Binance Review 2021 Safe Exchange

Binance is currently the world’s largest cryptocurrency exchange platform. Not only is it the most popular platform at the moment, but it has also the largest real daily trading volume and it is the cheapest exchange available. Using an exchange is not as easy as for example Bitvavo or Bitladon, but if you use the Binance tutorials from CryptoTips you will soon understand how to easily exchange cryptocurrency for another cryptocurrency. Read in our Binance review more about this exchange, what it is, its history, its services, verifications and if it’s safe to trade on Binance.

What is Binance?

Binance is a cryptocurrency exchange that focuses on all kinds of traders. It’s a perfect place to start as a beginner, but it is also targeting the experienced cryptocurrency trader. They use different layouts for each type of trader. You can compare an exchange with a foreign currency exchange bureau where you can exchange one cryptocurrency for another to make a profit. In recent years, Binance has grown into a platform where you can do almost everything that has something to do with crypto. They offer dozens of different services and new services are added regularly.

The Binance offer is very wide, but not all cryptocurrencies are available on this exchange. At the moment there is no exchange where you can buy all cryptocurrencies in the world, because there are simply too many cryptos in circulation and not all projects are equally safe or legit. On top of that dozens of cryptocurrencies are created every day and it is impossible to show them all on one exchange. The offer of Binance is regularly expanded and this is often accompanied by a nice competition where you can win free tokens based on trading volume.

Binance also launches IEOs where new projects (coins) can launch their coin. Binance started as an exchange-only, but offers nowadays more and more services. You can use the platform for cryptocurrency staking, saving, lending, future trading and more.

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Visit https://www.binance.com/

How to buy crypto at Binance?

For beginning users it can be quite complicated to buy cryptocurrency, especially on an exchange like Binance. For this reason we made several tutorials and instructional videos to explain it as clearly as possible.

Create an account

Creating a new account is very easy. You only need an email address and password. We will give you a lifetime 20% discount on all fees with our special link. And don’t forget to apply our Binance referral ID to receive the lifetime cashback on all your trades.

Place an order

After you register your account you can open positions and place orders. Keep in mind that you are exchanging cryptocurrency for another cryptocurrency on this exchange. Therefore, you need cryptocurrency to start with. It won’t be an issue if you don’t own any crypto, you can buy it at Binance (with a high fee) or with a broker. We will explain how to do that.

Please follow these steps to place an order:

1. Register an account or log in
2. Hover over Wallet and click on Spot wallet (Deposit and Withdraw)
3. Search for Bitcoin (BTC) and click on Deposit
   1. You can buy Bitcoin with a broker for a low fee.
   2. You can buy Bitcoin at Binance with a credit card.
   3. If you already own some crypto, search for that coin and deposit it into the right address.
4. Send the Bitcoin to your own address. You receive a notification when it is deposited successfully
5. Hover over Spot and click on Classic
6. Search for the coin you want to buy and click on it
7. At the bottom you find your Buy and Sell screens. We advice you to use the Limit or the Market order (for now)
   1. Limit order: the order will be placed for in the order book for the price that you have filled in. You have to wait until the price reaches your chosen price
   2. Market order: the order be executed immediately for the current market price

After your order is executed you successfully traded Bitcoin for your chosen coin (with a limit order is it even possible that your order has been partially filled). When you want to sell your coins you can use the screen next to it.

We also wrote an in-depth how to trade on Binance guide. If you don’t get it, please contact us and we will help you.

Visit https://www.binance.com/

History of the Binance exchange

The Binance exchange is a very young exchange and was founded in 2017 after a very successful Initial Coin Offering (ICO). Binance is a good practical example to see that an ICO has worked out well and that the associated Binance Coin is getting an increasingly favorable value. The CEO behind Binance is Changpeng Zhao a very well known name especially in the Asian cryptocurrency market. Most crypto investors know him, because he is very active in the crypto space. He tweets a lot, gives AMA’s and is the face behind Binance. Check out his Twitter here.

