Binance is one of the most liquid and popular cryptocurrency exchanges in the world. The cryptocurrency exchange website offers the purchase and sale of cryptocurrencies; spot, P2P, OTC, futures trading with leverage up to 20x, options, margin trading; staking, landing, pharming, mining pool, liquidity pool, NFT, fan tokens and other products.
Key Findings:
• Binance is the largest cryptocurrency exchange in the world by trading volume. Operating since 2017, it has licenses in many regions, including Kazakhstan and Dubai.
• The platform offers a wide range of services, including trading of cryptocurrencies, futures, fan tokens, NFTs and other assets.
• Binance allows you to deposit and withdraw funds using a variety of methods, including bank cards and P2P transactions.
• Binance offers futures trading, which allows traders to speculate on the future prices of cryptocurrencies without having to actually own them.
• In 2021, Binance introduced mandatory verification for all its users to comply with regulatory requirements.
• Binance provides detailed information on the most current coins and markets.
• Binance also offers the opportunity to participate in a mining pool and purchase cloud mining contracts.
• Binance is one of the leaders in NFT trading, offering a large selection of art and other virtual goods on the BNB Smart Chain,
Ethereum blockchains.
Binance ICO and BNB token
Money for the development of the exchange was collected through an ICO in July 2017. CEO and founder of the Binance exchange is Changpeng Zhao. Having extensive experience, he assembled a team of highly qualified specialists, which allowed the crypto exchange to enter the top 3 ranking in terms of daily trading volume in less than 5 months from the start.
At the end of 2017, the Binance exchange showed very sharp development and a large influx of new clients to the site, and therefore, at the beginning of 2018, registration of new accounts was closed for some time. There is no registration ban in 2024, so you can create an account and trade from most jurisdictions.
As part of the ICO, the Binance exchange released its internal token – Binance Coin (BNB). The initial issue was 200 million. Every quarter, tokens were burned in the amount of 20% of the exchange’s profits. From December 1, 2021, the combustion conditions have changed - now it is carried out automatically; the share of commissions in each block of the Binance Smart Chain network is burned. In this way, half of the original emission will be burned.
Binance Coin (BNB) token is used for:
1. reducing trading commissions.
2. payment for transactions on the blockchain.
3. participation in IEO, Launchpool.
4. earnings on BNB Vault.
5. increasing partner remuneration.
6. it can also be spent in many partner online stores, etc.
For example, currently the trading commission on the spot market is 0.1% of the transaction, and when using the BNB token it is 0.075%. To enable the option to pay fees using an internal token, you need to go to the user account settings and activate the discount by first purchasing Binance Coin.
Legal information and terms of use
The company has changed its location several times and still does not have an official headquarters. The place of registration is considered to be the Cayman Islands, which is an offshore zone. Address: Sertus Chambers, Governors Square, Suite #5-204, 23 Lime Tree Bay Avenue, P.O. Box 2547, Grand Cayman, KY1-1104, Cayman Island.
At the same time, Binance is expanding into various markets, obtaining licenses in different countries in Europe, the Middle East, and Latin America. A separate legal entity, Binance US, operates for the United States.
Legal entities in one way or another associated with Binance are or have been in China, Germany, Singapore, Hong Kong, Switzerland, Britain, Malta, Cayman, Seychelles, Jersey and many other countries and regions.
Registration on the exchange is only possible for persons over 18 years of age.
Prohibited Jurisdictions:
1. Ontario (Canada)
2. China
3. Malaysia
4. Japan
5. Great Britain
6. Thailand
And other countries whose regulators strictly restrict Binance’s activities. The company notes that it “reserves the right to select markets and jurisdictions in which to operate and may limit or refuse to provide its services to certain countries.”
Please remember that the exchange is not responsible for your financial decisions and does not cover losses incurred as a result of risky trading/investing.
Registration
Registration on the official website binance.com involves filling out a form with the following information:
1. Email or mobile phone, your choice. Whichever option you choose, after registration, it is recommended to link another one in the settings for additional security.
