Сryptocurrency exchange Binance

Binance is the world’s largest cryptocurrency exchange, used by over 241 million users globally. The platform boasts a daily trading volume exceeding $65 billion. In addition to currency exchange and various financial services, users can securely store their assets and earn passive income. Binance also provides a wealth of educational and analytical resources in its Research, Square, and Academy sections.

Launched in 2017 by Chinese financier Changpeng Zhao, Binance quickly became the go-to platform for cryptocurrency enthusiasts. While Zhao stepped down as CEO in 2023, the exchange continues to thrive.

What is Binance? It’s challenging to define in just a few words, as the platform caters to all market participants: traders, borrowers, and creators of new coins and NFTs. With its extensive range of trading options and tools, Binance is a nearly universal solution for cryptocurrency activities.

The first step to using the platform is to register for Binance. After that, you’ll need to address key processes such as:

• Verification of your account.
• Authorization for secure access.
• Depositing funds and withdrawals.
• Exploring available user features.

Joining Binance is quick and easy, especially if you already have an active Google or Apple account. The entire process takes less than a minute: simply confirm your action and wait for a confirmation message.
For the classic Binance registration, follow these steps:

1. Click the Sign-Up button on the homepage.
2. Enter your Email/Phone number in the required field.
3. Agree to the terms and conditions, then click Next.
4. Enter the 6-digit code sent to you (valid for 30 minutes).
5. Create a strong password (minimum of 8 characters) and click Next.

And you’re all set!

Account limits and user privileges depend on whether you’ve completed the Binance login verification process. For fiat currency transactions, at least a basic level of verification is required. Here’s how:

1. Open your account and select Identification.
2. Choose your country and fill out the required personal information.
3. Upload a photo of your documents.
4. Complete the video verification process.

Binance verification typically takes up to 48 hours, but results are often available sooner.

Users can log in through social accounts or with their email/phone number and password. To complete the Binance login process:

1. Click Log In.
2. Select your preferred method and follow the instructions:
   • Google/Apple: Confirm your active profile.
   • Email/Phone number: Enter your contact details and password.
3. Provide a verification code if two-factor authentication is enabled (highly recommended).

Even if you forgot your password, it’s still able to open the login Binance page. Don’t worry — there’s an option to reset it and continue using the platform.

Your Binance account offers several key sections:

• Dashboard. Provides user data, news, and detailed evaluations.
• Assets. Manage your wallets for trading and other financial operations.
• Orders. Track current and completed transactions.
• Rewards Hub. Access tasks rewarded with Binance bonuses.
• Referral. Use this section to earn a Binance referral bonus by inviting new clients.
• Account. View personal details, complete verification, and more.
• Sub Accounts. Create additional accounts to expand trading capabilities.
• Settings. Customise your security and preferences.

The Binance app's interface may vary slightly, but all features remain accessible. Users can also delete or block their accounts if necessary.

If you have cryptocurrency on another platform, you can transfer it to your Binance wallet for storage, trading, or investment:

1. Log in to your Binance account and select the Binance Deposit option, then choose Deposit Crypto.
2. On the next page, select the cryptocurrency (e.g., BTC, USDT, or BNB) and the corresponding network (e.g., Ethereum, Tether, Solana (SOL), or others).
3. Fill in the MEMO field if required (for networks like EOS, BEP2, and some others).
4. Copy the deposit address or scan the QR code for the platform from which you’re transferring funds.
5. Authorize the transfer.

The Binance deposit minimum varies depending on the asset. Confirmation times depend on the network type and its current load. Ensure the network matches the wallet you’re transferring from; otherwise, the funds may be permanently lost. Following all guidelines is critical for a 100% proven exchange. Alternatively, you can buy cryptocurrency directly on Binance using fiat currency through credit/debit cards or bank transfers.

Binance Withdrawal of cryptocurrency to an external wallet is straightforward but requires extra caution:

1. Open your wallet and click Withdraw.
2. Select Crypto Withdraw.
3. Choose the cryptocurrency to withdraw.
4. Enter the recipient's wallet address.
5. Select the network matching the recipient's address.
6. Confirm the transaction.
7. Wait for Binance to confirm the transfer.
8. Wait for the recipient to notify you of the funds’ arrival.