The Binance ICO took place in July 2017 and more than 100 million tokens were sold in three phases. During the first phase you could buy 2700 BNB tokens for 1 Ethereum. Around July 1st, the Ethereum value was about $280, and you paid $0.10 per Binance Coin.

At the moment you pay $25 for 1 BNB and most investors see the BNB as a token with potential. The all-time high of the Binance Coin was $39 in June 2019. After that it went down to $9 in March 2020 and climbed back to $17 in May 2020. Binance is doing its best to let users hold the BNB token. You will get discounts on fees, a higher commission and you need the token to invest in IEOs. There are a lot of use cases for this token, and we can imagine that in the future there will be a lot more.

Binance services

Binance is developing new services at a rapid speed, launching one service after another. It is almost impossible for us to highlight all services in this Binance review. We’ve highlighted the most important services you should really know.

Buy Crypto

Binance works with various third party platforms that can convert fiat to crypto. This makes it easy to pay with a fiat currency using credit card or other payment methods and your crypto is automatically sent to your Binance wallet. Keep in mind that you often have to perform a KYC with the third party platform and that the fee is often higher than when you buy crypto via your local broker.

Binance Earn

By using Binance Earn you can generate extra income using the crypto you are holding and not using for trading. With Flexible Savings you can flexibly stake your crypto, which means that you can withdraw it at all times. The annual return is visible behind each crypto. Using Locked Savings or Staking you will lock your crypto for a specific period. You generally receive more interest when you lock your crypto, but you cannot withdraw it until it’s unlocked.

Binance Card (debit card)

With the Binance debit card you can easily spend your crypto in stores that accept VISA. The card is 100% free and no fee is charged for a transaction. The debit card is linked to your Binance wallet and you can spend your crypto immediately. You can receive a cashback of up to 8% on all your purchases. You get this paid in Binance Coins. Read more about the Binance Card.

Visit https://www.binance.com/

Futures trading

There is also a special futures derivatives environment for professional traders. Keep in mind that this is only for experienced traders. To use Futures trading you must give your consent separately and you must transfer your funds from Spot to Futures.

Binance Launchpad

Binance has developed Binance Launchpad, where new crypto start ups can easily do their token sales. Binance does the full background check and verifies if the company meets all the requirements. This is also called an Initial Exchange Offering and is very popular among investors. Binance arranges everything from the research to listing the currency on the exchange. Because Binance approves the new project, it instills a lot of trust within the community. To participate in an IEO you must be verified.

Binance limits and verifications

A major struggle for users is that on many exchanges you have to provide a lot of personal data and it usually takes a very long time before the verification process is completed. It is completely free to register an account at Binance, but of course they have verifications and limits from a legal point of view.

After registering your account you are Level 1, unverified. This does not mean you can’t do anything with your account! For most people an unverified account is more than enough. The following limits apply at Binance:

• Level 1 (unverified): 2 BTC per 24 hour trade/withdraw
• Level 2 (fully verified): 100 BTC per 24 hour trade/withdraw
• Level 3 (for whales): More than 100 BTC per 24 hour

So if you don’t trade or withdraw more than 2 BTC per 24 hours, you can get started with a level 1 account. And you don’t have to go through a KYC procedure. Suppose you want to withdraw 4 BTC, you can spread this out over 48 hours to still meet the limits.

A level 2 verification is realized by entering your personal details as they appear on your passport. Upload a photo of both the front and back. Besides that you have to upload a selfie with you and your passport, which also shows the current date and the word Binance.

Binance fees and costs

The business model for an exchange is the fees they charge per transaction. These are fees for exchanging cryptocurrency, but also for withdrawing (sending) crypto. Depositing cryptocurrency is completely free and no fee is charged for this. Per coin you pay a different fee to send or withdraw, this list is available on the website. To exchange cryptocurrency you pay a standard 0.1% fee.

A nice addition of Binance is that you get 25% discount on the fees if you hold the Binance Coin. When you create an account, this discount is by default ticked in your dashboard. Do you want more discount? If you register an account with us, we will share 20% of the commission with you for life!

