Binance Review

Learn How to Use Binance, What Binance Fees Are, How to Trade on Binance, and Much More in This Comprehensive Binance Review. Review

⭐⭐⭐ Also, don't miss out on the exclusive referral bonus ⭐⭐⭐

Save 20% on all fees

Last Updated: July 27, 2022

0
Our Score
4.55/5
Binance is a top cryptocurrency exchange around the globe. Binance, the world’s biggest blockchain network, has a long history of offering excellent service to its consumers; founded in the early days of cryptocurrency trading. Binance’s referral program was one of the factors that contributed to its early success. The referral program enabled users to earn cryptocurrency by referring others to trade on the platform. Here, we’ll go over everything there is to know about Binance promotions and how to claim them.

Pros:

✅ Low Trading Fees
✅ Seamless Mobile App
✅ Huge List of Features
✅ Demo Account for Beginners
✅ More than 500 different cryptos are available
✅ Two-factor authentication
✅ Emphasis on security and KYC

Cons:

❌ Geographical Restrictions
❌ Limited Instruments Compared to Rivals
❌ Lack of Support for Beginners

Table of Contents

What is Binance?

Binance is the world’s biggest blockchain and cryptocurrency infrastructure provider, with the largest digital asset exchange volume as part of its financial product suite. The Binance platform, trusted by millions worldwide, is dedicated to increasing users’ financial freedom and features an unrivaled portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment, and incubation, decentralization and infrastructure solutions, and more.

What is Binance.US?

Binance.US is an American affiliate of Binance, the world’s largest cryptocurrency exchange in terms of trading volume, which was formed in China in 2017. In 2019, the original platform stopped accepting U.S. users and established a cooperation with Binance.US, a platform located in the United States.Binance.US is not available in all U.S. states.

Best crypto referrals -

REFERRAL CODE

How to claim exclusive sign up bonus from our referral code

The lowest fees are one of the main factors contributing to Binance’s popularity as a referral code/affiliate scheme, as was already discussed before in this article. In essence, when you create an account, you are given a special affiliate referral code or referral link. Once you have this code, you can use it to create a referral link and share it with friends and other users.

People can receive a bonus when they open a new account through the Binance referral link. By using the offered referral link or referral code, users can benefit from the referral incentive. You can therefore save 20% on all fees in Binance.

There is no longer any hassle when you use our link or referral code because the “Referral Code” field will be automatically filled out in your browser. Simply complete the remaining steps of the registration process.

Be aware that you can combine your Binance referral code with either of the two available methods here: email or mobile. Because so few exchanges provide both of these benefits, Binance stands out from the competition thanks to its versatility.

Ensure that you have read and understand all of the T&Cs before continuing. Before you start your trading experience with them cheerfully and successfully, make sure you are adequately informed about all the conditions.

An Overview of Binance Futures Products & Features:

a. USDⓈ-Margined Futures Contracts – Supports perpetual and delivery contracts and settled in USDT or BUSD. Read more about USDⓈ-margined contract specifications.
b. Coin-Margined Futures Contracts – Supports perpetual and delivery contracts and is settled in cryptocurrency. Read more about Coin-margined contract specifications.
c. Binance Leveraged Tokens – An innovative product that allows users to gain increased exposure to a specific crypto asset without worrying about liquidation risk. Read more about BLVTs here.
d. Binance Options – It simplifies options trading for retail users. Users can maximize profits with the built-in leverage offered while minimizing downside risk. Learn more about Binance Options here.
e. Cross collateral – an innovative feature that allows users to collateralize their crypto assets to borrow against another crypto asset. Read more about Cross Collateral here.
f. Leaderboard – a fusion of social networking and cryptocurrency trading that allows users to view and follow the positions of the best traders on the platform.
g. Battle – gamification of cryptocurrency trading by placing traders head-to-head in a contest to see who is the most profitable over a certain period

Smart Pool on Binance

Miners can increase their profits from mining activity by using the Binance Smart Pool. The Smart Pool service will swap hash rates automatically to mine different currencies using the same algorithm.
They also receive a minimum guaranteed income larger than the full pay per share (FPPS) income. So, if you are interested in mining, we urge that you check out their Smart Pool for great returns.

