![]() Click the confirmation link within the email and you will need to sign in once more.Īt this stage, you have a Level 1 user account and can deposit and trade funds. You will need to complete a verification pop-up, confirming you’re not a robot, then you will receive a sign-up email in your inbox. Simply click ‘Register’ at the top of the page and fill in your email address and create a password. Registering with Binance is a relatively straight-forward process. BNB holders are eligible for up to 50% off fees, reducing this to just 0.075%. Fees:īinance boasts competitive trading fees at 0.1% per transaction. Users must have completed KYC Level 2 (confirming your photo ID) to be able to register for the new Binance card and withdraw funds. However, there are limited options compared to registered accounts. ![]() If you want to trade cryptocurrency with Binance without sharing your personal details, you can. KYC/AML:īinance has implemented AML (Anti-Money Laundering) policies and procedures, giving it a 10/10 green trust score on the CoinGecko website.īinance does not always require KYC (Know Your Customer) practices. ![]() They also have a Facebook page with around 150,000 active likes and followers. The team actively engages with users across all their accounts, including with their main profile reaching 1.2 million followers. ![]() Social Media:īinance has a strong presence on Twitter, with several accounts for the different Binance tools and services. In April of this year, Binance’s CEO Changpeng Zhao, or CZ, announced that the exchange had reached $11 billion in 24-hour trading volume, which has since reached $11.8 billion.ĭespite being the world’s largest crypto exchange by market cap, Binance has approximately half the amount of users compared to its rival, with 15 million accounts registered. History:įounded in 2017, the crypto exchange has become arguably the fastest profitable unicorn startup, achieving a valuation of nearly $2 billion in just 6 months. Location:īinance is currently based on the Mediterranean island of Malta. You simply download the Binance Card App and load your account with either Binance Coin (BNB), Binance USD (BUSD), Swipe (SXP), or Bitcoin (BTC), then choose your preference in which order the crypto is to be spent. Recently, Binance announced plans to release Binance Card, which will work much like a normal debit card, while drawing on funds from your Binance account. Holding BNB tokens gives users a 50% discount on trading fees. Users can also receive rewards for staking coins on the platform.īinance has its own exchange token, Binance Coin (BNB) which is currently sitting in the top 12 cryptocurrencies by market cap. There are several different trading options and wallets available on Binance. You can also view options for order books and trading pairs. The interface displays red and green candlestick graphs showing the price movements of coins over different time periods, from months and weeks down to the minute. Overview: Binance currently offers 205 different coins to exchange and trade with, and is the largest crypto exchange in the world (in terms of market cap and trading volume). It also means that you are responsible for your own private keys and security, you are in charge of keeping your digital assets safe. However, this does mean that there is no point-of-contact or customer service line if anything should go wrong. Crucially, if you are using a DEX, this means you actually own your cryptocurrency.ĭEXs are powered by a global computer network as opposed to a central entity. This goes against the ethos of decentralized currencies, so there are now decentralized exchanges or DEXs, that are decentralized applications on the blockchain offering exchanges of coins or tokens, as well as other financial tools such as borrowing and lending. This offers a seamless user experience, however, this also means that users technically do not own the coins, the exchanges do. It’s an important thing to note that both Binance and Coinbase are centralized exchanges, meaning they are run by a central organization.īoth exchanges offer a custodial service, whereby they keep hold of your private keys and funds for you in secure cold storage. In this article, we show you a complete review of both, to help you decide which one will be the best for you when you’re first purchasing Bitcoin or other cryptocurrencies. Both offer an easy user experience, different displays, features, and offers. Those looking to buy Bitcoin for the first time often look to compare Coinbase vs Binance before making their purchase. They are the two largest exchanges on the market right now, and primarily cater to people who are new to crypto. Coinbase and Binance are both titans in the cryptocurrency exchange business.
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