Create an Account on Binance
Deposit Funds
Search for your favourite/studied Crypto(s)
Buy the Crypto(s) and start trading
Note: Before reading this article!
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Binance review – What is Binance?
Binance is a popular trading platform, that has grown considerably in recent years, now having a trade volume of approx. 20 billion US dollar, making it one of the biggest crypto platforms. The platform was founded in 2017 by a chinese-canadian business man by the name of Changpeng Zhao. The company was originally located in China, but it eventually moved over to Malta.
The platform mainly operates on two markets, the spot market, where you can trade cryptocurrencies for other cryptocurrencies, and the derivatives market, where you can trade futures, options and assets with leverage.
Binance review – Regulation of the platform
In the past Binance had been gone through quite a few issues in both the US as well as some European countries. When it came to regulation, it seemed that Binance was not a very trustworthy platform.
However, this has changed now. To comply with US regulations, Binance has opened up a Binance.us branch, which helps them follow US laws to a tee.
On top of that Binance has also begun working together with a bunch of regulatory authorities of different EU countries, such as France’s AMF. Another approval for regulation was granted by Italy and other countries such as Spain, Portugal, Slovakia, Bulgaria, Romania and the Nordic Countries are bound to follow suit.
With that in mind, traders can rest assured that Binance does everything in its power to become a regulated and thus even more professional platform than ever before.
Binance review – Is this broker available in USA?
Yes, Crypto.com is available in 100+ countries including United States, is currently available in 46 states except Hawaii, New York, Texas and Vermont.
Binance review – What’s the Binance coin?
As with most platforms, Binance is also running its own native coin. That coin is called the Binance coin (BNB) and can be used for services on the Binance platform, offering discounts for traders using said coin.
Depending on the amount of Binance coins you buy, you’ll also be able to earn cashback rewards, making it quite a lucrative option for trading cryptocurrencies. To further support the coin Binance also introduced the Binance Smart Chain in 2019, which allows the use of decentralized platforms with BNB being the driving currency.
Binance review – What’s BUSD?
BUSD is the second coin that was launched by Binance and as the name suggests it’s directly pegged to the US Dollar. The issue of this token is Paxon and the USD is backed by a reserve and the U.S. treasuries, making it a rather safe coin.
The BUSD is natively locked on the Etherium Blockchain, a rather popular and prestigious blockchain that most traders will probably know of. In terms of market capitalization the BUSD is the 3rd largest stablecoin in the world.
Binance review – Binance earn feature
One of the things that makes this platform stand out in our binance us review is the Binance earn platform, which allows you to profit from staking opportunities. You can buy and deposit stablecoins, and depending on the coins you can then earn interest for the coins you’ve deposited.
You’ll also have the option to choose between Guaranteed and High Yield Staking, with the former allowing you rather predictable, but lower returns, while the latter is a more risky investment, potentially yielding high returns instead.
Binance review – Why should you use the Binance platform in 2022?
As we have learned during our binance crypto exchange review, Binance is one of the biggest crypto trading platforms in terms of trading volume, but there’s more to the platform than just the trading volume. One of the reasons so many traders like this platform is due to the fact that you have access to more than 600 tradable assets for a rather competitive fee.
Of course, this also includes many popular coins such as Bitcoin, Ethereum and Cardano. On top of that, you have access to other tokens, such as Stablecoins and Mining Tokens. Another great thing about the platform is its referral programmes, allowing you to earn some extra money by referring other users to the platform.
Pros:
Cons
Binance review – What is Auto-Invest?
Auto-Invest, as the name suggests, is an automated feature on Binance, which allows you to buy pre-determined amounts of crypto coins from a list of 63 different coins.
That way you can invest in coins and create a portfolio, which may earn you some extra money over time. You’ll also be able to redeem your funds at any time, making this a rather convenient feature.
Binance review – Fees
The trading fees on Binance were pretty low overall, making it a good option for traders that have a huge trading volume every month. After all, the less fees you gotta pay per trade, the more room you have for potential profits when the course swings the right way for you.
