Exchange Review

Binance Review

If you were to indicate one of the most legitimate and trustworthy cryptocurrency exchanges, then it would surely be Binance. It is by far the most recognizable option available out there with millions of users that actively trade with the use of a number of different cryptocurrencies.

Interestingly, it is also a great option for all the people who wish to try out many different earning options. It is all due to the introduction of a wide range of options that enable trading as well as investing in the case of both long-term and short-term strategies. 

Nonetheless, Binance is only one of many different options that people throughout the world can choose. Nonetheless, the fact that Binance supports more than 140 countries is enough to successfully expand our funds by trying out one of the manners available at the page.

Obviously, to make sure you select the most appropriate option, we prepared an in-depth review of Binance and all the services it has got to offer. Most of you surely understand how services such as foreign exchange or any other brokerage of this sort work. Nonetheless, there are quite a lot of different people and their expectations or requirements are also quite diverse. This results in different preferences. To make sure you choose the best trading platform out there, we decided to look at all the additions and accessories that Binance can give. However, let’s start with the basics. 

What is Binance?

Binance is a cryptocurrency exchange that can boast as the largest exchange in the world. It includes the daily volume of traded cryptocurrencies as well as the amounts of users it has got to offer. It was founded by Changpeng Zhao. He is a developer, who, prior to founding the exchange, worked on a high frequency trading software. 

It is a relatively new trading platform, because compared to its main rivals, Binance is only 5 years old, because it was founded in 2017. For example, Coinbase was founded in 2012 (10 years already), whereas Kraken appeared in 2012 (11 years). In spite of that, huge credibility as well as attractive features that we are about to review made Binance by far the largest crypto out there.

What services does Binance offer?

As of now, Binance can give you the possibility to invest your money in a number of different trading and investing methods. It means that we do not necessarily have to know a lot about crypto trading and the way the market behaves. We can enjoy Staking features, Saving options, and even take part in Binance Future as well as many other investing programs. However, let’s discuss each and every feature to fully understand what this has got to offer.

  • Binance Earn 

It is a feature that works based on an auto-subscription. Basically, you select one of the assets you are interested in and after purchasing, you just wait for the subscription period to be over. Next, the reward is transfered into your account. After that time, the subscription will automatically extend. However, there is a possibility to increase the earnings. You see, there is a possibility to earn by auto-subscription by selecting a flexible or fixed savings. Flexible ones mean that you can withdraw the investment sum anytime you want. However, it means that all the potential profit will be lost if you do that instantly or, you will receive a smaller amount if you do it at the next 24-hour yield period. 

Obviously, Binance Earn is much more than just flexible or fixed savings. There is also a possibility to take part in staking. It is quite a similar earning method as Binance Saving. Nonetheless, it can provide us with significantly higher rewards. It is said that you are capable of getting the estimated APR as high as 80%. Obviously, such a huge annual percentage rate is available only for the ones who are willing to take part in a strategy prepared by users who may not have credentials ensuring their previous successful trades.

Nonetheless, you have to remember that there are some significant drawbacks to that method. First of all, it is not as secure and as steady as savings. You see, the approximate APR for locked staking is available only for a predetermined period of time. And, usually, it is between 2 and 4 months. It means that after that period, you have to “subscribe” the asset one more time. Moreover, there is a limited number of slots available, so you always need to look for the best offers and take into account the volatility of the assets. 

Two other features of Binance Earn worth mentioning are Farming and Dual Investment. These are also quite interesting options, specifically if you are interested in receiving high yields or, perhaps, you wish to enjoy quick trades, simplicity, or even no fees for your investments. It is obvious to say that the higher the risk we are willing to take, the higher potential rewards are waiting. 

  • Binance Finance

Binance finance is simply a service that revolves around withdrawals, deposits, and even loans for your future investments. Binance Finance even offers you a Binance card, which is an equivalent of a credit card. It allows you to convert and pay with the use of crypto worldwide. Crypto Loans, the second branch of Binance Finance, is an advanced and complex feature that serves as a place to get a loan. Interestingly, these loans are instant and they are secured with the use of crypto assets.