Binance Earnings (Savings)

Binance Earn serves as your crypto savings account, providing several possibilities for earning passive income from your crypto assets. Numerous savings choices depend on your preferred amount of risk, period, and returns.
Binance Referral Code
If you are new to Binance and looking for a referral code, our exclusive Every Bit Helps referral code will provide you with 20% off trading fees, plus a $100 Bitcoin sign-up bonus.

Trust Wallet

Binance Trust Wallet is the exchange’s official digital wallet (although you can use/connect other wallets to Binance), and it was the exchange’s first acquisition. Over 10 million people trust the secure, user-friendly wallet, which simplifies the process of buying, storing, and earning cryptocurrency.

Fees

One of Binance’s most enticing characteristics The U.S. is well-known for having cheap trading fees. While competitors’ trading fees start at 0.50 percent, Binance charges maker/taker fees. The percentages in the United States range from 0 to 0.01 percent. The instant purchasing cost is 0.50 percent. Users who hold BNC also receive a 0.25 percent trading cost reduction. Binance.US, despite its modest trading costs, imposes a somewhat high 4.5 percent fee for debit card deposits. Users should deposit funds using ACH or wire transfer, all free. ACH withdrawals are also free, while wire transfers cost $15 for domestic transfers and $35.00 for international transfers.

Security

Account holders must also validate their identities before they may purchase, sell, or exchange cryptocurrency. Although the verification procedure can be time-consuming, it is in place to prevent fraud and other illicit actions. Binance.US provides its users with industry-standard security features.
Users must set up multi-factor authentication in addition to identity verification, and face recognition is an option for mobile. You can also utilize your online dashboard to whitelist crypto wallet addresses and easily view the devices you’ve used to log in.

Cryptocurrencies Available on Binance

Binance offers a selection of over 600+ cryptocurrencies. Users can buy, sell, and trade popular assets like Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Solana (SOL), and Cardano (ADA), as well as lesser-known ones like VeChain (VET) and Orchid (OXT).

Binance Smart Chain

Binance Chain (B.C.) and Binance Smart Chain (B.C.) are blockchain platforms created by Binance. The BC was created to make trading more efficient, addressing many speed-related challenges that plagued other exchanges. Although smart contracts were an option, the B.C. was not scalable.
Binance launched the Binance Smart Chain to address this issue (BSC). BSC is now seen as a speedier Ethereum alternative with fewer costs. It was designed as an ecosystem for developing and running decentralized apps (DApps) with scalability and interoperability in mind. It works in tandem with the Ethereum Virtual Machine (EVM) environment.

Binance Lite

Given the platform’s popularity, Binance launched Binance Lite in February 2021 as an easier way to acquire cryptocurrency. This was created for folks who want to buy, swap, and sell cryptocurrency as easily as possible.
Binance Lite is a simpler version than Binance Pro. It was designed to make purchasing and selling cryptocurrency easier for newcomers. Lite Mode is the default setting when downloading the Binance app for Android or iOS. Users with more experience, however, can switch to Professional mode, which retains all Binance essential features.

Liquid Swap Binance

Binance has developed its centralized automated market maker (AMM) to compete with UniSwap. AAMs were developed to address liquidity issues on decentralized exchanges. Binance determined that it was time to enter this market. BSwap/Binance Liquid Swap (the name of their new decentralized exchange) allows users to swap and supply liquidity for an annual percentage yield and earn a portion of the protocol’s trading fees.

Verdict: Should you use Binance?
We have been utilizing Binance since 2017 and have personally used the bulk of its goods since then. Its feature set caters to a wide range of trader audiences, and its rock-bottom trading fees are difficult to beat. Overall, Binance ranks incredibly high in dependability, security, cost, and customer support, and there are few better options for a cryptocurrency exchange. Binance is the New York Stock Exchange for numerous cryptocurrencies, and as such, regulators will be examining what they do and how they behave. It’s well worth evaluating if the trade is legal in your country.

Why we Recommend:

✅ Low Trading Fees
✅ Seamless Mobile App
✅ Huge List of Features
✅ Demo Account for Beginners
✅ More than 500 different cryptos are available
✅ Two-factor authentication
✅ Emphasis on security and KYC

Drawbacks:

❌ Geographical Restrictions
❌ Limited Instruments Compared to Rivals
❌ Lack of Support for Beginners

0
Our Score
4.55/5

(1279 User Reviews)

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