Binance is a cryptocurrency exchange that focuses on all kinds of traders. It's a perfect place to start as a beginner, but targeting the experienced cryptocurrency trader. They use different layouts for each type of trader. You can compare an exchange with a foreign exchange bureau where you can exchange one cryptocurrency for another to make a profit. The most common method is to exchange Bitcoin for one of the cryptocurrencies offered by Binance. In addition to Bitcoin, you can also ...
exchange for Ethereum, Binance Coin and USD Tether (stablecoin) and dozens of other currencies. The Binance offer is very wide, but not all cryptocurrencies are available on this exchange. At the moment there is no exchange where you can buy all cryptocurrencies in the world, because there are simply too many cryptos in circulation and not all cryptos are equally safe. On top of that dozens of cryptocurrencies are created every day and it is impossible to show them all on one exchange. The offer of Binance is regularly expanded and this is often accompanied by a nice competition where you can win free tokens based on trading volume. Binance also launches IEOs where new projects (coins) can launch their coin. Binance started as an exchange-only, but offers nowadays more and more services. You can use the platform for cryptocurrency staking, saving, lending, future trading and more. For beginning users it can be quite complicated to buy cryptocurrency, especially on an exchange like Binance. For this reason we made several tutorials and instructional videos to explain it as clearly as possible. |
The advanced view uses a dark theme and makes the trading charts larger and the latest trade prices are displayed on the right with the buy sell boxes underneath.
Which you choose is a matter of preference really, I like the lighter colored basic view and find the layout a little easier to use.
To use the exchange, users will first have to create an account. The process behind this is fairly simple and straight-forward and you don't have to verify your account for level 1 which is a 2BTC daily withdrawal limit.
For level 2 which allows up to 100BTC per day, you need to upload a photo ID and wait till you are approved. There are higher limits still, but you will need to contact them directly to arrange that.
Time for verification can vary depending on how busy the site support staff are, so make sure to plan ahead if you wish to withdraw larger amounts and make sure this step is complete before depositing and trading large sums on the exchange.
A crypto exchange guide must provide reviews of all of the crypto exchanges out there, so that you can find the right one for you. This review of Binance consists of four parts: general info, fees, deposit methods and security.
Binance is an exchange previously based in Hong Kong and is one of the absolute giants in the industry. It launched in July 2017 and has then really developed into the market leader among cryptocurrency exchanges. The business department at Binance did however ask us to specify that the company was based in Malta, and not Hong Kong. Malta is together with Estonia and Gibraltar one of the few countries in Europe that has developed explicit license requirements for cryptocurrency exchanges.
Binance regularly places itself on no. 1 or at least top 3 in terms of 24 hour trading volume, meaning that it is regularly the most (or at least one of the most) trusted exchanges in the world. On 14 April 2020, right in the middle of the crisis with COVID-19, Binance had a reported 24 hour trading volume of USD 4.0 billion (the highest in the world) and a 30 day trading volume of USD 139.7 billion (also the highest in the world). Binance is the dragon among dragons when it comes to crypto exchanges.
On 17 September 2019, Binance officially launched their futures trading. Futures are also known as option contracts. An option contract is a contract that gives the holder of the option a right - but not an obligation (thus an 'option') - to buy (call option) or sell (put option) a certain asset at a certain price. Certain options give you the right to exercise the option whenever (before expiry of the contract), and other options are only permitted to exercise during a specific date. The former are known as American Options, and the latter are known as European Options.
Binance-users have the opportunity to choose between two different trading alternatives. The first one is called basic, and does not cater as good to people interested in more detailed technical analysis as the advanced version does. None of them can really be considered extremely easy-to-use though. The basic version's trading view looks like this:
In the advanced version, the charts take up more space. As in the basic version, the trade history is on the far right. The buy and sell boxes however, are here in the low right corner (instead of in the bottom center as in the basic version). It is of course up to each individual to decide which trading view suits him/her best.
Binance supports a very large number of cryptocurrencies, several hundred of them. This makes it one of the exchanges in our Cryptocurrency Exchange List with the most supported cryptocurrencies overall. Apparently, the platform also has some form of quality assurance system. This system ensures that projects that have once qualified to be listed but later fails to meet such qualification requirements are delisted. For instance, on 15 February 2019, Binance decided to delist the following five cryptocurrencies: CloakCoin, Modum, SALT, Wings and Substratum.
