a full review about cryptocurrency exchange binance.
The world’s largest cryptocurrency exchange with net profit exceeding 100 billion dollar!
Features of BINANCE
POINT 1
Almost all major virtual currencies are covered! You can trade any favorite coin in the form of a board.It is an exchange that covers most major virtual currencies all over the world, and also handles many minor altcoins. The user’s voice is also important, as coins newly handled are decided by user voting.
POINT 2
Cheap transaction fee of 0.1%! If you set BNB, an exchange token of Binance, to pay a transaction fee, you can trade with an even lower transaction fee of 0.05%!
POINT 3
The world’s top virtual currency transaction volume An exchange that has attracted attention from all over the world. The management side is actively receiving user support and putting emphasis on security. However, even though it is an overseas exchange, it has been evaluated by various media as being safe and secure.
Basic information of BINANCE
Almost all major virtual currencies are covered!
Transaction fee is uniformly 0.1%
Exchange-limited coins (BNB) are in season!
| Exchange / sales office | Exchange or sales office |
|---|---|
| Number of trading virtual currencies | 153 types |
| Multi Language support | End of January 2018 |
| Smartphone compatible | ○ |
| Maximum leverage | No FX trading |
| Transaction system | FX / Futures trading / Credit trading / Spot trading |
| Security | Login puzzle authentication / 2-step authentication |
| support | English support available |
| Corporate account | ○ |
Features of BINANCE
BINANCE is an exchange established in July 2017 in Hong Kong. In just half a year, it became the number one exchange in terms of currency trading volume, and registered users exceeded 8 million. It has a unique mechanism for deciding the currency to be listed by user vote.
There are many overseas exchanges, but if you do not know which exchange is the easiest to use, you will often register BINANCE , which has the world’s top virtual currency trading volume .
” Binance Launchpad ” is a system that performs ICO (listing of virtual currency) using the BINANCE platform. Not only is it actually issued virtual currency, but also supports the subsequent development and popularization, so the listed virtual currency attracts attention.
And this time, it was MATIC (Matic Network) that was chosen as the fourth. MATIC is an Ethereum token of type ERC20.
Binance chain
On March 14, BINANCE announced on its official page that it would develop its own public blockchain ” BINANCE chain “.
The development of the BINANCE chain is officially started to establish a decentralized exchange. BINANCE chain is superior in performance, ease of use, and liquidity, and is a technology that focuses on “ transfer and trading of blockchain assets ” compared to other blockchain technologies . In the future, BINANCE chain technology will be used for BINANCE coins (BNB).
BINANCE has officially announced the development for the establishment of a decentralized exchange, so expectations for BINANCE have increased. BINANCE Coin (BNB) was originally a popular currency, but the price has soared since the announcement of this news.
Nem (NEM / XEM) is listed
On March 20, Nem was listed on BINANCE.
Nem is a very popular currency with 13th in currency trading volume, but it was not listed on BINANCE. In November, BINANCE CEO Jao announced the comment that “ NEM will be listed in the future , ” which originally raised expectations for listing.
Coincheck’s NEM spill was listed in the middle of no resolution, but it should be attracting more attention as it was listed on BINANCE.
Has experience of hacking damage
Hackers illegally obtained account information by directing BINANCE users to a site very similar to BINANCE.com.
Hackers used the acquired account information to place a large number of buy orders in the VIA / BTC market, raising the price of VIA coins. The hacker tried to withdraw Bitcoin, but the risk management system was activated and the withdrawal was automatically stopped.
BINANCE has stopped withdrawals from all currencies as soon as problems were discovered. BINANCE’s security measures were proved to be strong, and BINANCE’s evaluation increased.
Bankruptcy / closure
There was a time when BINANCE bankruptcy and closure turmoil was struck, partly due to the rumors of content that received a warning from the Financial Services Agency and the suspension of new registrations for a period of time.
However, the bankruptcy and closure turmoil seems to have converged as a result of efforts to respond appropriately, such as a direct explanation of the CEO’s circumstances and relocation to the headquarters in Malta.
