Binance exchange: registration and entrance to the official website, input and output, cryptocurrency trading, review and feedback

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Official website of the Binance binance.com.

Binance Futures platformbinance.com/ru/futures/

Binance P2P Platformp2p.binance.com

The Binance exchange (Binance or Bynens) is one of the most liquid and popular online cryptocurrency platforms in the world. Spot, P2P, OTC, futures trading with up to 20x leverage, options, cryptocurrency margin trading are available on the exchange website; staking, landing, farming, mining pool, liquidity pool, NFT. The crypto exchange has been operating since 2017, the main company is BINANCE Holding Limited. The Binance platform ranks first in the ranking of the best cryptocurrency exchanges in terms of trading volume, liquidity, traffic according to the Coinmarketcap service.

Now there is a special offer for new users with the opportunity to receive a bonus cashback voucher up to $50. You need to register on the page and complete tasks in the “Task Center” in your account. After completing them, you can pick up a voucher in the “‎Rewards Center” section.

Money for the development of the exchange was collected through ICO in July 2017. The CEO and founder of the Binance exchange is Changpeng Zhao. Having extensive experience, he assembled a team of highly qualified specialists, which allowed the crypto exchange to enter the top 3 in terms of daily trading volume in less than 5 months from the start. As of March 12, 2021, this figure is $31.3 billion. The Binance exchange showed a very sharp development and a large influx of new customers to the site, in connection with which, at the beginning of 2018, the registration of new accounts was closed for some time. Now this ban has been lifted, so you can register and trade from most jurisdictions, including Russia and Ukraine.

As part of the ICO, the Binance exchange released its internal token, Binance Coin (BNB). The initial emission amounted to 200 million. Every quarter, tokens are burned in the amount of 20% of the exchange’s profit. The process will continue until the number of tokens is reduced to 100 million. For example, on 10/18/2021, the 15th BNB burn was performed in the amount of $640,000,000. Its value as of 10/18/2021 is $532, and its market capitalization has exceeded $89 billion. Binance Coin Token (BNB) is used to reduce trading fees; participation in IEO, Launchpool; increase partner remuneration, etc. For example, now the trading commission on the spot market is 0.1% of the transaction, and when buying a BNB token – 0.075%. To enable the option to pay fees using the internal token, you need to go to the “User’s Dashboard” and activate the discount by purchasing Binance Coin in advance.

Name Price Market Cap Supply Change % (7D) Performance
1 Binance Coin
$283.78
$46,334,739,860.50 163276974.63 BNB
-1.67%

Binance cryptocurrency exchange website

The Russian language is available on binance.com, as the exchange is actively promoting in Eastern Europe. Verification is not required for work, but after it is passed, the restriction on the withdrawal of 2 BTC per day is removed. Depositing or withdrawing funds to the wallet balance of the Binance crypto exchange is possible not only in cryptocurrency, but also in fiat money. The Binance exchange works with currencies: USD, RUB, UAH, EUR, KZT, TRY and others.

Since 2019, you can buy cryptocurrency for fiat for verified accounts using bank cards. Since November, the Binance exchange has been working with the Russian ruble, hryvnia, tenge: you can replenish your account or withdraw funds using the AdvCash payment system. In 2020, you can buy cryptocurrency on Binance using a wallet in the Payeer payment system.

Also, you can buy cryptocurrency on other cryptocurrency exchanges (for example, on EXMO, Currency.com, OKEx, FTX, Cex.io), that have the ability to deposit or withdraw fiat (dollars, euros, rubles, hryvnia, etc.) or in cryptocurrency exchangers. And then transfer the crypto coins to the balance of the Binance exchange and trade.

The listing of the crypto-exchange includes 288 cryptocurrencies (as of 25/11/2021): Bitcoin (BTC), Ripple (XRP), Neo (NEO), Chainlink (LINK), Ontology (ONT), Kava (KAVA), Neo (NEO), Binance USD (BUSD), WINk (WIN), Cosmos (ATOM), Matic Network (MATIC), Ravencoin (RVN), Algorand (ALGO), Zilliqa (ZIL), XEM (NEM), Cardano (ADA), Stellar (XLM), Iota (IOTA), Eos (EOS), Dash (DASH), Monero (XMR), Bitcoin Gold (BTG), TRON (TRX), Ethereum Classic (ETC), Qtum (QTUM), Lisk (LSK) and many others. The main cryptocurrencies that all others are traded with are Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Tron (TRX) and stablecoins. A total of 969 currency pairs can be traded. All markets can be viewed on the page.

The Binance exchange regularly holds contests and tournaments among traders. For example, in December 2021, there is a trading tournament on Binance Futures with a prize pool of $1,800,000 in BNB.

Btcnewsweb.com editor’s addition: if the Binance website does not open in your country, you need to use a VPN or proxy services. Since 2018, the exchange does not work with clients from Belarus.