2. Password.
3. ID to receive a lifetime 10% discount on trading commissions from Binance: N7EQCYMM or simply follow the link. The ID will be filled in automatically.
4. Acceptance of the Terms of Service after first reading them.
When all the data has been entered, you must click “Create a personal account”
If everything is done correctly, a notification will appear asking you to confirm your email address. You need to log into your email account, open the letter from the exchange and look at the activation code.
Then enter it in the registration window. An account on the official Binance website has been successfully created.
Login to Binance exchange
To log into your account on the Binance exchange, you need to click “Login” at the top of the page, enter your username and password. Be sure to check that the transition actually took place to the official website www.binance.com, and not to a phishing site with a similar name.
After entering the data, click “Login”. You will need to solve the captcha by dragging the slider in the same way as during registration, and then confirm your entry with a code sent to your email or phone.
Before you start, it is recommended to secure your account and enable two-factor authentication for login:
✅ We recommend that you enable authorization from Google and download the Google Authenticator application for Android or iOS, and do not forget to write down and save the back key.
✅ If you couldn’t add a phone number, most likely this service is not activated for the region.
If you are not sure about the need for these precautions, you can simply ignore and click “Remind me later”
Initially, the account is not verified, so there are restrictions on any financial transactions - you cannot top up your account, trade, or invest. To remove limits you need to go through verification. To do this, you must upload the required documents to confirm your identity and residential address. This cannot be done without enabling two-factor authentication (2FA).
Connecting two-factor authentication
To secure your Binance account, it is recommended to enable two-factor authentication. To do this, you need to log in to the Binance exchange website and go to the “Security” section of your profile. This page has functionality for connecting 2FA.
• First enable SMS authentication. Click “Enable” next to the appropriate item.
• Enter your phone number and click “Send SMS”. Enter the code received in the message. If the message does not arrive, check the phone number and resend the code in a minute. Click “SMS Authenticator Enabled”, after which the operation is completed.
• Now enable 2FA using the Google Authenticator app. First, download it to your mobile device running Android or iOS.
• In the settings, click “Enable” next to “Google Authentication”.
• Scan the QR code that appears using the corresponding function in the application or enter the alphanumeric code manually. A notification will appear on your mobile device indicating that your account has been added. There will also be a code that will constantly change for security purposes; you do not need to remember it.
• On the Binance website, click “Next” again. Write down and save the code provided in a safe place. It will help you access your account if your phone is lost.
• Click “Next” again, enter the account password, the code from the SMS (will be received after clicking the “Send SMS” button) and the authentication code that will be displayed on the phone at that moment. Then click “Submit” in the window.
Verification
Confirmation of personal information on the Binance crypto exchange is required to carry out any transactions with cryptocurrencies or fiat.
Instructions:
1. Log in to Binance to access your personal account.
2. Click on the “Verification” button in your personal account. The feature is only available when two-factor authentication is
enabled. Click “Start” at the first verification level.
3. Fill in personal data: first name, last name, patronymic; Date of Birth; residential address.
4. Select the type of identification document (passport of a citizen of the country, driver's license, ID card). Let's take a passport as an example.
5. Switch to completing KYC from a mobile device. Take photographs of documents.
6. Next, go through a facial check.
You should also know that the verification process on Binance must be completed within 15 minutes. It is unacceptable to refresh the page, restart or disconnect the Internet. There are 3 attempts daily to complete everything without difficulty.
Requirements for photographs of the person and document:
✅ JPEG or PNG format.
✅ High resolution, good lighting, the ability to read every significant detail.
✅ No post-processing or watermarks.
✅ Be sure to take a photo in color.
✅ The document shown in the photo must be an original, not a copy, and must be valid (not expired).
✅ There is only one person in the photo. You cannot put anything on your head - a hat, sunglasses.
Then all you have to do is submit your application and wait 1-3 days for it to be reviewed. In case of deviation, they will write to you about which data there are questions about.
Replenishment of the exchange wallet
Depositing cryptocurrency on Binance
The Binance exchange supports working with both cryptocurrencies (more than 360 coins) and fiat currencies (US dollar, euro EUR, and others). To make a deposit or withdraw from your account, you need to go to your personal account on the Binance website, select “Deposit”.