You must hold the Binance Coin (BNB) to make use of this special discount. If it’s ticked On and you have BNB coins, then the discount will be applied automatically. Depending on how long you are registered at Binance you will get a different discount:

• First year: 50% discount (2018/2019)
• Second year: 25% discount (2019/2020)
• Third year: 12.5% discount (2020/2021)
• Fourth year: 6.75% discount (2021/2022)

After the fourth year you won’t receive any more discount on your trades and you’ll have to pay the full price. By the way, it’s not about how many years you’ve been registered, but how long the exchange has been in existence. We will update our Binance review when the 25% discount is over and the 12.5% discount will be applied.

Binance hack 2019

In 2019 a Binance hack took place, where criminals stole over 7047 BTC from the exchange. Hackers are a constant threat to every exchange and broker (actually, to all IT companies). A smart attack allowed the hacker to take over multiple accounts and to move BTC from the platform without any alarm bells ringing at Binance.

It’s good to see how a company reacts to such a hack. Binance’s CEO kept the entire community well informed of the progress. All losses were compensated from the so-called Secure Asset Fund for Users (SAFU). Because of the good communication and the compensation of the losses, the crypto community was very positive. Even the Bitcoin price barely reacted to it.

To prevent the Binance hack in the future, the company has taken several measures.

Is Binance safe?

Binance is a very safe Asian exchange (that is currently based in Malta). Everyone on the Binance team is listed by name in the whitepaper and on the website. The CEO, Changpeng Zhao, is a well known name in the crypto world and has an impressive track record. He was a manager at Blockchain.com, the CTO and Co-Founder at OKCoin and also the CEO of BijieTech. These are large companies that are still successful today.

A few other well-known names within Binance are:

1. Roger Wang (Co-Founder and CTO): Nomura Securities en Morgan Stanley
2. James Hofbauer (Chief Architect): Palantir en Fusion Systems
3. Paul Jankunas (VP of Engineering): SBI BITS en Fusions Systems
4. Allan Yan (Product Director): Orient International Holding
5. Sunny Li (Operations Director): Accenture

You may see all the names for yourself on Binance’s website. Given the transparency and the popularity, you can assume that Binance is safe. So it is an officially registered Asian company that is growing in popularity. They owe this popularity to a good system, good communication, good support and a good platform.

It’s still an exchange and as always, it’s recommended to only leave money on an exchange which you trade with. Never use an exchange as your wallet, because such companies are always targeted by hackers or other internet criminals. Also, never use the same password for multiple platforms and always enable 2-step verification. The SMS verification function does not work for European users.

Visit https://www.binance.com/

Bittrex Review 2021 Safe Exchange

Bittrex is a crypto-to-crypto trading exchange located in the United States. It is one the first cryptocurrency exchanges in the world and they have a lot of experience the financial market. We did a thorough research on this exchange. You will find the ins and outs of this platform in this Bittrex review. After reading this full review, you can decide about trading on Bittrex is safe or not. We have developed a rating system on this platform, you can leave your reviews about the exchange on this platform at the end of the article.

Visit https://global.bittrex.com/

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Bittrex alternative

There are a couple of secure and reliable exchanges available on the internet that can be considered as a Bittrex alternative. Are you looking for a cryptocurrency exchange that offers you easy payment methods? You can deposit euro or dollar at Bittrex, but only with a credit card (3% + 2.5% fee) or with bank transfer (takes a long time).

A good alternative for Bittrex is the Bitvavo exchange. Here you have easy payment methods like iDEAL (free), Bank Transfer (free), Bancontact (free), MyBank (1.5%), EPS Überweisung (1.75%), SOFORT (2.25%) and Giropay (1.75%).

You can buy more than 58 currencies with built-in wallets and they charge a very low fee (0.25%). The exchange has a good reputation all over Europe. You can click below on active deal and trade your first €1000 for free.

Bittrex	Details
Visit Bittrex	More than 190 cryptocurrencies available  OK fees, not more than 0.20%  Built-in wallets  Used by millions of customers

What is Bittrex?