Information about the Binance exchange

Exchange nameBinance (Binary Finance, in russian Бинанс or Байненс)
Official sitehttps://binance.com
Futures exchangebinance.com/ru/futures/
Decentralized exchangeBinance DEX
Russian languageYes
Year of foundation2017
Registration of the Binance exchangeHong Kong (2017–2018), Malta (2018–2019), Cayman Islands (2020) and other jurisdictions
FoundersChangpeng Zhao; Yi He
Legal name of the companyBINANCE Holding Limited
AddressSertus Chambers, Governors Square, Suite # 5-204, 23 Lime Tree Bay Avenue, P.O. Box 2547, Grand Cayman, KY1-1104, Cayman Island
Legal entities for European clientsBinance Europe Services Limited
Telephone+356-27283333
Exchange typeCentralized; decentralized (Binance DEX)
Trade typesSpot, margin, futures, p2p, OTC
Exchange tokenBNB (Binance Coin)
Token capitalization as of 25/11/2021$103 385 019 479
Token Maximum offer as of 25/11/2021 166 801 148 BNB
Average website traffic per day7 903 473 million
RatingBinance Exchange is in the top 3 ratings of the largest crypto platforms in the world in terms of trading volume and liquidity. Ranked # 1 according to Coinmarketcap.
Maker / taker trading commission (spot)0,012–0,1 %/0,0240–0,1 %
Trade fee when paying BNBfrom 0.075%
Minimum cryptocurrency depositWithout restriction
Minimum withdrawal amountBitcoin: 0.002 BTC; Ethereum: 0.02 ETH; Binance Coin: 0.1 BNB; Tether: 8.2 USDT; Ripple: 22 XRP, etc.
Working with fiat moneyBank cards Visa / Mastercard; payment systems Advcash and Payeer
Trading botsRevenueBot, 3Commas, Stratum Bot
Official walletTrust Wallet
VerificationYou don’t need to trade cryptocurrency, without verification, the daily limit for withdrawals from Binance is 2 BTC in equivalent.
SecurityTo protect your wallet, it is recommended to enable one of the 2FA methods: Google Authenticator, SMS, IP, Anti-Phishing Code
Number of cryptocurrencies288
Number of trading pairs969
OrdersMarket, Limit, Stop Limit and others
Trading volume (24h)$10 499 778 453
Margin tradingYes
FuturesYes
Liquid cryptocurrenciesBitcoin, Binance Coin, Ravencoin, IOST, Cardano, Tron, Ethereum, Litecoin, Bitcoin Cash, EOS, Lunyr, Zcash, Ripple, Zilliqa, Groestlcoin, Ontology, IOStoken, ICON, NEO, Nuls, 0x, Verge, VeChain, Aelf, NEM, Storm, Stellar, etc.
Web terminalMain; extended
Mobile application for tradingAvailable (Android, iOS)
Desktop application for PCAvailable (Windows, MacOS)
Contactshttps://www.instagram.com/Binance/
https://vk.com/binancerussia
https://www.reddit.com/r/binanceexchange;
https://t.me/BinanceRussian
https://twitter.com/binance
https://facebook.com/binanceexchange
https://www.youtube.com/binanceyoutube
Support and emailsupport.binance.com; 
Business@binance.com; 
Product@binance.com; 
Market@binance.com
ServicesExchange, Margin, Futures, Lending, Launchpad, Research, Lending, Staking, Crypto Loans, OTC, P2P, Binance Card
IEOBinance LaunchPad
MainNetBinance Chaine, Binance Smart Chain
Overall rating from Btcnewsweb.com9 out of 10

Binance Ecosystem

Binance crypto exchange video review

Registration on the official Binance website

Registration on the official website binance.com involves filling out a form with the following information:

✅  Electronic mailbox.

✅  Strong password.

✅ The ID for getting a lifetime 10% discount on trading fees from Binance is KHXNLSZE or just follow the link. The ID will be filled in automatically.

✅  Agreement with the terms of service after prior familiarization with them.

The first step of creating an account on Binance

When all the data has been entered, the checkbox next to “I have read” is checked, you must click “Register” and solve the captcha in a new window by moving the slider with the picture to the desired location:

Second stage of registration: verification of the access code

If everything is done correctly, a notification will appear asking you to confirm your email address. You need to go to your mail account, open a letter from the exchange and see the activation code.

Stage three: confirmation of registration on the exchange

Then enter it in the registration window. The account on the official Binance website has been successfully created.

The account creation is over.

Login to the Binance exchange

To enter your account on the Binance exchange, you need to click at the top of the “Login” page, enter your username and password. Be sure to check that there really was a transition to the official website www.binance.com, and not to a phishing one with a similar name.

Login to the Binance exchange website

After entering the data, click “Login”. You will need to solve the captcha by dragging the slider in the same way as when registering, and then confirm the entry with a code sent to your email or phone.

Before starting work, it is recommended to secure your account and enable two-factor authorization for login:

  • We recommend connecting authorization from Google and downloading the Google Authenticator app for Android or IOs, while not forgetting to write down and save the key to restore access (back key).
  • If it was not possible to add a phone, most likely this service is not activated for the region.

If you are not sure of the need for these precautions, you can simply ignore and click “Skip for now”, but this window will pop up periodically:

security check

For the subsequent transition to your personal account, you need to click on your email in the top menu:

Go to the personal account of the Binance exchange

Initially, the account was not verified, so there is a withdrawal limit of 2 BTC per day. To increase the limits, you need to go through verification, then you can withdraw up to 100 BTC within 24 hours. To do this, you must click “Confirm” and upload the required documents to confirm your identity, address of residence. This cannot be done without connecting two-factor authentication (2FA).

For verification in Binance, you need to provide personal information and upload supporting documents. More details in the next section.

Connecting two-factor authentication on the Binance exchange

Connecting two-factor authentication

To keep your Binance account secure, it is recommended that you enable two-factor authentication. To do this, you need to log in to the Binance exchange website and go to the “Security” section of your profile. This page has functionality for connecting 2FA.

✅  First enable SMS authentication. Click “Enable” next to the corresponding item.

✅ Enter your phone number and click “Send SMS”. Enter the code received in the message. If the message did not come, check the phone number and resend the code in a minute. Press “SMS-authenticator enabled”, after which the operation is completed.

✅ Now enable 2FA using the Google Authenticator app. First, download it to your mobile device running Android or iOS.

✅ Click in the settings “Enable” next to the item “Google authentication”.

Enable 2FA

✅ Scan the QR code that appears using the corresponding function in the application, or enter the alphanumeric code manually. A notification will appear on the mobile device that the account has been added. Also, a code will appear there, which will constantly change for security purposes.

✅ On the Binance website, click Next again. Record and keep the provided code in a safe place. It will help you access your account if your phone is lost.

✅ Press “Next” again, enter the password for the account, the code from the SMS (it will come after pressing the “Send SMS” button) and the authentication code that will be displayed on the phone at that moment. Then click “Submit” in the window.

Verification on Binance

Confirmation of personal information on the Binance crypto exchange is needed in order to expand the limits on withdrawal of funds and for the purchase of cryptocurrency for fiat. Without verification, the limit is 2 BTC per day, after its passage it increases to 100 BTC. If you need to expand the limit to a larger amount, then this can be done later by individual agreement with the exchange.