Binance Pay, the third option of these services, allows you to make online transactions with crypto without worrying about fees. There is also the Binance Gift Card feature, which is exactly what the name suggests. You can customize a gift card there and prepare it for your loved ones. Obviously, for most of these features your Binance account has to have some crypto already purchased. That is why visiting a “Buy Crypto” sub page, where you can get some crypto with the FIAT currency is of utmost importance. 

  • Alternative trade features

Besides the more complex investment methods mentioned above, we should also remember about a number of different things that Binance offer as far as typical trading is concerned. This trading platform provides us with spot trades, which enables advanced tools thanks to which you can enhance your trading abilities. Moreover, remember about Binance Convert, which simply lets you get any cryptocurrency available on the Binance market without paying any fees. The trading also provides you with a guaranteed price, which is surely an important element for more volatile markets. 

One of the easiest ways of increasing your profits (while at the same time increasing the risk) is trading with margin. And this is what Binance Margin is all about. There are many different possibilities for you and it all depends on the risk to reward ratio you are willing to take. Trading on Binance Margin is simply the possibility to trade with the use of assets that you borowed. As a result, greater sums result in a greater rewards. It provides you with the possibility to realize greater profits – provided you can perform successful trades.

For people who seek for better connection with others, there is a P2P option available just as well. It is a place where you can trade a number of different crypto pairs with other users. Bear in mind that the pricing is set by the users. Therefore, you may not be fond of the odds. 

There is also something known as Strategy Trading, which simply means that you join the strategy from the available strategy pool. There, you can select the largest ROI (Return On Investment) and trust the strategies that other people created. The more people copied the given strategy, the higher the chance it may appear successful. Nonetheless, usually strategies with the largest ROI are the ones that require higher investments and, at the same time, are a bit riskier. Still, they offer quite substantial rewards. 

Bear in mind that not all Binance has got to offer. For example, we have to remember the fan token sub page as well as the Binane OTC. 

  • Binance Futures

Futures is yet another important part of this trading platform’s wide range of tools. These are derivatives contracts thanks to which it is possible to bet on a cryptocurency’s future price. Thanks to these contracts, it is possible for investors to bet on the price trajectory rather than purchasing the asset itself and, then, hoping for it to go up. In this way, you can minimize the risk as long as you know what you are doing. They are quite similar to future contracts of such classic assets as commodities or stocks.

Interestingly, Binance is doing quite a good job with their Binance Futures services. You see, there is a vast selection of trading pairs. What is more, we can also see enormous trading volumes and, also, there is the highest bid/offer spread thanks to which the unnecessary risk is minimized.

Obviously, there is a whole sub page for Binance Futures, known as Binance Derivatives. There, you can find an overview with all the crypt-derivative instruments, guides and tutorials that help you become a responsible trader by using Binance Futures, and also a number of different functions like, for example, USD- M Futures, COIN-M Futures and Leveraged tokens. 

Interestingly, there is also a Battle feature as well as Derivatives Portal. The first one is, as you can guess, the battle to win, where players fight in Short and Long teams. The latter one is a VIP exclusive place for the most advanced traders that seek the highest quality tools and services.

  • NFT

The so-called Non-Fungible Token is a unique, digital unit of data based on the Blockchain structure. The users of the protocol can use it in order to trade among themselves. They are represented by a wide range of material and non-material items. Though it is a cryptographic token located on the blockchain ecosystem, it cannot be divided or changed. There are no the same NFT tokens that represent the same data. Though at the beginning NFT tokens were not popular, at this moment they are enjoying their 15 minutes of fame. 

Binance NFT appeared not that long ago, so it is safe to say that on the market of NFT services, Binance is a relatively new force. The same thing can be said about the trading platform itself, but it doesn’t mean that they are not good. As far as their NFT sub-service is concerned, there are quite a lot of things to see and to try out. 

The users who decide to enter the Binance NFT world can move on with their investment funds to a marketplace with a gigantic number of NFT tokens available at their disposal or, if they want, choose other options. There are two quite interesting ones, namely Gaming/IGO and Mystery Boxes. However, let’s focus on the marketplace itself.