Bittrex is a cryptocurrency exchange located in the United States. With a headquarters in Seattle and Washington state. A professional team of cyber security engineers, Rami Kawach, Richie Lai, Ryan Hentz, and Bill Shihara founded Bittrex in 2014. All these guys have more than fifty years of experience related to security concerns. Which is an important factor in the crypto scene. The team has vast experience in developing companies like Qualys, the famous cellphone manufacturer Blackberry, and the world’s hottest online shopping store Amazon. Bittrex is considered one of the most well-established cryptocurrency exchanges in the world.

The security of your cryptocurrency is the key objective of Bittrex. The founding team saw the incidences of exchanges hacking and decided to use their skills to build a safe and secure platform that the users can trust. In 2018 a well-established Japanese cryptocurrency called Coincheck was hacked. The platform lost more than half a billion coins. This is one of the reasons Bittrex stepped in the cryptocurrency game to make the investors’ money secure.

You have a ton of choices for cryptocurrencies on Bittrex. There are more than 190 different cryptocurrencies available on the platform for trading. Bittrex offers the option of more than 500 unique pairs of crypto to traders to choose from on the platform.

Just for your information, the daily trading volume of Bittrex on a day is more than 250 million dollars. If you look at the number of trades performed on this platform on a single day, this is counted to more than 55 million.

So, now you know that the founders of this platform are working hard to make this website a success. And that the platform is used by a lot of traders worldwide.

Visit https://global.bittrex.com/

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Advantages of Bittrex

Why should you choose for Bittrex?

• Sophisticated and efficient platform
• Security is top priority and they have in-house experts
• A maximum maker and taker fee of 0.20%
• Bittrex does not charge fees on withdrawals and deposits
• Mobile app for iOS and Android

Bittrex listed more than 190 cryptocurrencies for you to trade. This enables buyers to trade older as well as newer cryptocurrencies. Elastic computing enables Bittrex to process trades at a much faster rate than most of the well-known cryptocurrencies.

How to create a Bittrex account?

Creating an account on Bittrex is not complex. It is easier than you think. You will be able to create your trading accounts in minutes. Below you will find the step by step process to create an account easily.

1. Go to the Bittrex home page
2. On the signup page enter the login credentials. Enter your email address and password. Make sure that you choose a strong and safe password
3. The referral code can be: 3CK-KZ5-3CF
4. Once the account is created you will receive an email on the registered email address to verify your account. Click on the link and verify the account.

Bittrex verification

To verify your account to the basic level, you have to do the following:

1. Click on Account and Identity Verification
2. Choose your country and select the ID type
3. Take a photo of your identification document and a selfie with you holding your ID

Within a few minutes your application will be processed and you will see if it was successful. If you want more security, you can turn on the two-factor authentication. For this go to Account and select Two-Factor authentication.

How does Bittrex work?

Bittrex is a crypto to crypto trading exchange. So, to trade on this platform, you need cryptocurrency. If you already have a cryptocurrency in your external digital or hardware wallet you can transfer that to Bittrex. If you don’t own cryptocurrency, you can buy cryptocurrency using fiat currency at Bitvavo. Please see the guide to buy crypto here. Once you have the cryptocurrency you can transfer it to Bittrex.

How to place an order:

1. Make sure there is some cryptocurrency in your wallet
2. Click on Markets and select your favorite trading pair
3. At the right side you can open a buy or sell order
4. To place a limit buy order, fill in the desired price and amount and click on Place buy order
5. Repeat this proces for every other ordertype 

Bittrex keeps the least amount of user information as possible. Also, to make the platform safe and secure it uses Jumio. Jumio can verify more than 100 million people in 200 countries around the world. This reduces the user information to a residential address, date of birth, and officially registered name of the user.

Bittrex is based in the United States. This makes Bittrex follow American laws rigorously. It follows the anti-money laundering required by the US government. This law is designed to stop financial crimes and other fraudulent transactions.

Bittrex is working hard to maintain the quality of the listed currencies. The team makes sure that the source codes of the new currency are analyzed to check the credibility of the currency.

https://bittrex.com/Account/Register?referralCode=IWN-N5Y-AUY

Bittrex fees

The Bittrex fees are based on your 30-day trading volume, just like at Binance. When you trade more, you pay less fees. The fees are relatively high in comparison with Binance. Not a lot people have a trading volume of 1 million dollar each month.