Instructions:

  1. Log in to Binance to get into your personal account.
  2. Click on the “Identity Verification” button at the top of the page. This feature is only available when two-factor authentication is enabled.
Verification
  1. You should also know that the verification process on Binance must be completed within 15 minutes. Refreshing the page, restarting the browser or disconnecting the Internet is not allowed. There are 3 attempts every day to do everything without difficulty.
  2. Select the “Profile” option if you need to verify your personal account.
4
  1. Fill in personal data: name, surname, patronymic; Date of Birth; residence address.
  2. Click “Start verification”.
  3. On the next screen, press “Start” to start filling in the information about the documents.
  1. Choose a type of identity card (passport of a citizen of the country, driver’s license, ID-card). Let’s take a passport as an example.
  1. Take a picture of it from a webcam or upload a finished photo / scan from a computer.
  2. Next, take a selfie in which the face is clearly visible.

Requirements for face and document photographs:

✅ JPEG or PNG format.

✅ High resolution, good lighting, the ability to read every significant detail.

✅ The absence of any post-processing, watermarks.

✅ Photo in color is required.

✅ The document shown in the photo must be an original, not a copy, and also be valid (not expired).

✅ There is only one person in the photo. You cannot put anything on your head – a hat, sunglasses.

After the photos have been successfully uploaded, you must confirm that the photo shows the face of the account owner. Then send an application and wait 1-3 days for it to be considered. In case of rejection, you can try again after 24 hours.

Replenishment of the exchange wallet

Deposit Cryptocurrency on Binance

The Binance exchange supports both cryptocurrencies (almost 300 coins) and fiat currencies (US dollar, EUR euro, RUB rubles, UAH hryvnia and others). In order to work with fiat, you need to pass verification.

To deposit or withdraw from your account, you need to go to your personal account on the binance.com website, select “Wallet”, then “Fiat and Spot”.

This section lists all assets supported by the exchange (you can find the one you need using the search field). To replenish your Binance account with the selected cryptocurrency, click “Deposit” in front of it. If an input or output operation is not available for a cryptocurrency, then the word “Pause” (Suspend) appears.

For example, to fund Binance with Ripple (XRP) cryptocurrency, you need to press “Enter” and copy the wallet address and destination tag.

Ripple (XRP) addresses for replenishing the Binan exchange

Then, by going to another exchange or wallet, enter these wallet details on Binance and transfer the cryptocurrency. In this way, you can transfer any cryptocurrency to the exchange, for example, BTC (Bitcoin). You can also see the address to which you want to send the coin:

BTC Address for Binance Exchange Wallet Funding

Fiat input

To replenish the Binance exchange with fiat currencies, you need to go to the wallet in the same way and press “Enter”. Then choose the desired payment method. For example, for the Russian ruble are available:

  • Bank card VISA, Mastercard.
  • Payment system Advcash.
  • Payeer payment system.
Entering fiat on the Binance exchange

Here is information about commissions. On the left, the amount and other data are entered, after which the already selected payment system or bank is responsible for the transfer, where you need to confirm the transaction.

Withdraw funds

Withdrawal of cryptocurrency and fiat from the Binance exchange

Step-by-step instructions for withdrawing cryptocurrency from the Binance exchange:

  1. Go to the “Wallet” section.
  2. Select subsection “Balance” or “Withdrawal“.
  3. Click “Withdrawal“.
  4. Indicate the address of the wallet to which you need to receive cryptocurrency and other information, if necessary.
  5. Amount. Verification is not required when working with an amount of less than 2 BTC within 24 hours.
  6. Click “Send”.
  7. Enter the 2FA code.
  8. Confirm withdrawal (an email will be sent to you).
  9. Wait for the status of the operation to change to “Completed”.

Example 1: Withdrawing Ripple (XRP)

To withdraw Ripple from Binance, you must specify the address of the XRP recipient and the Tag (Destination tag):

Example 2: Withdrawing Tether (USDT)

USDT withdrawal

Withdrawing stablecoin Tether (USDT) on the ERC-20 protocol:

  1. Enter the address of the USDT recipient. Important: Binance works with ERC-20 Tether on the Ethereum blockchain.
  2. Enter the quantity, taking into account the minimum amount.
  3. Click “Send”.
  4. Confirm withdrawal.
  1. Enter the 2FA code obtained in the Google Authenticator app.
  1. Confirm the request to withdraw cryptocurrency. In the letter received by the registration email, click “Confirm Withdraw” or follow the link.

Successful withdrawal notification and link to track status and view transaction history.

The status of the operation should change from “Processing” to “Completed”.

Withdrawal is carried out quickly, within 30-60 minutes. If you click on the TxID, you can find out the status of the transaction in the blockchain network:

Similar actions when withdrawing other cryptocurrencies from the Binance exchange. In the case of Bitcoin, you need to specify the address, quantity and confirm the operation:

Example 3: Bitcoin (BTC) withdrawal instructions

Withdrawal of the Bitcoin cryptocurrency from the Binance crypto exchange:

1.Specify the bitcoin address to receive.
2.Enter the number of coins.
3.Choose blockchain.

Choosing a blockchain network for withdrawing Bitcoin (BTC)

4.Click “Send”.

In the next window, confirm the withdrawal, enter the 2FA two-factor authorization code and follow the link in the email. If all the conditions are met, a notification will appear about the successful withdrawal of funds from the Binance wallet and a link to the pages for tracking the transaction. The transfer is assigned the “Processing” status, after confirmation in the blockchain network – “Completed”. To track a transaction, you need to click on TXID or go to any blockchain browser and search for it using the address or identifier.

Binance Withdrawal and Transaction History

Example 4: Binance Coin (BNB) Withdrawal

The withdrawal of the BNB exchange token is possible to wallets that support the BEP2 (Binance Chain network) and BEP20 (Binance Smart Chain) standards. The official Trust Wallet supports these two standards. If the transfer is carried out to other wallets, exchanges, exchangers, then you should know in advance the address of which network they support. BEP2 addresses start with “bnb”, BEP20 with “0x”.