First of all, it allows you to choose whether you wish to pick a premier or standard collection. Furthermore, we can look for pieces from particular collections. There is also the option to search for items that will be soon on sale. Obviously, the possibility to participate in an auction and get a better price for a token also may be of a high significance. Besides that, we can choose what currencies we are interested in and what file types we wish to receive.

Game offering is a bit more interesting for the people who love gaming. You see, there is a total volume of more than $1,000,000,000 that is located in 20 IGO projects. This, combined with more than $60,000,000 stacked by 300,000 participants, gives us a gigantic number and a possibility to earn quite a lot – if we ever decide on such an option. 

IGO is the abbreviation of Initial Game Offering and it is just that – the offer of investment for people who wish to participate in the development of video games that use the cryptocurrency world and blockchain ecosystems. In this feature, we can search for projects that we feel are most promising and attractive to us and, then, invest our funds in it. Interestingly, Binance NFT IGO provides us with exclusive projects that, later on, will be available for others. What is more, the initial pricing is attractive and, as a result, the probable ROI can be even larger if the project gains popularity. 

Mystery boxes, on the other hand, are much simpler. You see, these are special “loot boxes” that contain items. Interestingly, we do not know what the given box may have. As a result, purchasing such a box may seem like a gamble, since we will never know whether it offers us great things or not. However, at the Binance market for loot boxes, we can see the volume, sales, items, as well as floor price. There is also the chance to look for top themes that may offer a bit more valuable items. We can also look at gainers, namely the boxes that gain on popularity.

Is Binance Safe and Reliable?

Most often people tend to pick Binance because of its reliability and functionality. There have been many different digital asset exchanges available out there. However, if anything, the highest level of security is most often offered by the ones that we know the most. And binance is no exception. Obviously, that was not always the case. 

Earlier on, before Binance became known for their safety measures to protect the users and the assets they keep on the exchange, there have been several problems. The biggest one that made quite a lot of chaos in the crypto world was the security breach from May 2019. Then, the hackers were able to steal 7,000 Bitcoin. As you can guess, that’s quite a sizable amount. To breach through Binance’s protection systems, the hackers had to use a wide range of different techniques. It included phishing, the use of viruses, as well as many other bigger or smaller methods in order to not only claim the numbers, but also make a successful transaction without anyone noticing.

However, they learned from the mistakes and made sure that such a thing will never happen again. The result of that is the introduction of even stricter safety precautions and some additional layers of defense.

First of all, there is a two-factor authentication available. It allows you to pick one of many different methods like, for example, SMS, email, app-based, or even hardware based authentication. Let’s also remember that this strict sign-in protocol is additionally secured thanks to the use of opt-in security features like, for example, IP and wallet address whitelisting and API access control. Besides that, they also use SAFU, which is known as a secure asset fund for users. 

What can you trade on Binance?

It goes without saying that thanks to this trading platform you have access to a number of different pairs out there. Yes, you may not be able to trade the newest ones and the options that feel like they will grant you a huge profit. Nevertheless, in order for an altcoin to be admitted for Binance, it has to fulfill a lot of requirements. As a result, Binance keeps the users safe from the potential threats that lurk on them in the crypto world.

Still, this is surely a great altcoin exchange. It has a massive number of alt-coins that exceed 600 in their original, official website. What do we mean by the original, official website? Well, there is a special Binance version created for the US market. There are 80 altcoins available on this American-oriented crypto trading platform. 

Interestingly, Binance draws a lot of attention to all the altcoins that appear on the market. If there is a crash or a downfall of the entire ecosystem, then the service makes sure that future investors are informed about such an event to make sure that they do not invest in projects that may lead to crash and the loss of all assets. 

Another thing to mention is that most of new altcoins that do not have a proven history go to a high-risk category of innovations. There, investing is much less advisable by the Binance staff itself mainly due to a higher than usual volatility of the market. It is a great way to show the customers that there are tokens that should not be considered as trustworthy. At least for the moment. 

Binance Key Features

There are quite a lot of reasons why people keep naming Binance as the best trading platform out there. One of the biggest reasons is a very low fee, which is known as 0.10% for spot-trading. Besides that, there is only 1.8% of debit card purchases fee, which may feel like a lot. Nonetheless, it is one of the lowest numbers on the market out there. Another thing thanks to which Binance stands out when compared to its competitors is a comprehensive charting options as well as hundreds of cryptocurrencies. 

