I. What is Binance Exchange?
Binance Exchange is a significant cryptocurrency exchange that was created in Hong Kong in 2017. It focuses mostly on cryptocurrency trading. Binance provides crypto-to-crypto trading in over 600 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own Binance Coin (BNB).
Binance is the world’s largest cryptocurrency trading platform. It is not especially user-friendly due to its extensive range of trading choices and features. Depending on their expertise and skills, investors may face a steep learning curve with Binance.
Binance provides a comprehensive range of trading options via its desktop or mobile dashboards, including an excellent variety of market charts and hundreds of cryptocurrencies. Users may also access a number of trading alternatives, including futures and options, as well as order kinds. However, many services and functionalities are not available in the United States, and only 65+ coins are offered to consumers in the United States.
Meta Lion Ventures proudly inform of the cooperation with Binance exchange. Based on this strategic partnership, Meta Lion Ventures can fully bring the sponsorship for all connected Crypto projects.
👉 Sign up for your account through this link to receive special benefits!
- Benefits for Crypto users/projects when participating in our Affiliate Program:
- Spot commission – Up to 50%
- Futures commission – 30%
- Binance pool commission – 30%
- NFT commission – 20%
- Liquid swap commission – 15%
- Dual investment commission – 3%
- Sign-up bonus package – Share a $50 new user sign-up bonus package with your community.
II. Binance Exchange Ecosystem
Binance is more than simply a controlled exchange; it has a big ecosystem with a diverse range of products:
- Binance Academy is an open-access learning portal that provides blockchain and cryptocurrency teaching resources in one location.
- Binance Charity is a non-profit devoted to the advancement of blockchain-enabled charity and global sustainable development.
- Binance Info is a crypto-encyclopedia, a platform for aggregating open and impartial knowledge to which anybody may add.
- Binance Labs is a fund that invests in, incubates, and empowers blockchain businesses.
- Binance Launchpad is the exclusive token launch platform for entrepreneurs seeking to bring the most innovative cryptocurrency ideas to fruition.
- Binance Research delivers institutional-grade research papers, data-driven insights, and analysis to cryptocurrency investors.
- Binance’s official wallet, Trust Wallet, is a secure, decentralized wallet where users may transfer, receive, and store their digital assets.
- Binance Chain is a blockchain software system powered by a global community of developers and collaborators. Binance DEX is a decentralized exchange that is built on the Binance Chain.
III. Binance Exchange Reviews
Binance has so many features that make it one of the most popular crypto exchanges in the world. Here is a list of Binance’s advantages has to offer:
1. Advantages
- Large number of trading pairs: almost all coins/tokens are available on the Binance market.
- Support for multiple languages: Binance supports over 30 languages, ensuring that users from various nations have the most convenient experience when utilizing its services.
- Accessible services: With a non-KYC account, customers may currently withdraw up to 0.06 BTC each day and utilize the exchange’s most basic services.
- A broad range of services: as compared to other exchanges like Coinbase, Binance provides consumers with more diverse and complex products such as limit orders, stop-limit orders, OCO orders, and so on. Binance has recently incorporated additional innovative DeFi (Decentralized Finance) capabilities to its platform, like staking and liquidity farming, to give users a more smooth experience when using Binance.
2. Disadvantages
- Binance.US, the Binance exchange for US consumers, is only available in 43 states and offers less functionality than the international edition of Binance.
- Regulatory issues: Binance has had many run-ins with regulators in various nations. Binance has not disclosed its headquarters and continues to operate as a decentralized business.
IV. How to register an account on Binance Exchange
Step 1: Set up an account on their website via this link:
https://accounts.binance.com/en/register?ref=133981572
Step 2: In the upper right corner, select your native language.
You have two options here: either create a new account or sign in using your Google/Apple account. Meta Lion Ventures choose to create a new account with email.
Step 3: Enter all of the essential information, including your email address, password, and referral ID (Optional). When you’re finished, click “Next”.
Note: Your password must meet 3 conditions:
- Minimum of 8 characters
- At least 1 number
- At least 1 uppercase letter
Step 4: Check your email for the Verification Code. To validate your account, enter the code.
Congratulations! You have created a Binance account successfully.
V. How to verify an account on Binance Exchange
1. Security Verification – 2FA
Step 1: In the upper right corner, click “Go to Dashboard”.
Step 2: You can opt to authenticate your account through SMS or the Google Authenticator app. It is best to go with the second choice because it is more secure.
Step 3: In this example, Meta Lion Ventures will use the Google Authenticator app to authenticate the account.
You must first install the Google Authenticator app. When you are finished, click “Next”.
Step 4: Launch the Google Authenticator app and scan the QR code on your device.
Step 5: Save your Backup Key in case you misplace your phone and need to regain your Google Authenticator account.
Step 6: Enter 2 verification codes:
- Email Verification Code: To obtain this code, open your email.
- Authenticator Key: Open your Google Authenticator account and input the code you see on the screen of your phone.
When you have finished filling out those codes, click “Next”, and you are through with Security Verification.
Your withdrawal limit with your freshly established account will be 0.06 BTC. You must authenticate your identity in order to extend this restriction to 100 BTC every day (KYC).
2. Identity Verification – KYC
Step 1: Navigate to your account and choose “Identification”.
Step 2: Select the “Start Now” option.
Step 3: Enter all of the relevant information. And you’re done with Identity Verification.
VI. How to deposit & withdraw on the Binance Exchange
Select “Fiat and Spot” from the Wallet menu.