To withdraw Binance Coin cryptocurrency, you should:

  1. Go to the spot wallet.
  2. Select BNB coin.
  3. Click “Withdraw”.
  4. Select BEP2 or BEP20 network.
  5. Specify the MEMO tag if necessary.
  6. Indicate address and quantity. Click “Send”.
  7. Confirm the transfer (receive the code by email and indicate the 2FA code).
  8. Wait for confirmation of the online transfer. The process usually takes a couple of minutes.

Initially, the transaction has the “Processing” status. When you click on the withdrawal address, we get to the blockchain browser of the Binance Chain or Binance Smart Chain network.

How to trade spot on the Binance exchange

After replenishing your balance, you can start trading directly on the Binance exchange. Commission – 0.1% of the transaction amount. For a 25% reduction in fees, activate the BNB fee payment and use your partner ID when registering R3ZCPSYV to receive a 10% discount.

To go to trading, you need to go to the Binance website and use the item “Asset” – “Withdrawal cash from the deposit” (Funds – Deposits Withdrawals), select the cryptocurrency, click “Trade” and the currency pair. For example, the Cardano cryptocurrency is traded in pairs with Bitcoin (ADA / BTC) and Ethereum (ADA / ETH).

There is another way to get into the trading terminal. Hover over the “Trade” item and select the view – Classic or Advanced.

On the right, you can select the desired currency pair from the list:

Choosing a trading pair to trade on Binance

Then you should select the type of trading order: Limit, Market, Stop Limit. In a limit order, specify the desired price for buying or selling an asset and the quantity (to quickly specify the quantity, you can move the slider):

Trade Order Form Limit for Buying or Selling Cryptocurrency

Market – instant execution of an order on the market, you only need to specify the quantity.

Stop Limit – the same limit order, but you must additionally specify the stop price at which it is activated. For example (see the screenshot), if the BNB price drops to $650 (Stop), a buy order will be placed and executed at $645 (Limit). It is useful to place such orders if a breakout of support or resistance levels is expected.

An example of filling a stop limit order on the Binance crypto exchange

Basically, trading cryptocurrency on the Binance exchange is no different from other exchanges. Everything is simple and straightforward.

Binance margin trading

Trading on margin provides the opportunity to use leverage to potentially increase profits. But the risks are also increasing. There is a margin trading function available on the Binance exchange, we will tell you more about it.

For this purpose, a separate margin account must be created and replenished on the crypto exchange. This function is available only to persons who have passed the KYC procedure (identity verification), who have also connected two-factor authentication.

The margin account is created from the Balance section of the account profile.

Open a margin account with Binance

Once the account is created, you can transfer funds from the main balance to it to provide collateral. For this you need:

✅ Go to the “Wallet” tab.

✅ Go to the “Margin” section.

✅ Press the button “Transfer”.

✅ Specify the desired amount and confirm the transfer of cryptocurrency from the exchange wallet to the margin trading wallet.

✅ Select a cryptocurrency, click “Take / Redeem“, specify the amount and confirm the loan. For example, if your margin balance is 0.1 BTC, you can borrow 0.2 BTC.

Funds are transferred quickly, and immediately after that, the opportunity to trade using a margin account opens.

Terms of trading with leverage on Binance

The cryptocurrency exchange Binance takes a percentage for providing credit funds. The interest rate is calculated by the number of hours (if less than an hour passes, then the calculation takes place in one hour). If the interest rate per day is 0.02%, then you can calculate the hourly interest rate using the formula 0.02% / 24 hours.

When trading, you can choose pairs, next to the name of which there is a mark of the maximum leverage, for example, 10x or 3x.

There are two types of positions that you can use to make a profit with margin pairs on the Binance cryptocurrency exchange:

  1. Long. Used when a well-maintained coin with clear upside potential is selected. You need to borrow another cryptocurrency and sell it for the chosen coin. As soon as the value of the main currency rises, sell it, close your debt and get profit.
  2. Short. It is used in case of choosing a well-supported cryptocurrency, which tends to decrease in rate. It is necessary to borrow this particular currency, and then sell it in relation to another coin. When the rate of the main cryptocurrency decreases, buy it, make a profit and close the debt.

Binance provides the ability to assess the level of risk. For this, the so-called margin level is used – the ratio of the total cost of funds to the amount of credit resources, together with interest. If the margin level is 1.5 or more, then the default mode is normal mode with access to all functions. 1.3 or less – you will receive a margin call notification. 1.1 or less – Funds will be liquidated until the margin level returns to normal.

Binance Futures

On September 13, 2019, the exchange launched the Binance Futures platform for trading perpetual cryptocurrency futures. The BTCUSDT contract with 20x leverage was available from the very beginning. Several dozen contracts with leverage up to 125x are now available.

BTCUSDT contract specification:

  1. Initial margin: 0,8 %.
  2. Maintenance margin: 0,4 %.
  3. Type: non-deliverable.
  4. Expiration period: unlimited.
  5. Minimum contract size: 0.001 BTC.

Maximum leverage (leverage): 125x.

The trading commission depends on the volume of trades over the last 30 days and the presence of the exchange token BNB on the balance sheet. Initial conditions: commission for the maker – 0.02%; for a taker – 0.04%.

