What is Binance?
Binance Overview. Key Features and Reputation
Year Founded
2017
Headquarters
Locations vary, not centralized
Regulatory Status
Complex and evolving, operates in restricted forms in some jurisdictions
Suitable For
Intermediate to experienced traders, those seeking extensive coin variety
Binance stands as the world’s largest cryptocurrency exchange by trading volume. It’s known for its massive selection of coins, deep liquidity, extensive features, and a focus on innovation. While Binance’s sheer scale and advanced offerings might feel overwhelming for beginners, experienced traders seeking a robust platform for managing their crypto portfolio often find immense value within its ecosystem.
Supported Cryptocurrencies
Altcoins: One of the broadest selections available, including small-cap, newly launched projects, and Binance Chain tokens.
Fiat Support
Multiple currencies (USD, EUR, GBP, AUD, CAD, etc.), deposit/withdrawal methods vary by region.
Trading Tools
Interface types: Basic, advanced, and Binance Pro cater to different skill levels.
Order Types: Market, limit, stop-loss, OCO, trailing stop-loss, and various advanced options.
Additional Features
Staking, Binance Earn (yield products), Binance NFT marketplace, margin trading, futures, lending, Binance Visa Card.
Binance Fees & Security
Fee Structure
Trading fees: Maker/taker model, discounts available with trading volume or BNB (Binance Coin) holdings.
Deposit/Withdrawal fees: Vary depending on the asset (crypto or fiat) and the method used.
Security
Security measures: 2FA, cold storage, address whitelisting, insurance funds (SAFU).
History: Faced significant hacks in the past but has since bolstered security practices.
Binance Customer Support
Channels
Ticket system, extensive FAQ, active community forums, social media.
Availability & Responsiveness
Can be inconsistent, live chat availability isn't guaranteed.
Should You Consider Binance for Your Crypto Needs?
Binance presents a compelling option if you prioritize the following aspects within your crypto strategy:
Massive asset selection
Ideal for building a diverse portfolio with exposure to both established and emerging coins.
Advanced trading tools
Extensive features cater to users with experience executing complex strategies.
Innovation
Binance regularly introduces new products and services, appealing to those seeking cutting-edge opportunities.
Consider regulatory concerns
Thoroughly research Binance’s status in your jurisdiction before utilizing its services.
How to track Binance assets?
Monitor and capitalize all your Binance assets with auto-synced data about coin prices, NFT floor prices, advanced analytics and custom asset based opportunities.
Easy guide to track and capitalize all your Binance assets
From the account drop-down, select [Account]
From the account. & settings menu, select [API Management]
Follow the provided instructions and check the security steps
After checking through the security steps, name your new API
Select the API Key type and hit next
Make sure [Enable Reading] is active and copy the Public and Secret Key of your new API
Use the Hodlezz mobile app to get more out of your CEX assets
Open the Hodlezz mobile app and create a portfolio
Select the settings icon in your portfolio
Select [Add connector] from the menu
Select [Binance] to sync all your Binance assets
Choose a name for your connector and insert your public and secret key of your Read-only API
Start tracking all your crypto assets now
Experience seamless management of your digital assets with Hodlezz: the premier app for real-time tracking and analytics of your cryptocurrencies and NFTs.