Exchange cryptocurrency Binance, how to trade, review

The increased interest in cryptocurrency in recent years, helps to actively unwind the new exchanges. All of them work in the same way, helping real people conduct deals among themselves, guaranteeing security for both parties.

The larger the exchange, the faster the orders are executed, but this is not the only important point when choosing a service.

We decided to write a review of the cryptocurrency exchange from registration to trading, because it is one of the best sites, despite its small age.

There was an exchange in 2017, but it was so quickly unwound that now its turnover is higher than on the more well-known counterparts. What brought popularity? Now you will understand.

Exchange cryptocurrency Binance, how to trade, review

Binance Exchange - the official website

The young cryptocurrency exchange began to gain popularity in 2017. Today it has already entered the TOP 30 exchanges in terms of turnover per day . The official office of the company is in Shanghai.

The history of the development of this site is not so long as to tell a lot about it.

Interesting news was published in August 2017, when JiHe (former co-founder) joined the development team.

Judging by the indicators, such an event really well influenced the development, and the rate of their own cryptocurrency instantly rose by 40%.

The startup of the startup ICO has raised $ 15 million. Many large companies and private entrepreneurs from China support Binans.

And the administration of the exchange does not cease to work on improving the system and has already stated that their platform will strictly comply with the requirements of the law.

How is Binance better than its competitors?

When this project was launched, there were already large and popular exchanges on the market. So why many traders and cryptocurrency holders decided to switch to Binans? This service has some advantages:

  • huge trading volumes, there are always many orders for almost every available cryptocurrency;
  • a wide selection of cryptocurrencies, even ICO start-ups are added;
  • at Binans the commission for trade is the lowest. It starts from 0. 1%, and if you use BNBBinance (their own cryptocurrency), the commission is even lower;
  • there is a verification to increase limits, but it is not necessary to pass it, because the default output is 2 BTC per day (this is quite enough);
  • additional account protection measures are available to users. You can connect the authorization confirmation via SMS or mobile application;
  • the exchange works steadily, according to the developers, it can process over a million operations in a second;
  • for experienced traders a multifunctional interface is offered. Indicators and forecasting tools are available;
  • you can make extra money with the stock exchange using the referral system.

Obviously, this exchange has not just won an impeccable reputation and lured users from competitors. Particularly pleased with the two-factor authentication Binance, because the storage of the crypt online always raises questions in terms of security.

Registration and Verification at Binance

To become a customer of the exchange, go to the official Binance website and proceed to registration. It is standard, the form is filled in - mail and 2 times the password, captcha immediately appears. Please note that a letter is sent to the Email for verification, therefore the mail must be working:

Exchange cryptocurrency Binance, how to trade, review

After following the link from the letter, you will be authorized and you will immediately be offered the choice of a way to increase security.

Chinese users can install SMS checks, only the method through Google is available to us. You need to install the Binance application and receive codes through it, the website has all the instructions:

Exchange cryptocurrency Binance, how to trade, review

In your personal account you will also see a form through which you can proceed to verification. It is not necessary to do this, because the daily limit on withdrawal up to 2 BTC is usually enough. How does the identification work?

A detailed form is filled in, scans of documents and a photo with a passport are attached to it:

Exchange cryptocurrency Binance, how to trade, review

Again, the official website has all the instructions, when you pass a personality check, you are not just told what you need to send, but also show illustrations.

How to replenish and withdraw from Binance?

There is no fiat money account on this exchange, so you have to immediately deposit cryptocurrency on your balance. Because of this, newbies are constantly interested in how to refill an account on Binance.

If there are any coins, there will be no problems, go to the section with your balances, select the desired token and make a deposit, simply sending funds to the specified address:

Exchange cryptocurrency Binance, how to trade, review

If there is no cryptocurrency, you will have to use exchangers. It is best to buy Bitcoin first, because all cryptocurrencies have a pair with this altcoin.

Go to, through the sidebar, choose what money you want to change for Bitcoins and get a list of high-quality exchangers:

Exchange cryptocurrency Binance, how to trade, review

Choose from the first lines, there are the most profitable conditions. So, the Binans Exchange has already provided us with the address of the wallet to which a transfer is required to replenish the internal account.

Copy the number of this wallet, indicate in the exchanger and confirm the operation (depending on the currency you give):

Exchange cryptocurrency Binance, how to trade, review

The output from Binance occurs in a similar pattern . Please note that without activation of two-factor authentication, it is impossible to order payments from the exchange.

From your account you can easily transfer Coins to a cryptocurrency wallet or you can also use exchangers in the opposite direction:

Exchange cryptocurrency Binance, how to trade, review

We recommend creating a Bitcoin wallet for all beginners in Russian, so that it is convenient to store cryptocurrency or not have to use exchangers. Do not keep too large amounts on the exchanges, despite all the methods of protection, it is not the safest option.

How to trade a cryptocurrency at Binance?

In general, the Binans trading platform is not much different from those offered by competitors. After replenishing the account, you can go to the mall and select the cryptocurrency for the transaction.

Available orders will be shown on the left, in the center there is a chart and a buy / sell form, on the left is a list of currency, pairs and history for the selected asset:

Exchange cryptocurrency Binance, how to trade, review

This is one of the few exchanges that offer an additional type of trading platform. The Russian-language version of the site is not the best, so you need to click on the shopping center and then select "Advance" to go to such a platform:

Exchange cryptocurrency Binance, how to trade, review

Perhaps it will be more convenient for you . There are no serious differences, and the most important is the forms of sale and purchase of cryptocurrency. As in many exchanges, they are simple, the price is entered, the number of coins and the button is pressed.

After that, an order is opened, you need to wait for someone to accept the deal. To not have to wait long, use the orders of other users:

Exchange cryptocurrency Binance, how to trade, review

Trading on Binance has 3 modes. The first Limit allows you to independently specify the number of coins and enter an arbitrary price for them. The second Market, orders are created here with an average price per crypt on the market.

Last StopLimit allows you to set restrictions on the sale or purchase. For example, you can set a limit for the sale, if the rate drops by 2 points.

What is BNB Binance Coin?

At the beginning of the article we said that the exchange has its own token. It is called BNB (), and it was created on the basis of Ethereum. Designed to pay commission when making deals on the stock exchange.

This is a real opportunity to make trading more profitable. In your account you will see the percentage that is available for you and the switch:

Exchange cryptocurrency Binance, how to trade, review

Just like other altcoins, this token can be traded. Each user of the exchange has an account in BNB, buy a crypt and expose the payment of the commission.

Every quarter, the administration buys out BinanceCoin, which has a positive effect on the price of coins. They can also be used for investing.

Conclusion and reviews of Binance

During the short period of time on which the exchange operates, a lot of feedback about the project has appeared.

Almost all of them are positive, because the interface is convenient, there is Russian, the site is stable and the commissions are the lowest here. It’s easy to find the following user comments on the network:

Exchange cryptocurrency Binance, how to trade, review

What customers sometimes complain about is not the best translation of the site and the lack of accounts for fiat money. Given the efforts of the developers, soon these shortcomings will eliminate.

Until the withdrawal of national currencies appears on the stock exchange, users will be forced to conduct exchanges through third-party services. Therefore, Binans is now better to use it to make money on trading.

Replenish your account and scroll through your capital by buying and selling a crypt.

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