Binance

Binance is a blockchain-based cryptocurrency exchange. It is one of the fastest growing cryptocurrencies in the world.

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Crypto1earn

9/18/20223 min read

Binance
Binance

What is Binance?

Binance is a cryptocurrency exchange that allows users to trade Bitcoin, Ethereum, and other cryptocurrencies in a safe and secure environment. Binance was founded by Changpeng Zhao (CZ), the CEO of the company. The exchange has been around since July 2017 and has grown rapidly in popularity due to its low fees and fast transaction speeds.

The platform offers both fiat-to-crypto trading as well as crypto-to-crypto trading pairs for each of their supported currencies. Users can also deposit funds into their account via wire transfer or credit card payment methods. Binance currently supports more than 100 different coins with over 150 pairs available on the platform at any given time. The exchange does not charge any fees for deposits or withdrawals, but does charge 0% fee for all trades made on the platform. In addition, they offer a referral program that rewards users who invite new traders to join them through referrals from their friends list or social network accounts such as Twitter and Facebook accounts.

How does Binance work?

Binance works just like most other cryptocurrency exchanges out there: you create an account on the website using your email address and password information provided during signup. You then verify your identity by uploading some documents such as utility bills, bank statements or ID cards. You are then able to purchase various cryptocurrencies using either BTC/ETH/BNB tokens found within your personal wallet or funds deposited directly into your account via bank transfer. Once purchased, these tokens will be stored within your personal wallet until they can be used for further transactions on the platform. When making purchases on this site, you can use your Binance wallet to store your purchased crypto tokens and then transfer them to the appropriate address found within your personal wallet.

How to use Binance?

Here is our step-by-step guide on how to use Binance:

Step 1: Signing up

Go to Binance using this link and create your account to get a special bonus!

Step 2: Deposit crypto

Hover over the "Wallet" button in the top right corner and click on "Fiat and Spot" to deposit your crypto.

Binance Deposit
Binance Deposit
Binance Sign Up
Binance Sign Up

Step 3: Spot trading

After successfully depositing your crypto, hover over "Trade" in the top bar and click on "Spot". Watch their tutorial video to learn how to trade.

How to earn more with Binance?

You can go to the "Earn" tab and browse through all available earning methods such as Binance earn, savings, BNB vault, liquidity farming, Binance pool, launchpad, staking, dual investment, auto-invest, and ETH 2.0.

Conclusion

Binance is a top-notch crypto exchange that has been around for quite some time. The platform was launched in July 2017 and has managed to attract more than 10 million users in less than two years. It’s one of the largest exchanges by trade volume, which makes it an attractive option for traders looking to make money with cryptocurrency trading.

The Binance exchange features a wide range of altcoins including Bitcoin, Ethereum, Ripple, Litecoin, NEO and many others. Users can buy or sell cryptocurrencies using fiat currencies such as USDT (US dollar Tether) or BTC (Bitcoin). There are also several payment methods available on the platform including credit card payments via Visa/MasterCard and bank transfers from SEPA countries (Europe), Wire transfer from US banks and even PayPal deposits.

Binance offers zero trading fees for most coins but there are exceptions like Bitcoin Cash where Binance charges 0% fee until December 31st 2018 when they will introduce their own version of BCH called “Binance coin” which will be used exclusively on the platform with no intention to convert back into other cryptocurrencies at any point in time. The only exception is EOS where you have to pay 1% fee per transaction regardless if you use ETH or not since it is an ERC20 token based on Ethereum blockchain protocol.

Binance Spot Trading
Binance Spot Trading