After learning how to withdraw money from Binance, carefully verify all details before actual withdrawal. Withdrawal fees depend on the network and transaction amount. Reliable crypto exchangers can facilitate the process for those looking to convert cryptocurrency to fiat. In this case, you may need to wait a bit longer as the service transfers the funds to your card or other payment methods.

In addition to the official website, Binance offers a mobile and desktop Binance app compatible with the following operating systems:

• Windows.
• Android.
• iOS (including watchOS).
• macOS.
• Linux.

Simply select the version suited to your device.

If you prefer accessing Binance on your smartphone or tablet, the mobile app is highly recommended, as the mobile site may sometimes load slower than expected. The Binance APK file for Android is available on the Google Play Store, and users can be directed to the correct page via the Binance website.

iPhone and iPad users can install the app via the App Store. A link to the app page is also available on Binance’s website. Ensure your device runs on iOS 14.0 or newer. Additionally, a widget called Binance for iOS can be installed for quick access to market data on your Home screen. Three widget options are available: Mini (Displays one coin), Medium (Displays three coins with trend lines), and Large (Displays six coins with trend lines).

Desktop users can install the Binance app for Windows, macOS (Intel Chip or Apple Silicon), and Linux (rpm or deb packages). The installation file can be downloaded directly from the Binance platform. While the interface differs slightly from the website, it’s intuitive enough to quickly get accustomed to all features.

Binance trading fees vary depending on the type of transaction and the assets involved:

Binance fees can sometimes be zero. For instance, there are no fees for depositing funds into your account. VIP members and participants in Binance liquidity programs enjoy even better terms, including discounts that grow with higher trading volumes. Specific conditions for Binance trading fees are detailed on the official Fees page.

When answering the question of what is Binance, the first thing to highlight is that it's a trading platform supporting 350+ cryptocurrencies. Beyond buying and selling digital assets, users can:

• Conduct fast transactions via Binance P2P;
• Earn passive income through Binance Earn;
• Launch and invest in new tokens using Binance Launchpad;
• Trade, buy, and even secure loans with NFTs on the Binance NFT Marketplace.

These features are just the tip of the iceberg. Binance also provides access to educational resources, market news, analytics, ratings, and more.

Binance P2P allows users to trade currencies directly with one another. To purchase assets, select a listing that suits your parameters (amount, currencies, and payment method). Then transfer the funds and wait for the seller's confirmation to receive the cryptocurrency in your wallet.

Selling assets works similarly in reverse: create an order specifying the amount, currency, and payment details. Then confirm receipt of payment once it's deposited into your account. The reserved cryptocurrency will then be released to the buyer. P2P Binance offers a reliable and transparent system for direct crypto exchanges.

Binance Earn enables users to earn stable returns on their digital assets while guaranteeing the safety of the initial investment. Earnings depend on the cryptocurrency, deposit duration, and withdrawal conditions. Fixed deposits offer higher interest rates but lock funds for a specific period. Meanwhile, flexible deposits provide lower returns but allow users to withdraw funds anytime.

The Simple Earn feature supports 300+ cryptocurrencies, enabling users to create diverse investment portfolios. Additionally, users can benefit from ETH staking with contributions as low as 0.0001 ETH. Participation in DeFi projects provides further opportunities for Binance earning.

Binance Launchpad offers comprehensive consulting and marketing services for projects planning to launch new tokens. Creators gain access to Binance's global audience, ready to invest in promising ventures. At the same time, Binance clients can invest in these tokens at the earliest stages, unlocking potential long-term gains.

The Binance NFT Marketplace connects creators of digital art with investors and collectors. Its offerings include exclusive NFTs from trending artists and renowned brands. Users can trade NFTs directly, place bids to purchase NFTs through auctions, and use NFTs as collateral for crypto-backed loans. Supported currencies include BNB, ETH, BUSD, MATIC, and others.

Binance supports a broad range of trading activities across hundreds of digital assets. Clients can engage in spot trading, margin trading, and Futures and options trading. Binance provides advanced online tools to simplify the trading process, while the Binance support team is available 24/7 to assist users with any queries.

Spot trading involves buying or selling one cryptocurrency for another at current market rates. Users can access this feature via the Spot page in the Trade section. For each trading pair, Binance displays 24-hour trading volumes and market trends via candlestick charts.

