The base fee for trades on Binance is % for makers and takers. You can reduce that by 25% (that is, to %) if you hold BNB on Binance. If you hold BNB, Binance uses that for your fee by default. You can turn that setting off if you wish, so it’s a good idea to check periodically to make sure it’s still on. Community. NMLS# - affcrypto.de © affcrypto.de All rights reserved. Aug 05, · Binance Fees & Limits Binance uses level based trading fee structure that is based your trading volume. The trading fee for new accounts is a flat %. However, you can receive a further .
Binance btc trading feeTrading Fees – affcrypto.de
Here, you can also your 24 hour order history. Binance allows its users to purchase cryptocurrencies such as Bitcoin, Ethereum and Litecoin using the following methods:. This is essentially a peer-to-peer market place with buyers and sellers that can be filtered to your local fiat currency, Purchased stablecoins can then be used to buy cryptocurrency on Binance exchange.
A popular way to buy crypto is using the Binance spot trading exchange which features more than crypto coins. Here, you can exchange stable coins or swap altcoins for other cryptocurrencies on the open market using the basic, classic or advanced charting platform pictured below. You will require basic knowledge of how to place orders e. To buy crypto with a credit card, follow these steps:. Binance supports an impressive list of cryptocurrency assets that can be purchased, traded and sold using the exchange.
There are well over crypto coins that can be traded against the following pairs:. To view a full list of crypto markets available to trade, we suggest you visit the Binance site. Binance uses level based trading fee structure that is based your trading volume. The trading fee for new accounts is a flat 0. However, you can receive a further reduction in trading fees by:. This is no exception with Binance that provides several channels to get in touch with the support team.
There are a number of categories to filter the question to make it easy. We have tried the ticket system ourselves and received a response 6 hours later.
This is fairly average and could be improved. Given the huge customer base, there is also going to be users with frustration and problem, so it is not surprising to see mixed reviews on Trust Pilot. However, we doubt that Binance would be in the position it is now if the customer support was terrible. We hope that you found this Binance review useful and encourage you to create an account with Binance to experience its innovative features and market-leading crypto assets to trade.
You will not be disappointed. If there are other cryptocurrency exchanges that you want us to review, leave a comment. There are several exchanges that have been hacked or had client funds stolen.
The following cryptocurrency trading exchanges — in addition to the above exchange — are well known and trusted to provide a safe and secure way for beginners and professional crypto traders to deposit fiat currency and purchase digital assets. Ayame is the founder of CryptoBlog and is passionate about blockchain technology. She has been involved with Bitcoin since after discovering it's potential as an alternative to fiat currency. She is also a trader with over 4 years of experience and is now trading crypto using various platforms.
Now, she is focussed on helping others learn about cryptocurrencies via CryptoBlog. Save my name, email, and website in this browser for the next time I comment. Home Exchange Reviews Binance. Exchange Reviews. Visit Binance. What Is Binance? To start, follow these steps: Visit the website Binance. Binance Verification Binance uses a level based verification system which determines the maximum withdrawal limits. Bitcoin Copy the unique wallet address for the selected coin Transfer crypto to the wallet address.
USDT Select the amount to buy or sell e. How To Buy Cryptocurrency With Binance Binance allows its users to purchase cryptocurrencies such as Bitcoin, Ethereum and Litecoin using the following methods: Buy crypto with a bank transfer Trade crypto using the exchange Buy crypto with a credit card. Supported Cryptocurrencies Binance supports an impressive list of cryptocurrency assets that can be purchased, traded and sold using the exchange. As an example, here's the minimum withdrawal amounts and fees for the four major cryptocurrencies that you can transfer to Coinbase :.
It's worth noting that withdrawal fees are not set in stone and are subject to change due to blockchain conditions. We highly recommend you check out Binance's full list of available cryptocurrencies and their fees to stay up to date, as they can suddenly change due to network congestion or downtime.
Thankfully, network fees associated with blockchain transfers are included in Binance's withdrawal fees, regardless of digital currency. Regardless of cryptocurrency, withdrawal fees are automatically subtracted from your withdrawal amount once you finalize the transfer.
Keep in mind that minimum withdrawal amounts can be almost as low as the fees with some digital currencies BCC and LTC, for example. With these coins, it's obviously not a good idea to withdraw the minimum amount, as the fee will eat up a significant chunk of your withdrawal.
