Binance Review 2022 2023

Binance Exchange maintains its position as one of the world's leading cryptocurrency exchanges by providing users with the most cryptocurrency trading pairs of any trusted exchange, resulting in Binance having the greatest trading volume of any crypto exchange.

Binance, founded in 2017 by Changpeng Zhao, soon rose to prominence as a top cryptocurrency exchange, with its own cryptocurrency known as Binance Coin. Binance allows consumers to buy crypto assets directly using fiat currency or a credit card. Binance can be accessed via its website, desktop application, or mobile app.

  Binance.US has reduced trading costs and a larger assortment of cryptocurrencies than other providers, but not as vast as its parent site.

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Pros And Cons

Pros

• _There are almost 50 cryptocurrencies accessible.
• _Low trading costs.

Cons

• _Seven states in the United States do not have it.
• _There are fewer crypto-to-crypto currency combinations than on the worldwide Binance site.

Full Review

1. . Binance's History
2. . Where Binance.US shines
3. . Where Binance.US falls short
4. . What Binance.US is best for 
5. . Binance.US at a glance
6. . Full details about Binance.US
7. . Is Binance.US right for you?
8. . Is Binance safe?
9. . Cryptocurrencies Available on Binance
10. . Binance Sign-Up Process
11. . Binance accepts cryptocurrency.
12. . Cryptocurrencies Available on Binance

Binance's History

Changpeng "CZ" Zhao, a long-time cryptocurrency entrepreneur, created Binance in 2017. The exchange was initially based in China, however, it swiftly relocated owing to tightened crypto restrictions.

Over the years, the company has had offices in Japan and Malta, but it does not have a stable home base of operations. That may soon change, as it has inked memorandums of understanding with both Bermuda and Malta.

Binance quickly grew in popularity due to its low costs, the wide quantity of cryptocurrencies, and innovative features. Binance now provides every crypto product imaginable, including exchange, earn, staking, futures, loans, payments, credit cards, NFTs, and more.

Binance even has two own tokens: BUSD, a stablecoin, and BNB, which has historically done well because of its low costs.

Binance has become the most popular crypto exchange in the world, with the highest trading volume, thanks to all of the aforementioned characteristics.

Where Binance.US Shines

Binance's 0.1% trading charge is cheaper than that of several other US exchanges.

Binance is well-known for its lightning-fast trade execution. Before founding Binance in China in 2017, firm founder Changpeng Zhao built a software system for matching orders for high-speed traders.

While it does not have as many cryptocurrencies and crypto-to-crypto trading pairs as its parent firm, Binance.assortment US's of roughly 60 cryptocurrencies still outpaces many other U.S. exchanges.

Where Binance.US Falls Short

Binance.US is not yet available in all 50 states.

Regulatory issues: Binance, the global parent company, has run into regulatory issues and controversy in some countries after shifting operations from China to Japan; at a May 2020 tech conference, founder Changpeng Zhao claimed the parent company doesn't have a headquarters because "Bitcoin doesn't have an office."

Binance Is A Cryptocurrency.

• _ The United States is the best for Peer-to-peer trade.
• _ Trading of cryptocurrencies.

Binance.US At A Glance

More Details About Binance.US's Ratings

Minimum trade

Binance.US has a minimum trade of $10.

Trading and transaction fees

Binance.US charges a flat 0.1% spot trading fee, which is lower than many other U.S. exchanges, including eToro (about 0.75% for Bitcoin trades) and Coinbase (which charges 0.5% for trading fees plus a flat fee of up to $2.99 per trade, depending on trade amount). For traders in a hurry, Binance.US also offers a 0.5% Instant Buy/Sell fee.

Binance charges an additional 4.5% for debit card transfers (unlike its global brokerage, Binance.US doesn’t allow credit card purchases). There are no fees for cash deposits or withdrawals by ACH bank transfers, while bank wire transfers are $15 per transaction. Fees for cryptocurrency withdrawals differ by cryptocurrency; withdrawals of Bitcoin cost 0.0005% and a minimum withdrawal amount of 0.001 Bitcoin.

Number Of Cryptocurrencies

Binance.US offers the purchase and sale of nearly 60 cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Chainlink, Dogecoin, and other popular digital currencies. (Want to know more? Understand what cryptocurrency is and how it works.)

Crypto-To-Crypto Trading Pairs

Binance. Cardano (ADA), Bitcoin Cash (BCH), Binance Coin (BNB), Ethereum (ETH), Chainlink (LINK), Litecoin (LTC), Uniswap (UNI), VeChain (VET), and Tezos are presently available as crypto-to-crypto trading pairs in the United States (XTZ). Many other cryptocurrencies can be exchanged for the stablecoins Tether and Binance USD ($1 BUSD always equals USD 1).

  Trust Wallet is the official wallet for Binance users, free software for storing Bitcoin that has received great ratings on Google Play and the App Store. Users, on the other hand, are free to utilize their preferred cryptocurrency wallet.

Digital Wallet Options And Security

All US dollar deposits at Binance.US are maintained in custodial bank accounts and are protected by the Federal Deposit Insurance Corp. for up to $250,000 in the event of a bank collapse. However, unlike stock brokerages, cryptocurrency exchanges such as Binance.US are not protected by the Securities Investor Protection Corporation, which covers investors up to $500,000 in total cash and securities loss in the event of a brokerage collapse, improper trading, or theft.

