Binance (Binance US) Review 2021

Binance (Binance US) Review 2021
Davis J.
Robertson A.
January 2021

2

Position
in rating

Trading terminals:

Proprietary platform powered by TradingView
2

Position in rating

9.5/10
Overall rating

Trading terminals:

Proprietary platform powered by TradingView

Summary of Binance Trading Company Crypto Exchange

The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit).

💰 Account currency: EUR, USD, other currencies, and cryptocurrencies
🚀 Minimum deposit: From $1
⚖️ Leverage: Up to 1:10 (for some pairs)
💱 Spread: 0.1%
🔧 Instruments: Cryptocurrencies
💹 Margin Call / Stop Out: No
Attention!

We work only with accounts opened through or linked to the Traders Union website.

👍 Advantages of trading with Binance:

  • low commissions due to liquidity and trading volumes.
  • high platform performance;
  • proprietary BNB Coin which allows Binance to reduce the commission size;
  • a proprietary cold wallet guarantees the security of your crypto assets by storing them.

👎 Disadvantages of Binance:

  • complex verification procedure;
  • margin trading is not permitted;
  • the exchange is not licensed by a regulator;
  • The platform can go offline without warning;
  • there are complaints about the technical functionality of the platform;
  • there is an intricate mechanism for calculating commissions and rewards (grid system Maker/Taker).

Overall

Binance is one of the most popular cryptocurrency exchanges with its proprietary platform based on the TradingView toolkit. It is good for diversifying risks for active cryptocurrency traders.

Visit Binance

Geographic Distribution of Binance Traders

Video Review of Binance

Binance Latest Comments for 2021

25
0
6

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Binance published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I can recommend Binance because I have been trading crypto on this platform since 2017. Frankly speaking, it was initially difficult for me. But for veteran traders, Binance will be generally interesting. There is a grid of remuneration for makers/takers, which allows you to earn extra money. The higher the trading activity, the more bonuses you’ll get from the exchange.

I have a lot of trust in the Binance crypto exchange. For a year and a half of cooperation with it, there were no problems either with trading coins or withdrawing profits. Although the company operates in the absence of regulation, it tries to honestly fulfill all agreements.
I heard on the grapevine that there are difficulties with withdrawing funds and trading limits, but that is only for unverified users. Guys, just go through this verification procedure and you will be happy. Binance must take be very conservative about its conditions on verification because of the requirements of international law and anti-money laundering policies.

I believe that the Binance cryptocurrency exchange is enjoying a lot of user confidence for a reason. Over the years that I have been trading on this platform, I have seen its proactive development. The company is trying to improve the service by adding many new features. For example, the launch of the native BNB token, which can be obtained for activity and then used to reduce commissions. I believe that this is one of the manifestations of loyalty and customer care. Anyway, there are many eye-catching goodies here to be explored and enjoyed.

I wanted to reach out to the Binance exchange back in 2017 just when the crypto market went into a “bull rally”, but then somehow I changed my mind. First, the market quickly collapsed, and second, life’s circumstances had control of me. Consequently, I returned to this topic only a couple of months ago. Binance can give a head start to other crypto exchanges. Thanks to its large trading volumes and liquidity, this company sets the lowest commissions and provides the best security.

Initially, I used Binance just for exchange transactions. Then I started to try margin/futures and somehow everything started spinning. The profit turnover increased; it became more fun to work as volumes increased. In a word, the more investments, the more earnings and, most importantly, there are no system glitches. The verification process is serious here. It's not so easy to get access to your account, you have to go through a bunch of checks, whether by SMS or by email.

In comparison with others, Binance looks stable and promising. Despite all the drawdowns in the cryptocurrency market, the exchange was on top for quite some time. And now it is gaining more momentum. The range of crypto assets that you can work with here is humongous. Besides, there is a cutting-edge platform and a lot of goodies for passive investment and earnings (take at least a native token). The referral program also worked well for me, the leads are coming and they bring a good profit.