Is Bittrex safe?

Bittrex team consists of professional cyber security engineers. It is one of the main objectives to make the platform safe and secure. There is no doubt that Bittrex is considered one of the most secure cryptocurrency exchanges available in the market. Bittrex is designed to keep more than 85% of its currency in secure offline storage. This is known as the cold storage of cryptocurrencies. This is one of the reasons that to this date Bittrex has never been hacked. All of its customers are very happy with the safety of this platform. They have the peace of mind about the security of their investment.

Bittrex always uses two-factor authentication to process its transactions. Two-factor authentication means a user has to provide two different kinds of information before the platform permits the transaction. 

In the world of cryptocurrencies, finding a safe and secure platform is as important as oxygen for human beings. Bittrex is very secure and safe. It is one of the best legit trading platforms available on the internet.

Did you trade crypto at Bittrex and would you like to share your review? You can do so by using the evaluation form below.

What are the fees at Bittrex?

The exchange fees start from 0.20% for both makers and market takers. This is based on your 30-day volume. When you trade more you will get a discount.

Which payment methods does Bittrex support?

Bittrex supports credit card (2.5% + 3% fee) and bank transfer (free)

Does Bittrex offer a built-in wallet?

Yes, for all the 190+ currencies you will get an unique wallet.

How can I contact the support?

You can contact the support by creating a ticket or contacting them on social media.

Visit https://global.bittrex.com/

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How to Trade Crypto On Binance

If you are interested in buying or selling a cryptocurrency, there are few better places to look than one of the world’s largest cryptocurrency exchange by trade volume, Binance.

Founded in 2017 by Changpeng Zhao – who earned the number-one spot on CoinDesk’s 2018 Most Influential list – Binance rose to prominence during the historic crypto market-wide bull run in 2017 by supporting a wide array of cryptocurrencies in what was, and perhaps still is, one of the fastest and most reliable trading platforms.

In fact, Binance became so popular, so quickly that CZ and Binance both became worth more than $1 billion in less than one year, officially making it one of the first companies to achieve “unicorn” status in the cryptocurrency industry.

Yet despite its reputation as a destination for crypto traders, it’s not exactly easy for users who lack a traditional trading or investment background to navigate their way around.

In this piece, we take a step-by-step look at how to use Binance and conduct a trade on the exchange.

Signing up

Go to Binance

Click here to get to the exact page of Binance exchange login you need to get started.

First thing’s first, you’ll need to create an account. Anyone is able to sign up since Binance does not require customer information, but by doing so “you acknowledge and declare that you are not on any trade or economic sanctions lists” as per its Terms of Use.

This includes citizens of the member countries in the UN Security Council Sanctions list, the Office of Foreign Assets Control of the U.S. Treasury Department (OFAC), among other groups.

The terms also state each user must be at least 18 years of age. Binance reserves the right to cancel or freeze any account If the terms are disobeyed.

If the restrictions do not apply to you, to sign up simply navigate to the homepage and click register.

You will then be asked to enter a minimal amount of personal information such as your email address, password, and a referral ID if you have one.

As per Binance’s referral system, you will receive 50 percent of your referrals trading fees.

After you fill in the required fields, click “Register” and complete the captcha, a confirmation link will be sent to your email address.

Once the link is clicked, your Binance account is ready to be used.

Deposit Funds

Now that your account is activated, but before exploring the rest of the exchange, you’ll need to add funds to your account if you wish to buy or sell any cryptocurrencies.

Pay with credit card

Binance has a feature that allows users to purchase certain cryptocurrencies directly with their Visa or Mastercard credit card. If you are a qualified candidate, navigate to the “Funds” tab and select “Buy With Credit Card.”

You will then be required to enter the purchase amount of the desired cryptocurrency and whether you will be paying with the US dollar or euro. Cryptocurrency purchases by credit card are limited to BTC, ETH, and LTC at this time.

There is a minimum processing fee of $10 or 3.5 percent of the total order – whichever is more expensive. After completing this step, you will need to confirm your billing information, email address as well as your identity.