1. How to Deposit on Binance Exchange
Step 1: Look for the coin/token that you wish to deposit. Then click the “Deposit” button.
Step 2: Select the network where you wish to deposit. If it does not match the withdrawal network, you will lose your money.
Step 3: Copy the address and put it into the platform from where you are withdrawing money.
Congratulations! You successfully deposited cryptocurrency into your account.
2. How to Withdraw on Binance Exchange
Step 1: Search for the coin/token you wish to withdraw in your Fiat and Spot wallets and click “Withdraw”.
Step 2: Go to the platform where you want to make a deposit and paste the address into the “Address” box.
Step 3: Select the network and ensure that it matches the network of the copied address, or you will lose money.
Congratulations! You successfully withdraw cryptocurrency from Binance.
3. How to Check Transaction History on Binance Exchange
You may examine your transaction history by following these instructions.
Step 1: Select “Overview” from the Wallet menu.
Step 2: Select “Transaction History” to get a record of all of your transactions.
VII. How to trade Crypto on Binance Exchange
1. Binance Spot
Click “Trade” and then “Classic” on the site.
The following information is displayed on the Classic Trade interface:
- Candlestick chart and Market Depth.
- Sell order book.
- Buy order book.
- Market and Trading pairs.
- Your latest completed transaction.
- Type of order: Limit/Market/Stop-limit/OCO (One-Cancels-the-Other).
To begin trading, simply follow these easy instructions:
Step 1: Enter the coin/token pair you want to trade.
Step 2: Select the type of order you want (Limit/Market/Stop-limit/OCO).
Step 3: Enter the quantity and price you wish to buy/sell, then click “Buy/Sell” for that coin/token.
Using the slider below, you can quickly alter the percentage of funds you wish to utilize for that coin/token.
You now understand the most fundamental methods for buying/selling coins/tokens on Binance.
2. Binance Futures
On Binance, like Spot Trading, offers a variety of futures trading alternatives.
Meta Lion Ventures will present the most fundamental kind of futures trading: USDS-M Futures Contracts, which are linear futures contracts quoted and paid in stablecoins (BUSD/USDT).
2.1. A summary of the Futures Trading Interface
Section 1: General Information
- You trade several types of futures contracts.
- Other indexes include 24h Change, 24h Volume,…
Section 2: Price Chart
You may change the time frame to suit your needs.
Section 3: Trades and Order Book
- Pending Long and Short orders are shown in the order book.
- Orders that have been filled.
Section 4: Open Position
Section 5: Manage Position
- Open Orders
- Order History
- Trade History
- Transaction History
- PNL (profit & loss)
2.2. Guidelines to start Futures Trading
Step 1: From the site, navigate to “Derivatives” and then to “USDS-M Futures”.
Step 2: Click “Open now” to open a futures trading account.
Step 3: Scroll to the bottom of the page and select “Transfer” to transfer funds from your Fiat and Spot wallets to your Futures account so you can begin trading.
Step 4: Select the order type, provide all relevant information, and click “Buy/Long” or “Sell/Short” to open a position.
VIII. Binance Exchange App Download
Binance features an app for almost every platform, including iOS and Android on mobile, Windows and Mac OS on desktop.
1. Binance on Mobile
2. Binance on Desktop
3. Binance Authenticator
IX. FAQs about Binance Exchange
- What is Binance Coin?
Binance Coin (BNB) is a cryptocurrency that may be used to trade on the Binance cryptocurrency exchange and pay fees. As of January 2018, the Binance Exchange was the world’s largest cryptocurrency exchange, processing over 1.4 million transactions every second.
- Who is the founder of Binance Exchange?
Changpeng Zhao, also known as “CZ,” is the founder and CEO of Binance, the world’s largest cryptocurrency exchange. Zhao established Binance in 2017 and swiftly grew daily trade volume to more than $20 billion. Zhao has made a fortune in cryptocurrencies as an enthusiastic Bitcoin fan, but the majority of his $15 billion+ net worth is attributable to his stakes in Binance Holdings Ltd.
- What are Cryptocurrencies available on Binance Exchange?
Binance’s exchange supports over 365 cryptocurrencies, however just 65 or so are available in the United States. It also accepts a number of fiat currencies for overseas customers, including USD, EUR, AUD, GBP, HKD, and INR. Binance provides a wide range of cryptocurrency pairs available based on your region.
Binance Coin (BNB), VeChain (VET), Harmony (ONE), VeThor Token (VTHO), Dogecoin (DOGE), and Matic Network are among the cryptocurrencies offered on Binance U.S. (MATIC).
- Is Binance Exchange safe and secure?
Despite the recent theft, Binance users’ cash remain safe. Binance provides additional measures to secure your money in addition to the main blockchain security strategies it employs. The Secure Asset Fund for Users is one such method (SAFU). SAFU is an emergency insurance fund that keeps a portion of all Binance trading fees to compensate users in the event of a financial loss.
As a result, if a hack occurs and users’ assets are taken, the Secure Asset Fund will be utilized to compensate users. When Binance was hacked for $40 million in April 2019, all impacted users were compensated.
Conclusion
Although Binance has experienced a few security flaws in the past, the firm is usually honest about them and takes an effort to resolve security gaps.
So, if you’re new to cryptocurrency and asking if Binance is secure, the answer is yes. Binance isn’t perfect, but it’s one of the safest cryptocurrency exchanges you can trust with your money.
