Binance

Binance cryptocurrency platform

Trading platforms are now attracting customers with a large selection of trading pairs and lucrative commissions. This maximises the benefits of buying and selling cryptocurrencies. The Binance cryptocurrency exchange, for example, trades more than 500 instruments. And that makes it one of the most visited platforms.

Key features of the Binance exchange

Although Binance only came into existence in 2017, it currently leads the market in terms of average daily trading volumes and the number of available instruments. This, along with its excellent reputation, has allowed Binance to overtake most of its competitors.

In addition, until a year ago, one of the main advantages of the exchange was the ability to trade anonymously. Of course, there were withdrawal limits for visitors, but it was not necessary to verify the account. However, in August 2021 some European countries imposed restrictions, due to which it was decided to introduce obligatory user verification.

History

Chinese businessman Changpeng Zhao founded Binance in 2017. The company initially operated in Hong Kong, but after some time the head office moved to Malta. In addition to the crypto exchange, the Binance Coin token was launched. And after two years, the number of registered users on the platform reached 15 million.

Regulation

Some novice traders may be intimidated by the site’s ambiguous legal status. The fact is that last year, the authorities of some countries warned the Binance management that the company cannot conduct financial activities without a license. Therefore, all relevant approvals should be obtained soon.

Types of orders

Currently, the following types of orders are available to users on the spot market:

  1. market. Execution of an instant sell or buy order at the current price.
  2. Limit. The trader sets specific quote levels and the order is executed on these values.
  3. Stop-Limit. Not only limit value is specified but also stop price.
  4. OCO.Two orders are added at once. When one triggers, the second one will be cancelled.
Binance cryptocurrency exchange

Terms and Conditions

All requirements are available on the official website of the trading platform. Registration is possible subject to the following conditions:

  1. The user is 18 years of age or older.
  2. Not a citizen of the USA, Malaysia or Ontario province in Canada.
  3. The user does not already have an existing profile on the platform.

In addition, some countries have restrictions on certain trading and investment instruments. And in Australia, it is forbidden to conduct transactions with anonymous coins.

Mobile app

Is a great solution for those who rarely sit in front of a computer. The mobile app allows you to access all the features of the trading floor on your smartphone or tablet.

Binance Bonuses

Bonuses are used to attract new and regular customers. Promotions are payments to the most active traders. The types of bonuses change regularly, but the most interesting ones are worth mentioning:

  1. Vouchers, which can be used to purchase perpetual contracts. In order to do that you need to deposit your account for the amount starting from 300 BUSD. In addition, there are conditions for trading volume.
  2. Rebates for trading futures. 
  3. Also the company often holds contests with the prize fund up to € 500 000.

Registration

In order to create a profile, you will need to provide a telephone number or email address. When you visit the platform for the first time, you will need to go through the verification procedure. At the moment, it is compulsory.

Binance has all the qualities of a reliable and convenient trading platform. Visitors can fund their accounts with fiat and digital currencies, trade and perform other operations. Also, one can get bonuses for attracting new clients through a referral program.