Binance Trading Paltform | Binance Exchange Review 2020


Legal Name Binance Exchange
Headquarters Malta
CEO Changpeng Zhao
Year Founded 2017
Exchange Type Decentralized
Trading Fees Maker: 0.10%/ Taker: 0.10%
Deposit Methods WireTransfer, Credit Card and Cryptocurrency
Supported Cryptos 200+ Cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more
Fiat 40+ currencies including US Dollar, Euro, Pound and more
Customer Service Email, Phone
Trading Options  Spot Trading, Margin Trading

As the popularity of cryptocurrencies rises, more and more exchanges are being developed for purchasing, exchanging and selling various cryptocurrencies. This makes choosing which exchange you’re going to use more and more difficult.

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Binance is a successful crypto-currency exchange that began in China, but then moved its headquarters to Malta. Binance is popular for its crypto to crypto exchange services.

In this article, we will provide you with the complete guide on the Binance exchange and look into its aspects such as its features, fees, pros and cons and much more. Let us look into detail in this Binance exchange review now,

Interesting Fact – During the COVID-19 lockdown period, Binance recorded a 24-hr trading volume of $4 million on 14 April 2020 and a monthly trading volume of $139.7 million. Both being highest in the world.

What is Binance?

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Binance is the world’s largest online cryptocurrency exchange by trading volume. The exchange is also one of the fastest platforms in the crypto market today. As the world’s largest crypto exchange by trading volume, Binance Coin delivers investors and traders with a full suite of offerings.

The exchange provides investors with one of the widest range of cryptos available in the marketplace today. CEO Changpeng Zhao founded Binance back in 2017 and is headquartered in Malta after having moved from China. 

Binance Features

  1. Wallets: Binance offers users with a comprehensive list of wallets to hold cryptos and fiat currencies on the exchange.
  2. Mobile Trading: Binance is mobile compatible and is available on Google Play, Android APK, and the AppStore.
  3.  Interactive Charts: Supported by TradingView, users have access to a wide selection of indicators to carry out technical analysis.
  4. Support Centre: A comprehensive library of articles to assist in queries and to help navigate the platform. Users may also chat directly with customer support.
  5. Trade: A wide range of platforms are on offer to invest in or trade cryptos. These include “Basic”, “Classic”, “Advanced”, “Margin”, “OTC”, and “P2P”.
  6.  Launchpad: Users are given access to crypto launches to stay ahead of the market. Here, you can review the project details, including the whitepapers, the timelines, and start staking.
  7. Finance: Users receive rewards for depositing and staking cryptos. Binance also offers loans secured by cryptos.
  8. Binance Visa Card: Users can convert and pay with crypto worldwide.
  9. Deposits and Withdrawals: Binance supports the deposit and withdrawals of both cryptos and fiat money.

Binance Fees and Limits

Binance charges an average fee of 0.10% on each trade that a user makes. Those who choose to pay via the Binance token can get a 50% discount on the trading fee. These are surely some of the lowest fees available at this time.

Withdrawal fees tend to vary for each digital currency. For instance, 0.0005 is charged for Bitcoin withdrawals, and 0.005 is charged for ETH withdrawals. The deposit methods at Binance include Wire Transfer, Cryptocurrency and Credit card.

Binance Supported Currencies

The Binance Exchange currently supports more than 200+ crypto currencies. Some of the major ones include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Chainlink (LINK)
  • Binance Coin (BNB)
  • Binance USD (BUSD)
  • Basic Attention Token (BAT)
  • Cosmos (ATOM)
  • Dash (DASH)
  • EOS (EOS)
  • Nano (NANO)
  • Paxos Standard (PAX)
  • TRON (TRX)
  • TrueUSD (TUSD)
  • Tether (USDT)
  • Stellar Lumens (XLM) 

Binance Mobile App

Binance is mobile compatible and is available on Google Play, Android APK, and the AppStore.

How to register on Binance?

  1. Step 1:

    To open an account, go to the Binance home page and click on “Register” on the top right-hand side of the home page.

  2. Step 2:

    Complete the information requested. This includes either email address or mobile number and password. If you are a referral you may also enter the referral ID.

  3. Step 3:

    Acknowledge that you have read and agree to the Terms of Service and then click “Create Account”.

  4. Step 4:

    Binance will send you a verification code to your email address. Enter the code and hit “enter”.

  5. Step 5:

    In order to complete the “Identity Verification” process, go to your…

Read More: Binance Trading Paltform | Binance Exchange Review 2020

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