This section lists all assets supported by the exchange (you can find the one you need using the search field). To top up your Binance account with the selected cryptocurrency, click next to it (Deposit Crypto).
Fiat input
To replenish the Binance exchange with fiat currencies, you need to go to your wallet in the same way and click “Deposit fiat”. Then select the desired replenishment method.
Cryptocurrency withdrawal
Step-by-step instructions for withdrawing cryptocurrency from the Binance exchange:
1. Go to the “Deposit” section, “Withdraw Crypto”.
2. Find the right cryptocurrency.
3. Specify the wallet address to which you want to receive cryptocurrency and other information as needed. Select a network if the coin exists on several blockchains.
4. Specify quantity. Pay attention to the minimum and maximum withdrawal limits.
Verification is not required when working with an amount less than 2 BTC within 24 hours.
5. Click “Submit”.
6. Enter the 2FA two-factor authentication code.
7. Confirm withdrawal of funds via email or SMS.
8. Wait for the operation status to change to Completed.
How to trade spot on Binance exchange
After replenishing your exchange wallet balance, you can begin trading directly on the Binance exchange. The standard commission for the spot market is 0.1% of the transaction amount. To reduce your commission by 25%, activate the BNB commission payment and use your affiliate ID when registering 355197664 to receive a 20% discount.
To start trading, you need to go to the Binance website and use the “Trade”, “Spot” item.
On the right you can select the desired currency pair from the list:
Then you should select the type of trading order: Limit, Market, Stop-Limit. In the limit order, indicate the desired purchase or sale price of the asset and the quantity (to quickly specify the quantity, you can move the slider):
Market – instant execution of an order on the market, you only need to specify the quantity.
Stop-Limit is the same as a limit order, but you need to additionally specify the stop price at which it will be activated. For example (see the screenshot), if the price of BTC drops to $61,030.43 (Stop), a buy order will be placed and executed at $60,500.43 (Limit). It is useful to place such orders if support or resistance levels are expected to be broken.
In principle, cryptocurrency trading on the Binance exchange is no different from other exchanges. Everything is simple and clear once you get used to it a little.
Margin trading on Binance
Margin trading provides the opportunity to use leverage to potentially increase profits. But the risks also increase. The Binance exchange has a margin trading function available, we’ll tell you more about it.
For this purpose, you need to create and fund a separate margin account on the crypto exchange. This function is available only to persons who have passed the KYC (identity verification) procedure and have also enabled two-factor authentication.
The margin account is accessible from the “Wallet” section of your account profile.
You can transfer funds from your main balance to this account to secure collateral. To do this you will need:
1. Go to the margin account section.
2. Select the desired asset from the list.
3. Click the “Transfer” button.
Specify the desired amount and confirm the transfer of cryptocurrency from the exchange wallet to the margin trading wallet.
Select a cryptocurrency, click “Borrow/Repay”, indicate the amount and confirm the loan. For example, if your margin balance is 0.1 BTC, then you can borrow 0.2 BTC.
Funds are transferred quickly, and immediately after this the opportunity to trade using a margin account opens (section “Trading”→ “Margin”).
Terms of margin trading on Binance
The Binance cryptocurrency exchange charges a percentage for providing credit funds. The interest rate is calculated based on the number of hours (if less than an hour passes, then the calculation is per hour). If the daily interest rate is 0.02%, then you can calculate the hourly interest rate using the formula 0.02% / 24 hours.
When trading, you can choose pairs that have a maximum leverage mark next to their name, for example, 10x or 3x.
There are two types of positions you can use to make a profit when trading on Binance on margin:
✅ Long. Used in cases where a well-supported coin with clear growth potential is selected. You need to borrow another cryptocurrency and sell it for the chosen coin. As soon as the value of the main currency rises, sell it, close your debt and gain profit.
✅ Short. Used when choosing a well-supported cryptocurrency that tends to decline in value. It is necessary to borrow this particular currency and then sell it against another coin. When the rate of the main cryptocurrency decreases, buy it, make a profit and close the debt.
