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Binance Reviews Read Customer Service Reviews of binance com

binance review

There is not much that this global exchange can’t deliver — with the exception of live customer support via phone lines. Binance does have a wide selection of affordable crypto-to-crypto trades, and it has competitive rates on its staking offering. But given the regulatory scrutiny, it’s anyone’s guess whether these products will remain available. While basic information is easy to find on the website, the platform is still not the most transparent among those reviewed by NerdWallet.

And when cryptocurrencies are concerned, we know that most exchanges operate without any regulation. If you’re not sure what it is, it’s basically an algorithmic program that allows customers to verify their funds are on the exchange. As you can see, Binance has immersed itself in all areas of the crypto world.

Cryptocurrencies Available on Binance.US

Binance has its peer-to-peer trading (P2P) marketplace that enables its users to trade between themselves with a greater variety of deposit methods and currencies (and no fees). There is an escrow binance review service to keep funds safe until the transaction is completed for those who want to go down this path. You’ll only be paying the blockchain network fees, as Binance doesn’t add extra charges.

binance review

In even better news, you have the opportunity to reduce these fees further by holding the Binance Coin. Once your cryptocurrency deposit has been credited – which usually takes no more than minutes, you are then ready to start trading. Hover over the ‘Exchange’ button at the top of the screen, and select whether you want the ‘Basic’ or ‘Advanced’ trading platform. If you’re only planning to deposit and withdraw funds using cryptocurrencies, then you’ll only need to provide an email address.

Binance Key Features

These include many of the top-20 cryptos, such as Bitcoin (BTC), Ethereum (ETH), BNB, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA). Binance.US stands out for its low-fee approach to crypto investing and it has a good list of available cryptocurrencies. However, it faces significant https://www.tokenexus.com/ regulatory issues, including charges of securities violations. Once you’ve verified your account you can start trading, though you also have the option to verify your address with additional documentation, if you want to raise your maximum daily transaction limits.

  • It’s basically a way for you to have more control over your risk.
  • While standard trading fees average a very competitive 0.1%, this can be further reduced for those holding the platform’s proprietary digital asset – the Binance Coin.
  • For crypto deposits, once you have the internal wallet address, you can begin transferring cryptocurrency onto the platform to trade with.
  • On the downside, it continues to have serious issues with regulators worldwide, and it’s not licensed to operate in every U.S. state.
  • After some investigating they were able to identify the malicious parties, obtain the stolen coins, and revert the funds back to the appropriate people.

Binance has generally been considered an overwhelming success in its life so far. Unfortunately, a much smaller range of assets are available to trade on Binance.US when compared to the global platform. Additionally, Binance offers derivatives called “Leveraged Tokens”, which provide UP and DOWN contracts betting on the price of certain cryptocurrencies.

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However, there is a nominal 1% processing fee applied to transactions that aren’t the cheapest compared to premium NFT platforms in the market. Binance is one of the best crypto leverage trading platforms and offers margin, cryptocurrency options, and futures contract trading with up to 125x leverage. As such, experienced traders can open sizable positions with minimal capital requirements, making the platform excellent for utilizing strategies like scalping, which takes advantage of small price movements. Binance, owned by Changpeng Zhao (CZ), is licensed in multiple jurisdictions by authoritative bodies, including the AUSTRAC, DASP, and FSP. However, certain regulators like the UK’s FCA have limited the services Binance can offer in some regions (check Binance’s supported countries). Each exchange under the Binance name is independently operated and fully compliant with the country’s local regulations and laws.

  • On their website, Binance.US says that if a new jurisdiction becomes restricted, they will notify users in that jurisdiction regarding their access to the site by email, on the website or by some other means.
  • Options like Visa and Simplex are available, but keep in mind, they tack on extra fees.
  • Let’s face it, crypto can be a bit Wild West sometimes, but Binance takes it seriously.
  • While this was previously 50%, the next reduction will take the discount down to 12.5%.
  • In 2021, regulatory actions directed at the exchange ramped up around the world.

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