Binance crypto exchange was founded with two visions. To increase global freedom of money and to be the infrastructure services provider for the blockchain ecosystem. For now, they managed to be one of the leading cryptocurrency exchanges with an average daily volume of 2.0 bn.
For the clients, they provided Binance Academy, Binance Charity (not-for-profit foundation for advancing blockchain-enabled philanthropy and global sustainable development), Binance Lab, Binance Wallet and Chain, etc.
As you can see, they managed to make a crypto exchange platform that has everything one client could need. Of course, we will go through every detail in this Binance review, to see whether all those claims are true or not.
If you want to buy and sell cryptocurrencies at Binance crypto exchange, there is a possibility to do that with and without an account. You can use your Credit or Debit card to buy different cryptocurrencies without opening an account. Of course, in that case, you don’t have full access to their portfolio, but the offer is still excellent.
If, on the other hand, you want to open an account and gain access to everything they provide you can do it in a few easy steps. Once you verify the account, the status you get is VIP 0. They have accounts from VIP 0 to VIP 9 and the only requirement is to trade more. For example, if you want to switch from VIP 0 to VIP 0, you need to trade another 50.00000000 BTC and increase your BNB balance by 50.00000000 BNB.
Another thing that surprised me pleasantly — they do not charge any fees for account maintenance.
Each Binance client gains access to their Academy. This is a place that consists of learning materials and articles that can help you while buying and selling cryptocurrencies. I have to say from the beginning, this is the part of Binance crypto exchange that surprised me the most.
Their Academy has a variety of articles that reflect on different topics. So, if you are a beginner there are so many guides like A Beginner’s Guide to Day Trading Cryptocurrency or A Beginner’s Guide to Classical Chart Patterns, etc. Also, there are articles for Pro traders and some common mistakes they make.
An excellent thing they provided is the possibility to suggest a topic. Each client can send them a suggestion and they will work on the explanation and there is a possibility to subscribe to their educational newsletters.
In addition, they have a Binance Blog. This is not a place for eBooks and learning materials, but for all the latest news. So, if you want to stay updated with the changes that happen in the crypto market, follow their blog section.
The website design they made is excellent. Fast, responsive and optimised for every device. You can trade without any interruptions on your computer, mobile or tablet. They have downloadable versions, too. So, if you don’t want to use a browser you can download an app for your computer or go to the Play or Apple Store and download it for your smartphone.
When it comes to the wallet, they made their own called Trust Wallet. You will have to download that as well and use it as an app. The wallet works fine but I need to say that I expected more from an exchange like this.
Here comes the part that left the biggest impression on me, after the education section. Binance crypto exchange provides several methods for contacting customer support. The fastest one is Live Chat that is available in nine languages. Aside from that, we have an online form where you can fill in your details and message and they will answer on the email you provided.
They also have different private groups on social media and as a client, you have access to all of them. Lastly, there is a Frequently Asked Questions Page, where you can see if someone already had the same problem as you and how they solved it.
They offer two ways of funding. Traditional currencies (they offer more than 40 of them) or cryptos. You have to decide whether you will use Credit/Debit Card, Bank Deposit (with SEPA), P2P Trading, Cash Balance (if you want to buy crypto with EUR balance you have on account) or Third-Party Payment (Mercuryo, Simplex, Koinal or BANXA).
You will have to pay fees for every withdrawal, but they are different for each coin. For example, for Bitcoin (BTC) deposit fee is free, while the withdrawal fee is 0.0004. For Ethereum (ETC) the withdrawal fee is 0.01.
The only way to stay updated with their fees (the system automatically updates the withdrawal fee rate daily at 01:00 UTC time) is to visit their Fee Schedule before you make any purchase.
What Do We Think?
If you want to open an account at Binance crypto exchange, you can go ahead as we think that this is a reliable crypto exchange that offers numerous possibilities to its clients. Most importantly, you will be able to learn a lot thanks to their Binance Academy.