Trading has been around for many years. The stock market is familiar to many of us as it usually determines the financial wellbeing of many societies or countries. However, with the advent of technology that has gone online, and the systems in place make it more accessible for many to trade stocks. This process has been further enhanced in recent years because now there has been quite a few cryptocurrencies exchange that is coming on stream; professional traders have had to keep up to date on these new tools showcasing themselves on the digital assets market.
One such is Binance exchange. It has some features to make your experience that much better in digital trading assets, like the Binance app. Though the features are one, which even a novice can handle. It comes with several multifaceted trading operations also. Continue reing cryptocurrency exchange out of China. It provides its users with quite a cading as we provide a Binance exchange review, giving you all the relevant details about this system and the Binance app.
What Is Binance
Binance app for Android & iOS is a fast-movomprehensive compilation of trading tools online and on the binance app, which includes features for security and reporting. It was designed by qualified professionals that have years of experience in trading and cryptocurrency; those names include OKCoin’s Chief Technical Officer, Changpeng Zhao.
From the time when they launched in July 2017, it has been successfully trading. You will find that this software will become one of your trusting apps on iPhone. Since their apprelease, many users have been benefiting from their super low fees for trading and quick execution of transactions. Many who provide a review of the Binance app for Android & iOS are pleased by these features, especially as they can conduct more than a million orders per second.
It is a great platform for both professional and first-time traders. Even if you are a newbie or a student who want to plunge into trading and cryptocurrencies, you can use essay writing service, so you will save time for other activities. Binance app for Android & iOS interface can be customized for both types of users. Its Android app updates are smooth, and you benefit from new features like multiple languages; including Japanese, Korean, English, and Chinese. As well as it is supported on some platforms, including Web, iOS, HTML5 and PC Client.
Cryptocurrencies on Binance
There are quite a few cryptocurrencies that are traded on Binance APP for Android & iOS, which are paired with Bitcoin, Ethereum, and Tether. The listing includes OmiseGo, Neo, EOS, Ark, Ethereum Classic, Dash, IOTA, Bitcoin Gold and other alternatives to Bitcoin.
Binance Fee Structure
Even though there are fees for using this cryptocurrencies exchange, there are some services that are free, including accessing it online via the Binance app, setting up an account as well as depositing, via any number of accounts. The fees are competitive in comparison to other systems. To start, they have a 0.1% fee for every trade that you make. This is absolutely one of the lowest fees structures out there.
While you are using this exchange service, you can also use their tokens, BNB. Some systems have this feature, and you will be surprised to know that your trading fee will be reduced by fifty percent if you make use of the BNB token. However, this offer gradually declines by 50% each year. The lowest it goes is 0.05%.
- LTC Withdrawals: 0.001 LTC
- ETH Withdrawals: 0.005 ETH
- QTUM Withdrawals: 0.1 QTUM
- NEO Withdrawals: Free
- EOS Withdrawals: 0.1 EOS
- SNT Withdrawals: 1 SNT
- BTM Withdrawals: 1 BTM
- GAS Withdrawals: Free
- BTC Withdrawals: 0.0005 BTC
- BNB Withdrawals: 1 BNB
Unfortunately, they do not allow you to buy Bitcoins with Binance; neither will you be able to access fiat/crypto trades. If you have any such currencies like US, Euro, etc. you will have to use other platforms for fiat/cryptocurrency pairings.
Binance Trading and Registration Process
While you are required to have an account to perform trading activities, do note that this is not required if you only wish to review the markets. Like any application or online system, they provide a sequential outline on how to register on their system.
On the front page, choose the ‘register’ option. Then fill in any required information. The system will have you verify your email address and then activate your account. After confirmation, you will use the email and password that was entered previously to gain access. For security purposes, it is good practice to ensure that your URL has the ‘https’ handle so that you do not fall prey to any phishing or illegal hacker practices.
After registration, you will want to top up your account with a deposit. Select the “Deposits/Withdrawals” option below the “Funds” tab. Then you will be taken to a page that displays a listing with the cryptocurrencies available on the system. Make your selection of choice. For those who prefer Bitcoin, it is usually at the top of the list. Then click on Deposit.
There is a deposit address on Binance app for Android & iOS after you choose any of the currencies; that is where your funds will be placed. Users usually have the option of selecting the alphanumeric code or the QR code. This address allows you to go to any third party wallet, even another cryptocurrency exchange system and divert your deposit to the address.
After confirmation of this transaction, within a few minutes, you will see that the transfer is completed. Your balance will then be increased. Any transactions that are being processed will appear under “In Order” tab.
Once that step is completed, you will be able to start trading on Binance. To do this, you will need to redirect to where you can do your trades. To move on, you have the option of choosing the “Basic” or “Advanced” underneath the “Exchange.” This option is located at the top left-hand area. If you are a novice to the system, and/or just starting out in trading, it is advised that you first become familiar using the “Basic” interface, which will be more manageable.
As mentioned previously, you will not incur any costs for depositing funds. However, please note that the system only allows you to use cryptocurrency funds, of any amount that you wish. On the reverse, there are limitations on withdrawals, which are regulated by the user’s verification tier. If your account is not verified, you are limited to 2 BTC on any day. This is at the level 1 tier.
To access level 2, you must use Google Authenticator or enhanced two-factor (2FA) security features. Again, unfortunately, the system only utilizes phone numbers from China.
In addition, you must register using correct bio data, which includes any of the following: pictures with your passport, passport size picture, your gender, country of residence and of course your correct first and last name. After these details are entered, and you are verified, you will be able to withdraw 100 BTC.
Binance App and Web
If you are interested in digital market assets, then this is a great way to be introduced to the market. For those who prefer to a browser-based access, you can visit their website and access the platform there. Follow the instructions to create a new account, and then you will be able to start trading.
Mobile device users are not left out. The application can be accessed via the Google Play or iOS store. You can update application on Android or iPhone devices, with little effort. Those users residing in China will be able to access the WeChat features as well.
Apart from already supporting 100 cryptocurrencies, professional traders will be excited to know that the application has great plans to improve the Binance app in the future. They have itemized a few features, which will be launched in the near future including spot and margin trading, as well as anonymous instant and decentralized exchanges.
Security is always a top concern when it comes to using the internet and especially trading. Well, you can rest assured that the designers of the Binance APP for Android & iOS have incorporated security protocols like ISO/ICO_27001:2013 and CCSS. You also have the option of using 2fa or Google authenticator, as well. Privacy features are incorporated too further protects your identity. Visit their webpage and review the policy documents for detailed information.
Binance has many great features that make it incomparable to others. This includes the variety of coins which can be traded and its reasonable fee structure. Its reliable processing speed makes doing large amounts of transactions easy. More and more people in the blockchain community are becoming familiar with the application, and it ranks at number 17. The only drawback is that the system is relatively new, which will change as time progresses. Once it has established its reputation, this cryptocurrencies exchange will be among the top-ranked options on the digital assets market.