Binance provides the ability to assess risk levels. For this, the so-called margin level is used - the ratio of the total cost of funds to the amount of credit resources along with interest. If the margin level is 1.5 or more, then the default mode is normal mode with access to all functions. 1.3 or less – a margin call notification will be sent. 1.1 or less – funds will be liquidated until margin levels return to normal.
Automated grid trading
As an alternative to third-party trading bots, you can use the built-in tool to automate orders in accordance with the grid trading strategy.
The trader adjusts the “grid” parameters he needs:
1. frequency.
2. upper limit.
3. bottom line.
The system then automatically places orders based on the established indicators, above and below the specified value.
Futures on Binance
On September 13, 2019, the exchange launched the Binance Futures platform for trading perpetual cryptocurrency futures. From the very beginning, the BTCUSDT contract was available with a margin of 20x. There are now several dozen perpetual and quarterly contracts available with leverage up to 125x.
BTCUSDT Contract Specification:
✅ Initial margin: 0.8%.
✅ Maintenance margin: 0.4%.
✅ Type: non-delivery.
✅ Expiration period: unlimited.
✅ Minimum contract size: 0.001 BTC.
Maximum leverage on Binance Futures: 125x.
The trading commission depends on the trading volume over the last 30 days and the presence of the BNB exchange token on the balance. Initial conditions: maker commission - 0.018%; for taker - 0.036% (USDT-M futures), 0.01% / 0.05% (COIN-M futures).
Example of futures trading on Binance
Instructions on how to trade futures on Binance:
Go to “Futures”, USDⓈ-M Futures or Coin-M Futures
Type of terminal for futures trading:
You will first need to transfer assets to the futures account. Click “Transfer” in the bottom right panel. Indicate how many assets you want to transfer. There are several cryptocurrency and token options available. Confirm the operation.
Select the desired order execution type: Limit, Stop Limit, Market, Margin Leverage. For example, a limit order to buy 0.01 BTC at a price of 66,298.9 USDT with x20 leverage. Total order volume: 662.98 USDT. Required initial margin is 33.69 USDT. Thus, having a small amount on your balance, you can open a position several times larger. To indicate a fractional number in the “Quantity” line you need to put a comma and enter numbers.
Click “Buy/Long” or “Sell/Short” and confirm the futures trade.
Since this is a limit order, the price condition must be met for it to be triggered.
Trading fees on Binance: spot, margin, futures
General information about commissions for transactions on the Binance spot market:
✅The standard spot market commission is 0.1%.
✅ By default, the following option is set (can be disabled): if there is the required number of BNB tokens on the balance, they are automatically withdrawn and reduce the transaction commission by 25%.
✅ Also, the level of commissions depends on the level of the user, which in turn is determined by his trading volume over the last 30 days and the amount of BNB in the account.
✅ Information on trading volume and BNB balance is updated every day at 00:00 (UTC). An hour after this, the user's level is updated.
Margin market commission
Margin trading commission:
When calculating commissions for margin trading, a percentage for the use of funds is added. It depends on the specific cryptocurrency and on the account level, determined according to the principle described above (trading volume and amount of BNB).
Futures market commissions
When trading futures, the funding rate for perpetual contracts is added to the commissions. It can be both positive and negative. All VIP statuses earned in a regular account are retained for futures and continue to provide benefits.
The fee structure on Binance Futures is as follows:
The funding rate is used to force price convergence between the perpetual futures market and the actual price of the asset. On Binance, funding occurs once every 8 hours and affects all traders who currently have open positions. If the rate is positive, then the owners of long positions pay the owners of short positions, and vice versa.
Binance Fiat Gateway: Buying Cryptocurrency with Fiat
Binance Fiat Gateway is a place to buy or sell cryptocurrency with fiat money, completely legally and securely. Transactions are carried out directly with the Binance address, the funds are transferred to the balance of the exchange. There are various payment methods, including credit cards and stablecoins.
Currently the exchange works with the following partners:
✅ Simplex
✅ Mercuryo
✅ Banxa
Of course, the function is only available after account verification.