I have been choosing a crypto exchange for a long time since most of them are short on regulation and licenses, so I have to rely on their word of honor. Binance hasn't resolved this issue either. But I was lucky that one of my pals has been cooperating with this crypto exchange for two years and spilled the beans about the current situation. I signed up a couple of months ago and have even withdrawn a profit, everything is smooth sailing for me. However, without verification, there are certain limits to the amount of each withdrawal. The functionality of this platform is off the charts, I haven't even checked all the bells and whistles yet.

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Expert Review of Binance

Binance is a novice exchange that appeared at the time of the peak growth of cryptocurrencies in 2017. Despite the subsequent drawdown, it continues to show positive financial results. The reason for its success is the unique combination of a technological platform with extra "schtick”, such as passive investment opportunities, your own tokens, etc. Binance is not only a cryptocurrency exchange, it is also a platform for creating your cryptocurrency business projects (Binance Launchpad), a business incubator, and a charitable foundation.

Binance's tools arsenal contains more than 400 cryptocurrencies, where more than 1/4 are stable coins used for conversion transactions.

A Maker/Taker reward grid is provided for active traders. It provides for the payment of extra remuneration depending on the trading activity.

In comparison with Forex brokers, the Binance functionality and capabilities are wider, therefore this exchange can be recommended for professional active cryptocurrency traders. Binance is included in the Traders Union rating of cryptocurrency exchanges due to the platform's constant improvement and the responsible fulfillment of obligations to traders.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Crypto Exchange

9.5

Overall rating

9.2

/10

Execution of orders

9.8

/10

Investment instruments

9.6

/10

Withdrawal speed

9.4

/10

Customer Support work

9.1

/10

Variety of instruments

9.9

/10

Trading platform

Dynamics of the Popularity of Binance
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets, and Products of the Crypto Exchange

Binance investment programs are integrated into the active trading functionality. If you buy/sell cryptocurrencies you will automatically get extra bonuses that can be used to reduce commissions. There are also classic investment programs based on their proprietary BNB token, which are analogous to deposits.

Maker/Taker and Lending/Staking — the heart and mechanism of investment

Maker/Taker is Binance's investment program that accumulates commission discounts based on trader activity. A “Maker” is a person who sets pending orders; a “Taker” sets market orders. A trader is assigned a level from VIP 0 to VIP 9 depending on the aggregate monthly turnover and the BNB turnover volume. The higher the level, the lower the commission for buying/selling cryptocurrency. BNB investors who bought the exchange token are given an extra 25% discount.

Examples of commissions:

  • VIP 0. Turnover less than 50 BTC per month (equivalent), Maker/Taker commission is 0.1/0.1, and 0.075/0.075 for BNB holders, respectively;

  • VIP 4. For turnover of 4.5,000-10,000 BTC or 1,000-2,000 BNB, commissions shall be: 0.07/0.09 and 0.0525/0.0675;

  • VIP 7. For turnover of 70,000 BTC or over 6,000 BNB, commissions shall be 0.04/0.06 and 0.03/0.0450.

Lending is an investment program that provides for investments in individual deposit projects or structured products. Staking means getting extra profit for storing cryptocurrency on a Binance account with blockchain. Staking also implies the ability to connect to the Binance Pool for Bitcoin mining.

Important!

If you are a large investor and plan on investments over $10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

Binance affiliate program

  • This is a classic referral program with cashback. It provides for getting up to 40% of the commission paid by the referral.

Cashback with a partner's balance of up to 500 BNB is up to 10%; with more than 500 BNB it is up to 20%.

Rebate and Discount Programs of the Traders Union for Binance

You may reduce trading costs in cryptocurrency trading with a partial commission compensation from the Traders Union rebate service. Register for free on the Traders Union website. There, you can open active accounts on Binance using TU’s affiliate link, and save on commission costs.

Information

Binance pays 20% of the commission to the Traders Union for each transaction completed. TU then pays its clients (the traders) 80% of this amount.

Example. You trade on the Binance platform and pay the company a standard commission of $20 for each trade you open. In turn, Binance returns 20% of this commission to the Traders Union, and the client (you) gets 80% of this amount from the Traders Union: 20x0.2x0.8 = $3.2. This is the amount of compensation the trader would get from the Traders Union.

Try it!  Try it!

