|Date of foundation|
Melita Court, Level 3, Triq Giuseppe Cali, Ta'Xbiex XBX 1420, Malta
|Types of support|
Feedback form on the siteHelp CenterForumChatVkontakteFacebookTwitterTelegramRedditInstagram
|Support by phone|
English, French, Spanish, Italian, German, Portuguese, Ukrainian, Korean, Polish, Turkish, Chinese, Indonesian, Russian, a total of 33 languages
|The owner of the company|
Changpen Zhao and Yi He
|Minimum entry amount|
|Maximum input amount|
|Minimum withdrawal amount|
|Maximum withdrawal amount|
Withdrawal fee: 0.06 BTC / For users who have passed the basic verification
Spot: From 0.02 To 0.1 % for maker / From 0.04 To 0.1 % for taker
Futures: Until 0.02 % for maker / Until 0.04 % for taker
Author's platform (for beginners), TradingView (for professional traders: indicators, graphical elements, depth charts, etc.), Binance JEX (for trading cryptocurrency options and futures), Binance OTC (for professionals with large deposits)
From 18 years
|Trading volume per day|
|Number of users|
37000000+The number of users is increasing
|Number of cryptocurrencies|
600+The number of cryptocurrencies may change
Up to 1:125Depends on the pair traded and the type of margin
|Free Demo Account|
For futures only Open a demo account
|Types of accounts|
|Execution of orders|
Market Execution (at market price),
|Methods of replenishment|
Bank card (Visa/MC), Advcash, Payeer, Cryptocurrencies
Advcash, Payeer, Cryptocurrencies
RUB, EUR, NGN, UAH, TRY, AUD, BRL, GBP, GHS, HKD, KES, KZT, MXN, NOK, PEN, UGX, VND, ZAR, Cryptocurrencies
|Types of cryptocurrencies|
Bitcoin, BNB, Ethereum, Litecoin, USDT, ADA, XMR, BAND, BUSD, Waves, XRP, etc.
Binance Academy, Ask Academy, reference materials, training videos, dictionary, etc.
|A way to store cryptocurrencies|
Trade from 1 min. to 30 min.
|Stop Loss and Take Profit Function|
|Exchangeability for fiat currencies|
All strategies for trading in the cryptocurrency markets are allowed
Free coins from the exchange for activity
You can get a loan secured by crypto assets. Guaranteed approval
A separate platform to increase the income of miners
|Binance Liquid Swap|
Additional earnings from placing tokens in the liquidity pool on the platform
Profits from options trading on the handy Binance Vanilla platform
Direct trade in cryptocurrencies between users without the participation of a cryptocurrency exchange
Derivatives trading in a special account
Ability to receive a stable passive income from unused cryptocurrency assets
Passive income from investing in two assets at once
Passive profit from holding coins on the balance of the exchange
Active participation in exchange projects for a fee
|Binance Fiat Gateway|
Convenient service for buying or selling cryptocurrency for fiat money
Decentralized exchange based on the Binance Chain blockchain
|Binance Card Debit Card|
Convenient card will allow you to pay in stores with cryptocurrencies offline and online
|Extended AML verification|
KYC (passport, passport or driver's license. Photo with document (selfies). Proof of address (bank statement, utility bill, etc.)
International data protection law
FATF (Financial Action Task Force)
Read moreA simple and effective way to integrate the client's trading application into the exchange platform
RegistrationUp to 40% of the commission amount
Favorable conditions for cooperation with the exchange, its reliability
A large number of supported currencies
One of the largest trading volumes on the market
A large number of training materials, including those for beginners
Profitable affiliate program
Additional earnings on the banding and stacking of cryptocurrencies
Binance's handy Visa card for cryptocurrency purchases around the world
24x7 support service
Ongoing development of the exchange
Legal name: Binance
Legal address: Melita Court, Level 3, Triq Giuseppe Cali, Ta'Xbiex XBX 1420, Malta
|Date of update|
Binance is a scam? Reviews and description
- 1. Why Binance?
- 2. How to exchange cryptocurrency on Binance platform?
- 3. Verification on the binance.com platform
- 4. Deposit and withdrawal
- 5. Bonuses Binance
- 6. Complaints about Binance
- 7. Regulation of the Binance cryptocurrency exchange
- 8. Is Binance a scam?
- 9. Conclusion
- 10. Binance reviews
Cryptocurrency exchange Binance - one of the new platforms for working with digital coins, which has been quite successful and active in the market since 2017. Today it is considered one of the leaders in terms of the average daily trading volume, ranking among the top 5 cryptocurrencies.