There have been no known breaches at Binance.US, however, hackers stole 7,000 bitcoins worth $40 million from the global Binance site in 2019. The corporation stated that it compensated all affected users in full.

There have been no known breaches at Binance.US, however, hackers stole 7,000 bitcoins worth $40 million from the global Binance site in 2019. The corporation stated that it compensated all affected users in full.

Mobile App

Binance.US will update its mobile app in December 2020 to offer live price tracking, the option to automate regular purchases, and more configurable features. Much of the functionality of the desktop site is replicated in the mobile app.

Customer Support Options

Binance customer service can only be reached by email.

Other Features You Should Know

Binance offers peer-to-peer trading. The OTC portal in the United States enables direct trading between buyers and sellers. Although there are no transaction fees, users are charged the difference between the purchase and sell prices. Furthermore, the minimum trading value is large, at $10,000.

Three trading platforms are available: Binance.US employs the same technology as the global platform and provides three trading platforms for peer-to-peer trading: Basic, Advanced, and OTC. Binance.US recommends that novice users begin with the primary trading interface, which nevertheless offers experienced traders information such as current price, 24-hour price performance, and trading volume.

Is Binance.US Right For Yuu(o)?

Binance.US offers a diverse range of cryptocurrencies with one of the lowest trading fees among the cryptocurrency exchanges reviewed by NerdWallet. The popular global site features the same trading interface as the US site, if not a larger assortment of cryptocurrencies and crypto-to-crypto trading pairs.

Regardless of where you opt to make your purchase, keep in mind that investing in cryptocurrencies such as Bitcoin is highly speculative and notorious for its volatility. Never invest more money than you can afford to lose.

Is Binance Safe?

Though Binance was hacked for $40 million in early 2019, the exchange responded quickly and paid anyone harmed by the theft through Binance's Secure Asset Fund for Users (SAFU). SAFU is a cold storage wallet that stores enough funds to compensate for user losses. Since then, there have been no incidences.

Sometimes it’s actually better to have exchanges experience these sorts of incidents so that you can see how they handle it. In the aforementioned case, Binance passed with top marks.

Binance offers all the expected security features including two-factor authentication and universal factor authentication as added security.

Binance Sign-Up Process

Signing up for a Binance Exchange account is simple, and there are two types of accounts to choose from. Unverified accounts:

On the Binance homepage, click the Register button:

• 1. Enter your email address.
• 2. Make a password
• 3. Agree to the Binance Terms of Service
• 4. Click the "Create Account" button.
• 5. Send an email to confirm your registration.

Follow the same steps as above for a verified account, then:

• 1. Sign in to your account. 
• 2. Navigate to the User Center and select Identity Verification.
• 3. Select Personal 
• 4. Enter your information
• 5. Select an ID type, such as a passport or driver's license, for document verification.
• 6. Photograph or upload a file of your document
• 7. Take a selfie. 
• 8. After uploading the necessary documents and photos, click confirm.
• 9. Binance will then evaluate your submission as quickly as possible.

You will receive an email once your account has been verified. Be sure to check out the latest Binance promos.

Does Binance Offer FOREX Or CFD Trading?

Binance does not provide typical Forex (foreign exchange) trading since it lacks access to the volume of currency pairings that a Forex exchange provides (such as eToro offers). Binance has over 50 currency pairings, but several Forex-only exchanges have thousands.

Binance CFD (Contracts for Difference) trading, on the other hand, is fairly controversial in the crypto sector, since many prefer to possess local assets that they can withdraw to a personal wallet. CFDs do have the benefit of being extremely liquid.

Finally, there is a Binance Futures market for those looking for other trading choices. Users can open long or short contracts on any asset they want in the future market (also known as derivatives).

Binance Accepts Cryptocurrency.

Many of the top ten assets can be purchased directly using fiat or credit cards, with even more available for exchange. Here are some of the assets that can be purchased directly:

1. .Bitcoin Cash (BCH)
2. .Binance Coin (BNB)
3. .Tezos (XTZ)
4. .TrueUSD (TUSD)
5. .Tether (USDT)
6. .Bitcoin (BTC)
7. .Ethereum (ETH)
8. .Ripple (XRP)
9. .Binance Coin (BNB)
10. .Litecoin (LTC)...

Cryptocurrencies Available On Binance

Many of the top ten assets can be purchased directly using fiat or credit cards, with even more available for exchange. Here are some of the assets that can be purchased directly:

1. Bitcoin Cash (BCH)
2. Binance Coin (BNB)
3. Tezos (XTZ)
4. TrueUSD (TUSD)
5. Tether (USDT)
6. Bitcoin (BTC)
7. Ethereum (ETH)
8. Ripple (XRP)
9. Binance Coin (BNB)
10. Litecoin (LTC)....

Binance Exchange offers support for over 174 coins and tokens if you trade cryptocurrencies, including:

1. Bitcoin SV (BSV)
2. Chainlink (LINK)
3. EOS (EOS)
4. Cosmos (ATOM)
5. Stellar (XLM)
6. Cardano (ADA)...

In terms of features, Binance is hard to beat. It is the world's largest cryptocurrency exchange and has low fees. But that doesn't mean Binance is for everyone. Furthermore, it is not even available in the United States.

If you're concerned about security, you might consider using one of the more regulated exchanges, such as Kraken or Coinbase Pro.

Finally, if you live in the United States, you should look into Binance.us. It has far fewer features than the international Binance, yet it has a comparable interface. 

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