- Low transaction fees
- Fast transactions
- Payment cards accepted Anywhere
- Offers more than 250 coins
- Interesting earning program
- Not ideal for beginners
- Cashbacks ar e only in BNB
- The primary website is unavailable in the United States.
- Exchange was compromised one time
Binance 2022 review
Binance: A Brief History
Changpeng “CZ” Zhao, a veteran of the cryptocurrency industry, launched Binance in 2017. Due to increasing crypto regulations in China, the exchange had to relocate rapidly.
The company’s headquarters have been in Japan and Malta at various times, however neither country is now home. Since it has signed memorandums of understanding with both Bermuda and Malta, that may soon alter.
Binance’s vast selection of cryptocurrencies, minimal fees, and cutting-edge offerings immediately attracted a massive user base. Binance is a one-stop shop for buying and selling virtually any cryptocurrency as well as earning, staking, hedging, lending, paying, acquiring credit, acquiring NFTs, and more.
Binance also has its own stablecoin currency, BUSD, and another token, BNB, that has done exceptionally well due to its minimal fees.
Due to its many advantages, Binance has surpassed every other cryptocurrency exchange in terms of trading volume.
Signup process for Binance
It’s simple to open an account on the Binance Exchange.
- The Binance homepage features a “Register” button.
- Put in your email here.
- Make a passcode
- Agree to Binance’s User Agreement
- Just hit the “Sign Up” button.
- Verify your email to confirm your registration.
How to verify Binance account?
- Log in and head over to the user center.
- click on the Verification of Identity button.
- Provide the following information:
- An acceptable form of identification, such as a passport or driver’s licence, to proceed with the verification process.
- You can scan your document in or snap a picture to upload.
- Capture a picture of yourself.
- When you’ve uploaded your photo and ID, click the confirm button.
- Your request will be processed as soon as possible by Binance.
As soon as your account is confirmed, you will receive an email notification.
Binance isn’t just a website, though; there are also mobile and desktop applications. The desktop version supports MacOS and Windows, while the mobile app is compatible with iOS and Android.
Can I Trust Binance?
Binance is secure, yes.
After being hacked for $40 million in early 2019, Binance took swift action to compensate users through the Binance Secure Asset Fund for Users (SAFU). SAFU is a cold wallet that has enough funds to compensate for any user losses. Since then, there have been no other incidents.
It can be instructive to observe how different exchanges deal with adversity when necessary. Binance scored a perfect 100 in the aforementioned scenario.
Binance provides the standard array of safeguards, such as two-factor authentication and universal factor authentication.
How Much Does Binance Cost?
The trading fees on Binance are the lowest of any major exchange (after Pionex). Fees for both the buyer and the sellers total 0.1%. If you trade more than 50 Bitcoin (BTC) 30-day period, or if you hold more than 50 Binance Coin (BNB), fees reduce even more.
With the exception of the network cost, transferring assets to your Binance account is completely free. Binance’s withdrawal costs shift with the value of the asset being cashed out. There is also a minimum withdrawal requirement.
Is the Binance exchange owned by the Chinese government?
As far as we know, Binance is not controlled by the Chinese government. Changpeng Zhao, founder and CEO of Binance cryptocurrency exchange is canadian.
The location of Binance’s headquarters is in Ta’ Xbiex, Malta
Binance Customer Service
Sending in a ticket, chatting with an agent, and using Twitter are the three most common methods of contacting Binance’s support team.
- On the Binance website, there is a form customers can complete out to submit a ticket and get help by email.
- If you have any questions or concerns, you can tweet them to Binance’s help account (@BinanceHelpDesk).
- On Binance’s website, a chat box can be found in the lower right-hand corner of the help page.
Bitcoin Gift Card Binance
Binance users can personalise their gift cards using a variety of options, including card messages, the amount of Cryptocurrency to be gifted, and the design of the card itself. A gift card can be purchased with cryptocurrency like Bitcoin, Each gift card has a unique code that need to be copied, and then emailed to the receiver.
Binance Charity foundation
One of the world’s first fully open and decentralised blockchain charity projects, Binance Charity Foundation accepts donations using the Binance blockchain. To that end, Binance Charity has worked to promote global health and wellbeing, reduce poverty, and level the playing field for all people through blockchain technology.
Binance affiliate program
You can earn up to 50% commission on every eligible trade by referring new users to Binance through the affiliate link.
In this case, if a user signs up for Binance using your referral link, you will receive compensation for the successful referral trade. It’s possible to earn commissions on all of your referrals’ trades, whether they’re executed on Binance Spot, Futures, Margin, or Binance Pool.
With Binance launchpad, more active traders receive access to the market at every moment of the day. The debut of a new cryptocurrency is the best investment opportunity for every active traders. Binance captures these launches and alerts the traders. It also provides launch whitepapers and outlines the deadlines for the traders to start staking with new currency in crypto.
In short, the Binance Card is a Visa debit card that is linked to your Binance account, allowing you to spend crypto everywhere Visa is accepted. This card functions similarly to a debit card, except that cryptocurrency must be loaded in it in advance.
You can use it at any of the more than 60 million Visa-accepting stores in 200 countries and territories.
To sum up this Binance review, a number of independent sources agree that Binance is the preeminent cryptocurrency exchange in the world. This assessment, like the others, finds the platform’s strengths to be advantageous for traders. From Bitcoin and Binance Coin futures to a wide variety of other assets, Binance has you covered. A user of Binance can delve deeply into the cryptocurrency market. The minimal costs imposed by Binance ensure that new traders can make money in the first few months of using the exchange. Large numbers of transactions per day are feasible on this exchange. It is able to handle high trade volumes and even provides price breaks for its clients.
Binance has become a global player thanks to the success of its platform. Binance is a cryptocurrency exchange that has few rivals. It has unparalleled liquidity and provides users with full protection as investors. Binance employs numerous safety measures across the board in the trading process. Professional traders are impressed by the secure trading environment provided by the platform’s several layers of security and may make the transfer from their current broker. The onboarding process is sped up because to the simple verification process that both new and experienced traders can use. Traders will also benefit from the recently released Binance Visa Card and Binance Launchpad. In the future, Binance will improve even further as the premier exchange for trading digital currencies around the world.