Still, is Binance a scam, fraud, and dubious resource or a safe site that guarantees a stable cryptocurrency trading, a decent income, as well as instant transactions? We are ready to answer these questions in today's review.
Binance - exchange that is very popular, such as, EXMO, Paxful, CEX.IO and ByBit. It is a young but promising platform, this is due to the fact that a strong team of developers participated in the creation of the resource. The ICO-project of the exchange attracted the attention of a large number of crypto-enthusiasts and blockchain-evangelists (for example, Matt Roszak and Roger Ver), allowed to raise about $15 million, to get the support of major organizations: "Morgan Stanley, Nomura, SBI Group, etc. The company is headquartered in Shanghai and headed by Changpeng Zhao, who previously worked on the development of platforms OKCoin and Blockchain.info, was the head of Bloomberg's technical department.
Low commissions, high performance, the ability to work with professional trading tools for advanced technical market analysis, no mandatory verification if the user withdraws no more than 2 BTC per day, the ability to withdraw up to 100 BTC/day if verified, a convenient mobile version of the terminal (Android, iOS) - all this distinguishes binance official website from competing resources, all this allowed him to break far ahead.
The platform is also distinguished by the market's low trading fees (0.1%) and instantaneous transaction processing (thanks to an innovative technology about 1.4 million orders are processed per second). Customers of binance (official website here) offers a large number of cryptocurrencies (the whole truth about cryptocurrency here), GAS/BTC, NEO/BTC, ETH/BTC and BNB/BTC pairs are especially popular, and there is a cryptocurrency wallet for each currency. Some investors prefer to work at binance.com, as they find rare coins which are absent at other crypto-exchanges (for example, Bicoin Gold, IOTA, Walton Coin). The site also has its own digital currency, BNB (Binance Coin), issued to raise capital through ICOs. Its owners receive additional discounts and bonuses, thanks to the coin you can reduce the amount of commission from 0.1% to 0.05%.
The user does not need registration to work with the exchange as a source of information on markets, but it is necessary to create an account to make transactions. The official website of the Binance exchange supports popular languages (English, Chinese, Japanese, Korean, Spanish, French), which makes it much more convenient to be here.
It publishes up-to-date market news, has drawings and an opportunity to buy free currencies. All trading is done in the "Trade Center" tab: trader's choice of currency pairs, charts, orders stack, stop-losses, order panel, currency pairs trading statistics, 2 types of trading terminals: basic and advanced. Advanced trading terminal is more convenient for professional investors because it has a set of trading tools, indicators, types of charts which allows to carry out qualitative technical analysis.
How to exchange cryptocurrency on Binance platform?
To make a trading operation, first you need to click on the "Exchange" button on the Binance exchange website, select the appropriate mode of operation and go directly to the exchange site. Before you start trading, you need to decide on a trading pair. Several types of coins are available:
- Binancecoin (BNB);
- Bitcoin (BTC);
- Ethereum (ETH);
- Riple (XRP);
- Cryptocurrencies tied to the U.S. dollar (USDT, USDC, TUSD, PAX).
After selecting the market and currency pair, the client will see detailed data about quotations, the price chart, as well as other important information. For beginners, it is better to use a Market order, because orders of this type are executed immediately after their creation at the current price of the cryptocurrency. The exchange has two trading floors - Basik and Advanced.
Verification on the binance.com platform
To access all the functionality of the project, you must pass the verification process on the site binance.com. Identity verification is needed to expand withdrawal limit, as well as to be able to buy cryptocurrency for fiat. Without verification, the limit is up to 0.06 BTC, and after passing - up to 100 BTC. A higher limit can be obtained after an individual agreement with the exchange. It is impossible to withdraw fiat without verification.
To verify your account, go to your profile and fill in personal information: first name, last name, patronymic, date of birth, and place of residence. After this step, you should select one of the documents that can confirm your identity (passport, driver's license or ID card). You can upload either a photo or a color scan of the document. The user also needs to take a picture of his or her face. Document requirements:
- high resolution;
- good lighting, allowing you to see and read every detail;
- JPEG or PNG format;
- the photo must be in color;
- the document must be an original, not a copy;
- there must be one person in the picture;
- Do not wear glasses or a hat.
The application is considered within 1-3 days. If rejected, you can try again after 24 hours.
Deposit and withdrawal
Cryptocurrency exchange Binance supports both fiat money and cryptocurrency (how do you make money on cryptocurrency? here). Traders recommend using the English version of the site, you have to spend time to understand the features and functionality of the resource. To deposit with cryptocurrency, you need to hover your mouse cursor over the "Asset" tab, select the menu item "Cash Deposit" (there are deposit/withdrawal items), you can deposit with any cryptocurrency of your choice. There are no deposit fees, withdrawal fees are some of the lowest in the market, which has contributed to the rapid growth of the site's popularity.