In an email to its users on 14 April 2020, Binance announced the release of its OTC-desk. With an OTC Trading Portal (OTC is acronym for Over The Counter), you can execute larger trades without any risk of 'slippage', which is what we call price movements due to large transactions.
In this OTC Trading Portal, there are no trading fees and quick settlement. The minimum trade size for the OTC Trading Portal is an equivalent value of 10,000 USDT, and 25 different coins and tokens will initially be available for trading. Users simply need to have a KYC verified (level 2) account on Binance.com to begin trading.
Binance has for a long time accepted US-investors for trading at the exchange. However, on 13 June 2019, they announced that they will launch a an American version of the trading platform. The American version will be an all-out fiat-to-crypto centralized exchange. On 12 September 2019, they followed through on the announcement and restricted US-investors from using the main Binance-platform:
'After 90 days, effective on 2019/09/12, users who are not in accordance with Binance's Terms of Use will continue to have access to their wallets and funds, but will no longer be able to trade or deposit on Binance.com.'
The CEO of Binance, Changpeng Zhao, tweeted about this and said 'short term pains may be necessary for long term gains'.
If you're from the US and you need to find an exchange that will accept your trading in the future as well, we recommend you to check out our Cryptocurrency Exchange List
This exchange has a very strong team in all possible aspects. The CEO of Binance is actually one of the forefront figures of the entire cryptocurrency industry (together with Satoshi Nakamoto and Vitalik Buterin).
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How to use this discount coupon Binance?
The Binance coupon can appear in two ways, a code to enter in the shopping cart during checkout, or a specific link that applies an automatic promotion or redirects to a special offers page. Here's a walkthrough to understand how to use the discount coupon Binance:
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An action code or promotional code from Binance Can be used in two ways. The first way is by simply clicking on "SHOW CODE", copy the code and paste it into the shopping cart of the webshop. The other way is by clicking on 'VIEW OFFER', you will then be redirected directly to the webshop and the discount will be applied automatically.
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Currently, 42 promo codes and deals available for Binance:
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In the last 30 days, 279 members have saved on average 50% OFF at Binance.
To use a Binance coupon, copy the related promo code to your clipboard and apply it while checking out. Some Binance coupons only apply to specific products, so make sure all the items in your cart qualify before submitting your order. If there's a brick-and-mortar store in your area, you may be able to use a printable coupon there as well.
There are currently 100+ Binance online coupons reported by Binance. These deal offers are available online, including 42 coupon codes. Today alone, users have collectively cashed in on offers.
You can save money at Binance by using one of the current Binance coupons from 1001couponcodes.ca. Right now, the most you can save is 50% off.
The Binance promo codes that are currently available end when Binance sets the coupon expiration date. However, some Binance deals don't have a definite end date, so it's possible the promo code will be active until Binance runs out of inventory for the promotional item.
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Coupon code Binance get 20% more on crypto purchases | 20% |
Binance discount coupon 50% on CASHBACK = 10% on trading fees + 40% of your | 50% |
Sign up to Binance and earn 10% of CASHBACK at trading rates | 10% |
Coupon Binance guarantees 5% CASHBACK in the value of trade rates forever | 5% |
Receive 40% of your friends' trading fees when you invite them to trade on Binance | 40% |
Discount Codes | 42 |
Best Binance Coupon | 50% |
Working Coupon Codes | 42 |
Redeemed Codes | 279 |
Binance is currently the world's largest cryptocurrency exchange platform. Not only is it the most popular platform at the moment, but also the one with the largest real daily trading volume and the easiest to use. Using an exchange is not as easy as for example Bitvavo or Bitladon, but if you use the Binance tutorials from CryptoTips you will soon understand how to easily exchange cryptocurrency for another cryptocurrency. Read in our Binance review more about this exchange, what it is, its history, verifications and if it's safe to trade on Binance. If you are looking for a Binance alternative, we recommend the Bitvavo Exchange. You pay nearly the same fee (Binance maximum 0.10% and Bitvavo maximum 0.25%). These fees are negligible when compared to other brokers, where the fees are around 2%. The advantage of Bitvavo is that you can pay with easy payment methods like: credit card, SOFORT, GiroPay, MyBank, iDEAL and Bancontact. It is also very easy to do a withdrawal to your bank account. If you click on the Activate discount button below, you can also trade the first € 1.000 at 0% commission.
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