A valid government issued form of ID is required to be submitted to confirm your identity.

Once all of the required steps have been completed, the newly purchased cryptocurrency should reach your Binance wallet within 10-30 minutes.

Deposit from wallet

You can also make a deposit by sending funds from a separate cryptocurrency wallet into your Binance account.

In order to do this, navigate to the “Funds” tab once again and click “Balances.”

On this page, you will see all of the cryptocurrencies available for trading on Binance. To deposit the corresponding crypto into any of these, simply click the “Deposit” button next to the crypto asset of your choice.

Next, either scan the QR code from your cryptocurrency wallet or paste in the address and then send.

Once that’s complete, wait for the transaction to process and you’ll be ready for trading.

Placing a trade

Let’s go back to the home page now that your funds are ready to be used.

Here, you will again see all the cryptocurrencies that are tradable on Binance and their respective markets.

For this example, let’s say you previously deposited 0.0024 BTC (~$10) into your account and now wish to trade it for NEO.

First, you’ll need to find the right NEO market.

Since you want to spend BTC in order to get NEO, click the “BTC Markets” tab and then type NEO into the search bar.

Click the appropriate row and the page where trading takes place will open.

Trading module

This page may look intimidating, but you can easily get the hang of it with a bit of practice.

Plus, most cryptocurrency exchanges have a similar trading interface so what you remember here, in all likelihood, will be relevant elsewhere.

The left section of the screen is known as an order book.

Here, you will see all active buy and sell limit orders. A limit order is simply an order that will only be placed at the user’s desired price, given there are buyers or sellers interested at that level.

If you would like to learn the “in’s and out’s” of an order book, check out our comprehensive guide, but for now all you need to know is that the top of the order book (red) is where the limit sell orders wait to be filled and the bottom section (green) is where the limit buy orders wait to be filled.

The right side of the page is more simple – the above section shows the other cryptocurrencies that can be traded and the lower section shows the public trade history of the market currently being viewed.

Trade example: Buying NEO

The center of the page is where the real magic happens.

Here lays a chart feature that shows real-time price action and technical analysis indicators. Just below the chart is where you will actually execute the trade, so let’s buy some NEO.

If certainty of execution is your priority, select market order. If you are interested in only buying at a specific price level, select either limit or stop-limit order.

For the purposes of this example, let’s place a market order, which will be placed immediately at current market prices.

Now, just enter the amount of BTC desired to be spent and how much NEO you want to purchase. Binance has a useful shortcut for entering the purchase amount and it is based on a percentage of your bitcoin balance (or any other appropriate trading pair).

Let’s spend 50 percent of the BTC balance so there is some left over, perhaps for another trade.

The last step is to click the big green button “Buy NEO.” Since this is a market order, the trade for 0.58 NEO should have completed instantly, but that is most likely not the case if you selected limit or stop-limit order.

To check on the status of your order, look towards the bottom of the page where it says “Open order.” As the title would suggest, if your order has not yet executed, in other words, is still “open,” it will appear in this box until it has either been canceled or filled.

When it has been filled, it will show up in the lower box highlighting your 24-hour order history, just as how this order has below.

In order to sell, simply follow this same process but execute a market or limit sell order.

Withdrawing funds

While Binance does have a decentralized exchange in the works, the existing platform is centralized and susceptible to hacks like many other websites, so it’s recommended funds are only held on the exchange for as long as necessary.

In order to withdraw, navigate back to the “Balances” page. If you would like to see only the cryptocurrencies you have a substantial balance in, check the “hide” box.

Now select the withdrawal button in the NEO row and have your destination address or QR code handy. Paste the address and select how much you want to withdraw.

Last but not least, click submit and wait for the transaction to complete.

Binance Launchpad

The Binance Launchpad is a token launch platform exclusive to Binance and plans to offer token sales for new projects.

Binance handpicks which tokens to launch based on a number of factors including project maturity, scalability and adoption readiness, team quality and the ability of the project to benefit the broader cryptocurrency ecosystem.

To ensure the sales are being conducted in compliance with regulatory regimes around the world, each user must verify his or her Binance account.

