Binance Review – Is Binance Safe & Reliable Exchange?

Binance is a cryptocurrency exchange that has recently gained a lot of popularity. It offers an easy-to-use interface and boasts high security standards.


The most detailed and prestigious Binance exchange review 

Binance is one of the popular cryptocurrency exchanges designed for experienced crypto investors today. Not only does the exchange offer relatively low transaction fees, but it also has a large selection of cryptocurrencies to trade globally.

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1. Overview of Binance exchange  


Binance is a cryptocurrency exchange founded in 2017 in Hong Kong. It has rapidly grown to become the largest cryptocurrency exchange in the world by trading volume, with more than 40 fiat currencies and 600 cryptocurrencies traded on the platform worldwide. The initial growth and popularity of the company was so impressive that they had to suspend registration in January 2018. Binance stands firmly in the market today with no margin fees (extremely competitive transaction fees (up to 0.1%)).

Today, Binance is a feature-packed exchange perfect for experienced crypto investors and traders as it has a wide range of trading tools and options. For some beginners, it can be a bit overwhelming when they start using it. However, once you get to know the exchange well, you will understand why Binance is such a great platform.

2. Review of Binance exchange, 

The Binance exchange has many features that can make it one of the most popular cryptocurrency exchanges in the world. The following are Binance exchange reviews (pros and cons) that crypto investors and traders must know.

2.1. Pros – Review of Binance exchange,

- Is binance exchange reputable?

Binance is one of the largest reputable cryptocurrency exchanges in the world. The platform offers a wide range of trading features and options. Since there are so many options available to users, it can be difficult to choose one. 

2.1.1. Diversity with over 65 tradable cryptocurrencies available to customers

Binance exchange is one of the best exchanges available around the world. Currently, there are more than 600 cryptocurrencies available on the Binance exchange, and the provider also regularly adds new coins. In this platform you can find the coin you want to invest in. 

Another great new feature is that crypto investors and traders can even buy NFT now on Binance. It is the largest cryptocurrency exchange in the world based on trading volume, higher liquidity. So you can buy and sell more coins on their platform.

2.1.2. Extremely low fees

The Binance exchange platform offers extremely low fees. That means a lot more traders can save more of their investments and income. Binance exchange is able to offer low fees to users because they have a large customer base with huge trading volume. The base rate for selling or buying coins in the market is only ~0.1%, and even further discounts can be given to investors.

The easiest way to get the discount is very simple. You just need to pay your fees with Binance's own token (BNB). You will then automatically get a 25% fee reduction for using this token. This means that instead of paying 0.1% for a transaction, you just pay 0.075%. Also, if you own a certain amount of BNB and your 30-day trading volume is high, then you can get even more discounted trading fees.

2.1.3. Wide range of options and trading tools

There are quite a few options and trading tools available on the Binance exchange today. Includes Spot trading, NFTs market, staking, margin trading, P2P exchange and Futures. Experienced traders will also be more interested in the detailed charts available on the platform as well as the use of limit orders and stop limits.

  • NFTs: Binance has an increasingly popular new NFT marketplace. This is where users can mint, sell and buy NFTs.
  • P2P Exchange: In most countries, Binance Exchange offers a peer-to-peer (P2P) exchange. This allows users to trade cryptocurrencies directly with each other on their own terms.
  • Margin Trading: This trading is only available for selected trading pairs. Users can also avail up to 10x on some pairs. Cross margin trading is very risky because it risks your entire account. Whereas isolated margin trading is only risky for the trading pair you are looking at at that moment.
  • Futures and Derivatives Trading: This is a new feature of the Binance Exchange. Users can predict the price of Bitcoin and altcoins (Litecoin, Ethereum, Bitcoin Cash, Ripple, etc.). Here users are not actually selling or buying cryptocurrencies but just taking advantage of rising or falling prices to make money.