Here’s a small overview of the fee structure:
| Asset | Fee | Description |
| BCT Spot Trading Pairs | Free | zero fee on specific fiat and stablecoin BTC pairs |
| BUSD Spot Trading Pairs | Free | Zero maker fee on BUSD pairs |
| Spot Trading | Average | 25% Discount with BNB |
| Futures Trading | Average | 10% Discount with BNB |
| Withdrawal Fee | Free for crypto, varies for Fiat | 15$ for USD withdrawals when using SWIFT |
Binance review – Payment methods of Binance
When using Binance P2P you’ll have access to over 300 different payment methods and over 70 local currencies. That gives you an incredible amount of flexibility and freedom when it comes to depositing and withdrawing funds during your time as a trader.
To make this a little bit easier, we have prepared a list of some of the more well-known payment options. That way you get a good idea of the limits of each payment method and whether or not it’s the right one for your individual needs.
Here’s an overview:
| Method | Timeframe | Currencies | Max. deposit | Withdrawal available? | Additional information |
| Credit Card/Debit Card | Instant | USD, GBP, EUR and AUD | Depends on VIP level | Yes | Cards available: Visa, Visa Electron, MasterCard and Maestro |
| PayPal | Instant | USD, GBP, EUR and AUD | Depends on VIP level | Yes | You must have a PayPal account with funds, in order to use this option. |
| Neteller | Instant | USD, GBP, EUR | Depends on VIP level | Yes | You need to have an active account on Neteller |
| Skrill | Instant | USD, GBP, EUR | Depends on VIP level | Yes | You need to have an active account on Skrill |
| Rapid Transfer | Instant | USD, GBP, EUR | Depends on VIP level | / | You don’t need to register, but you’ll need access to your online banking. |
| Bank transfer | 4-7 days | USD, GBP, EUR | Depends on VIP level | Yes | Please note down the Transaction ID to prevent delays in crediting the funds.
If possible, transfer funds to the bank account in the same currency as your own bank account (USD, EUR or GBP), to avoid unnecessary bank charges |
| Online Banking – Trustly | Instant | GBP, EUR | Depends on VIP level | / | You don’t need to register, but you’ll need access to your online banking. |
| Payoneer | Instant | USD | Depends on VIP level | Yes | Payoneer deposits are only accepted in USD currency. If you use any other currency, you should use a different option. |
Binance review – Customer support
Binance offers customer support via chat as well as a self-service feature, where you can easily solve at least some of your issues via the website on your own, without having to rely on customer service.
It’s definitely good to see, that the website offers customer support via chat, as this is usually way more convenient than having to rely on answers via email. The chat option will also come with a lot of specific inquiries, ensuring that support staff will quickly know more details about your issues, making the solving of issues smooth and quick.
Binance review – Trading Tools of Binance
To enhance your trading experience, Binance has added several features for you. For example, you can make use of the Grid Trading feature, which allows you automatically execute buy or sell orders within a specific price range and at certain intervals.
This tool is best used when the market is either volatile or stagnant, as these are the times when Grid Trading has the most potential for profits.
The Time Weighted Average Price (TWAP) feature meanwhile allows you to split a large order up into several smaller orders, executing them at recurring intervals. This feature can be used by both regular users as well as VIPs, so make sure you don’t miss it.
Binance review – Binance academy
One of the best things about Binance is the plethora of educational resources you can find on Binance Academy. Binance Academy was created with both new traders and veterans in mind. New traders will be able to learn trading in no time, while experienced traders can improve their trading strategies with more in-depth guides.
In our binance usa review we found over 280 articles just waiting in the Binance Academy, and to top it all off they are also available in 21 different languages, making it even easier for you to learn trading in no time.
Binance review – What sets Binance apart from other platforms?
- Binance has among the cheapest fees when it comes to trading, as well as mostly low if not free withdrawal fees. You’ll be able to make more potential profits, due to the lower fees. However, you should be an active trader to really make use of it.
- Binance offers a plethora of educational materials in their Binance Academy, aimed at both new and veteran traders. You’ll most likely also be able to read them in your own language, as they have been translated in 21different languages.
- A wide variety of assets await you for trade on Binance. Over 600 different tradable assets in fact. That makes Binance one of the most versatile platforms when it comes to trading, allowing you to properly diversify your portfolio.
- The platform is rather straightforward and easy to use. While the platform doesn’t have a demo account to show you the ropes, it should not be too difficult to learn trading on Binance, given the amount of guides available.
