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Binance Trading Platform:- My Amazing Review.image
This is the most comprehensive and in-depth review of Binance!
Binance is a global cryptocurrency trading platform that supports over 500 crypto pairs.image
It earned the world’s biggest crypto trading platform by trade volume not long after it launched.
Currently, τι κάνουν το τμήμα οικονομικών Binance provides a plethora of services. In this review, I will teach you all there is to know about Binance.
I will also give you a free tutorial on how to trade profitably on Binance. So, If you are ready…let’s get started!
Binance Review Summary.
To gradually take you through this review, here is what I will cover;
Without hesitation, let’s get down to business .
1. Company Overview.
The word Binance is based on the combination of the words ‘Binary and Finance’.
It is a popular cryptocurrency exchange founded in China and launched by a developer Changpeng Zhao in July 2017.
Binance is registered in Malta but later moved its headquarters to Tokyo, Japan due to the Chinese regulations on Cryptocurrency.
As a cryptocurrency exchange, it aims to improve the future of crypto finance.
At the time of this post, Binance is still one of the leading cryptocurrency exchanges.
It currently supports over 400 altcoins and offers users the opportunity to trade a wide variety of digital assets globally.
Binance has an exchange token "BNB". The initial value of binance cryptocurrency exchange Coin (BNB) was around $0.1, but at the time of my writing, its value has appreciated to $42.36.
More so, on Binance cryptocurrency enthusiasts can raise funds from Initial Exchange Offerings (IEO) when they launch their tokens on Binance.
That is all I have for the "company overview"…if you want to learn more about Binance, then, you must keep reading.
2. Features of Binance.
Intuitive UI Plethora of tokens Low fees Increased security A host of trading services Hight trade volume Multiple payment methods Over 50 fiats listed Mobile app.
In the next section, I will walk you through all the services offered on Binance. Let’s get going!
3. Binance Services.
Binance offers a lot of services on its exchange, but I will talk about 5 of its services here. I will discuss other services on Binance in the later part of this article.
These 5 services are;
Buy Crypto Markets Trade Derivatives Wallet.
.Buy Crypto.
This is where you can buy or sell cryptocurrencies for over 50 fiat currencies.
You can buy or sell crypto on binance cryptocurrency exchange in three different ways that are convenient for you;
Credit/Debit Card: This option allows you to buy cryptos using credit/ debit cards. You can buy up to 19 cryptocurrencies or sell 22 cryptos using this option. Third-Party Payment: Your transactions here are being carried out through a selected payment gateway (either Simplex or Banxa for now). The supported cryptos here are the same as the Credit/Debit card option.
Note: These two options are not available for all the listed fiat currencies.
P2P Trading: This is where you buy cryptos using the Binance escrow system. This option allows you to buy 3 cryptos and 3 stable coins with over 100 payment methods and it is available for all the listed fiats.
.Markets.
This is the section that shows the Last Price, 24h Change, 24h Volume, and Market Cap of all the markets available for trade on Binance.
Binance has three categories of markets; you can see these markets demarcated with a red box in the screenshot above.
These three markets also have sub-divisions of markets. For instance, you can see the sub-divisions of Spot Markets inside the blue box on the screenshot.
.Trade.
Clicking on this menu will display a list of services offered by Binance under it. Let’s look at these services from the screenshot below.
Talking about the first three listed items on the "Trade" list, they are basically, the three different trading interfaces available on Binance.
Basic: This interface shows you the easiest way of converting your crypto. It is most helpful for binance denarnico newbies who are not yet familiar with crypto trading tools.
Let’s us see what this interface looks like below;
Classic: This interface displays all the categories of markets on Binance with the charts, trade history, and order books.
Here is what it looks like;
Advanced: The advanced and basic versions are very similar. But the distinguishing factor is that the advanced version gives you advanced trading tools and indicators.
This is what the advanced version look like;
Margin: бинанце кмр Here you borrow funds from Binance to top your trading capital. This is what we often refer to as Leverage trading.
Note:
Margin trading is inherently riskier than regular trading but it allows traders to access greater sums of capital.
For binance jos instance; If I make 10%($10) trading at $100 per trade, I can make 100% ($100) at the same $100 per trade, if I applied the power of margin trading to 10X my trading capital.
The downside is that if a make a loss of 10%, my $100 is gone and I will have no capital to trade with.
OTC: This option helps to facilitate a "quote" for the trade of a large number of crypto at a cheaper rate. The option supports the buy and sale of over 20 cryptos with three listed stable coins.
.Derivatives.
On Binance, you can trade crypto derivatives. Crypto derivatives are financial contracts that have their values placed on underlying cryptocurrencies.
You do not own these crypto-assets; instead, you speculate on their price movement.
The screenshot above shows the derivatives contracts that you can trade on Binance.
Also read, What is Futures Trading to get a better grasp of how the derivative market works.
Wallet.
Binance has an exchange wallet. As you can see from the screenshot, these wallets are grouped according to the services they are used for.
You can transfer funds to and from these wallets, but you can only deposit and withdraw from your "Fiat and Spot" wallet.
Having gone thus far, let’s now look at the next section.
4.Currencies, Payment Methods and Supported Countries.
Currencies.
Supported Cryptos.
Binance supports over 450 cryptocurrencies; including the top 100 cryptocurrencies on coinmarketcap.com.
You can see some of the supported cryptos on Binance on the image displayed above.
Bianace supports over 50 fiats. Here is the list of the supported fiats on binance cryptocurrency exchange.
NOK UAH SEK SGB THB KZB LBP LKR MAD MXN NZD UGX MYR NGN AED ARS AUD AZN BGN BOB PAB USD BRL CAD CHF CLP CNY COP CZK DKK PEN UYU EGP EUR GBP GEL GHS HKD HRK HUF PHP VES IDR ILS INR JPY KES KRW PKR VND PLN ZAR PYG RON RUB TRY TWD SAR.
Payment Methods.
Credit/Debit Card Third-Party Payment ( Simplex and Banxa) Binance has over 100 payment methods available for the P2P market.
Supported Countries.
Binance is a global exchange which means that it is available worldwide. However, it prohibits 13 states in the US from using its exchange.
Notwithstanding, it has launched Binance.US to provide trading services to US citizens.
Unfortunately, individuals in states as Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont, and Washington are restricted from using Binance.US.
Taking a deep dive, let’s check out the fees on Binance.
5.Transaction Fees, Limits and Verification Requirements.
Transaction Fees.
The exchange’s transaction fees are relatively low and fair.
Here, I will be showing you the three important fees that you can incur on Binance.
Binance also sets its trading fee for BTC and BNB coin, based on a 30-days volume trade. These fees are scheduled under 10 VIP levels -VIP 0 to VIP 9.
For further clarification, we would be looking at the screenshot below;
Spot Trading USDT Futures For Coin Futures P2P Fee.

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