The platform offers two options for the traders – basic and advanced. Neither of the options is, in fact, beginner friendly and it is recommended that only experienced users use Binance.
The options are basically the same, but the advanced option offers a much better insight into statistics and is good for those who like to analyze everything.
There is only a web-based platform for this service and it covers Bitcoin, Ethereum, Litecoin and over 40 other altcoins.
There is not much information on the website regarding the safety of the platform. However, the user community is generally more than satisfied and put a lot of trust into this platform. There have been no severe safety issues so far.
What are the Users Saying about Binance?
Binance has a big community that has a generally positive opinion about this platform. So far, no bigger incidents have been recorded. Due to the great team, led by Changpeng Zhao, the users seem to put great trust in the company.
Binance is one of the newer crypto exchange platforms which was founded in China in 2017. Despite it being new and high competition, Binance has already received a lot of positive reviews.
To sum up, the platform such as Binance is relatively new, yet managed to win the trust of the many and even become one of the best alternatives to Bittrex. It is a sad thing that the platform does not focus on fiat currencies and that the only main aspect is cryptocurrency exchange.
If you are an experienced user and would like to dig deeper into the beautiful and exciting world of cryptocurrency exchange, Binance (the advanced platform option) would be a perfect platform for you.
Verification is not a necessary thing on Binance. As soon as you make an account, you will be
able to deposit/withdraw up to 2BTC/day. However, that number can significantly rise if you
verify your account.
Verification requires you to upload a picture of your ID, Passport or Driver’s License. You
also need a selfie with your ID. There is also a field that requires your passport ID.
As previously mentioned, withdrawing limits are 2BTC/day for the unverified accounts. When verified, the withdrawal limit goes up to 100BTC/day. On the other hand, there are no limits on deposit, no matter whether your account is verified or not.
Since Binance was an ICO (and not itself displays many ICOs), you can use their token when
trading in order to get a 50% discount. Even when there is no discount, Binance is still one of
the platforms with the lowest fees in the industry, charging on average a 0.1% per trade.
How Do I Withdraw My Money from Binance?
Once you log-in to the website, click on the “funds” button in the header and go to “Deposits/Withdrawals”. Then, choose the coin that you want to withdraw and click the yellow “withdrawal” button. Input your address, tag, and the amount that you want to withdraw and click “Submit”.
You will receive a confirmation email to confirm the transaction.
FIAT Deposit fee
CRYPTO Deposit fee
Fiat Withdrawal fee
Crypto withdrawal fee
according to the blockchain conditions
There is a public rest API for Binance on GitHub which provides detailed information about
their APIs, along with the general information necessary for those interested in their APIs.
other withdrawal possiblity
CRYPTO CURRENCYrate (Live via API)
FIAT Withdrawal limit
Crypto withdrawal limits
Verification needed for crypto trade
Verification needed for fiat trading
Turnaround amount 24h
BTC; ETH; TRX; GTO; LTC; VEN XRP; NEBL; APPC; NANO; ICX ETC; ZRX; BCC; NEO; BNB; ADA POE; HSR; INS; EOS; XLM; LSK VIBE; WTC; PPT; WAVES; OMG BRD; XVG; MTL; IOTA; XMR; CND IOST; RPX; WAB; BLZ; ELF; ADX MANA; CHAT; ZEC; KMD; LINK TRIG; LEND; GXS; KNC; NULS; BTG DGD; STRAT; GAS; QTUM; SALT BCD; ALON; ENG; DASH; BTS FUN; AST; REQ; ARN; OTS; SUB GVT; ENJ; TNB; BQX; POWR; QSP CTD; FUEL; DLT; ARK; WINGS VIB; LRC; AE; STORJ; BAT; BCPT DNT; EDO; STEEM; SNT; SNGLS RLC; MTH; CMT; OAX; AMB; TNT VIA; MOD; YOYO; CTR; RCN; RDN MCO; XZC; NAV; PIVX; BNT; EVX SNM; LUN; ICN; MDA
- Fee one of the lowest in the industry
- ICO listings
- Two different platform types: basic and advanced
- Users put a lot of trust into it
- Multiple language support, focusing mainly on Chinese and English
- No fiat currency transfers, only cryptocurrency
- The verification process requires a lot of information