Binance 2024 Review: The Crypto Giant Standing Tall

Now that we’ve discussed some of their advantages in this Binance review, let’s take a look at a few of the exchange’s less-than-ideal points. This Binance review will give you a complete overview of the Binance exchange. Once you have read this, you will have a good understanding of whether it is the right exchange for you. Farran Powell is the lead editor of investing at USA TODAY Blueprint. She was previously the assistant managing editor of investing at U.S. Her work has appeared in numerous publications including TheStreet, Mansion Global, CNN, CNN Money, DNAInfo, Yahoo! Finance, MSN Money and the New York Daily News.

Similar regulatory approvals have been acquired for operating in Kazakhstan, several Middle Eastern countries like Dubai, Bahrain, and Abu Dhabi, and Asia-Pacific countries like Indonesia, Japan, and more. Check these at-a-glance pros and cons to get a feel of the benefits and limitations of this exchange. Then, there is the Binance blog binance review that tracks every major event within the ecosystem. Also, Binance boasts a very strong community, with its presence and popularity visible via the global spread, a large number of Twitter followers, user contributions via the Binance Feed, and more. Binance also offers a dedicated authenticator to help you with two-factor authentication.

Can I store money in Binance?

Generally, a crypto wallet is a relatively secure place to store your assets. Founded in 2017 by software developer Changpeng Zhao, Binance is a decentralized crypto exchange that was originally based in China. It’s no wonder that Binance leads the pack when it comes to daily trading volume. Add to this the ability to offer a truly worldwide service away from the grip of the Chinese government, and there’s not much to stop Beiji Technology. However, Binance stated that all losses would be covered by its emergency insurance fund (aka SAFU). Just like on Binance, fees are reduced as your trading volume increases.

And if even P2P is too much work, you can choose the “Express” buy and sell option. Using this, you can quickly buy crypto at a competitive price without having to check every other offering. In less than two years of trading, Binance has since become one of the largest cryptocurrency exchanges in the industry.

Commissions and fees

Binance has entered the decentralized financial loaning and borrowing space with its crypto-lending platform. Traders on the platform can use their digital currency assets as collateral to obtain an instant cash loan or lend out their holdings to earn interest. Any user on the Binance platform is eligible to obtain a crypto-backed loan.

On top of Spot markets, Binance also supports Margin, Futures, and other types of trading – another point that’s likely quite important for advanced traders. Candlestick bars allow you to view the opening, highest, lowest, and closing price of a cryptocurrency over a specific time period. If you are a more experienced trader, the advanced options allow you to view more detailed statistics. For example, if you were interested in the price movements between Bitcoin and Ethereum, there are more advanced graphs you can view. You will now need to select the currency and payment processor that you’d like to use.

Recent Binance User Reviews

Behind the scenes, your crypto holdings will be converted to fiat when you make a purchase (with zero fees), so that you don’t have to hold fiat on-hand. The card is completely free with no admin or processing fees and lets you earn up to 8% cashback on eligible purchases. Users can choose between a beginner-friendly https://www.tokenexus.com/ or advanced trading interface for spot trading, catering to all types of users. The platform also offers margin, derivatives, peer-to-peer and OTC trading options. Also, if you are a strategy trader or planning to offer specific trading experiences to users, Binance offers API access.

• These days, Binance’s main use for many users is as a trading floor for cryptoassets.
• 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.
• Sure, its market share dipped a bit – from 62.3% to 44.5% – but in the BTC & ETH/USDT pairs market, it’s still the king with over 50% dominance, as Kaiko observed.
• Consult with a qualified professional before making any financial decisions.
• As of Sept. 6, BUSD was no longer a loanable asset, and Binance ceased withdrawals of Binance-peg BUSD tokens via BNB Chain, Avalanche, Polygon and Tron on Sept. 7.
• You can procure standard trading margins of 3x to even 10x, depending on the type of trades you want to execute.