who already own cryptocurrencies supported by Binance, you may transfer these to the Binance compatible wallets. Binance will send you a verification code to your email address.
Once your Bitcoin wallet is funded on the Binance exchange you are ready to trade. You will need to provide the following in order to complete the verification process: Primary country of residence. First and last name. Date of birth. Residential address. Photo of your ID. Selfie to verify your identity. Step 2 : Enter your first and last name, Date of Birth, and residential address. Also, choose your nationality from the dropdown menu.
You will now need to verify your identity. Please ensure that you have your Photo ID to hand. Step 4 : Either upload a file copy of your ID, take a photo of your ID or opt to use mobile if easier. We have opted to upload a copy. Check to ensure that the picture is in focus and that your whole face is visible. Post Identity Verification Deposit Upon completion of the verification process, you may make fiat currency deposits.
The Details Binance supports the investing and trading of cryptos. With an array of platforms to cater to the ever-widening investor and trader pools, Binance delivers: Basic to advanced trading platforms to support rudimentary investing and trading to advanced trading techniques. Margin: Delivers margin trading to the crypto world enabling traders to enhance returns. OTC: Caters for those looking to enter into larger trades by offering better pricing and faster settlements.
P2P: Gives investors and traders access to the Binance crypto network. Here investors and traders can buy and sell with other users across the Binance network. Fees and Charges Trading Fees Binance has a tiered trading fee structure that is based upon day cumulative trading volume or hour Binance Coin holdings.
Withdrawal Fees Withdrawal fees and minimum withdrawals vary by crypto, as shown below. Binance Wallets Binance provides users with compatible wallets for the supported cryptos. Crypto wallets are classified as follows: Spot : Binance provides wallets to manage your cryptos for spot trading.
Copy the address or scan the QR code, and complete the deposit. We do recommend that you scan the QR code, when possible. Choose the currency that you wish to deposit. Select the preferred payment method. Enter the details prompted and complete the transaction. You will need to complete the verification process in order to deposit fiat currency. Withdrawals For withdrawals, users may withdraw Binance supported cryptos to external wallets.
Select the recipient BTC address from the dropdown menu. Choose the transfer network. Fiat Money Withdrawals In order to make a fiat withdrawal, simply select fiat from the page above. Select the currency that you wish to withdraw from the dropdown menu. Choose your withdrawal method and complete the transaction. Privacy and Security Binance delivers a high-level of security to users to protect personal information and user assets.
Google Authentication : Used for withdrawals and security modifications.
Binance также проведет листинг Bitcoin Cash ABC (BCHA) в инновационной зоне и откроет торговлю парой BCHA/BUSD в (мск). Get started today and buy, sell and store Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Binance Coin, and more, all with some of the lowest fees in crypto. Get started today and buy, sell and store Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Binance Coin, and more, all with some of the lowest.