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binance review

Binance has an attractive referral and feedback program for customers who refer others to the platform. Each user gets a unique referral link and can decide what percentage of fee kickback they want to share with others that they refer. During the verification process, Binance asks you to provide your personal information as it appears on your national identity document. You can submit either a Driver’s License, a national ID card, or an International Passport. is available to users in over 180 countries, including the UK and most EU jurisdictions.

binance review

Does not make any sense to me, and none of the reps could explain that. I wanted to make sure that I process things to conform with whatever procedures Binance.US has in place. But they can’t even articulate what they need from me to avoid any ongoing disruptions. This Binance Review 2022 has talked extensively about the sheer number of tools and features offered by the platform. In particular, this is going to be attractive for those of you that have lots of experience trading cryptocurrencies online. This is because it’s a simple 3-step process of registering an account, uploading a copy of your passport/driver’s license, and then entering your card details. For example, the Binance app offers each and every cryptocurrency pair that you will find on the main website.

🟠 The Ultimate Binance Review 2023

In another incident, some Binance users had the information they’d submitted to verify their accounts leaked. The source of this leak appears to have been a third-party vendor that was used for a few months between 2017 and 2018, according to Binance. However, Binance did suffer a significant security compromise in May 2019. In this breach, hackers were able to withdraw 7000 Bitcoin – which, at the time, was valued at about $41 million. The loan-to-value ratio depends on what cryptocurrency you’re using as collateral. Head over here to find the current LTV rates for different assets.

  • Verified Plus StatusOnce you’ve gained verified status, you can choose to apply for Verified Plus status.
  • In classic view, your open orders can only be seen by going to a separate page.
  • Staking cryptocurrencies helps to support the normal operations of blockchains that are using Proof of Stake to establish consensus.
  • There is no charge for this and transactions typically take minutes to show up in your Binance account.

The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by ourpartners. For instance, critics note that Binance’s liabilities are not transparent. Without a clear accounting of the firm’s liabilities, it’s impossible to come to an informed decision about a company’s financial health. This relates to a long-running case on Binance’s compliance with anti-money laundering laws. The investigation was launched in 2018, and is public knowledge. The growing concerns reflect diminishing trust in centralised exchanges following a series of industry scandals throughout 2022.

Binance Overview

I provided that and any time I asked for a status update they said “we will get back to you soon.” After a few weeks, they simply quit responding altogether. To date, they are still sitting on thousands of my dollars with no response and not unlocking my account, despite my doing everything they asked. Do not invest with this scammers once you do you wont be able to withdraw, all forms to reach them becomes unavailable. I was a victim until i came across with CHAINVAULT .Tech, they help me get all my funds back from this scammers.

binance review

You can either keep it in your Binance account or withdraw it to an external wallet. However, on the deposit page, you will need to scroll through the long list of supported cryptocurrencies and click on the one you want to deposit in Binance. In order to secure your account, Binance will ask you to set up two-factor authentication . This means that you will need to install an app like Google Authenticator on your phone. binance review Thereafter, each time you want to log in or perform key account actions such as a withdrawal request, you will need to enter a unique code that can only be found on your phone. In its most basic form, Binance allows you to buy, sell and trade digital currencies like Bitcoin and Ethereum. In order to give you an overview of how the platform works, we’ve listed the main steps that you will need to follow to get started.

Summary: Best Cryptocurrency Exchange?

This means that you can trade with more money than you have in account – so you are effectively borrowing the surplus funds from Binance. We should note that the Binance app comes with all of the security controls that we discussed previously. This includes 2FA, wallet management, and authorized device confirmation. All you need to do is enter your card details and the transaction will be completed in seconds. You will, however, need to have verified your identity first. In terms of feedback from current and past users, the Binance app is highly rated.

How do I withdraw money from Binance?

At a Glance: To withdraw from Binance, a user must login and click “Withdraw.” Under the “Crypto” tab, they can then choose the network and desired currency then click “”Receive.”” After a 2FA code is entered, the transaction will be complete.

We also research the exchange in depth online to find customer reviews and test the support feature. The website is incredibly simplistic, allowing for easy access between the exchange and the wallet, which is the case for the mobile platform as well.

Binance peer-to-peer allows users to buy and sell crypto with zero fees. P2P gives traders the freedom to define how they want to be paid. They place orders in local currency and Binance will hold the asset until payment is received and both the buyer and seller finalises the deal. There are more than 150 payment methods, including bank transfer, cash, and PayPal. Customers buy, sell and manage crypto assets for investment on the Binance exchange. The secure online platform offers multiple crypto trading products while holding licenses with several regulatory agencies. The firm has an average daily trading volume of over $2 billion and its owner – Changpeng Zhao, has a personal net worth of more than $2 billion.

  • Binance subsequently refunded users via its Secure Asset Fund for Users .
  • My makers feature on the platform has been disabled for 3 months cause i tried manipulating the usdt market with my 18 different trades of 1 usdt each.
  • The Binance Coin is a digital cryptocurrency that was created by Binance — one of the largest players and innovators in the world of cryptocurrency.
  • The company was hacked in 2019 and its services have recently been under investigation as part of a money-laundering scandal.
  • How long you need to wait will depend on how busy the Binance support team.
  • Binance certainly offers a wider range of assets for trading, though Coinbase may be the more established exchange.


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