Passive Income on Binance Earn
With the help of the Binance Earn platform, users can earn passive income by putting their unused cryptocurrency assets into circulation. Deposits can be flexible or fixed (for a period of 7 to 90 days). The annual interest rate ranges from 1 to 30%, depending on other conditions for specific deposits.
This section is a universal solution - it includes features such as:
✅ Launchpool – earning DeFi tokens for staking other assets.
✅ Staking of popular cryptocurrencies.
✅ Staking ETH 2.0.
✅ Promotions.
✅ High-risk DeFi tools for making money.
✅ Auto-investing (automatic purchase of cryptocurrencies at a certain interval).
Binance Loans - crypto loans
Binance Loans is a platform that allows users to take out loans in cryptocurrencies and stablecoins, leaving other crypto assets as collateral. The borrower chooses the loan term independently. The loan is approved instantly, the funds are credited to the account and can be used for regular or futures trading on Binance.
Depending on market conditions, Binance Loans will expand the range of supported cryptocurrencies, restrictions, collateral types and interest rates.
How to get a loan:
✅ Go to the “More”→ “Credits” page.
✅ Select the asset you want to receive, indicate the desired amount.
✅ Select the currency you want to use as collateral. The deposit amount will be calculated automatically.
✅ Select the loan term.
✅ Click “Start Borrowing Now” to be taken to the application page (you must be logged in to do this).
✅ Read the service agreement and confirm the application details. After clicking the confirmation button, the funds will be added to your balance.
How to repay a loan on Binance Loans:
✅ In the “Orders” section of the top menu, select “Loan History”.
✅ Select the “Repay” function for the loan you are interested in.
✅ Enter partial or full repayment amount. It is important that interest must be paid before the principal is repaid. There is no fee for early repayment.
✅ Confirm your action.
After full repayment, the collateral will be returned to the exchange wallet. In case of partial repayment, the deposit is not automatically returned, but you can remove it manually. To do this, you need to click the “Set up LTV” button next to the loan in the “Loan History” section, then move the slider or enter the amount manually. Keep in mind that it is recommended to keep LTV up to 65%. Likewise, it can be increased or decreased.
The entire history of taking out and repaying loans is located in the Orders → “Loan History” section.
If you are late in repaying your loan, the system will give you three additional days, charging interest at triple the rate. The loan will then be automatically closed by liquidating the collateral.
Peer to Peer Trading on Binance P2P
Binance p2p is a marketplace that allows sellers from all over the world to exchange assets. It was initially launched only for Android users and only using Chinese Yuan, but later the functionality expanded. Trading is only available to users who have completed KYC.
Currently, you can trade cryptocurrencies such as BTC, ETH, BNB, USDT, DAI, DOGE, SHIB and BUSD.
How to buy cryptocurrency on Binance p2p:
1. Go through KYC, enable SMS authentication and add a payment method in the settings, activate it. You can add up to 20 payment methods (different cards, electronic wallets).
2. Go to the “I want to buy” section.
3. There are filters at the top. Select the fiat currency to be given and the payment method.
4. Select an ad that suits your conditions.
5. Respond to the ad, transfer fiat in accordance with the seller’s instructions.
6. Click the “I paid” button.
7. Wait for confirmation from the seller. Immediately after this, the cryptocurrency will be sent to your account.
The sale follows the same algorithm, only you will need to transfer cryptocurrency to the buyer’s account, and receive fiat using the desired payment method.
The interests of users are protected using a system of escrow accounts in which the amount of cryptocurrency is automatically reserved. It is unlocked only after the seller confirms payment from the buyer. If you are a seller, confirm receipt of funds only after you are sure that they have arrived in your account, do not take their word for it.
During the transaction, a chat is available to communicate with the counterparty. If a problem arises that you cannot solve yourself, you can click the “Appeal” button and call the support service for help.
Swap farming on Binance Liquid Swap
Binance Liquid Swap is a tool for instant trading and making money on investments.
