What is Binance?
Binance is the exchange platform for cryptocurrencies. This platform is available to all users worldwide. With over 8 million of those worldwide users, Binance adds over 240 thousand users daily. Binance is a new Chinese company formed by a well-trained and reliable team. The most accessible name behind this project is Changpeng Zhao. He is CTO in OK currency.
Binance focuses on crypto to cryptography work. As it is a new option in the market, but manages to win a pair of eyes. Let’s look at Binance Exchange Review for the features.
- Security and stability: The bank uses a multi-level system architecture and multiple clusters.
- Compatibility with multiple devices: The software is compatible with web browsers, Android, HTML5, WeChat and other platforms.
- High performance: Binance can handle 1.4 million orders per second.
- Multi-Language Compatibility: The company supports Chinese, English, Japanese and Korean.
- High liquidity: In several pairs of cryptocurrencies, Binance offers great liquidity.
- Multi-currency compatibility: Binance accepts transactions in a variety of currencies including BTC, ETH, LTC and BNB.
- Strong Team: Binance is led by Changpeng Zhao. In general, the company says its team has extensive experience in both the Wall Street and crypto finance industries, along with a track record of successful startups.
- Products tested: The underlying Binance platform has been implemented in more than 30 exchanges. The platform supports all devices and multiple languages and provides a perfect user experience.
- Superior technology: The company uses a compatible certified engine that can handle 1.4 million orders per second. “This makes Binance one of the fastest exchanges on the market,” explains the official website.
How to open a Binance account
- Click here to go to the Binance Website
Be sure to bookmark the page as there have been many cases of phishing sites that reflect the actual site. As a precaution, you should also check the URL and look for the “Secure” certificate to confirm that this is the original site. Complete the registration process, click on the “Register” tab in the upper right corner of the web page and enter the required information. It’s good to have a long and arbitrary password to better protect your account. Confirm and click on “Register” to continue, and you will receive a confirmation e-mail.
- Enable 2-Factor Authentication (2FA)
A pop-up window should appear on the screen when first logging in and activate 2FA immediately to increase your security. If for whatever reason it does not pop up, go to the little person on the top right hand corner and click account. This is where you can Enable your Google Authenticator. You can download Google Authenticator on your Android or IOS device. Now you can start by depositing your coins or crypto currency tokens into your Binance account safely.
- Deposits Fund
Click on the “Deposit / Payout” button under the “Funds” tab in the upper right corner. Know the currency you want to deposit and click on it. When you deposit Bitcoin (BTC), be sure to click on the “Deposit” button just for Bitcoin (BTC). On Binance, each coin or token has it’s own separate wallet and address. When ever you want to deposit coins or tokens from Coinbase or any other exchange, for example, you would use the address that is given to you by Binance. Only deposit Bitcoin into a bitcoin wallet. Only deposit Ethereum into an Ethereum wallet. If you deposit Ethereum into a Bitcoin wallet, you funds may be lost forever. This is because the address of each currency is different. You can search the currency in the search box to streamline the process.
Which cryptocurrencies are compatible with Binance?
Want to know how to buy altcoins and other cryptocurrencies? Well, Binance is your key to doing that. There are a variety of currencies: Bitcoin (BTC), Bitcoin Cash (BCC), Qtum , EOS, Dash, Litecoin (LTC), Neo, Tron (TRX), Stellar (XLM), Cardano (ADA) and Ripple (XRP) compatible with Binance. However, it is the rare cryptocurrencies Binance supports (Nucleus Vision (NCASH) and Verge (XVG) that set it apart. There are usually around one hundred coins supported by Binance and Binance does a great job of having legit cryptocurrencies on their exchange, as it is a task to be supported by them.
Which countries does Binance support?
Although the company is based in China, it has worldwide support. The countries supported by Binance are distributed in North America, Europe, Asia, Australia and some African countries. Binance wants to be equipped with the servers to have the capability for every person in the world to be able to trade on their website.
Binance exchange transaction rates
Binance has some of the lowest transaction fees available.
- Negotiation Fee: Currently, Binance has a commercial interest rate of 0.1%. If you have BNB, (Binance own coin) you can opt for BNB to deduct a commercial commission of 50%.
- Deposit: There is no charge for depositing coins in Binance. It’s free
- Payout Rate: Payout ratios vary from cryptocurrency to cryptocurrency. You can see the different extraction rates on the BINANCE website. (Source: “Refinancing Structure”, Binance, last visited on 1 February 2018).
- Binance Transfer Rate: If the transfer from a Binance wallet is to the center, there is no transfer fee. However, a transfer from the exchange will incur redemption charges.
What is the minimum deposit limit in Binance?
There is no minimum deposit limit for Binance. The minimum repayment limit of binance varies from currency to currency. However, the volume may affect the deposit time and repayment time of Binance.
Due to the high call volumes, the response time of the support team in Binance takes longer than usual. To get a quick answer, users should refer to the help in the Binance Frequently Asked Questions section.
How safe is Binance?
Binance Exchange cryptocurrency is known for its high processing speeds and the ability to handle a large number of transactions (1.4 m) per second. It has been rapidly gaining ground in the market share of cryptocurrency, and currently is number 17 in terms of trading volume of 24 hours. It is the largest, safest, and fastest way to buy, sell and trade your cryptocurrency. You can learn more about Binance and cost-effectively building the negotiation of the organization online today to visit Binance.com.