Advance into Uganda
In 2018 BINANCE made a foray into Uganda. For Uganda citizens, where 70% of the population does not have bank accounts, the cryptocurrency exchange was a long-awaited one. The expectation is high because more than 40,000 people opened accounts in just one week.
BINANCE positions Uganda as a base for expanding into Africa, and in the future, it is expected that the expansion into countries and regions where virtual currency exchanges have not existed will accelerate.
Collaboration with the Bermuda government
Some countries with smaller economies are trying to stimulate the economy by incorporating virtual currency and blockchain. One example is Malta, where BINANCE is based.
And in April 2018, BINANCE announced a partnership with the Bermuda government. BINANCE has set up a Global Compliance Center in Bermuda to create jobs and to invest $ 10 million.
We are also investing $ 5 million in a blockchain-related company based in Bermuda.
BINANCE reviews
BINANCE is one of the world’s largest exchanges, and it can be said to be a popular exchange because of its abundant currency and security. Although the english language support is not perfect, it is also gaining popularity due to the simplicity of the user interface.
BINANCE campaign (Past)
BINANCE DEX
BINANCE has released ” BINANCE DEX “, a decentralized exchange, but there was a campaign to raise its recognition.
The campaign period is from March 7th, 2018 from 8am (GMT time 17:00) to 21st 8pm (GMT time 17:00) and must have at least 1BNB.
Participants were given a virtual 200BNB as funds, competing for how much they could increase during the period and how much their own tokens would fluctuate.
It seems that a maximum of 3,000 BNB and a total of 10,000 BNB were awarded as prize money.
CELR token
Celer Network (CELR) ” is scheduled as the third token sale of “ BINANCE Launchpad ” scheduled for March 19, but a campaign that gives CELR worth $ 30,000 in total is March 16 It was held until 8:00 .
After playing Gomoku 10 times with the app designated for the scaling test, 1,500 randomly chosen users were each awarded $ 20 CELR.
Wish2BINANCE
This campaign was held from December 23, 2018 to January 7, 2019. In collaboration with Twitter, if you got $ 10,000, you could tweet what you wanted to do, and a lottery gave you $ 10,000.
5 benefits of BINANCE
- Very large number of virtual currencies
- Information is relatively easy to enter at overseas exchanges
- Unique efforts to be listed on BINANCE by popularity vote
- The fee is cheap
- Give me a bitcoin fork coin
Very large number of virtual currencies
BINANCE currently handles 928 virtual currencies. We will continue to increase BINANCE.
There are a lot of coins less than one yen, so the coins that will turn into the future should be asleep. Even those who are dissatisfied with the number of currencies handled by domestic exchanges may be satisfied.
Information is relatively easy to enter at overseas exchanges
BINANCE does not support All countries on overseas sites, but since it is the largest of the overseas exchanges, searching for domestic blogs, etc., you can get the minimum information. If you want more in-depth information, do you read English? Rely on Google translation.
Unique initiative to be listed on BINANCE by popularity vote
At BINANCE, an event called “ Community Coin of the Month ” is held once a month.
Listing cryptocurrency means enabling currency trading on an exchange. Since listing of BINANCE is expected to increase the volume and price, many virtual currencies are targeted for listing on BINANCE.
This is not only the convenience of the BINANCE side, but also the event “ Community Coin of the Month ” that allows users to list popular cryptocurrencies, leading to an increase in the number of users, and active buying and selling of cryptocurrencies. Become.
The characteristics of the popularity voting (Community Coin of the Month) are as follows.
- Held once a month (monthly voting period is set)
- Voting must be a BINANCE user and must have BNB coins
- You can vote for multiple virtual currencies, but 0.1BNB is required for each vote
- Volume and price are likely to rise when trading after listing
Low commission
The BINANCE transaction fee is 0.1% . While other overseas exchanges are around 0.2% (Bittrex is 0.25%, Poloniex is 0.15% to 0.25%), it is very cheap.
By paying the fee with BINANCE Coin (BNB), a unique token of BINANCE, the fee will be further reduced to 0.05%. It seems that this super-discount fee has a major impact on becoming the world’s largest exchange in six months.
Gives fork coins of bitcoin
Fork coin is a new currency that is born by the division of virtual currency. Bitcoin holders can receive as many new coins as fork coins. However, whether or not you can actually receive new coins depends on the policy of the exchange where you deposit your bit coins.