Anyone can add tokens to the liquidity pool and become a market maker. Each pool has two tokens. The exchange rate is determined by the ratio of one token in the pool to another.
Using this tool, it is especially profitable to carry out large transactions, thanks to low commissions and narrow spreads.
All liquidity providers receive passive income for each transaction performed by users within the pool that the provider supported. The interest on the deposit is floating and depends on market fluctuations. Liquidity can be removed from the pool at any time.
OTC trading via Binance OTC
OTC Binance is an over-the-counter trading portal. Includes two main tools:
✅ Binance Convert. The ability to quickly convert within your account without commission and with virtually no slippage. The tool is suitable even for small amounts.
✅ Block Trading. Custom solutions for large transactions starting from $200,000. This is how institutions generally conduct their transactions.
All coins and tokens that are listed on Binance are available for trading.
IEO platform Binance Launchpad
Binance Launchpad is a platform from the creators of Binance, designed for conducting IEOs - selling tokens of new projects and then adding them to the exchange listing.
Any developer of a blockchain project can apply to participate in the IEO. This is done through a Google form on the Binance Launchpad website.
You will need to fill in several fields:
1. Email address for communication.
2. Your status in the project (founder/co-founder, CEO, etc.).
3. Your full name.
4. Non-disclosure policy file signed by the founder or CEO.
5. The main essence of the project in one sentence.
6. Whether the token is a coin/security or other regulated product under US jurisdiction.
7. If not, then attach documents confirming this fact.
Analysts of the Binance crypto exchange select the most promising ones from a large flow of applications that may be of interest to users. Also, obviously scam projects are eliminated, the exchange will not risk its reputation.
The IEO process takes place in the form of a lottery, in which only users with verified accounts and having a certain number of BNB tokens in their account can participate.
Previously, sales were held on a first-come, first-served basis, but as of March 2019, the Binance Launchpad format was updated and changed to a lottery. Features of this format:
✅ Any user can receive lottery tickets. Their number depends on the amount of BNB held in the account during the last 20 days before the lottery. There is a limit on the number of tickets per account.
✅ Each ticket has a unique number. If the user has received several tickets, their numbers will be sequential.
✅ For each Binance Launchpad project, the possible number of winning tickets is announced in advance.
✅ Before the start of the lottery, potential participants are given a 24-hour period to select the number of tickets. After indicating this number, the participant is obliged to purchase the number of tokens corresponding to the volume of winning tickets.
✅ After 24 hours, Binance begins to randomly select numbers.
Once the user is declared a winner, the corresponding amount of BNB is debited from his account.
New Token Distribution on Binance Launchpool
Stakers can earn additional passive income using the Binance Launchpool tool.
Everything is very simple:
✅ The user sends certain coins to the staking pool and earns passive income from them.
✅ Additionally, he is awarded tokens of the promoted project completely free of charge.
Often, tokens obtained in this way are very promising and increase in value significantly over time. Therefore, this is a good option to increase your income.
Referral program
The Binance cryptocurrency exchange has a referral program that allows you to receive up to 40% of the trading commissions of invited users. In addition, the inviter can also encourage the invitee.
Calculation rules:
✅ If a referrer's average daily BNB balance is less than 500 BNB, then his referral interest rate is 20% and he can give 0, 5 or 10% to referrals.
✅ If a referrer's average daily BNB balance is more than 500 BNB, then his referral interest rate is 40%, and he can give 0, 5, 10, 15 or 20% to referrals.
All affiliate commissions are calculated in real time and are credited to Binance accounts every hour. Referral rates are calculated at 0:00 UTC every day and updated at 1:00 UTC.
To take advantage of the listed benefits, the referral must register using the required referral link or by scanning the QR code. If registration on the binance.com website was carried out using the old identification code, then there will be no rollback from the referrer.
It’s worth mentioning separately about the Referral Lite program. You can invite friends and ask them to complete certain tasks, usually related to depositing and trading. As a result, in addition to the usual royalties, the inviter and invitee have a chance to win cash prizes or NFTs.
