Binance is the largest crypto exchange in the world in terms of trading volume. The company offers hundreds of digital assets in more than 180 countries. Find below the detailed Binance review and check the users’ voice.
Binance is a cryptocurrency exchange founded in 2017 by Changpeng Zhao (known as CZ). It is known for being the largest DCE in the world in terms of the trading volume. The exchange offers a variety of services, regular spot exchange, margin trading and crypto derivatives. Binance has its own cryptocurrency – Binance Coin (BNB) that might be used for trading cryptocurrencies and paying fees on the platform (when using BNB for fees a user gets a discount). Binance USD (BUSD) is a stablecoin linked to the US dollar. Read the full Binance review to learn more.
Binance is the cryptocurrency exchange offering different services – exchanging fiat currencies for coins or coin-to-coin exchange. It gives its users an option to choose between basic, classic and advanced interfaces – for different trading preferences – depending on user’s experience in the cryptocurrencies market.
P2P Trading – An option that allows users for direct transactions without paying fees. Users can pick one of the offers available or post their own offer and wait for someone else to match.
Binance Wallet – A secure application for both iOS and Android, with an option for users not only to trade their cryptos instantly, but also to see the current prices on the crypto market and keep cryptos safe.
Binance USD (BUSD) – A 1:1 USD-backed stablecoin approved by the New York State Department of Financial Services (NYDFS).
Binance Coin (BNB) – The native coin of Binance Chain. BNB use cases include: fueling transactions on the Chain, paying for transaction fees on Binance Exchange (with a discount), making in-store payments, and many more.
Binance OTC – Off-exchange trading, providing great flexibility in terms of trade volume and exchange pairs.
Binance Card – The Binance Visa Card to be used at more than 60 million merchants worldwide.
Binance Mining Pool – A platform to optimize miners’ income when redirecting users to the most profitable crypto to mine at a moment.
Binance Stock Tokens – Tokenization of shares of the publicly listed companies. Tokens represents a share in a stock corporation.
Binance Academy – Educational materials for Binance users.
Binance Labs – Financing to industry projects that help grow the larger blockchain ecosystem.
Binance Launchpad – Services for the project teams to start their ICO
Binance Charity – Non-profit organization that enables charitable giving with cryptocurrency on its blockchain-enabled platform, providing transparent and immutable records of donations.
Binance offers various payment methods:
Binance accepts many currencies, including US Dollar, Euro, Pound Sterling, and other fiat currencies. One can also use a range of stablecoins e.g. Binance USD (BUSD), Coinbase USD Coin (USDC), PAXOS (PAX), Tether (USDT), and True USD (TUSD).
Binance fees are told to be one of the lowest in the industry.
To check the current rates, please check the Binance website.
Binance supports different cryptocurrencies (the options of buying/selling might be different for some countries). In company’s portfolio, a user might find the most popular tokens and many more. Those include:
Some currencies offered are subject to different trading options – some of the cryptos are available for sending only, some for sending and receiving, etc. and the service might differ by country.
Binance’s services are available in most of the countries in the world. The countries Binance does not offer its service in are those who are on the economic sanctions list. Users in the US might use dedicated service for Americans – binance.us. There is one also for Singapore.
Th scope of services might differ in countries.
Binance declares to be devoted to customers’ security. Here are some examples of security measures applied that we covered in our Binance review.
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