Ex-Binance CEO Changpeng Zhao sentenced to four months for allowing money laundering on largest crypto exchange

The main reason for this is that users are trading crypto-to-crypto products and thus, regulations are somewhat unclear. This is especially true when you consider that new users are only required to provide an email address to get started. As we noted earlier, one of the main attractions for avid cryptocurrency traders is that the platform has one of the largest lists of supported coins. While the main players – notably Bitcoin, Ethereum, Bitcoin Cash, Litecoin and EOS, are of course supported, Binance is also good for much smaller, lower-cap tokens. However, if you move up the pecking order as VIP 1, VIP2, all the way up to the VIP 9 level, you can experience spot trading fees of as low as 0.012% as the maker and 0.0240% as the taker. Then, there is a dual investment option with an option to settle at a pre-defined price and earn higher yields.

Move your mouse over Trade, and then click on Classic.

• Knock on wood, but Binance security hasn’t given me any scares so far.
• Although the company now has its headquarters in the European Isle of Malta, the project was founded by Chinese national Changpeng Zhao (CZ).
• Its Binance exchange is the biggest crypto exchange by volume and ranks among the most recognized globally.
• It’s been started with a simple idea in mind – provide a simple, intuitive, fast, and robust cryptocurrency trading interface.

If you’re new to Binance and don’t have any supported cryptos yet, no worries. Options like Visa and Simplex are available, but keep in mind, they tack on extra fees. For those who prefer a more direct approach, P2P trading and cash balances are your go-to. And if you’re into third-party payments, Binance has got you covered. Although there are no fees for deposits, withdrawal fees can vary, depending on the fiat currency or crypto.

Binance Customer Support

Any important announcements are usually broadcast on the official Binance Twitter account (there is also a separate helpdesk for customer service inquiries at @BinanceHelpdesk). There are many applications for the revolutionary blockchain technology, which has only been around for a little over a decade, and non-fungible tokens (NFTs) are one of these use cases. To make things easier for you, we have even prepared a simple step-by-step guide on how to stake Ethereum 2.0 on Binance. Please note that the staking procedure is similar for all digital assets. The Advanced interface functions more or less identically to the classic but comes with more sophisticated charting tools and advanced order types. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.

Coins Available on Binance

For added convenience and security, consider adding your wallet as a ‘whitelisted’ address. This way, you can withdraw crypto from Binance without the hassle of complex verification each https://www.tokenexus.com/vid/ time. Binance lets you switch between crypto and fiat deposits seamlessly. Just remember, depositing fiat currency requires a verification process, and most deposits come with a 2% fee.

All Crypto Exchanges may look similar to you but they’re NOT all the same!

If you hold a balance in the platform’s native Binance Coin, then you can use this to pay your trading fees. As such, your 0.1% standard trading fee is reduced down to 0.075%. 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. To withdraw crypto, you can head over to the Fiat and Spot section of the interface, under “wallets,” and click on the “withdraw” tab against any asset of choice.

Customer Support and Service

The same depends on your VIP level and even the type of asset that you are borrowing against. It also allows promising web3 startups to launch their tokens, raising funds in the process. Over 70 binance review unique projects have found their place on Binance’s Launchpad. Some projects even come with launch pools, offering additional liquidity-specific and staking-related use cases, all on Binance.

Furthermore, this Binance review should not be considered an official endorsement of the Binance exchange, it is merely for informational and entertainment purposes only. Readers should always consider their personal financial obligations and do their own research before making any investment decisions. Regardless of these regulatory needs and controversies, Binance remains a market leader across the spot and derivatives market. Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won’t pretend to make love after divorce.

Our testing covered many aspects of Binance, including functionality, performance, security, usability, and compatibility. It is better to look for this segregated interface while using the mobile app. As for the account setup process, you simply need to log in using your email and phone.