Binance is the world’s largest exchange for cryptocurrency coins.
Started back in 2017, they were a quick rising star because they managed to understand what the crypto community needed:
Safety: they have SAFU insurance fund that in case of a hack to their exchange, the funds of the users are insured and will be returned in case of something goes wrong.
User Friendly: Their website is very easy to understand with constant updates and impressive app for both Android and Apple users.
Saving Accounts: Binance offers various financial tools that let you earn interest when depositing your coins to them and earn X% for that. If you follow carefully you get 10% or more per year on their selected coins, even USDT.
Open line with the community: Binance are very active on the social networks, for every incident, event, good things and bad things, they will tweet, share and leave you with no doubt about their actions. That alone, makes everybody feel more safe when storing their funds at their exchange.
It’s worth to mention, Binance acquired Coinmarketcap.com (for 400$ million) and own TrustWallet, making them almost a monopol at the crypto space, controlling the most popular websites and applications. What can go wrong with that? 🙂
How to open Binance account and get 20$ bonus and 30% discount in fees?
- Create account. Head over to the Binance main web page and register with an e-mail address and a password. Remember to use common sense when choosing a password; make sure it’s long enough and alphanumeric, including both upper and lower case letters and numbers. It is also advisable to set up two-factor authentication (2-FA) as an additional security measure, installing Google Authenticator on one’s phone for the purpose. This makes it so that each time you log in or perform any operation (such as to request withdrawal of funds), you will need to enter a unique number sent to you on your phone to confirm it is you.
- Confirm your personal details. Undergoing a simple Binance Know-Your-Customer (KYC) process is also required, which includes providing a full name, home address and country of residence, and date of birth upon which one gets redirected to a third-party verification and KYC services provider (NetVerify) where to complete the process one must upload a copy of a government-issued ID (which can be an ID card, a passport or a driver’s license). Know-your-client and anti-money-laundering procedures are crucial for obtaining regulatory approval to launch and operate as a legitimate and trustworthy exchange in most jurisdictions worldwide (with a few notable exceptions that provide precisely the opposite of that tending to be tax evasion havens and/or cybercriminal hubs). Check our in-depth step-by-step Binance Know-Your-Customer (KYC) guide for more details.
- Add funds. Fiat deposits via bank accounts [On March 7, Binance and Paysafe announced the complete reopening of EUR and GBP deposits and withdrawals through the SEPA payment network (SEPA) and Faster Payment Services (FPS), respectively, for both desktop and mobile] and/or credit/debit cards are supported in a select number of countries; otherwise, one ought to first purchase Bitcoin or Ethereum elsewhere (most commonly Coinbase) and then deposit them to their Binance wallet address for that particular asset. Once one makes a deposit (usually confirmed in no more than 20 minutes), one can start trading.
- Start trading and investing. Go to the ‘Exchange’ button at the top of the screen and choose between the ‘Basic’ or ‘Advanced’ trading platform interface. If you are just starting and don’t have any previous experience trading, the first option gives a quick view of the market trading pairs and it is recommended before jumping to the more advanced one.