Mobile and desktop application
There is a Binance exchange app for Android and iOS. It contains almost all the basic functionality for trading, as well as a reference database. This way you can trade anywhere and anytime. The application works quickly, indicators are updated in real time.
There are also convenient and powerful versions of the trading terminal for computers running Windows, Linux or MacOS. In terms of functionality, they are practically no different from the website.
Trading platforms and bots for Binance
Trading on Binance can be made easier by using crypto trading bots. This is one of the ways to control trading operations, in some cases allowing you to work more efficiently and quickly. But not all bots have sufficient functionality to provide high-quality control.
Examples of proven crypto bots and platforms that work correctly with Binance:
✅ Veles Finance
✅ Revenuebot
✅ 3Commas
✅ Cryptorg
✅ Bitsgap
The payment structure varies between bots - it can be a fixed amount per month/year or a percentage of profits.
Reviews
Reviews about the Binance exchange on the Internet are mostly positive. The platform is developing at an incredible pace, new functionality and trading tools are being added. For example, margin and futures trading, a service for conducting IEOs, passive methods of income, it became possible to top up your account with fiat money.
To make passive income, a landing program and cryptocurrency staking were launched on the Binance crypto exchange. The decentralized DEX platform is operational, the Binance Chain blockchain network has been launched, then the Binance Smart Chain. The Binance.US platform has been launched for traders from America. Part of the profit is sent to a special fund SAFU (Secure Asset Fund for Users) to cover losses in case of unforeseen situations.
The advantage of the Binance cryptocurrency exchange is the large number of available coins (all popular coins are traded on this site), as well as a small commission - 0.1%. Disadvantages: prohibition for registration in some jurisdictions, mandatory verification.
FAQ
What is the Binance exchange?
Platform for exchange and trading of cryptocurrencies, tokens, stablecoins and fiat.
What is the official website of Binance?
binance.com.
In what year was the exchange founded?
In 2017.
Who owns Binance?
Changpeng Zhao - Founder and CEO.
Who is the CEO?
Changpeng Zhao (known as CZ).
What services are available?
Binance Launchpad, Binance Chain, Binance Smart Chain (BSC), Binance DEX, Binance Labs, Binance X, Binance Info, Binance Academy, Binance Charity Foundation, Binance Research.
What is the referral ID code for 20% cashback?
Code id 355197664 gives of 20% cashback on Binance.
Why does the exchange website sometimes not work?
This usually happens during a system update.
At what age can you open an account on a crypto exchange?
From the age of 18.
How to get verified on Binance if you are not 18?
Only if you use the data of another (adult) citizen, but this is against the rules of the exchange.
Are you allowed to have multiple accounts?
Yes, but only one of them can be verified.
How to delete an account?
It is possible to disable your account through the exchange website in the settings or through letters received by email. At the bottom of the letter you need to click “Disable your account”.
Is verification required on the Binance exchange?
Yes, verification is required.
What are the differences between Binance verification levels?
The basic level with a verified identity gives access to almost all functions. You only need to go through the advanced one if the basic withdrawal limit is not enough for you or if you want to order a Binance Card (for Europe only).
How to use Binance and how to start trading?
1. Register.
2. Go through verification.
3. Top up your exchange wallet with cryptocurrency or fiat.
4. Buy the desired cryptocurrency.
5. Go to the desired type of trading (spot, futures) and create buy and sell orders.
How to register on the Binance exchange?
You can do this either from the website or through the mobile application. The process is standard, as for most platforms, you need to provide a phone number or email, create a password, and confirm registration using the one-time code sent to you.
Can you download trading apps?
Yes, a mobile application is available for Android, iOS and an application for Windows, Linux and Mac personal computers.
Is test trading available on the exchange?
There is no demo trading on the spot market, only on Binance Futures.
Is bot trading available on the exchange?
Yes. It is possible to launch the bot on both spot and futures.
How to reset Google's 2FA two-factor authentication code?
If you have not saved the backup code and do not have access to the Google Authenticator application, you will need to contact support.
How to top up your balance on the Binance crypto exchange?
Cryptocurrencies, stablecoins, fiat.
Minimum deposit to deposit cryptocurrency?