Completed token sales, as well as those scheduled for a future date, can be seen on the home page of the Binance Launchpad. It’s worth noting that the token sales operate on a “first come, first serve” basis and usually sell out in just minutes, so be sure to do your due diligence.

If you successfully participate in a Launchpad token sale, the tokens will be automatically credited to your Binance account.

Security

Like most modern cryptocurrency exchanges, two-factor authentication (2FA) is enabled on Binance and is highly recommended to be set up in order to add an extra layer of protection to your account.

In order to do so, navigate to your account summary by clicking the user avatar in the top right of the home page.

Once directed to your account page, a prompt will likely appear suggesting you to enable 2FA, which happens to automatically pops up when a new user accesses this page.

Binance allows two methods for enabling 2FA, via SMS or Google Authenticator.

With the SMS version, simply enter your mobile phone number and the verification code sent to the corresponding phone and you will be all set.

If Google Authenticator is your 2FA of choice, download the mobile application, open it and scan the QR code provided by Binance. Next, you will be asked to write down a 16-word recovery phrase to be used as a backup in case you lose access to this google authentication.

Lastly, you will be prompted to enter your account’s login password and the authenticator code found in the Google Authenticator mobile app. Once complete, this form of 2FA security will be complete.

Pros and Cons

Pros

• If you’re constantly on the go, Binance’s mobile application may be perfect for you. It’s compatible with iOS, Android, as well as Mac and PC operating systems so just about anyone can place a trade or monitor their account from virtually anywhere.
• Binance offers a large selection of tradeable cryptocurrency markets. As of May 1, 2019, 467 different markets are supported on the exchange.
• Binance has it own native exchange token, BNB, which can be used to supplement trading fees and boost the overall liquidity on Binance.
• Binance was a pioneer of the Initial Exchange Offerings, and It’s Launchpad facilitates sales once a month for those who are interested in being early holders of new tokens.
• Higher trading volume that most other cryptocurrency exchanges.

Cons

• If following government regulations like that of the US is important to you, then you may want to try out exchanges such As Coinbase or Gemini, because at this point Binance is still an unregulated exchange.
• Many of Binance’s markets, specifically those of the lesser known altcoins, offer low liquidity which can make trading large altcoin positions difficult.
• The somewhat complex user interface can be challenging for novice traders and investors to adjust to.

Images via Binance website

source https://www.coindesk.com/information/how-to-trade-crypto-on-binance

Binance Academy’s Freshman Year: Top 10 Articles and Milestones [Plus Ledger Wallet Giveaway]

Binance Academy, the educational arm of Binance, is celebrating its first anniversary today. Here are some of the highlights and top stories from a year of quality crypto-education for all. We are also introducing a new survey and giving away Ledger wallets to lucky responders.

Exactly one year ago, Binance Academy was launched in beta as Binance’s official cryptocurrency education platform. Within just one year, Binance Academy has grown into one of the most reliable sources of information about blockchain and cryptocurrency. We want to thank the people who have learned about blockchain on our website. Around 3,000,000 people have contributed close to 10 million page views.
How much education has Binance Academy delivered to the public? Here’s a neat stat: Binance Academy users have spent a total of 3,932,114 minutes reading our articles. That’s 7.48 years of time spent to learn about blockchain, with more than 50% of that time recorded over the past 90 days. In addition, our YouTube videos recorded a total of 9,250 hours (385 days) of playback in our first year.
We’ve also launched a new survey today, for us to get to know you and your preferences better. Answer this survey to get a chance to win one of 10 custom Binance-branded Ledger Nano S hardware wallets!
Message from the Binance Academy Team

About 14 months ago, Binance Academy was a pipe dream. Today, it’s bringing education to millions around the world. We phrased it like this because it all happened in the blink of an eye. The journey from the idea on the back of a napkin, to a one-man side-project, then to the dedicated and hardworking team we are now, it’s been an extremely rewarding journey. Along the way, we have been able to provide education to millions of people wherever they may be around the world, and this has been our motivation since the beginning. This is not the end, or anywhere near. We will continue to work towards our goal of bringing entirely neutral education to every corner of the world. Thank you to the communities who have supported us, the passionate learners who are enjoying our content, and to the dedicated team who have worked so hard to bring Academy to the world.