It can be said that it is more advantageous than other exchanges because you can receive new coins simply by depositing bit coins with BINANCE.
BINANCE virtual currency handling
Here are the currencies handled as of February 20, 2019.
| Handling virtual currency | 153 types |
|---|---|
| Number of virtual currency pairs handled | 443 types |
There are four settlement currencies: BTC (Bitcoin), BNB (Binance Coin), ETH (Etherium), and USDT (Tether).
BINANCE fee
Account / Account opening fee
| Open account / account | free |
|---|---|
| Account maintenance fee | free |
Deposit / withdrawal fee
| Virtual currency | Withdrawal fee | Deposit fee |
|---|---|---|
| BTC (Bitcoin) | 0.0005BTC | free |
| ETH | 0.01ETH | free |
| XRP (ripple) | 0.25XRP | free |
| BCH (Bitcoin Cash) | 0.001BCH | free |
As you can see, the payment will be in virtual currency, so the fee will change according to the rate at the time of deposit and withdrawal, so be careful.
Transaction fee
The transaction fee is usually ” 0.1% “, but as mentioned above, BINANCE can reduce the transaction fee by a unique mechanism called Binance Coin (BNB).
Binance Coin (BNB) Discount
| Year of use | Commission discount rate |
|---|---|
| 1st year | 50% |
| 2nd year | twenty five% |
| Third year | 12.5% |
| 4th year | 6.75% |
| 5th year | 0% |
BINANCE chart features
BINANCE has many types of virtual currencies, and you can see the charts of those virtual currencies at a glance. In addition, it is a feature that you can see the charts in various combinations of passages.
How to use BINANCE
In “ HOME ”, you can see the ranking of the transaction volume and the rate of decline in the latest 24 hours of virtual currency handled by BINANCE, and notices.
Favorites, BNB market, BTC market, ETH market, USTD market in the last 24 hours You can see the trading volume ranking of the virtual currency in BNB, BTC, ETH, USTD and ranking of the rate of decline .
How to deposit and withdraw BINANCE
BINANCE is an overseas (China) exchange that can trade in BTC (bitcoin) instead of yen. In other words, since it is not supported in American usd, remittance in BTC (Bitcoin) or ETH (Ethereum) at domestic exchanges.
So, first buy virtual currency at the domestic exchange. Send the virtual currency to BINANCE. To do so, you first need to know the BINANCE deposit address (remittance address).
Let’s take a look at it.
Click [ Funds ] at the top right of the BINANCE screen , then click [ Deposit Withdrawals ]. Here you can see your total assets owned by BINANCE, where you can make deposits and withdrawals. After purchasing Bitcoin at the domestic exchange , click “ deposit ” in the “ BTC ” row . Then, the deposit address (remittance address) of Bitcoin will be displayed, so let’s copy it.
Once you know the deposit address, you can transfer the bitcoin to the deposit address from the domestic exchange that owns the bitcoin.
If it is reflected in the BINANCE bitcoin portion, the transfer is complete. It will be reflected in the BINANCE bitcoin part.
How to transfer BINANCE
If you want to withdraw BITANCE from BINANCE to other exchanges or wallets , click “ Withdrawal ” on the “ BTC ” line . Then, enter the remittance information and click “ Submit ” to complete the withdrawal.
In the same way as when depositing American usd from BINANCE, it is necessary to send a virtual currency to the domestic exchange and then change to American USD.
BINANCE security
BINANCE uses two-factor authentication to enhance security. Also, you can log in only by manually matching the puzzle pieces to prove that you are not a robot. Security is high because you need to take steps before you log in.
In the case of a hacker trying to withdraw money from BINANCE the other day, the BINANCE system detected a change and the withdrawal was automatically stopped. This proves that BINANCE’s security measures are world-class.