Maker / taker fees on Binance Futures

Binance futures trading example

Instructions on how to trade Binance futures:

  1. Go to Derivatives, USDⓈ-M Futures or Coin-M Futures section
Switching to futures trading on Binance
  1. The Binance Futures terminal looks like:
Binance Futures Trading Terminal
  1. First you need to transfer assets to a futures account. Click “Translate” in the panel on the right. Specify how much USDT, BNB or BUSD you would like to transfer. Confirm the operation.
Transferring cryptocurrency from a spot wallet to a futures account
  1. Select the type of order execution you need: limit (Limit), stop limit (Stop Limit), market (Market), marginal leverage. For example, a limit order to buy 0.01 BTC at 58020.78 USDT with x25 leverage. Total order volume: 580 USDT. Required initial margin 23.20 USDT. Thus, having a small amount on the balance sheet, you can open a position several times larger. To specify a fractional number in the line “Number.” you need to put a comma and enter numbers..
An example of a trading futures order
  1. Press “Buy / Long” or “Sell / Short” and confirm the futures deal.
  1. Since this is a limit order, the price condition must be met for it to trigger. In our example, when the price of BTC becomes 58020.78 USDT, the order will start filling. Up to this point, you can cancel it (Cancel) and set other conditions.
Open trading position
  1. At any time, you can set stop loss and take profit for an open order.
Setting take profit and stop loss
  1. Market order (Market) will be executed instantly. It indicates only the size of the order.
  2. Information about all open positions is available in the “Positions” section under the price chart.
  3. Basic parameters: Liq.Price – liquidation price (forced closing of a position); Entry Price – entry price; Mark Price – the price of marking, calculated based on the weighted average price (Index Price) of the asset on the Bitfinex, Binance, Huobi, OKEx, Bittrex, HitBTC exchanges, the funding rate and the time before it; PNL (ROE%) – unrecorded profit or loss on a deal in USDT settlement unit; Close Position – closing a position by limit or market by opening an opposite deal.

To view the history of all created orders, go to the “Order History” section. In the “History of transactions” section – closed transactions.

Trading commission: spot, margin, futures

Spot commission

General information about commissions on transactions in the Binance spot market:

✅ The standard commission is 0.1%.

✅ By default, the following option is set (you can disable it): if the balance has the required number of BNB tokens, then they are automatically withdrawn and the commission for a transaction is reduced by 25%.

✅ Also, the level of commissions depends on the level of the user, which in turn is determined by his trading volume over the last 30 days and the amount of BNB on the account.

✅ BNB trading volume and balance information is updated every day at 00:00 (UTC). An hour later, the user level is also updated.

Spot trading fees on Binance

Margin Market Commission

Margin Trading Commission:

Margin Trading Commission

When calculating commissions for margin trading, a percentage for the use of funds is added. It depends on the specific cryptocurrency and on the account level, which is determined according to the principle described above (trading volume and BNB amount).

Futures Market Commissions

When trading futures, the funding rate for perpetual contracts is added to the commissions. It can be both positive and negative. All VIP statuses obtained in a regular account are saved for futures and continue to provide benefits.

The funding rate is used to force the price convergence between the perpetual futures market and the actual price of the asset. On Binance, financing occurs every 8 hours and affects all traders who currently have open positions. If the rate is positive, then the owners of the long positions pay the owners of the short ones, and vice versa.

The fee structure on Binance Futures is as follows:

Tokenized shares on the Binance crypto exchange

Trading Tokenized Shares on the Binance Exchange

Cryptocurrency exchange Binance has launched the ability to trade tokenized shares – these are digital assets that are similar in function to the shares of various large companies that are usually traded on stock exchanges. Now Binance users can trade not only cryptocurrencies, but also traditional stock instruments within the same account. All presented tokens are secured by shares owned by the investment company CM-Equity AG (Germany).

Benefits of Tokenized Shares on Binance

Share tokens are a new convenient tool for traders with the following advantages:

  • Liquidity. Binance is the world’s largest crypto exchange by trading volume.
  • Flexibility. While you can only buy a whole share on the stock exchanges, it is not a problem to buy even a part of it on Binance.
  • Access to the opportunities offered by the traditional stock market. Token holders are entitled to dividends or other ways to receive capital gains.
  • Access to crypto-financial services, from liquidity pool loans to savings products.


“Binance serves a huge number of people around the world, and we are very pleased that we can now help them participate in the stock market. Tokenized equities show how easy it is to democratize value transfer, reduce barriers to entry and reduce friction without compromising compliance or customer safety. By connecting traditional markets with crypto markets, we are building a technological bridge that brings us closer to an inclusive financial future.”

New opportunities

Binance users who are aware of the fractional properties of cryptocurrencies can now diversify equity holdings using digital currencies as well as their familiar platform. But at the same time, the exchange will also attract traditional investors, who will also be interested in the possibility of fractional purchase of shares.

Binance will monitor market demand and add new tokenized shares over time. Promotions currently available:

  • TSLA (Tesla Inc.);
  • MSTR (MicroStrategy Inc.);
  • COIN (Coinbase Global Inc.).

The following listing candidates have already been announced: Microsoft and Apple (to be added on April 28 and 30, respectively). Shares are bought and sold with Binance Coin (BUSD).

Binance JEX

Binance JEX is a new cryptocurrency options and futures exchange platform based on Binance. You can enter it with the same account that is used for the main exchange. The goal of the developers is to create a professional platform that will support as many functions as possible and occupy the same leadership position as Binance.

The Binance JEX team is mostly made up of Binance team members – they have a proven track record of developing and supporting a successful product and are considered the most experienced people in the trading platform industry to date.

The principle of trading options on Binance JEX:

✅ To close the volume of the underlying option, a certain margin and the number of JEX tokens are locked on the account.

✅ When the option is closed, the user determines the selling price and receives a return on the sold asset, as well as an obligation to sell the contract.

✅ Options can be held or sold.

✅ If you need to unfreeze the margin in advance, you can redeem the assets already sold and apply for cancellation.

✅ When the contract expires, the margin amount is automatically calculated based on the spot value; the remainder is returned.

The JEX token on the Binance JEX platform performs roughly the same functions as BNB on Binance – it provides an opportunity to receive discounts on commissions (50%) and participate in testing early futures products. In September 2019, 200 million tokens were distributed among users with BNB accounts (from 10 pcs.). Beginning in October, Binance JEX has been hosting a monthly JEX token airdrop to BNB holders.

Binance Fiat Gateway: buying cryptocurrency with fiat money

Buying cryptocurrencies with fiat

Binance Fiat Gateway is a completely legal and secure place to buy or sell cryptocurrency for fiat money. Transactions are carried out directly with the Binance address, the funds go to the balance of the exchange. There are a variety of payment methods available, including credit cards and stablecoins.

At the moment, the exchange works with the following partners:

  • Simplex;
  • Mercuryo;
  • Banxa.

