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imageBinance Review 2023.
Binance is one of the leading online crypto exchanges offering Bitcoin.
Risk Warning – Your capital is at risk.
Binance is a leading cryptocurrency exchange that offers trading on the likes of Bitcoin. Our review looks at the login procedure, fees, API offering, and why can't i copy trade on etoro its decentralised exchange service (DEX). We’ll also unpack the range of Binance markets, from crypto futures and options to leveraged tokens.
What Is Binance?
Customers buy, sell and manage crypto assets for investment on the Binance exchange. The secure online platform offers multiple crypto trading products while holding licenses with several regulatory agencies. The firm has an average daily trading volume of over $2 billion and its owner – Changpeng Zhao, has a personal net worth of more than $2 billion.
Access.
The company’s services are available in many jurisdictions including in the UK, Uganda, Nigeria, and the US. Binance Europe Services Limited is based in Malta and serves as the organisation’s headquarters.
Binance Markets Limited is the trading name of the UK operation which follows regulations from the Financial Conduct Authority (FCA) and has an office address in London. Potential UK customers should note that individuals dealing in crypto assets may be subject to income and capital gains tax.
The firm recently announced the closure of its local branch, Binance Jersey (Binance.je), as its services are now available with the global entity. Customers with this branch should sign in with their login credentials to withdraw any funds from their accounts before the website is shutdown.
Markets & Derivatives.
The spot offering encompasses the following markets, which amounts to over 150 different coins:
BTC – Bitcoin ETFs – All traded against Tether, USDT Alts – Cryptocurrencies other than Bitcoin BNB – Binance coin, the firm’s own cryptocurrency Fiat – Government-backed currencies such as the Euro.
The spot market also includes leveraged tokens. These instruments represent a number of perpetual contract positions, crypto copy traders with variable leverage between 1:1.25 and 1:4.
Binance trading markets.
The futures markets available are:
USDT-margined – perpetual futures, e.g. XRP/USDT USD Coin-margined – perpetual and quarterly futures, e.g. BTCUSD Quaterly1225.
The firm also offers options, which follows the Binance Futures BTCUSDT perpetual contract asset.
Clients can navigate the cryptocurrencies offered using the Zones group. This listing contains all currencies offered by the firm, including Monero, Neo, and XRP. Quant and Nano do not appear to be available at Binance, however new coins/crypto listings are announced regularly. The Zones group also contains the Innovation Zone, which allows customers to trade new and potentially higher risk tokens, and DeFi (decentralised finance) listings like Sushi Swap.
Trading.
Customers can improve their strategies by using historical trading data on futures, which is available upon application. Clients should also be aware of the funding rate for futures, which is determined using the premium (the variation between a perpetual contract price and its mark price) and the interest rate. The concept of open interest, which quantifies the number of open positions held by clients, may also be of use to new traders as it can convey market sentiment.
Binance trading charts.
Binance maintains an insurance fund for futures which pools the collateral from trader fees to cover bankrupt clients’ positions. It also runs a Futures Leaderboard, which displays the performance of the top 500 traders based on daily ROI.
Binance futures leaderboard.
Binance offers five ways to trade crypto assets unlike many traditional brokers:
Convert & OTC Desk.
As the most basic trading method, the ‘Convert’ feature enables clients to convert one coin type into another, based on a real-time exchange rate. The website also recently added an over-the-counter (OTC) trading desk, which allows users to exchange larger quantities of cryptocurrencies in one transaction with settlement directly into a chosen Binance account.
Classic & Advanced.
These trading interfaces give users access to data that will inform their order strategy. The Classic platform contains less technical information and may be more suited to beginners, whereas the Advanced view includes a wealth of market data and price charts.
Binance Bitcoin chart.
Margin.
Clients can trade with up to 1:125 leverage. Customers can calculate initial margin, profit, and loss using the P&L (or PnL) analysis tab provided on the Futures calculator. Traders may also use the Isolated Margin mode, a feature that allocates only a percentage of the users’ total margin balance to a single position to modulate risk.
P2P.
Binance offers a supporting escrow service for its fee-free peer-to-peer (P2P) trading market. Traders place orders to buy or sell crypto in local currency, and the exchange holds the asset until payment has been delivered and both parties finalise the deal.
A wide range of payment methods are available on this platform, including PayPal and Western Union.
Order Information.
Binance offers several order types: limit order, stop-limit order, market order, stop-market order, and trailing-stop order. Limit orders are placed on the order book and are not executed until the limit price is reached. Customers can view up to three months of trade one crypto for another (https://crypto.copy-trade.fun/) history using the Orders tab.
Binance order book.
Finance.
Binance Earn.
This set of financial products is similar to a savings account and is not related to trading. It includes products like Flexible Savings, where customers can earn interest on deposited funds, and Dual Savings, in which clients can get greater returns if the value of funds increases over time.
Binance offers staking, which entails keeping cryptocurrency (specifically Proof of Stake coins) in the appropriate wallet for a certain period of time to gain rewards. The firm recently added Ethereum 2.0 staking to its portfolio and supports yield farming.
The company also hosts Launchpool, which allows clients to farm new token rewards in exchange for tokens like BNB.
Other Financial Services.
Binance Pool – Supplies mining services, with an emphasis on Proof of Work and Proof of Stake Binance Visa Card – Available to customers in select countries, including the UK, and works similarly to a debit card but utilising crypto funds Crypto Loans – Clients can apply for loans using their crypto assets as collateral, with loan terms from 7 to 90 days Liquid Swap – A liquidity pool that traders can either contribute to or use to swap two tokens/fiat assets.
Binance Fees.
A client’s 30-day exchange trading volume and BNB balance determine their VIP level. Fees are reduced as the VIP level increases, and begin at a maximum of 0.1%. Fees are generally lower for "maker" trades (those that are placed on the order book) than "taker" trades. The company offers a discount when clients pay using BNB, which is currently 25% off trading fees and 10% off USDT-margined futures, but the rate varies.
Other fees include:
Margin fees – The daily interest rate for margin borrowing also reduces with VIP level and copy trade crypto terbaik varies widely between currencies. Futures fees – USDT-margined futures fees start from 0.04% and reach 0% for clients executing maker trades at VIP level 9. Quarterly and perpetual USD coin-margined futures also start at 0.04% but VIP level 5-9 clients enjoy a negative interest rate on maker trades.
Note with the referral program, clients who invite friends using their referral code can get rewards from completed trades in the form of commission or ‘kickback’.
Deposits & Withdrawals.
Binance offers an extensive range of coins/tokens for deposit and withdrawal, including GBP, BTC, and XRP.

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