Trading Conditions for Binance Users

Binance offers some of the lowest fees in the cryptocurrency market due to its high liquidity. Nevertheless, the trading terms should be classified as mid-market.

$1

Minimum
deposit

1:10

Leverage

24/7

Support

Proprietary platform powered by TradingView
💻 Trading platform: Proprietary platform powered by TradingView
📊 Accounts: Demo, standard, P2P platform
💰 Account currency: EUR, USD, other currencies, and cryptocurrencies
💵 Replenishment/Withdrawal: Bankcard, credit cards, P2P cryptocurrency exchange, third-party services
🚀 Minimum deposit: From $1
⚖️ Leverage: Up to 1:10 (for some pairs)
💼 PAMM-accounts: No
📈️ Min Order: From 0
💱 Spread: 0.1%
🔧 Instruments: Cryptocurrencies
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: Limit order, Market order
⭐ Trading features: Investment program available
🎁 Contests and bonuses: Periodically

Binance Commissions & Fees

Information

The Traders Union experts analyzed the Binance exchange’s trading terms for the difference in commissions. Exchange commissions depend on the following parameters: the trader's activity (trading turnover per month), the volume of the traders’ investments in the BNB exchange token, on the asset type. There is a withdrawal fee the size of which depends on the name of the cryptocurrency.

Account type Spread (minimum value) Withdrawal commission
Standard from $6 Yes

A comparative analysis of Binance commissions with similar values to other cryptocurrency exchanges was also carried out. The below ranking was made based on this analysis.

Broker Average commission Level
Binance $6 Medium
ByBit $20 High
Bitfinex $0.1 Low
Binance
$6
ByBit
$20
Bitfinex
$0.1
Conclusion

Binance offers relatively low commissions, subject to fairly high monthly BNB investment turnovers. You can reduce expenditures with a rebate from the Traders Union.

Contacts

Official site

Tags:

binance us binance com binance binance review binance.com

The Oldest Reviews of this Crypto Exchange

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Binance published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I’ve been working through the exchange since the moment when the ico was held, that is, a long time ago. The liquidity is good and there were no problems with payments. I’ve been trading for a year with no hacker attacks. Everything is perfectly protected by specialists. I am sure that Binance is the future.

I was waiting until the withdrawal amount of $700 was on the account. I got another verification. I survived it, too, as they did not ask for anything new, rather it is just a precautionary measure. I received the money in a day, in full, so I consider the Binance broker one of the best in the cryptocurrency market

I connect to Binance and get extra authorization by SMS and mail. It takes more time, but you don’t have to be afraid that you will be hacked by some scoundrels, like in LiveCoin.

Without a shadow of a doubt, you can trust the Binance platform. The crypto exchange is the epitome of success and I can’t recall how many years this top-notch company has been in the limelight. I registered on this platform on the recommendation of a friend back in 2016, it was a stellar platform back then.
Binance is my cup of tea because of its huge trading volume and liquidity, besides it has pretty low fees. Sheesh, it was a mammoth task to figure out that scheme for calculating remuneration and commissions on the grid system. I barely learned the ropes.

I've been trading on the Binance crypto exchange for over five years, and I'm one happy camper. First and foremost, I am dead confident in the safety of my assets because the company has perfected its cold wallet. Plus, there are loads of goodies for traders that I have not seen on any other crypto platform. Just look at BNB, the exchange's native token, which can be used to reduce commission costs.

Yeah, everything is OK! The most adequate crypto exchange. I’ve been here for several years now, and I never even think about changing my broker. I recommend it to everyone.

Based of my experience, there are no problems with withdrawing funds. You just need to be verified. Personally, this procedure put me in the anxious seat. You need to provide a whole bunch of documents and meet many requirements. The crypto exchange is conservative in this regard and can be nitpicky.
There can be no complaints about the trading process itself, and the liquidity allows you to earn a pretty penny. In February, I earned $5,000 on Bitcoin and $7,000 in March.

Author of this Review

Binance broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the Binance rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Binance you need to go to the broker's profile.

How to leave a review about Binance on the Traders Union website?

To leave a review about Binance, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about Binance on a non-Traders Union client?

Anyone can leave feedback about Binance on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with Binance through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.

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