Binance

Binance

  • Hong Kong

  • Full trading platform

  • Binance.com

  • Since 2018

Binance
In Social Media:
Developed Ease of use,  Enough secure,  Anonymously trading

Volume 24H: $404,517,726

Binance is a multi-coin, multilingual platform for cryptocurrency trading. The Binance engine can process transactions at an incredible rate of 1.4 million orders per second. The platform is adaptable, with both standard and advanced trading modes. There are no deposit fees and trading fees are exceptionally low but fees for withdrawals are higher than average.

Binance offers two platforms for the user: Basic and Advanced. In fact, both are relatively complex and not designed for newbies. The basic platform has a light background and the advanced is black. Otherwise there aren't that many differences. The site design is pleasing but with an overwhelming amount of information on the homepage.

Language Support

  • Chinese
  • English
  • Japanese
  • Korean
  • Russian
  • Spanish

Country Support

  • Australia
  • Canada
  • European Union
  • Hong Kong
  • Japan
  • Most Africa
  • Most of Asia
  • Most of Eastern European Union
  • Most of Latin America
  • Norway
  • Russian Federation
  • Singapore
  • Switzerland
  • Turkey
  • United Kingdom of Great Britain and Northern Ireland
  • United States of America

Platforms Systems

  • Web Interface
  • Desktop APP
  • Mobile App
  • API

Stock Market Options

Interface
customisation:

  • Allows customization of charts
  • Allows Advanced and Basic option

Advanced
Options:

  • Limit Order
  • Market Order

Binance security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
Yes
Funds Insured
Funds are not insured
Private Keys Stored On
Exchange platform
Storage Type
Hot storage

Security Features:

  • SSL

Binance is run by CEO Changpeng Zhao, who has previously worked for OKCoin, Blockchain.info, and Bloomberg. The rest of the team also has a lot of stock market and cryptocurrency experience. The exchange is quite new. It has only been active a few months, but it has grown rapidly and is often in the news. Team members have a strong online presence, offering interviews and client support.

Summary:

Binance seems very promising although it's only a few months old. It looks like more features and improvements will be added. The team seems dedicated to making the exchange better. The low trading fees and fast transaction times make it stand out. It is a pure cryptocurrency exchange with no support for traditional currencies. Security may be an issue since they don't seem to address it at all.

Ease of use
Developed
Transaction Fees
0.1-0.29%
Deposit/Withdrawal Fee
0.0005-500 CRYPTO UNITS/Withdrawal
Deposit/Withdrawal Fee c For Bank Transfer
N/A
Deposit/Withdrawal Fee For Credit Card
N/A
Deposit/Withdrawal Fee Charged For 3rd party Payments
N/A
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Send/Receive Crypto

Functionality:

The Binance platform covers a huge range of coins, many of which are not well known. It is great for trading in smaller coins, particularly the native Binance coin (BNB). They provide a fee discount if you keep your funds in BNB. Multiple languages and devices (Web, Android, Html5, Wechat, PC) are supported. Fees are quite low compared to other exchanges. Expect more functionality in the future.

Most common
customer complaint:

Lacking some advanced trading features, some issues with 2 factor authentication or logging in.