2.1.4. Mobile apps available for Android and iOS

Binance app is a great mobile app. When using the application, new users only need to click on the version of Binance Lite. For experienced investors, they will prefer to use the Binance Pro version because it has more advanced features and trading tools. According to the Google Play store, the Binance app now has more than 10 million downloads with a lot of high user ratings.

2.2. Cons – Binance Exchange Review

Besides some advantages, the Binance exchange also has some disadvantages that you can consider.

  • Not available in the United States. If US residents need to use Binance exchange, Binance.US is required. However, Binance.US. also only available in 44 states.
  • Lack of live chat support: It should be simple if you are an expert in the field of cryptocurrency trading. However, if you are new, encountering the problem can be frustrating and you may not be able to talk to anyone for assistance.
  • The platform can be quite complicated and confusing: While there are many interesting features and trading options on Binance, sometimes the complexity confuses even experienced traders. confusing to use. 
  • Binance does not have a built-in digital wallet.
  • There are some regulatory troubles in some countries.

3. Cryptocurrencies Available on Binance

Binance exchange has over 365 cryptocurrencies available for trading. However, it has just over 65 varieties available in the United States. For most international users, Binance Exchange also supports multiple fiat currencies, including EUR, AUD, HKD, GBP, INR, and USD. Depending on the user's location, Binance has a wide range of crypto pairs.

Some of the cryptocurrencies available on Binance USA are: VeChain (VET), Binance Coin (BNB), Harmony (ONE), VeThor Token (VTHO), Matic Network (MATIC) and Dogecoin (DOGE). Additionally, Binance Exchange also supports several popular cryptocurrencies, including:

4. Trading experience

Through the reviews Binance has done, the exchange offers a variety of trading tools. The platform includes real-time charting tools with moving averages and exponential moving averages. Multiple users can make trades through the Binance app/website or the desktop app.

Some traders may use the Binance platform to access their portfolio and trading history. They can also view order books and price charts. In addition, the Binance exchange offers a variety of order types (stop order, stop limit order, limit order, trailing stop order and market stop order).

Traders can also choose from their various trading perspectives, from classical to margin and OTC. However, many of these features are not available in the US, including margin trading and some order types.

5. Binance Fees – Binance Exchange Review

Binance exchange has extremely low fees, with some options that can be reduced even further.

5.1. Binance Deposit Fee

  • You will not be charged for depositing cryptocurrencies to the Binance exchange.
  • Fees will vary depending on the deposit method/currency if you deposit fiat currency into Binance. For example, it is free if you deposit AUD (Australian Dollars) using OSKO/PayID. The fee will be 3.50% if you deposit Hong Kong Dollars (HKD) with a bank card.

5.2. Binance Withdrawal Fee

To withdraw crypto from your Binance account, you are subject to a flat fee to pay the transaction fee when transferring crypto to your wallet. This fee varies by coin.

For fiat withdrawals, fees will vary depending on the currency and method of withdrawal. For example, withdrawing AUD (Australian Dollar) by bank transfer is free. Withdrawal of GBP (British Pound) by Bank card incurs a 1% fee.

5.3. Binance Transaction Fees

Binance trading fees for spot trading (buy/sell crypto) start as low as 0.1%. Traders can enjoy a 25% discount if paying fees in Binance's own currency (BNB). This means they pay only 0.075% per transaction!

6. Compare and evaluate Binance exchange with Coinbase Pro

Coinbase Pro and Binance are the two largest exchanges in the world. They also offer active traders flexibility in trading options and assets.

  Binance  Coinbase Pro
Electronic money Binance International supports more cryptocurrencies than Coinbase Pro. Binance US Supports Fewer Cryptocurrencies Than Coinbase Pro
Spot transaction fee Lower Higher
Reward Program To keep BUSD on its platform To put digital assets on its platform
Access rights Binance users don't have access to native digital wallet Coinbase Pro users can access native digital wallet


In short, Binance is a big name in the crypto world today. This is a platform built to suit both beginner investors and experienced traders.

Oct 07, 2022

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