The withdrawal fee of 0. Binance doesn't place any limits on making deposits or executing trades on its exchange, though it does have a daily limit on the amount of cryptocurrency you can withdraw. To increase your withdrawal limits even further, you'll need to contact Binance. Though you can sign in, execute trades, and make deposits on Binance, you'll have to enable two-factor authentication 2FA on your account before making withdrawals.
While users from China have the option of receiving SMS-based authentication to get into their accounts securely, US residents have to rely on Google Authenticator to stay safe from hacks. Linking your Binance account with Google Authenticator is a straightforward process — download the Google Authenticator app for iPhone or Android , enable it on Binance through your web browser and note the secret key that's provided, then add Binance to your Google Authenticator app.
If you'd like a more thorough guide on this topic, be sure to check out the following link. While transaction times are extremely fast when executing trades on Binance, transfer times for deposits and withdrawals between Binance and your personal wallets can wildly vary from coin to coin. While lesser known alt-coins like XLM and EOS have snappy transaction times that take only seconds, seasoned coins such as BTC and ETH have been known to take up to five hours or more to transfer, due in large part to the sheer number of transactions being processed on their blockchain.
Like Coinbase, Binance places sole responsibility on its users when it comes to keeping their account and other important personal information secure, as evidenced by Section 2 of their User Agreement.
This means you should use security measures such as strong passwords and two-factor authentication to keep cybercriminals out. Keeping your wallet as secure as possible can't be stressed enough, because once your bitcoins, bitcoin cash, litecoins, or ether are gone, your chances of getting them back are almost zero.
To back this up, Binance doesn't currently offer any form of insurance policy to help cover any losses due to hacks and security breaches.
In addition to the current lack of insurance to help cover individual losses due to hacks, Binance makes no mention of safeguards and security measures that it may have in place to guard against potential breaches that can result in monetary loss or identity theft.
The closest mention of any security protocols comes to us courtesy of Reddit , which is still pretty vague:. Regarding security, Binance platform is engineered from the ground up with security, efficiency, speed and scalability taken into utmost consideration.
The team has decades of combined experience building and maintaining a world class financial systems. Unfortunately, not everyone in the US can technically use Binance to buy and sell digital currencies.
Both New York and Washington states have laws that tightly regulate cryptocurrency exchanges. As a result, several popular exchanges such as Poloniex and Kraken have placed a ban on users with IP addresses that originate from these states. Despite these prohibitions, however, several users from New York and Washington state report being able to trade cryptocurrencies just fine using Binance.
This means the popular exhcange has yet to impose an IP address ban for these two states, and as long as residents stay under the radar by not verifying their residences, they should be able to continue to do so. That said, we highly recommend that you transfer all your cryptocurrency holdings to a secure, personal wallet as soon as possible if you live in either NY or WA.
Because cryptocurrency trading on a non-compliant exchange is illegal in those states, Binance might ban your IP Address at any time, which could result in losing all or part of your funds. Back in March , the IRS declared cryptocurrency as property rather than currency. This clear definition — one that made cryptocurrency akin to stocks and real estate — made bitcoins and alt-coins subject to capital gains taxes.
These taxes vary in rates, and primarily depend on how long you hold a virtual currency. In addition to this, the GOP tax reform bill has closed a loophole that previously let you freely exchange cryptocurrencies — such as buying ETH with BTC — without the fear of being taxed. This is a significant development if you trade cryptocurrencies, as all digital currency transactions can now be taxed by the government.
How individual trades will be taxed, however, remain unclear. As such, we'll update this section as a clearer picture emerges regarding this matter. With the addition of an astounding , new users in a single day , it comes as no surprise that Binance has struggled to keep pace with demand. As new users were flooding in, Binance temporarily suspended new user registration to help with server demand. While Binance has since reopened at the time of this writing, it's only on a limited basis.
So if you have trouble registering a new account, we recommend trying once a day, as the site will only let an undisclosed amount of new users in on a day to day basis until it's back to running at peak efficiency.
We'll be sure to keep you posted as congestion eases, so check back regularly to stay up to date. Bear in mind, however, that some users have reported running into some issues on Binance regarding their referral commissions, so make sure to stay on top of your earnings.
Don't hesitate to contact Binance if you encounter some discrepancies with regards to your commissions — you did earn them, after all. Get a lifetime subscription to VPN Unlimited for all your devices with a one-time purchase from the new Gadget Hacks Shop , and watch Hulu or Netflix without regional restrictions, increase security when browsing on public networks, and more.