Binance Dex

Decentralized Exchange Binance Dex

Binance Dex is a decentralized cryptocurrency exchange powered by the Binance Chain blockchain. Unlike centralized platforms, Binance Dex does not require you to register an account; you need to generate a key file and download it. In the future, it will be used to access the exchange. To restore an account in case of loss of a key, a seed phrase is used. You can sign in by scanning a QR code.

The trading terminal looks the same as in the usual centralized platforms. Only funds for trading are not stored on the balance of the exchange, but on the user’s own Trust Wallet. In the future, Binance DEX will support many other proven decentralized software and hardware wallets. Trust Wallet is fully integrated with the Ledger Nano S.

Binance Earn

Invest and Earn with Binance Earn

With the help of this platform, users can receive passive income by putting into circulation their unused cryptocurrency assets. Deposits can be flexible or fixed (for a period of 7 to 90 days). Annual interest rate from 1 to 30%, depending on other conditions for specific deposits.

This section is a universal solution – this includes features such as:

  • Launchpool – earning DeFi tokens for staking other assets.
  • Staking of popular cryptocurrencies.
  • Staking ETH 2.0.
  • Promotions.
  • High-risk DeFi tools for earning.

Binance Crypto Loan – crypto loans

crypto loans on Binance Crypto Loan

Binance Loans is a platform that allows users to borrow in cryptocurrencies and stablecoins, leaving other crypto assets as collateral. The borrower chooses the term of the loan independently. Loan approval is instant, funds are credited to the account and can be used for conventional or futures trading on Binance.

Depending on market conditions, Binance Loans will expand the range of supported cryptocurrencies, limits, types of collateral and interest rates.

How to get a loan:

✅ Go to https://www.binance.com/en/loan.
✅ Select the asset you want to receive, indicate the desired amount.
✅ Select the currency you want to pledge. The deposit amount will be calculated automatically.
✅ Choose a loan term.
✅ Click “Start Borrowing Now” to go to the application page (you must be logged in to do this).
✅ Read the service agreement and confirm the application details. After pressing the confirmation button, the funds will be credited to the balance.

How to repay a loan on Binance Loans:

✅ In the “Orders” section of the top menu, select the “Loan History” item.
✅ Select the “Repay” function for the loan of interest.
✅ Enter a partial or full repayment amount. It is important that the interest must be paid before the principal is repaid. There is no fee for early redemption.
✅ Confirm your action.

After full repayment, the deposit will be returned to the exchange wallet. With partial redemption, the deposit is not automatically returned, but you can withdraw it manually. To do this, click the “Set up LTV” button next to the loan in the “Loan History” section, then move the slider or enter the amount manually. Keep in mind that it is recommended to keep LTV up to 65%. Similarly, it can be increased or decreased.

The entire history of taking and repaying loans is located in the Orders -> “Loan History” section.

If you delay the payment of the loan, the system will give three additional days, accruing interest for them in a triple amount. The loan will then be automatically closed by liquidating the collateral.

Binance p2p

Binance P2P – Cryptocurrency Peer-to-Peer Trading Platform

Binance p2p is a marketplace that allows merchants from all over the world to exchange assets. It was originally launched only for Android users and only using the Chinese yuan, but later the functionality expanded. Trading is available only for users who have passed KYC.

Currently, you can trade cryptocurrencies such as BTC, ETH, BNB, USDT, DAI and BUSD.

Cryptocurrency Trading on the Binance P2P Platform

How to buy cryptocurrency on Binance p2p:

  1. Pass KYC, enable SMS authentication and add a payment method in the settings, activate it. You can add up to 20 payment methods (different cards, e-wallets).
  2. Go to the section “I want to buy” https://c2c.binance.com/ru/trade/buy/BTC.
  3. Filters are located at the top. Select the fiat currency to be given and the payment method.
Buying Cryptocurrency on Binance P2P – Choosing a Payment Method
  1. Choose an ad that suits you according to the conditions.
  2. Respond to an ad, transfer fiat in accordance with the seller’s instructions.
  3. Click the “I paid” button.
  4. Wait for confirmation from the seller. Immediately after that, the cryptocurrency will be sent to your account.

The sale takes place according to the same algorithm, only the cryptocurrency will need to be transferred to the buyer’s account, and the fiat will need to be received by the desired payment method.

The interests of users are protected by a system of escrow accounts, on which the amount of cryptocurrency is automatically reserved. It is unlocked only after the seller confirms the payment from the buyer. If you are a seller, confirm receipt of funds only after making sure that they have arrived in your account, do not take their word for it.

During the transaction, a chat is available to communicate with the counterparty. If you have a problem that you cannot solve yourself, you can click the “Appeal” button and call the support service for help.

Binance Liquid Swap

Binance Liquid Swap

Binance Liquid Swap is a tool for instant trading and making money on investments.

Anyone can add tokens to the liquidity pool and become a market maker. Each pool has two tokens. The exchange rate is determined by the ratio of one token in the pool to another.

With the help of this tool, it is especially profitable to conduct large transactions, thanks to low commissions and a narrow spread.
All liquidity providers receive passive income for every transaction made by users within the pool supported by the provider. The interest on the deposit is floating and depends on market fluctuations. Liquidity can be removed from the pool at any time.

Binance OTC

Binance OTC

OTC Binance is an OTC portal for trading large amounts of cryptocurrencies (from 1 BTC). The transaction takes place outside the exchange and does not appear in the order book, however, it is associated with the buyer’s and seller’s Binance accounts. This scheme helps to maintain confidentiality when trading large volumes, while using the functionality of a familiar exchange and not opening third-party wallets for this purpose.

Several other services offer OTC deals, but Binance has worked out a number of advantages over them:

✅  Support for over 80 cryptocurrencies traded on the exchange.

✅  Working with a wide range of clients.

✅  Fast and easy calculation for evaluating transactions.

Binance OTC services can be used by verified users whose total trading volume exceeds 20 BTC.