Detailed information about BINANCE
| Basic information | |
|---|---|
| Transaction fee | 0.015-0.1% |
| Smartphone compatible | ◯ |
| Maximum leverage | – |
| Trading rules (postscript) | – |
| Transaction system | Spot (forecast for futures release) |
| Minimum trading unit | 0.001BTC |
| Security | Cold wallet / Multi-sig / SSL communication / Two-factor authentication |
| support | – |
| Corporate account | – |
| Handling currency | ||
|---|---|---|
| Number of virtual currencies handled | 152 | |
| Number of currency pairs handled | JPY pairs | 0 |
| Number of BTC pairs | 151 | |
| Number of ETH pairs | 129 | |
| USD pairs | 50 | |
| Major virtual currencies | ||
| BTC | ◯ | |
| XRP | ◯ | |
| ETC | ◯ | |
| LTC | ◯ | |
| BCH | ◯ | |
| XEM | ◯ | |
| MONA | – | |
| LSK | ◯ | |
| FCT | – | |
| EOS | ◯ | |
| XLM | ◯ | |
| USDT | – | |
| ADA | ◯ | |
| XMR | ◯ | |
| IOTA | – | |
| DASH | ◯ | |
| TRX | ◯ | |
| NEO | ◯ | |
| BNB | ◯ | |
| OMG | ◯ | |
| BAT | ◯ | |
| QASH | – | |
| HT | – | |
| REP | – |
| Company Profile | ||
|---|---|---|
| Multilanguage support | – | |
| Operating company | Binance | |
| Country | Island of malta | |
| location | – | |
| Establishment date | July 2017 | |
| CEO | Changpeng Zhao | |
| Capital | – | |
| Major shareholders | – | |
| Registration number | None | |
| Member association | – | |
| Official website | https://www.binance.com/ | |
| support | Corresponding with the inquiry form on the homepage | |
| phone | – | |
| Other | – |
| Transaction fee | ||
|---|---|---|
| Spot transaction | ||
| Exchange | Exchange (BTC) | 0.015-0.1% |
| Exchange (altcoin) | 0.015-0.1% | |
| ETH | 0.015-0.1% | |
| ETC | 0.015-0.1% | |
| XRP | 0.015-0.1% | |
| XEM | 0.015-0.1% | |
| MONA | 0.015-0.1% | |
| BCH | 0.015-0.1% | |
| LSK | 0.015-0.1% | |
| LTC | 0.015-0.1% | |
| Sales office | Sales office (BTC) | – |
| Sales office (altcoin) | – | |
| ETH | – | |
| ETC | – | |
| XRP | – | |
| XEM | – | |
| MONA | – | |
| BCH | – | |
| LSK | – | |
| LTC | – | |
| FX | Execution time | – |
| swap | – | |
| Margin trading | Execution time | – |
| swap | – |
| Deposits and withdrawals | |
|---|---|
| Virtual currency remittance (withdrawal / withdrawal) | |
| Bitcoin remittance (withdrawal / withdrawal) fees | 0.0005BTC |
| Estimated time required | Several minutes |
| Remarks | – |
| Ethereum remittance (withdrawal / withdrawal) fee | 0.01ETH |
| USD withdrawal | |
| How to accept | Remit key currency from domestic exchange |
| Available time | – |
| Minimum amount | – |
| Maximum amount | – |
| Time required | – |
| Remarks | – |
| Quick deposit | |
| convenience store | – |
| Pay-easy | – |
| Internet bank support | – |
| Available time | – |
| Minimum amount | – |
| Maximum amount | – |
| Time required | – |
| Remarks | – |
| Other fees and expenses | ||
|---|---|---|
| USD withdrawal | Withdrawal fee | – |
| Remarks | – | |
| USD deposit | Deposit fee | – |
| Remarks | – | |
| Quick deposit | Quick deposit fee | – |
| Remarks | – | |
| Account / Account | Creation / opening fee | free |
| Account maintenance fee | free | |
| Remarks | – | |
| Virtual currency transfer | Bitcoin receipt (deposit) | free |
| Bitcoin remittance (send) | 0.0005BTC | |
| Remarks | – | |
| Ethereum receipt (deposit) | free | |
| Ethereum remittance (send) | 0.01ETH |
| Trading tools | ||
|---|---|---|
| One word feature | A wide range of trading is possible! Trade in time that suits you! | |
| Trading environment | ||
| Main tool name | Original / Chart: TradingView | |