No limits.
Is Binance exchange safe?
No exchange can be 100% secure. Binance is considered one of the safest. The SAFU fund has been created for insurance. Funds from traders' commissions are transferred to it. In the event of an exchange hack, funds from the fund will be used to cover losses.
Minimum amount for cryptocurrency withdrawal?
Depends on the cryptocurrency.
Where to buy cryptocurrency for transfer to an exchange?
In exchange offices, on stock exchanges and p2p platforms, through electronic payment systems, through telegram bots, in cryptomats and wallets, you can buy cryptocurrency and then transfer money to Binance.
What are the trading fees on the spot market?
Depends on trading volume over the last 30 days. Maximum commission 0.1%. There is a 25% discount when paying fees using Binance Coin (BNB).
What are the fees for futures trading on Binance Futures?
Depends on trading volume over the last 30 days and order type (Maker/Taker). There is also a discount when using BNB.
How can I reduce my trading fees on Binance?
1. Increase your 30-day trading volume to reach the VIP level.
2. Pay part of the commissions in BNB tokens.
Can you short with leverage on Binance?
Yes. This can be done through margin trading on the spot market or on a futures platform.
What is the commission for depositing/withdrawing cryptocurrencies?
0% for replenishment. Withdrawal depends on the cryptocurrency.
How to restore Binance using your passport?
If access to the exchange is lost, you need to write to technical support so that they can help restore it. You will need to provide documents to confirm that they match the verification data.
What cryptocurrencies and trading pairs are available on Binance?
Over 300 cryptocurrencies and tokens available. Almost all assets present on the exchange are traded in pairs with the USDT stablecoin, the BNB token, as well as Bitcoin and Ethereum.
What is Binance WODL?
Binance Crypto Wodl is a word guessing game, daily activity. You need to guess words related to a specific topic, such as DeFi or NFT, as well as weekly topics.
What tools and features are available on Binance for cryptocurrency trading and investing?
The functionality is very extensive - spot, futures, p2p trading, investment instruments of different directions and varying degrees of risk, trading bots, demo account, fan tokens, NFTs and much more. New promising areas are regularly added.
What types of buy or sell orders are available on Binance?
On spot - limit, market, stop limit, trailing stop, OCO. On futures - limit, market, stop limit, stop market, trailing stop, placement only, TWAP.
How to use Binance API?
By creating API keys, you can connect third-party trading bots to automate trading. Detailed documentation for developers is also available on the exchange.
What is the name of the cryptocurrency Binance?
BNB token, which serves to reduce commissions, passive income and other benefits for crypto exchange clients.
Are there subaccounts on Binance?
Yes. You can create “accounts” within your main account to use for different purposes, such as one for trading, another for investing, etc. Each will have a separate balance, but they all belong to the same account.
What is Binance wallet?
The Binance Chain Wallet browser-based wallet allows you to store tokens in a decentralized manner and connect to DeFi applications on the BNB Chain network.
What is Binance Chain, BNB Chain?
These are proprietary blockchains launched by the exchange. BNB Chain is now one of the most popular chains among developers, thanks to its low fees and full compatibility with the Ethereum Virtual Machine (EVM).
What is Binance Pool?
A mining pool, by connecting to which you can receive payments from cryptocurrency mining directly to your exchange account. This is convenient, but according to reviews, the profitability is lower than in other pools.
How to write to Binance support?
You can use online chat - select any issue, then indicate that it has been resolved, and you will be transferred to an operator.
Conclusion
The popularity of the Binance exchange is due to many factors - a wide selection of assets for trading, versatility, and active communication between the team and users. But, obviously, one of the key factors is the flexibility of the site and the team’s interest in new trends in the field of cryptocurrencies. If some new promising trend appears, be it DeFi or NFT, you can be sure that it will be on Binance the next day.
In addition, this exchange is a powerful launching pad for new projects that can distribute tokens here using IEO or Launchpool, thereby attracting a loyal audience at the start. Despite the fact that the exchange also has its shortcomings, it is definitely the leading platform for trading cryptocurrencies today.