The Binance platform has a trading commission of 0.1%. Discounts are provided for BNB token holders. Thus, clients receive a certain rating. The higher the position - the lower the commission is charged by the service. A total of 9 levels are provided:
- Level 0 - commission 0.1% (maker) and 0.1% (taker);
- Level 1 - commission 0.09% (maker) and 0.1% (taker);
- Level 2 - commission 0.08% (maker) and 0.1% (taker);
- Level 3 - commission 0.07% (maker) and 0.1% (taker);
- Level 4 - commission 0.07% (maker) and 0.09% (taker);
- Level 5 - commission 0.06% (maker) and 0.08% (taker);
- Level 6 - commission 0.05% (maker) and 0.07% (taker);
- Level 7 - commission 0.04% (maker) and 0.06% (taker);
- Level 8 - commission 0.03% (maker) and 0.05% (taker);
- Level 9 - commission of 0.02% (maker) and 0.04% (taker).
How do I get a discount on commissions?
You can get a 20% discount on binance.com cryptocurrency exchange commissions. When you click the link, the promo code will be inserted automatically.
- 20% discount on commissions (code will be inserted automatically: K30MTGC4) - Get
The service also charges an additional fee for the withdrawal of earnings. For users who passed the basic verification, the commission is 0.06 BTC. Previously, the commission exchange was 2 BTC. For users who were already in the system, the update occurred in stages from August 8 to August 23, 2021.
The project offers a number of bonuses for users.
Discount on commissions
You can get 20 or 10% discount on cryptocurrency exchange fees binance.com. When you click on the link a promo code will be inserted automatically.
Mystery Box under $500
To open a Mystery Box worth up to 500$ each, you need to register, deposit funds, and trade. The total reward will be 600,000$. Start your quests now!
In order to get the $10 bonus, a user needs to register on binance.com, trade at least 0.1 BTS or other cryptocurrency equivalent of 0.1 BTS and send the email address that was specified when registering on info-binance.com.
In this case, a cashback is a portion of the refunded commission that is charged to users when they trade. To get a cashback, you also need to register on the exchange, make a deposit and start trading, and then send an email address to receive the bonus. VTS, ETN and BNB coins participate in the promotion.
Referral program at binance.com
For active users who want to earn extra income, the platform offers to participate in the referral program. To do this, the client needs to invite new users to the project. The company pays up to 40% of commission. Also on the site binance.com stated that if the invitee's average daily BNB balance is less than 500 BNB, his base referral rate will be reduced from 40% to 20%. At this time, the percentage allocated to the invited friend will have priority and his rate will remain unchanged.
Complaints about Binance
The cryptocurrency exchange Binance (registration) - one of the leading cryptocurrency trading platforms. There are a large number of reviews and recommendations of users about the resource. As the advantages are usually noted: low commissions, large volume of transactions, user-friendly interface, a large selection of virtual coins (the whole truth about cryptocurrency here), including rare ones, high-quality support service, high performance and fast execution of orders, fast withdrawal of currencies, convenient mobile application, currency drawings. Active users recommend the exchange for work, considering it one of the best and most stable in the market.
As the disadvantages of the platform usually indicate the following: lack of support for fiat money (except mode p2p-commerce), information on the security of the resource, the problem of entering the site and blocking accounts. Users write that the platform is still very young, there are no complaints about it, it is developing dynamically, and you can't call it a scam.
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Regulation of the Binance cryptocurrency exchange
Binance Limited, which owns the cryptocurrency exchange Binance, is legally registered in China and operates in accordance with the laws of that country. The organization does not have a license to conduct activities with cryptocurrencies, but does everything possible to ensure maximum security of work on the site.
Binance.com User Agreement
The "User Agreement" is the main document of the project, which each user should read before starting cooperation with the exchange. The agreement contains detailed information on all aspects of work on the platform, as well as the responsibilities of clients and organizers. Let's consider some points of the agreement in more detail.
The document clearly states that the company reserves the right to change the terms of the agreement at any time at its discretion. Binance will notify you of these changes by updating the information on the appropriate page. Any changes to these terms and conditions will take effect immediately after they are announced on the website or posted to users. Thus, continued use of the services acts as acceptance of the amended agreement and rules. If the user does not agree with any changes of these terms and conditions, he/she must stop using the project services. The organizer recommends customers to periodically review the terms and conditions to make sure they are understood, which apply to the access to the services and their use:
- trading markets are extremely volatile and change rapidly in terms of liquidity, market depth and trading dynamics.
