Binance Exchange review
Sign Up Process
The sign up is very simple. All you need is an email address and then create a password. You will then receive an email confirmation with a link to confirm your registration. For extra security, I would suggest enabling Google Authorization code. You will see this option
Sign u here today Binance Exchange Sign Up
If you’re a newbie and want to buy Bitcoin, Ethereum, Dash, Bitcoin Cash, Litecoin and Ripple with your Visa card or bank transfer, I highly recommend you have a look at Bitpanda, its where I started before transferring my Bitcoin to Binance and other Exchanges to buy other Crypto Currencies.
In this article, we will give you an in-depth Binance exchange review.
If you become a member of the Binance community, you will get access to the trading platform with a user-friendly dashboard. From the dashboard, you can view information on the current prices for various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc. The trading platform comes in two versions Basic and Advanced. There is not much difference between the two except that the advanced version has options for technical analysis. Even the basic version is stuffed with lots of information such as order book, trade history, different types of chart, etc.
You can easily get funds from this platform by deposits withdrawals. You can choose the cryptocurrency, i.e., Bitcoin, Ethereum or Binance coin, etc. with which you want to deposit in your account. Binance provides you with a public wallet address which can be accessed from any device.
One of the advantages of Binance is that you can track the real-time price movements of all the cryptocurrencies at a single dashboard facilitating the great trading experience. The platform has the option to trade in limit and market prices enabling secure order execution. Other than English, the platform comes with multilingual support for 9 languages including German, Chinese and Japanese languages.
Since it is a new startup, the transaction fees of Binance exchange is at a flat rate of 0.1% of each trade. There is also promotion offer in which you can receive 50% discount in the first year of use. Thus the transaction fees reduced to 0.05% for a new user. Binance boasts the lowest transaction fees in the cryptocurrency market.
Binance has one of the broadset range of cryptocurrency trade offerings which includes industry-leading Bitcoin, Ethereum, Litecoin and upcoming coins such as Bitcoin gold, Bitcoin dash, IOTA, Neo, etc. In total, it currently serves trading on 36-coins which is rapidly increasing. It gives you an incredible amount of liquidity that is available nowhere in the market. You can view the last traded price and other information of around 180 coins in a single webpage. If you want to buy new and upcoming coins, then Binance is the place to go.
Binance is known as the greatest cryptocurrency exchange, you cannot fund your account in currencies of legal tender. The platform allows only deposition of cryptocurrency funds. There is no limit on the deposit amount in case of crypto coins. For deposits, there are no transaction fees. There are various verification tiers which determine the total amount you can withdraw in a day. You’ll be at level 1 if you have not submitted any verification details which limits your withdrawal to around 2 BTC per day. For level 2, you need to have Google authenticator, or two-factor authentication enabled. You need to provide your passport details and name for getting level 2 status. At Level 2, you can withdraw up to 100 BTC per day.
The popularity of Binance Exchange
Any crypto exchange is only as good as the number of investors it can attract. It gives the platform the much-needed liquidity and dynamism in trading. Binance has been doing great in that area recently. Cryptocurrency community seems to have taken an interest in Binance, and it is considered to be better than Bittrex. Binance being one of the latest exchanges in the market has gained visibility from new and old investors alike. The leadership team involves professionals who have an impressive track record in cryptocurrency market. Multilingual support is sure to attract investors from various countries.
The trading platform has security measures to prevent laundering and hacking of accounts. The accounts are protected by two-factor authentication hence making it difficult for hackers to steal funds from your account. The company has provided guidelines on how to secure your account using simple measures such as password protection, having proper antivirus on the computer, etc. However, there is no information about the security details of Binance servers. So it is up to the user to decide whether to use this platform or not.
Compared to other exchanges, customer support of Binance is yet to evolve. The site host a section on FAQs that answers some questions. However, queries related to the transactions are not available. The website offers an option to submit an online support ticket and can get responses from the company through email. Binance gives assurance that your ticket would be attended by an expert who has known the system thoroughly.
To conclude on my Binance Exchane review – lets look at the Pro and cons and give it a overall star rating
Low transaction and withdrawal fees
Easy to use interface
Great trading platform
Stellar site security
Always updating and improving
This exchange supports over fifty altcoin currencies
Multi-language chat features available
The withdrawal process has a reputation for being very slow
Limited payment options
The verification process can be time-consuming
Thank you for taking the time to read my Binance Exchange Review. Check out my review on what Crypto Currency Podcast you should be listening too. Also, make sure to subscribe to my emails to get more great updates and reviews.