Binance Exchange - the world's largest Bitcoin exchange, register to receive a 20% commission rebate.
Binance Registration:https://www.binance.com/zh-CN/join?ref=ECZFCWPV(20% commission rebate)
Binance: The world's first Bitcoin spot exchange and one of the top three exchanges in China, with high security and depth.
What is Binance cryptocurrency exchange?
Binance was founded by Canadian Chinese engineer Changpeng Zhao.
In 2017, he conducted the initial coin offering (ICO), and the token was called Binance Coin (BNB).
Investors who participate in the ICO will receive BNB as a reward (BNB is the platform currency, that is, the token issued by the trading platform itself), which can be used to trade cryptocurrencies on the Binance platform and pay related fees.
After successfully raising funds, Zhao Changpeng founded the Binance exchange in Hong Kong in July 2017.
Later, the server and headquarters were moved to Japan, but because China and Japan have very strict regulations on virtual currency transactions, they were finally moved to the Republic of Malta, which is more friendly to virtual currencies.
Tutorial on buying Bitcoin on Binance
1. Open the link
1. Open the Binance exchange registration link
2. Click "Register"
2. Registration
2.1 After clicking register, the following page will be displayed
2.2 Open your mailbox to check the email from Binance
3. Login
IV. Asset Center
5. Top-up
6. Trading Introduction
Advantages of Binance
1. Support multiple cryptocurrencies
There are hundreds of cryptocurrencies that can be bought and sold, including well-known cryptocurrencies such as Bitcoin and Ethereum, and even smaller ones such as ZCoin (XZC).
Of course, before sufficient research, investors are advised not to touch various unpopular virtual currencies, and try to focus on currencies with high liquidity.
2. High liquidity
The trading volume is larger than that of other exchanges, which means that the cryptocurrency liquidity here is better and buying and selling will be smoother. For example, if you want to buy a cryptocurrency, but the trading volume is low, it will be difficult to buy. This is also the benefit of choosing a large platform.
3. Low handling fees
The transaction fee is lower than that of other exchanges. The transaction fee for cryptocurrencies is less than 0.1% (the fee rate depends on the currency and method). If you use the platform currency (Binance Coin BNB), there will even be additional transaction discounts.
For example:
Binance spot transaction fees: maker transaction fee (0.1%~0.02%), taker transaction fee (0.1%~0.04%)
Binance Futures Fees: Maker Fee (0.02%~0%), Taker Fee (0.04%~0.017%)
4. Provide ICO
There are ICO services and many newly launched cryptocurrencies can be bought and sold on the Binance exchange.
5. Allow users to query reserve funds
Proof of reserves can be used to understand the asset allocation of a virtual currency platform company and the ratio of assets to liabilities.
Binance provides users with the ability to check their own reserve proof, and this information will be regularly announced on the official website. According to the latest Binance reserve rate, it exceeds 100%.
The reserve ratio can be understood as a debt ratio similar to financial reports. When the reserve ratio is higher (more than 100%), it means that the company is able to repay its liabilities; conversely, the lower the reserve ratio (less than 100%), the need Pay attention to whether the company is over-leveraged and the company risk is also higher.
6. Multiple deposit methods
The deposit methods provided include credit card, debit card, bank account transfer, and mobile payment such as Apple Pay and Google Pay.
Disadvantages of Binance
Customer Support
There are mixed reviews about the customer support provided by Binance exchange. Although you can contact Binance via email or live chat, some users report long delays. This is probably because the exchange has a large number of customers, so we hope that Binance can improve their response time. There is also no phone support, which is provided by other popular exchanges such as Coinbase.
No fiat deposits or withdrawals
One of the biggest drawbacks of the Binance exchange is that customers cannot deposit funds using traditional payment methods. Other well-known exchanges such as Coinbase, Kraken, Livecoin, and HitBTC allow customers to use their debit or credit cards. Some even accept bank transfers and PayPal!
Since Binance does not support fiat deposits, it makes it difficult for beginners to buy cryptocurrencies for the first time. First, you need to buy cryptocurrencies such as Bitcoin or Ethereum using fiat currency, which you can then deposit on Binance and trade for other coins.
This also means that you can only withdraw cryptocurrencies from the Binance exchange as well.