Let’s also not forget about the fact that Binance offers special investment methods that are available at Binance Earn, an additional sub-page you can enter through a Binance official page after you log in. There, you can look for a number of different options that are not necessarily related to trading itself.


  • Low trading fees;
  • Relatively low debit card purchases fees;
  • Huge number of digital currencies available to trade.

However, there are some drawbacks

Needless to say, there are some downsides of Binance. Most of them have already been presented. Still, it is important to remember that it is not a perfect page. First of all, there entirety of Binance appeared not that long ago. Even if we take into account the relatively short time of cryptocurrency presence on the market, Binance is a very young trading platform. 

Besides that, we have to remember about previous security troubles. The founders have already stated that such situations will never occur. However, if it is the biggest and the most popular cryptocurrency exchange, it goes without saying that sooner or later there might be another successful attempt of hacking. 


  • Relatively young;
  • Susceptible to attacks due to its popularity. 

Binance for Advanced Trading

As in the case of many other digital currency trading platforms, Binance also offers a lot of features that are prepared mainly for the advanced users. A good example is the possibility to customize the trading view to such an extent, it will be perfectly adjusted for our demands. Let’s also not forget about the fact that Binance Advanced Trading provides us with different interesting features.

One of the best things is that it is possible to create spot trades in advance. Besides that, we get to use plenty of different tools that are mainly tailored for users that are more experienced in crypto trading.  Needless to say most of the features that were listed up above can also be considered as features for advanced users. Not a single beginner should ever think about Binance Futures, NFT world, or margin trading. 

To make sure that people don’t lose their money so easily, Binance provides everyone with a gigantic number of guides, warnings, and even tests to help people realize how difficult investing with the use of some of the methods really is. Obviously, it is possible to skip all of that and go straight to the business. 

Interestingly, some people, even the ones that know a thing or two about trading, claim that Binance can be overwhelming. It is mainly due to the number of different tools and options to pick from. That is why quite often it is said that other crypto exchanges are more suitable for the beginners, since even the interface is more friendly towards newcomers.

Binance Deposit and Withdrawals Methods

It is possible to transfer fiat currencies as well as other crypto transfers. Users are eligible to deposit from external wallets and bank accounts as well. Needless to say, there are some additional deposit methods that people may find interesting. One of the examples is Paypal. In total, Binance accepts more than 60 payment methods as far as peer to peer trading (P2P trading) is concerned.

After clicking the “Buy Crypto” button, we can see a lot of different options to choose from and, this is surely a huge easement for people that do not use credit or debit cards, or perhaps they have other preferable deposit methods. Interestingly, to make things even easier, Binance supports approximately 60 different FIAT currencies, so if you do not operate in USD, GBP, or EURO, you still have a number of different options to choose from.

Binance Review – Conclusion

If people look for numerous options to invest their money and they are interested in the alternatives, then Binance is surely a good way to start. They offer us NFTs, Future trading, margin trading, spot trading, Binance saving, Binance Staking, farming, P2P trading, and many other options thanks to which every single user in the entire world will find something suitable for them. 

It is definitely certain that Binance deserves its recognition. The most popular trading platform in the world is quite easy to navigate through, allows a lot of different trading pairs, including alt coins that you are not going to find in many other crypto exchanges, and at the same time keeps us safe thanks to a two-factor authentication method as well as SAFU feature.

Obviously, there are some drawbacks that we have to take into account. For example, the interface of the platform may be overwhelming the first time you see it. And it concerns even people who know a thing or two about cryptocurrency and the world of digital exchanges. Besides that, there have been some problems with safety in the past. Moreover, some people may suggest that the sudden growth of the platform and its relative youth make it unstable.

Nonetheless, it gathers the largest number of users and handles the largest volume of cryptographic assets. Therefore, it is safe to assume that your funds will be perfectly fine there. As long as you know how to invest and you get to know all the guides and instructions, as well as warnings that Binance shows.