Are you looking to get involved with the leading global crypto exchange? Our latest Binance review will enlighten you as to how you can achieve this. Binance dominates the minds of avid crypto enthusiasts the world over.
Our latest coverage is here to address any queries you might have relating to this popular cryptocurrency exchange. With 600+ digital assets on offer, it’s not a bad idea to gain some insights before you jump right in. All you need to do is keep reading for more!
Binance: Pros & Cons
- Largest cryptocurrency exchange
- Intuitive trading app
- 600+ cryptocurrency options
Much like with our CEX.IO review, we have looked into the general feel of the platform. Binance has certainly hit the nail on the head in terms of its design and appeal. The yellow and white color scheme has become synonymous with the exchange. You will find that the overall layout and high-speed functionality facilitates a seamless trading experience. This is complemented further by the innovative mobile app on offer.
Binance has a daily trading volume of tens of billions of dollars. It tends to exceed $100 billion dollars on certain days. The platform boasts major liquidity pools, while the number of active users contribute to the fact that Binance is certainly the largest online crypto exchange in the world.
There have been several regulatory issues relating to the platform. The company has done little in certain regards to attain accredited financial licensing in various geographic areas. In actual fact, this has led to Binance being barred from operating in the US. It has come under scrutiny in other countries such as the UK too. The Financial Conduct Authority ordered the platform to halt all activities in the UK in 2021. The exchange has managed to obtain valid licenses in certain financial hubs though. We look forward to seeing how the exchange will approach shedding itself of any doubts from major authorities.
How to trade – get started today!
Binance is a platform which offers exciting crypto trading options. It also acts as a crypto lending platform amongst a multitude of other services. If our Binance review does indeed appeal to you, we are confident that you will be keen to sign up. If you are wondering how to trade using the exchange, then you can simply utilize our step-by-step outline below. Getting started with Binance is relatively straightforward. There is no need to feel that the process is too daunting to undertake.
1. Sign up with Binance
You will need to head on over to the Binance official platform. From here, you will be able to click on the ‘Register’ tab, which is bright yellow and located top-right of your screen. Bear in mind that you can also download the Binance app in order to sign up. You can simply scan the barcode on the homepage using your mobile device.
Start the registration process and enter all your personal information. Link your mobile number so that you are able to use two-step authentication. This will ensure that you have complete control over your account.
2. Complete the verification (KYC) process
You will need to complete the verification process by providing the Binance platform with a clear ID copy. This enables the exchange to verify your identity and ensure that it complies with regulatory requirements.
3. Fund your Binance trading account
Once your account is up and running, link a payment method so that you can buy cryptocurrency. You can also use an external wallet to fund your Binance trading account. Make sure that you read the relevant payment conditions so that you avoid any discrepancies.
4. Assess markets and start trading
Once your account is funded, you will be able to start utilizing the full extent of the platform. Take your time to assess different markets and figures. There is a whole world of cryptocurrency trading opportunities on Binance exchange.
Binance offers customers the chance to fund accounts using several different options. It is important that you assess these different payment methods so that you choose the right option for you. It is possible to fund your account using your bank card, bank transfer, or buy using Bitcoin to buy altcoins. In order to do so, you will need to link your account to your preferred payment method. Deposits are instant, while there are no fees attached to deposits into Binance trading accounts. You will find that small withdrawal fees are charged by the platform. You are also able to buy/sell crypto directly with other users using the P2P trading platform.
It is worth noting that you cannot store crypto using a built-in Binance wallet. If you are looking for a way to safely store your holdings, then bitstacker.com has you covered. In addition to our Binance review, our latest guide to the best crypto hardware wallets will ensure that you find a secure option for your digital assets. There is never any need to opt for a mediocre platform when you want to protect your funds.
An extensive cryptocurrency exchange such as Binance can be slightly overwhelming at first. There is no doubt that it takes a while to become acquainted with all the online features and trading services. We have found that informative support options can help significantly in ensuring all customers feel looked after and at home on the platform. Plus, there is no substitute for responsive support if ever you experience an issue with your trading account. As such, our Binance review looked into the support on offer and whether it meets our standards here at bitstacker.com.
The online platform boasts an extensive FAQ section which should be your first port of call. There is a raft of information on offer which addresses just about every aspect of the exchange; from the services and fees to the digital assets on offer as well as the latest price updates and market movements. You will also be able to use the live chat feature. Simply click on the icon located at the bottom-right of your screen. This enables you to get in direct contact with the Binance support team. It’s an effective way to raise any concerns or issues that you might be experiencing.
A number of cryptocurrency exchanges continue to operate unabated – even without a proper license or regulatory oversight. These checks are put in place so as to ensure that platforms offering financial services maintain a high level of oversight. It is clear that Binance does indeed operate with relative freedom in a number of territories – regardless of increased calls for tighter regulatory oversight. Our Binance review has found that the exchange is licensed in certain countries and this may well set the precedent for future regulatory acceptance across the board.
At the time of writing, the exchange is regulated in Canada and Bahrain and has also been recognized as a legitimate crypto exchange in France. This means that the platform is doing its bit to meet financial regulatory standards and ensure fair practices – all of which bodes well for you as the end user.
The security of the platform includes a number of different features. Two-step authentication is an important feature which provides relative oversight of accounts, while the platform is able to bar devices from accessing the exchange. There are address whitelisting features as well as insurance on certain balances.
Reputation and customer feedback – what do users have to say?
Our latest Binance review has been crafted using an impartial assessment tool. This means that our experts do their best to avoid letting personal feelings affect the overall analysis. It is vital that you use objective reviews as part of your process of finding the best possible exchange for your crypto interests. Having said that, we also feel that gaining a deeper understanding of what peers have experienced is invaluable.
Our Binance review has noted that many users, especially newcomers, feel that the platform may prove tricky to get a handle on at first. However, once you are able to find your feet, the exchange offers a plethora of trading opportunities complemented by innovative tools and features. There is a reason why Binance is the biggest exchange in the world. It certainly has incorporated a number of key elements which satisfy users and keep them coming back.
Our latest Binance review has come to an end. The murmurs that have swelled up around the exchange regarding regulatory adherence – or lack there-of – continue to have somewhat of an affect on the overall reputation of the platform. However, it is clear that the exchange is looking to solidify itself at the top of the rankings as the largest, and most popular, crypto platform around.
In terms of selection and overall services, you will be hard-pressed to find a better platform to sign up with. It has even staked its claim as the best crypto mining platform that doubles up as an exchange, too. Our latest Binance review feels that this crypto exchange is definitely worth considering – as long as you don’t live in the US!