Milestones
Since the beta launch last August 2018, the Binance Academy has relentlessly worked to enhance the website and introduce new content and features regularly. Within just one year, Binance Academy has delivered the following results:
- More than 100 educational articles, providing in-depth discussions on various topics.
- Over 200 glossary terms providing concise definitions of crucial terms used in the blockchain space.
- Support for 17 languages, with most of these languages going live as early as December 2018. The most recently supported language, Japanese, rolled out this month.
- Video explainers and audio versions of articles, providing multiple ways for people to learn and understand blockchain topics.
- Interactive features, such as the most accurate Bitcoin halving countdown online (shown below), educational quizzes on Phishing and Blockchain Terms, and several Playlists created to streamline blockchain education.



- A progressive web app that you can download on multiple devices for easier access to Binance Academy.
- Two large site redesigns, executed to improve user experience.
- 200 hardware wallets given across multiple promotions and awareness campaigns executed by Binance Academy throughout the year.
- Dark and Light themes so you can customize your own viewing experience.


Top 10 Binance Academy Articles
Out of the hundreds of things you can learn on Binance Academy, there are 10 articles that stood out to our millions of users. The 10 most-read articles on Binance Academy represent a mix of crypto trading, technology, and security topics.
1. What Is a Dusting Attack? This is a timely article on the act of sending tiny amounts of coins to several crypto wallets in an attempt to identify who owns them. Binance Academy went the extra mile and informed everyone about its discovery of a dusting attack on several Litecoin wallets.
2. What Is Margin Trading? Binance recently launched a Margin Trading service, which allows people to trade assets using borrowed funds. Ever the dutiful educator, Binance Academy explained how margin trading works in crypto markets. [Bonus: We also have a guide on how to do margin trading on Binance.]
3. MACD Indicator Explained. One of the several technical analysis (TA) articles that gained traction on Binance Academy, this article outlines how to use the Moving Average Convergence Divergence (MACD).
4. What is a Coin Burn? Every time Binance CEO CZ informs the public about the latest BNB coin burn figures, there’s always at least one person who asks what a coin burn is. It’s a good thing Binance Academy has an easy-to-understand article about it.



5. Symmetric vs. Asymmetric Encryption. One of the more technical articles on Binance Academy, it demonstrates how these encryption methods are used.
6. Ichimoku Clouds Explained. Binance Academy sheds light on how this fancily named TA method puts good use of several indicators.
7. Byzantine Fault Tolerance Explained. This is the story of how addressing a logic problem called the Byzantine Generals’ Problem has helped create the sophisticated technology behind Bitcoin and blockchain.
8. Stochastic RSI Explained. The third trading-focused article on the list, this article describes how this indicator can tell if an asset is oversold or overbought.
9. Common Scams on Mobile Devices. The average person touches his/her phone more than 2,600 times a day. With this article, Binance Academy helps you avoid using up any of those touches on scams.
10. Why Public WiFi is Insecure. In one of its several security articles, Binance Academy informs the public of the dangers of using public WiFi networks, especially in crypto trading.
Binance Academy’s Plans for Sophomore Year, Starting with a Wallet Giveaway
For its second year, Binance Academy expects to come up with even more content and enhancements. One of the things to watch out for is the launching of Certified Courses on blockchain and cryptocurrency topics.
Another thing that we are introducing is a new way for us to better know the people who use Binance Academy. Starting today, you can submit your feedback here in our anniversary survey, and you will get a chance to win one of 10 Ledger Nano S hardware wallets that we’re giving away.
Let’s work together in evolving Binance Academy into a universal platform for crypto education. In other words, a university.
Binance Academy is available in the following languages: Arabic, Chinese Simplified, Chinese Traditional, Dutch, English, French, German, Italian, Indonesian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Turkish, and Vietnamese.
What’s next for the Academy? We want to hear your opinion. Leave a suggestion on our feature request board.