Responsible Trading on Binance and Our Protection Measures
Main Takeaways
Binance helps support responsible trading beyond crypto education.
A growing set of features helps foster safe trading practices, including wallet support, cooling-off periods, and pre-trading knowledge requirements.
Responsible trading is a topic we should all take an interest in. With Binance’s safeguards and measures, you can have peace of mind knowing we’re supporting your good habits.
Responsible trading should be everyone’s top priority, including us as a service provider at Binance. We’ve implemented several measures to help our customers make responsible decisions when buying and selling on the crypto market. Along with our educational resources and efforts, Binance is one of the best places to learn how to become a responsible trader and practice these skills.
How We Protect Users When Trading
There’s really no substitute for good personal trading habits and practices. However, we can help build on these skills and foster them with product features and integrations. Some of these will affect how and when you can trade, and others will provide you with information and warnings on possible risks. Let's go through some of these features.
Binance Innovation Zone
Our Binance Innovation Zone allows users to trade newer token offerings on Binance while educating new users on the risks involved. To gain access to the Innovation Zone, you first must complete a quiz to ensure you understand the possible volatility that comes with trading new tokens. You may refer to Binance Innovation Zone & Listing Updates for more details.
Margin beginner quiz
Before margin trading, you must understand its unique risks. Alongside our educational materials and courses on Binance Academy, we also have protective measures before anyone can start margin trading.
Any first-time margin user on Binance will have to go through a Margin Beginner Quiz before trading margin products. Our Margin Beginner Quiz tests your knowledge of margined products, how to use them, and the possible risks involved. To learn more about margin trading in preparation for the quiz, refer to our Binance Margin Trading Guide.
Wallet customer support
Using a wallet successfully is one of crypto’s most essential skills. However, for new and even experienced users, mistakes do happen. If you’re trying to transfer funds to Binance and make a mistake, we will try our best to help and support your fund recovery. However, do note that recovery of funds is not guaranteed. Common errors include:
Depositing an unsupported token
Depositing to an unsupported network
Depositing to the wrong address
Not adding a Tag or Memo when using specific blockchains
If you have made a deposit with the wrong or missing tag/memo, you can use our Unknown Memo/Tag Recovery Application. For more information on the process, see our FAQ on How to Retrieve Crypto Deposit with Wrong or Missing Tag/Memo.
For other cases, if your deposited funds haven’t arrived in your Binance account, you can use our Application for self-service recovery.
Futures cooling-off period
Users can better manage risks when trading futures with Binance’s Cooling-Off Period function. This feature makes it easier to trade responsibly and avoid the temptation of making “just one more trade…”. With the Cooling-Off Period function enabled, users can temporarily block trading of USDⓈ-M and COIN-M Futures, Options, Grid trading, and Futures Battle via the Binance website, app, desktop, or API.
Various durations for the cooling-off period are available, ranging from one day to a month. For more information, read our What Is Cooling-off Period Function and How to Use It FAQ article.
Responsible Trading Starts Here
We’re happy to give responsible trading a home at Binance. We want to support users in exercising control over their trades and not going beyond their means. The spectrum of responsible trading is broad, and wherever we can support it in our products, we’ll continue to do so.