What is Binance?
Binance is one of the largest cryptocurrency exchanges in the world. Since its establishment in 2017, Binance has attracted a large number of users with its user-friendly interface, rich trading products and multi-language support. This article will introduce Binance's registration process, products and services in detail, and answer some common questions.
Exchange name: Binance
Founder: Changpeng Zhao
Year of establishment: July 2017
Official website: https://www.binance.com
24-hour trading volume: $14,374,657,190
Number of supported currencies: 414
Platform Token: BNB
Popularity: Currently No. 1 in the world
Product Type: Rich
Security: High
Is it a scam: No
About Binance
Binance was founded by Canadian Chinese engineer Changpeng Zhao, who invested all his money in Bitcoin in 2014 and became the co-founder and chief technology officer (CTO) of OKCoin, China's largest Bitcoin trading platform at the time. In July 2017, he created the Binance exchange and issued his own platform currency BNB.
Advantages of Binance
1. The world's largest cryptocurrency exchange: well-known and with users all over the world.
2. High security: Multiple protection measures to ensure the safety of user assets.
3. Low transaction fees: Compared with other exchanges, Binance’s transaction fees are lower.
4. User-friendly interface: easy to operate, suitable for novices.
5. Rich trading pairs and currencies: Supports multiple cryptocurrencies and trading pairs.
6. Diverse products: Provides a variety of products including spot trading, contract trading, leverage trading, etc.
7. Multiple deposit and withdrawal methods: Supports multiple deposit and withdrawal methods.
8. Easy access to information: Provide detailed market analysis and research reports.
9. There is online customer service: users can contact customer service at any time to solve problems.
How safe is Binance? Is it a scam?
Binance has done a lot of work in terms of security and provides a variety of protection features to ensure the security of users' information, such as:
- Two-factor authentication (2FA): authenticator, phone or email verification.
- Email Notification: Users will be notified via email of any activity on their account.
- Account activity management: Users will be notified when logging in from a different location or using different devices.
- Passkey and biometrics: the latest authentication methods.
In addition, Binance has set up SAFU (User Asset Security Fund), into which part of the transaction fees will be deposited to deal with unforeseen events. Binance also provides proof of reserve PoR, so users can check Binance's asset reserves at any time to ensure the safety of their assets.
Binance registration tutorial
As the world's largest cryptocurrency exchange, Binance is the first choice for entering the cryptocurrency circle. At the same time, mainland users can also register and use Binance for deposit and withdrawal transactions.
1. Change IP address to Taiwan
Change your IP address to Taiwan/Korea/Hong Kong, Taiwan IP is preferred
Be sure to avoid the United States ⚠️ Singapore ⚠️ Canada ⚠️ because these countries have restrictions on registering Binance
2. Go to Binance official website or open Binance App (fill in referral code: 835078798 to enjoy new user discount)
Binance official website registration link: Binance registration to enjoy permanent rebate rewards
3. Register using your +86 mobile phone number or email address, set a strong password and submit your registration
Recommended emails include Gmail, Outlook, etc.
4. Perform standard identity authentication: Use ID card + face for real-name authentication
5. Bind Google Authenticator or Binance Authenticator to enable two-step verification (2FA) to ensure account security (this step is optional, but for the sake of user account security, please be sure to complete it)
6. If you want to download the mobile version of Binance App, for security reasons, Android users must go to the Binance official website to download it. Apple users will have to go through some troubles and need to purchase a Taiwan Apple ID first (available on Taobao, search directly for an Apple account. Keywords are too sensitive and may not be able to search for products. You can change the search method, such as searching for keywords such as Apple i, Apple i’s foreign, etc.). After purchasing the account, log in, then search for Binance on the App Store and click to download it directly.
Binance APP download: Official website APP download
7. Complete Binance and real-name authentication to start currency trading [Note] Investment is risky, please treat it rationally
Deposits and Withdrawals on Binance
payment
1. Existing cryptocurrency assets: withdraw assets directly to your Binance account address.
2. No cryptocurrency assets: You can buy cryptocurrencies using fiat currency (credit card, Apple Pay, Google Pay) through Binance.
Withdrawal
1. Withdraw to non-Binance account or address: withdraw funds directly from your Binance account to a designated address.
2. Sell crypto assets: Sell crypto through Binance.
Binance Transaction Fees
Binance's handling fees vary depending on the product type, user level, and whether the platform currency BNB is used. The specific rates are as follows:
| Level | 30-day trading volume (BUSD) | and/or | BNB holdings | Maker/Taker | Maker/Taker (25% off BNB) |
|------------|----------------------|-------|-----------|-------------|-------------------------|
| Regular users | <1,000,000 BUSD | or | ≥0 BNB | 0.1000%/0.1000% | 0.0750%/0.0750% |
| VIP 1 | ≥1,000,000 BUSD | AND | ≥25 BNB | 0.0900%/0.1000% | 0.0675%/0.0750% |
| VIP 2 | ≥5,000,000 BUSD | and | ≥100 BNB | 0.0800%/0.1000% | 0.0600%/0.0750% |
| VIP 3 | ≥20,000,000 BUSD | and | ≥250 BNB | 0.0700%/0.1000% | 0.0525%/0.0750% |
| VIP 4 | ≥100,000,000 BUSD | and | ≥500 BNB | 0.0700%/0.0900% | 0.0525%/0.0675% |
| VIP 5 | ≥150,000,000 BUSD | and | ≥1,000 BNB| 0.0600%/0.0800% | 0.0450%/0.0600% |
| VIP 6 | ≥400,000,000 BUSD | AND | ≥1,750 BNB | 0.0500%/0.0700% | 0.0375%/0.0525% |
| VIP 7 | ≥800,000,000 BUSD | and | ≥3,000 BNB| 0.0400%/0.0600% | 0.0300%/0.0450% |
| VIP 8 | ≥2,000,000,000 BUSD | AND | ≥4,500 BNB | 0.0300%/0.0500% | 0.0225%/0.0375% |
| VIP 9 | ≥4,000,000,000 BUSD | and | ≥5,500 BNB| 0.0200%/0.0400% | 0.0150%/0.0300% |
Binance Features and Products
As a leading global exchange, Binance offers a wide range of features and products. Here are some of its main services:
1. Spot Trading: Basic trading function, users can buy and sell cryptocurrencies on the exchange.
2. Contract trading: A derivative trading method where users can participate in price changes through contracts without actually owning the assets.
3. Leveraged trading: Using funds larger than actual capital to trade, magnifying profits and losses.
4. Options trading: allows users to buy or sell a specific asset at a predetermined price at a certain point in the future.
5. Grid trading: An automated trading strategy that achieves cost averaging by setting price ranges.
6. Regular investment: Buy cryptocurrencies regularly at a fixed amount to reduce risks.
7. Trading Mining: Get extra BNB rewards through trading.
8. DCA trading robot: Dollar Cost Averaging, buying assets at regular intervals.
9. Leveraged Tokens: Special cryptocurrency products that participate in price changes through leverage multiples.
10. Binance Finance: Get higher returns by depositing crypto assets.
11. BNB Income Pool: Get extra income by depositing BNB.
12. Liquidity Mining: Provide liquidity and earn income.
13. Binance Pool: The mining pool is combined with the exchange to provide financial product services.
14. Staking Mining: Participating in the blockchain network consensus mechanism by staking specific cryptocurrencies.
15. ETH staking: Participate in the consensus mechanism of Ethereum 2.0 and get rewards.
16. Launchpad: Provides a platform for new projects