Binance Card Debit Card

Binance Exchange Debit Card

In March 2020, the Binance Card was announced – a debit card similar in functionality to a regular bank card. It will be possible to pay from it in stores or on the Internet using cryptocurrency. You can replenish the card balance directly from the balance of the exchange in the form of BTC or BNB. Cashback 8% for purchases.

When ordering the first card, issue and delivery are free of charge. Reissue 25 euros.
Binance Card is not available in all countries. You can subscribe to the newsletter to be notified when it becomes available in your country.

Binance Coin Exchange Token

Exchange exchange token – Binance Coin (BNB)

The BNB token is used to power the Binance ecosystem. This coin operates on the Binance Chain blockchain, which can be used for a variety of purposes:

✅  “Fuel” for transactions on the blockchain.

✅  Payment of trading commissions on the Binance cryptocurrency exchange.

✅  In-store payments (Pundi X, Crypto.com, Monetha).

✅  Travel payments (TravelbyBit, Trip).

✅  Purchase of entertainment (Gifto, Decentraland, Loom Network).

✅  Purchase of services in applications (DENT, BitTorrent, Storm).

✅  Loans and investments (ETHLend, Moeda, LNDR).

You can store BNB using many popular wallets – Exodus, Coinomi, MathWallet, Enjin Wallet, Ledger Wallet, as well as official Binance development – Trust Wallet and Binance Chain Wallet.

BNB is burned at regular intervals – that is, Binance regularly reduces its amount in circulation using a special smart contract, which includes the burning function. This repeats every quarter and will repeat until 50% of the total token supply is destroyed, which is 100,000,000 BNB.

Binance Launchpad

Binance Launchpad

Binance Launchpad is a platform from the creators of Binance, designed for IEO – the sale of tokens of new projects with their subsequent addition to the exchange listing.

Any blockchain project developer can apply to participate in the IEO. This is done through a Google form on the Binance Launchpad website.

You will need to fill in several fields:

✅ e-mail address for communication;

✅ your status in the project (founder / co-founder, CEO, etc.);

✅ your full name;

✅ a non-disclosure policy file signed by the founder or CEO;

✅ the main essence of the project in one sentence;

✅ whether the token is a coin / security or other regulated product under US jurisdiction;

✅ if not, then attach documents confirming this fact.

Analysts of the Binance crypto exchange choose from a large stream of applications the most promising ones that may be of interest to users. Also, deliberately scam projects are eliminated, the exchange will not risk its reputation.

The IEO process takes place in the form of a lottery, in which only users with verified accounts and a certain amount of BNB tokens can participate.

Previously, the sales were on a first come, first served basis, but as of March 2019, the Binance Launchpad format has been updated to be a lottery. Features of this format:

✅ Anyone can get lottery tickets. Their number depends on the amount stored in the BNB account during the last 20 days before the lottery. The maximum possible number of tickets per account is 5.

✅ Each ticket has a unique number. If the user has received several tickets, then their numbers will be consecutive.

✅ For each of the Binance Launchpad projects, a possible number of winning tickets are announced in advance.

✅ Before the start of the lottery, potential participants are given a period of 24 hours to select the number of tickets. After specifying this number, the participant is obliged to purchase the number of tokens corresponding to the volume of winning tickets.

✅ After 24 hours, Binance starts to randomly select numbers.

As soon as the user is declared the winner, the corresponding amount of BNB is debited from his account.

Advantages and Disadvantages

Pros:

✅ Binance is a leading international exchange.

✅ High liquidity for major cryptocurrency pairs.

✅ Fiat gateway: you can buy cryptocurrency from a Visa / Mastercard or bank account; using Advcash and Payeer wallets; through the p2p platform Paxful.

✅ In addition to the spot market, margin and futures trading with perpetual contracts, a p2p platform is available.

✅ Commissions are below industry averages.

✅ Additional earnings on landing pages and cryptocurrency staking.

✅ You can take out a loan secured by cryptocurrencies.

✅ 24/7 support.

✅ The site has been translated into Russian.

✅ Profit commission is transferred to a special fund to cover potential losses.

✅ Promotions and contests for traders are held.

✅ OTC market.

✅ Mobile and desktop application.

✅ No verification is needed when withdrawing less than 2 BTC per day.

✅ High security.

✅ API.

✅ Profitable affiliate program.

✅ The Binance Chain blockchain network was launched with the decentralized DEX platform.

✅ Many promising cryptocurrencies and tokens.

✅ Publicity of the leadership.

Cons:

❌ Binance does not work with clients from Belarus.

❌ Verification for Fiat I / O.

Referral program

Binance Referral Program

The Binance cryptocurrency exchange has a referral program that allows you to receive up to 40% of the trading commissions of invited users. In addition, according to the updated rules, the inviter can also reward the invitee. Calculation rules:

✅  If the referrer’s average daily BNB balance is less than 500 BNB, then his referral interest rate is 20%, and he can provide referrals with 0, 5 or 10%.

✅  If the referrer’s average daily BNB balance is more than 500 BNB, then his referral interest rate is 40% and he can provide referrals with 0, 5, 10, 15 or 20%.

All affiliate commissions are calculated in real time and are credited to Binance accounts every hour. Referral rates are settled at 0:00 UTC every day and updated at 1:00 UTC.

To take advantage of the listed benefits, the referral must register using the desired referral link or by scanning the QR code. If the registration on the binance.com website was carried out using the old identification code, then there will be no rollback from the referrer.

Binance mobile app

Binance Mobile and Desktop Applications

There is a Binance exchange app for Android and iOS. It weighs 61 MB and contains almost all the basic functionality for trading, as well as a reference database. Thus, you can trade anywhere and anytime. The application works quickly, the indicators are updated in real time.

Binance Exchange app for trading on Google Play:

Binance Exchange App for Android

There are also convenient and powerful versions of the trading terminal for computers running Windows, Linux or MacOS. The application for Windows weighs 80 MB and is no different from the site in terms of functionality.

