GUIDE FOR BEGINNERS: BINANCE EXCHANGE

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BINANCE EXCHANGE

Binance is a crypto to crypto exchange with a focus on low trading fees. By being a purely cryptocurrency exchange and not having to deal with fiat, they can deal with less regulatory issues. It also has an impressive listing of Initial Coin Offerings and altcoins. Binance is based in Hong Kong and it’s servers are located in South Korea. Their main site offers support in English, Chinese, Korean, Japanese, Russian, Spanish and French. This allows them to focus on the international market and has led to a partnership with QUOINE, a leading global fintech firm.

Fee comparison with other exchanges (taker fees)

Binance 0.1% https://support.binance.com/hc/en-us/articles/115000429332
Kucoin 0.1%
Bittrex 0.25% https://bittrex.com/fees
GDAX 0.25% https://www.gdax.com/fees
CEX.io 0.25% https://cex.io/fee-schedule
Kraken 0.26% https://www.kraken.com/help/fees
Poloniex 0.25%

Binance also has the additional benefit of using their BNB token to pay for exchange fees. Using the token currently grants a 50% discount rate, meaning that fees can be as low as 0.05%

Binance ICO:
The Binance Exchanged was financed through an ICO that was held on the 14th of July 2017. A total of 15 Million USD dollars were raised during the event

Binance Token:
Binance tokens were issued to project supporters. The token has 3 major features:

Exchange Fees: Binance tokens can be used to reduce fees for trade costs and commissions. Currently, Binance has a 0.1% trade fee and 50% of the fee can be paid in terms of Binance tokens.
GAS: Binance will eventually feature advanced features that require GAS. BNB tokens can be used as GAS to power these advanced features.
Staking: Binance eventual want to develop a decentralized exchanged. The BNB tokens will eventually be used on this exchange to stake transactions.

Features of Binance

-High performance: capable of processing 1.4 mil orders/second
-Multi-language support: English, Chinese, Korean, Japanese
-Good support team: Binance support is reachable (rare in crypto space)
-All major coins available: BTC, ETH, LTC, BNB etc.
-Low trading fee: Only 0.1% trading fee
-Early support for Bitcoin Forks: Bitcoin Gold, Bitcoin Diamond were all listed on Binance
-GAS distribution for NEO: storing NEO on binance yields GAS too.

If you liked the post and do not have an account in Binance, you can register using my referal code here --> https://www.binance.com/?ref=10079193

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[SeksiStarlord]

Yeah but the thing is that as far as I know, binance closed the registration for new accounts today. They are overhelmed like bittrex because so many new people are joining crypto. This is a great sign but I really hope they will open their registration process soon for new people becuase my sister could not make an account anymore today

[rayyan rafi]

Yeah but the thing is that as far as I know, binance closed the registration for new accounts today. They are overhelmed like bittrex because so many new people are joining crypto. This is a great sign but I really hope they will open their registration process soon for new people becuase my sister could not make an account anymore today

You can sign up here https://launchpad.binance.com/register.html?ref=11012333

thank you info, but i still difficult to register

[BTC-BTC-BTC]

Yeah but the thing is that as far as I know, binance closed the registration for new accounts today. They are overhelmed like bittrex because so many new people are joining crypto. This is a great sign but I really hope they will open their registration process soon for new people becuase my sister could not make an account anymore today

You can sign up here https://launchpad.binance.com/register.html?ref=11012333

thank you info, but i still difficult to register

They suspended new registration. There is no update on when they will resume accepting for new users.

[tekno]

binance exchange pages freezes my computer. i tried opera FF chrome both of them cleared cookies created new profile but its not solved. it has good opportunities on some coins but really it makes me crazy

[goldexp83]

Thanks for sharing, I love Binance, great service and interface and community challenges every week!

I didnt know it was raised from an ICO!?!? jeez I wish I invested and bought loads of BNB!!! anybody invested at the time???

[sanjunipero]

binance's easy to use interface is my favorite feature. i beliave it will be the biggest crypto market very soon. when i joined binance, bnb was about 2.5$. and sooner than 1 mounth it is 20$ now. it is quite possibbe that it will rise regulary. thank you for the introduction.

[pacifista]

I love binance cause they are fast in processing withdrawals and deposits, you wont get any problem trading on thier platform the only thing that is not as of now is they disabled the registration, my relatives cant join  and cant trade their tokens.

[cryptoblazter]

Well in a span short period of time Binance was rapidly explode as an exchange in this industry, where most traders accepted it aggressively, were right now its hard to register to those are not signing up yet. But need to wait until they give a signal for the newbie to fill the registration.

[khufuking]

I am glad that I did register couple of days ago and I got myself verified there , Binance have reall good IU and I really like it , It gives me some change from same every day Bittrex IU , I love trading there , They also have really good volume comparing to a lot older sites and they have good coins and tokens collection . This exchange became my second one after Bittrex at the moment . 

[h0lybyte]

Binance is really good trading platform among all other major exchanges, i feel pleasure while trading on binance because it chargess lower fee and doesn't ask for documents for little amouns. They also have well designed user friendly android app for smartphone users. Currently they are overloaded with daily crowd of new members but i hope they will open registrations soon for new comers

[SaoAccel]

I feel safer using Binance than using other exchanges. Binance user's interface is alluring and friendly and you can also put more security option in it. The fee is also friendly to us traders. So overall it's a good exchange

[DrewXland]

Hey great start to explaining Binance. On my blog, I have broken down the steps a bit further in a super simple way to follow. So if you are interested in a easy to follow guide to Binance, then check my post out  https://www.cryptocoindude.com/binance-explained/.