- The use of leverage can work both for and against the client, resulting in large losses;
- the user is not entitled to receive bifurcated coins separated from any blockchain asset in a margin account, even if the customer has not participated in margin trading or borrowing at all;
- credit carries risks and the value of blockchain assets can fall. If the value of assets falls below a certain level, the user is responsible for responding to these market circumstances;
- it may be difficult or impossible to liquidate a position under certain market conditions. This may occur, for example, due to insufficient liquidity in the market or due to technical problems with Binance.
There is no guaranteed measure against losses in margin trading. As a borrower, a client can incur a total loss in excess of the amount he has deposited in his margin account:
The user must also accept the fact that he or she is using the platform on an "As Is" basis. In turn, the company makes no guarantees, including those that the company's website or services are reliable, complete and error-free. The organizer does not guarantee that any order will be accepted and fulfilled. The organizer is not responsible for any loss or damage:
Binance is not a personal broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to customers in connection with any transactions or other decisions and actions made by a user while using the services. No communication or information provided by the company is intended or should be construed as investment, financial, trading advice or any other type of advice. All transactions are performed automatically based on the parameters of the order instructions and in accordance with published procedures for the execution of transactions, and it is solely the user's responsibility to determine whether any investment, investment strategy or related transaction is appropriate. Binance will not be responsible for the decisions a customer makes to buy, sell or hold digital currency based on information provided by the organization:
Binance Support Service
Contact support can be one of the proposed options:
- phone: +356-272-83-333;
- feedback form;
- chat on the site.
The site also has a forum where each user can find answers to the most popular questions, as well as learn about the latest developments at the exchange.
Is Binance a scam?
Binance surprises users by the fact that, although it opened not so long ago, it was able to break into the leaders in a short time, leaving behind the leading crypto-exchanges of the market. Now it is considered one of the most successful cryptocurrency trading platforms. Much of the success should be attributed to the fact that professional developers participated in the creation of the resource, and at the stage of investment with the help of ico-campaign, the exchange was able not only to attract huge investments and the first audience of users, but also the support of crypto-enthusiasts and large companies "Morgan Stanley", "Nomura", "SBI Group", etc.
When choosing Binance, traders note its stability and perspective, low commissions and fast execution of orders. It is profitable to work here, there is a large choice of digital coins, including rare ones, and deposits and withdrawals are fast. It is also worth noting and convenient informative site Binance, which supports several languages, making trading much more comfortable. A lot of useful material is posted here: relevant news, trading statistics, cryptocurrency drawings are published.
Exchange Binance, whose official website offers advanced features, is an intuitive interface, a set of necessary options for effective trading (deals stack, orders, stop-losses, history of deals, etc.), 2 types of terminals (basic, light and professional, with a set of tools for advanced users). The functionality is convenient both for the market novice who is just learning the possibilities of trading and for those who need the opportunity to conduct a high-quality technical analysis.
There are many comments on forums and thematic resources about binance exchange, opinions are diverse. The advantages are, according to the participants of trading at the site, low commissions, fast execution of orders, the stability of the official website, a large selection of cryptocurrencies, rare coins, fast transactions, the availability of a functional terminal with convenient tools, mobile application, etc. Negative comments are much less, most often it is the lack of support for fiat money, information about how to ensure the security of trading, there are comments about blocking accounts, problems logging into the exchange. Most of the exchange's audience notes that the resource works quite professionally and stably, does not have serious problems, it is a promising site, which cannot be unequivocally called a scam and a scammer.
Still, should we say that Binance Exchange is a scam and a scam? Having studied traders' opinions, our answer to this question today is: no, because at the moment the site occupies top positions, offers profitable and functional cryptocurrency trading. It is not a fraud and because the organization is supported by the world's largest companies, the number of its users is constantly growing.
Cryptocurrency exchange Binance very quickly became the leading cryptocurrency trading platform, leaving its competitors behind. Binance site was able to take a strong leading position thanks to the successful ico-project, which attracted a large capital, the support of large companies. The exchange is popular among users, first of all, because of low commissions, fast execution of orders, a simple trading terminal, a large choice of virtual coins, rare currencies. It is profitable to trade here, it is possible to store coins in cryptocurrencies, transactions are very fast.
Binance website offers traders a lot of useful material (current market events, currency drawings, transaction history, etc.). Traders positively estimate the site and recommend it for work. Having studied the possibilities of the crypto exchange, we will not draw conclusions that Binance is a scam and a swindler. But still, recommendations of the resource's clients can warn against possible problems of the exchange, will influence its rating on our website.
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