Binance Exchange Desktop App for Windows

Trading platforms and bots for Binance

Trading on Binance can be facilitated by using crypto trading bots. This is one of the ways to control trading operations, in some cases allowing you to work more efficiently and quickly. But not all bots have sufficient functionality to provide quality control. Examples of proven crypto bots and platforms that work correctly with Binance:

1. Revenuebot

Revenue – cryptocurrency bot for trading on the Binance exchange

Revenuebot is another bot that works 24/7 with all popular marketplaces. Offers a wide range of settings. It does not store user funds, they fully remain on the exchange accounts.

Revenuebot provides detailed statistics on orders, earnings, referrals, work cycles; and the ability to analyze the effectiveness of the settings.

The bot charges a commission of 20% on the profit received when trading the bot, but not more than $ 50 per month in BTC equivalent. There is no subscription fee – only commissions from income.

2. 3Commas

In 2019, the Binance exchange and the 3Commas trading platform announced a partnership

3 Commas is a popular trading bot that works with many platforms. It is a web service, therefore it functions 24/7 and can be controlled from any device. In October 2019, 3Commas became an official partner of the Binance exchange.

Allows you to set stop loss and take profit, as well as copy the strategy of successful traders. There is a function for managing a crypto portfolio – you can create, analyze, test, study other people’s portfolios and choose the most effective ones.

Three 3Commas plans are offered:

✅  Starter at $ 29 per month.

✅  Trader for $ 49 per month.

✅  PRO for $ 99 / month.

If you buy immediately for a year, it will be significantly cheaper. The service does not charge commission from income.

3. Cryptorg

A service with round-the-clock work that allows you to connect notifications to Telegram. You can communicate with other participants using online chat. You can work from any device. In the process of making transactions using the bot, you can mine CTG tokens using the Trade-to-mine model. Cryptorg is partnering with Binance through the Binance Broker program.

Tariffs:

✅  Free trial for 14 days, then $ 15 per month.

✅  Initial – $ 30 per month.

✅  PRO – $ 60 per month.

✅  Business – $ 100 per month.

Tariffs differ in the number of available bots and exchanges, as well as in the presence or absence of individual technical support.

Questions and answers

How to delete an account?

It is possible to disable the account through the exchange website in the settings or through the letters that were received by email. At the bottom of the letter, you need to click “Disable your account / Disable account”.

Do you need verification on the Binance exchange?

No, but it may be required to increase the withdrawal limit (2 BTC per day) and upon request from the representatives of the platform.

Can I download trading apps?

Yes, a mobile app is available for Android, iOS, and an app for Windows, Linux, and Mac personal computers.

Is test trading available on the exchange?

There is no demo trading on the spot market, only on Binance Futures.

Is bot trading available on the exchange?

Yes.

Can you short with leverage on Binance?

Yes. This can be done by margin trading on the spot market or on the futures platform.

How to reset Google’s 2FA 2FA code?

If you haven’t saved a backup code and you don’t have access to the Google Authenticator app, you’ll need to verify your identity.

Is Binance exchange safe?

No exchange can be 100% secure. Binance is considered one of the most secure. The SAFU fund was created for insurance. Funds from the commission fees of traders are transferred to it. In the event of an exchange hack, funds from the fund will be used to cover the losses.

How do I fund my balance on the Binance crypto exchange?

Cryptocurrencies, stablecoins, fiat. Fiat can be entered through Advcash and Payeer wallets, bank cards.

Minimum deposit to enter cryptocurrency?

No limits.

Minimum amount to withdraw cryptocurrency?

Depends on the cryptocurrency.

Where to buy cryptocurrency for transfer to the exchange?

In exchangers, on exchanges and p2p platforms, through electronic payment systems, through telegram bots, in cryptomats and wallets.

What are the trading fees in the spot market?

Depends on the trading volume for the last 30 days. Commission starts from 0.1%. There is a 25% discount when paying fees with Binance Coin (BNB).

What are the fees when trading futures on Binance Futures?

Depends on the trading volume for the last 30 days and the order type (Maker/Taker). Starting from 0.0200%/0.0400%. There is a discount when using BNB.

What is the commission for depositing/withdrawing cryptocurrencies?

For replenishment 0%. The withdrawal depends on the cryptocurrency.

Is Binance a scam, a scam, or a scam?

No, this is an international platform with all the necessary licenses to operate.

Reviews on the Binance cryptocurrency exchange

Reviews of the Binance exchange on the Internet are mostly positive. The platform is developing at an incredible pace, new functionality and trading tools are being added. For example, margin and futures trading, an IEO service, passive income methods, it became possible to replenish an account with fiat money. Since November 2019, input of Russian rubles and other fiat currencies has been supported.

For passive income on the Binance crypto exchange, a landing program and cryptocurrency staking were launched. The decentralized DEX platform is in operation, and the Binance Chain blockchain network has been launched. For traders from America, the Binance.US platform has been launched. Part of the profit goes to a special fund SAFU (Secure Asset Fund for Users) to cover losses in case of unforeseen situations.

The advantage of the Binance cryptocurrency exchange is the absence of mandatory verification and a large number of available coins (all popular coins are traded on this site), as well as a small commission – 0.1%. Of the minuses: a ban on registration for citizens of Belarus.

Binance: Bitcoin and Cryptocurrency Trading mobile app rating for Android: 4.7 out of 5.

⭐ Binance: Bitcoin and Cryptocurrency Trading mobile app rating for Android: 4.4 out of 5.

Binance exchange app rating and reviews

⭐ Binance: Buy Bitcoin Securely mobile app score for iOS: 4.6 out of 5.

Reviews for Binance: Buy Bitcoin Securely iOS App

Conclusion

The popularity of the Binance exchange is due to many factors – this is a wide selection of assets for trading, and versatility, and active communication between the team and users. But, obviously, one of the key factors is the flexibility of the site and the interest of the team in new trends in the field of cryptocurrencies. If some new promising direction has emerged, be it DeFi or NFT, you can be sure that the next day it will be on Binance. In addition, this exchange is a powerful launching pad for new projects that can distribute tokens here using IEO or Launchpool, thereby attracting a loyal audience at the start. Despite the fact that the exchange also has disadvantages, it is definitely the leading platform for trading cryptocurrencies today.

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