| Board function | ◯ | |
| Screen customization | – | |
| Order function | Number of order methods | Three |
| Success | ◯ | |
| Limit price | ◯ | |
| Stop price | ◯ | |
| IFD | – | |
| OCO | – | |
| IFD-OCO | – | |
| Trail | – | |
| Other | – | |
| Target OS | Windows | ◯ |
| Mac | ◯ | |
| browser | ◯ | |
| Smartphone and mobile trading tools | iOS | ◯ |
| Android | ◯ | |
| Terms of use | – | |
| System trade | – | |
| chart | ||
| Chart foot type | Candlestick, line | |
| Number of chart foot types | 2 | |
| Chart cycle | 1m, 3m, 5m, 15m, 30m, 1h, 2h, 4h, 6h, 12h, 1d, 1w, 1M | |
| Drawing tool | 12 | |
| Comparison with other currencies | – | |
| Technical display | ||
| Number of technical indicators | 18 (81 for review) | |
| Volume | ◯ | |
| Trend system | Simple moving average line | ◯ |
| Weighted moving average | ◯ | |
| Exponential smoothing moving average (EMA) | ◯ | |
| Glance equilibrium table | ◯ | |
| Parabolic | ◯ | |
| Reverse watch | – | |
| Oscillator system | Relativity index (RSI) | ◯ |
| Rank correlation coefficient (RCI) | ◯ | |
| MACD | ◯ | |
| Bollinger Band | ◯ | |
| Directional Movement Index (DMI) | ◯ | |
| Volatility | ◯ | |
| Williams% R | ◯ | |
| Psychological line | – | |
| Stochastic | ◯ | |
| Slow Cast Cast | – | |
| Fast stochastics | – | |
| Momentum | ◯ | |
| Other technical indicators | ◯ |
| FX and leverage | ||
|---|---|---|
| FX | Leverage | – |
| magnification | – | |
| Forced loss cut | – | |
| Minimum trading unit | – | |
| Open interest limit | – | |
| Margin trading | Leverage | – |
| magnification | – | |
| Forced loss cut | – | |
| Minimum trading unit | – | |
| Open interest limit | – | |
| futures | Leverage | – |
| magnification | – | |
| Forced loss cut | – | |
| Minimum trading unit | – | |
| Open interest limit | – |
| Smartphone app | ||
|---|---|---|
| app name | Binance Exchange-Cryptocurrency Trading App | |
| ease of use | ◯ | |
| One word feature | UI is easy to use. There is also fingerprint authentication, so you can rest assured security. | |
| Compatible terminal | ||
| iPhone (recommended environment) | – | |
| Android (recommended environment) | ◯ | |
| iPad | – | |
| Web compatible | ◯ | |
| function | ||
| Order function | ◯ | |
| Deposit / withdrawal function | ◯ | |
| Portfolio function | ◯ | |
| Brand screening function | – | |
| Ranking function | – | |
| Market information function | – | |
| Real-time price rate display function | ◯ | |
| chart | ||
| Chart foot type | Candlestick | |
| Number of chart foot types | 1 | |
| Chart foot cycle | 1m, 3m, 5m, 15m, 30m, 1h, 2h, 4h, 6h, 12h, 1d, 1w, 1M | |
| Technical display | ||
| Volume | ◯ | |
| Trend system | Simple moving average line | – |
| Weighted moving average | – | |
| Exponential smoothing moving average (EMA) | – | |
| Glance equilibrium table | – | |
| Parabolic | – | |
| Reverse watch | – | |
| Oscillator system | Relativity index (RSI) | – |
| Rank correlation coefficient (RCI) | – | |
| MACD | – | |
| Bollinger Band | – | |
| Directional Movement Index (DMI) | – |
| Security | ||
|---|---|---|
| Separation management of customer assets | ◯ | |
| Storage method | Multi-sig compatible | – |
| Cold wallet support | ◯ | |
| Countermeasures for unauthorized login | Two-factor authentication | ◯ |
| Account lock | ◯ | |
| Notification of login history | ◯ | |
| Other | – |
I am in fact pleased to read this blog posts which contains lots of helpful facts, thanks for providing these kinds oof information.