Binance Review

Futures Trading

Future trading enables traders to agree a price for an asset in the present, to be exchanged in the future. With Binance, traders can go long or short on a futures contract.

How to get started on the Futures Trading platform: 

1. Deposit USDT, BUSD into your USDⓈ-M Futures account as margin, and other Coins e.g. BTC into your COIN-M Futures as margin
2. Select the level of leverage to your preference
3. Choose the appropriate order type (buy or sell)
4. Indicate the number of contracts you wish to own

Margin Trading

Margin Trading  is a way of trading assets using money borrowed from a third-party. When you margin trade, you will be able to enter into positions larger than your current account balance.

With Binance, you will be allowed to leverage trading on several highly volatile altcoins such as:

• XTZ
• ATOM
• VeChain (VET)
• TRX
• IoTeX (IOTX)
• ALGO
• TomoChain (TOMO) C
• allisto (CLO)

OTC Trading

OTC trading  is a form of decentralized trading. This means you sell directly to the buyer through a broker, rather than through a large centralized exchange with lots of red tape and exorbitant fees.

The Binance OTC market is an option for traders who are interested in performing large trades directly and bypassing the public order books. The OTC market provides access too large liquidity without affecting the exchange market price.

Two ways to take advantage of the OTC desk
1. Access real-time liquidity through the Binance OTC desk
2. Trade directly with another Binance user.

Peer-to  Peer Trading

P2P trading happens when traders buy and sell cryptocurrencies directly to other traders, without using a third party or an intermediary. Binance P2P allows traders to sell their cryptocurrencies locally, with 0 trading fees. Traders are also allowed to create their trade advertisements to set their own prices.

Binance Visa Card

The Binance Visa Card allows traders to convert and spend their favorite cryptocurrencies at more than 60 million merchants around the world. All you need to do is transfer your cryptocurrency from your spot wallet to your card wallet and start spending.

Some more perks associated with the Binance Visa Card:

• Zero fees: the Binance Visa Card is free. There is no administrative charges associated with the card, although third-party fees may still be applicable.
• Hold cryptocurrencies: You can hold your cryptocurrency on your Binance card wallet and exchange when you need to.
• Up to 8% cashback on your purchases: only on all eligible purchases made with your Binance Visa Card.

Binance Chain Wallet

The Binance Chain Wallet is the official Binance cryptocurrency wallet for accessing the Binance Smart Chain, Binance Chain and Ethereum. The Binance chain wallet can be used to store crypto as well as connect to thousands of projects across different blockchains.

Traders can use their Gmail accounts to sign in to their wallets through tKey.

Wallet Direct

Allows traders to transfer coins between their Binance.com account and their Binance Chain Wallet.

Trust Wallet

With Trust Wallet you can store a variety of tokens on the market, with more projects and blockchains adopted all the time. Trust Wallet is a multi-coin wallet. This means that you have one backup for all your assets. The Trust Wallet works with decentralized exchange too.

External Wallet

Traders are able to deposit cryptocurrencies from external wallets or use a credit card, or deposit fiat currency. Binance supports the deposit of all of the major fiat currencies.

Business Accounts

Binance supports eligible business accounts for USD, EUR, GBP, NGN, AUD, and BRL deposits and withdrawals. Corporate account users can purchase cryptocurrencies with USD, EUR, GBP, NGN, AUD, and BRL on Binance.com.

Binance Launch Pad

Traders who are interested in crypto projects should definitely experiment with the Binance Launchpad, which basically functions as a token launch platform. The Binance launchpad facilitates early-stage crypto projects to raise funds using IEOs (Initial Exchange Offering). The Binance Launchpad is aimed at supporting blockchain startups.

Mobile App

Now you can download the Binance.com mobile app. It is available on IOS and Android.  On the Binance Mobile app, traders will be able to:

• Buy and sell cryptocurrency and fiat on the mobile app
• Keep track of all incoming and internal transactions.
• Binance Pay is available on the mobile app, which means that you can transfer and receive crypto payments via Pay in the App wherever you are.
• Keep Your Funds Safe with Whitelist Addresses
• Invite more traders to join Binance through the referral programme on the app.

Referral Program

Registered Binance traders are allowed to participate in the Binance referral program. The program allows  traders to share their unique referral link with their network. Traders can earn up to 50% commission on every qualified trade.

Traders can receive commissions on referrals made across Binance Spot, Futures, Margin trading, and even Binance Pool (including lifetime commissions on Spot & Margin trading plus Binance Pool).

Customer Support

There is a 24/hour customer service department available to traders. They can reach the customer service department via live chat or by logging a ticket.

CER Cyber Security Score (CSS)

9.54/10

CSS is an industry benchmark assessment of the cybersecurity characteristics of a given exchange. It consists of three weighted components: application-level security, SSL/TLS connection, and domain security. CSS uses over 18 indicators, based on the best practices of cybersecurity protection.

Cold Storage

Binance does support Cold Storage. Cold wallets have no connection to the Internet. Instead, they use a physical medium to store the keys offline.  As a way to protect the traders funds, Binance only holds a small percentage of its coins in hot wallets. The remainder is kept in cold storage.

Binance has a two-factor authorization process.  In order to make withdrawals from your Binance account, you are required to set up two-factor authentication. Each time you sign in you will be reminded to enable 2FA.

Multisig wallets just refer to a multi-signature wallet, where two or more traders have access to documents.

Is Binance Safe?

Does Binance Support Fiat Currencies?

Can you Short on Binance?

Is Binance.com Available to US Customers?