Steps for placing a trade:

1. Select your trading pair.
2. Choose between Buy or Sell.
3. Specify the order type.
4. Input your desired price and purchase amount.
5. Click Buy or Sell to place the order.

For immediate execution on Binance, opt for a Market order. If you prefer to trade under specific conditions, select a Limit order.

Margin trading, meanwhile, allows users to amplify their trades by borrowing funds from third parties, thus enabling larger transactions and potentially greater profits. Binance offers both isolated-margin and cross-margin trading options.

In spot trading, there are two primary types of orders:

1. Market. This is an instruction to immediately buy or sell an asset at the current market price.
2. Limit. This order is executed only when the market price reaches the value specified by the user.

When placing a market order, you can choose between the Amount or Total options. The first option is used if you need a specific amount of cryptocurrency. You can choose Total if you want to stay within a particular budget.

A limit order is executed either when the market reaches the specified price or at the best price available within a given time frame. This allows buyers to aim for a lower asset cost or sellers to achieve the highest possible price when selling cryptocurrency.

Binance Futures are designed for experienced investors, offering financial contracts whose value is tied to an underlying asset, such as USD-M or Coin-M. The crypto futures market is one of the fastest-growing in the industry, with monthly volumes in the trillions of dollars. Key advantages of futures trading include:

• The potential to earn quick profits without owning the asset;
• Access to leveraged products with minimal initial costs;
• High liquidity, reducing risks;
• The ability to maximize profits using various strategies (pair trading, arbitrage, short selling, and more).

With futures, you can profit from both rising and falling asset prices. Open a long position (Buy) if you expect prices to increase or a short position (Sell) if you anticipate a decline. To start trading, you’ll need a dedicated Binance Futures account.

Options are contracts that allow investors to trade the underlying asset at a set price by a specific date, without being obligated to execute the trade by the deadline. On Binance, these operations are conducted in stablecoins. Participants only need to pay a premium to join a deal, making options trading more accessible compared to futures or spot trading.

Binance’s global popularity is built on its reputation as a reliable intermediary—an essential evaluation criterion in crypto trading. While cryptocurrency trading inherently involves risks due to market volatility, Binance implements robust measures to secure user accounts and transactions:

• Advanced data protection technologies;
• Routine identity verification during login and financial transactions;
• Options to add extra layers of authentication for user accounts.

However, much depends on the user. It’s essential to follow basic security practices and exercise caution when performing external transactions.

The Binance exchange actively rewards users for trading and completing various tasks through its promotional, VIP, and affiliate programs.

The Rewards Hub is a portal featuring tasks that users can complete to earn vouchers or points. A voucher — or a Binance promo code — offers benefits such as:

• Free tokens;
• Fee discounts;
• Quick loans for margin trading;
• VIP status upgrades and other perks.

Points can be redeemed for rewards in the Rewards Hub. The Rewards Hub is available in user accounts, and Binance also regularly notifies clients about one-time promotions. New users, for instance, can enjoy a Binance sign-up bonus upon registration.

Binance’s Referral Program allows users to earn rewards by inviting others to the platform. There are two modes:

1. Referral. Earn rebates (commission refunds) or token vouchers for every friend who trades $100+ on the platform. The more active the referrals, the higher the rewards.
2. Referral Pro.Earn a percentage of trading fees from your referrals' transactions across spot, futures, and margin markets, with the potential to earn up to 40% in commissions.

Detailed terms for both modes are available on the Referral Program page.

The Binance VIP Program provides exclusive benefits for various participants in the trading ecosystem, including:

• Traders;
• Asset holders;
• Investors;
• Borrowers.

Users can belong to multiple categories simultaneously. VIP Binance members enjoy reduced fees, lower interest rates, higher trading limits, premium services, and additional bonuses. Eligibility depends on criteria such as asset holdings and trading volume. The higher the metrics, the more prestigious the status and rewards.

You can always rely on 24/7 Binance customer support through its online chat, the primary contact channel for users. Additionally, you can reach out via email for specific needs:

• PR@Binance.com for media inquiries;
• risk@Binance.com for suppliers and banks;
• legal@Binance.com for legal matters;
• compliance@Binance.com for regulatory compliance.

Binance also has active communities on all major social media platforms.