• Some features are restricted in certain countries. Due to regulatory issues, some features offered by Binance are limited in certain countries. For example, Binance.US offers fewer assets than the global Binance platform and lacks interest-earning and staking products.
• Past security concerns. Although Binance is generally considered a safe exchange, it has faced security issues in the past. While all users affected by the past hack were made whole, it's worth keeping in mind. There's also plenty of FUD on social media concerning its solvency.

Binance is a cryptocurrency exchange founded in July 2017 after a successful ICO that raised $15 million. The exchange has attracted over 90 million users to date in multiple countries worldwide. It is often applauded in exchange reviews and social media as the best crypto trading platform which is evident by its large user base.

Binance, owned by Changpeng Zhao (CZ), is licensed in multiple jurisdictions by authoritative bodies, including the AUSTRAC, DASP, and FSP. However, certain regulators like the UK's FCA have limited the services Binance can offer in some regions. Each exchange under the Binance name is independently operated and fully compliant with the country's local regulations and laws. Most Binance platforms provide a fiat-to-crypto exchange for individuals to buy or sell Bitcoins for cash.

Binance is designed for everyone, regardless of experience. The exchange offers many markets and features, so customers can choose which products to utilize. By taking this approach, Binance has ensured its highly accessible for new traders while allowing users to progress through the available features as they build confidence and gain experience.

For example, the easiest way to exchange crypto for another digital currency is using 'Binance Convert.' This enables users to buy exchange assets without using a price chart and order entry window, which can be overwhelming for beginners. Binance Convert supports most listed coins and is a fast way to swap cryptocurrencies.

Binance offers some of the most popular crypto trading bots that users can utilize to streamline their workflow and automate the trading process. The bots offered include:

• Grid trading bot. Grid trading is a popular strategy that involves using a trading bot to buy and sell crypto within a specific price range automatically. While this method can require technical know-how, as users must input a price range and the number of grids to trade, Binance offers an automated strategy that massively simplifies the process.
• Rebalancing bot. Binance has built a bot that can automatically rebalance a user's portfolio to the assets contained within it to a specific weighting. Furthermore, Binance offers pre-built portfolios on sectors like the Metaverse or Proof-of-Stake (PoS) tokens for users who don't want to set up the bot manually.
• TWAP bot. Time-Weighted Average Price (TWAP) positions are designed to execute an order algorithmically over a set period to achieve an average buy/sell price. Typically TWAP strategies are utilized by high-capital traders not wishing to impact the price of an asset when completing a large transaction.

Binance has its peer-to-peer trading (P2P) marketplace that enables its users to trade between themselves with a greater variety of deposit methods and currencies (and no fees). There is an escrow service to keep funds safe until the transaction completes for those that want to go down this path.

Although fewer assets are supported for P2P trading compared to the actual exchange, the greater range of payment methods and reduced costs will likely appeal to international customers wishing to trade with a particular fiat currency or a payment method. Given the recent closure of competitors Paxful and LocalBitcoins, the Binance P2P platform is one of the bigger P2P exchanges to use.

Dollar-cost-averaging (DCA) is considered one of the best crypto investment methods for retail investors. Binance has created a system enabling users to purchase crypto at predetermined intervals automatically. Customers can choose between daily, weekly, biweekly, and monthly purchases, and Binance will complete the purchase using a linked payment method. This feature will be highly suitable for beginners that don't want to actively use a crypto day trading platform.

Binance is well-known for its cutting-edge trading platform to trade digital currencies with a full range of trading tools, indicators, and charting options. Powered by TradingView, traders will be well-equipped to analyze historical and live price action. Seasoned traders will appreciate the crisp, streamlined, and highly responsive charts on desktop and mobile.

The extensive assortment of tools at their disposal is enviable, including drawing trend lines, adding indicators, and charting patterns to perfectly time a trade. In short, Binance is one of the best places for technical analysis traders. On the flip side, it can be overwhelming for beginners.

Binance is one of the best crypto leverage trading platforms and offers margin, cryptocurrency options, and futures contract trading with up to 125x leverage. As such, experienced traders can open sizable positions with minimal capital requirements, making the platform excellent for utilizing strategies like scalping, which take advantage of small price movements.

A benefit of using Binance is the ability to short-sell, enabling users to earn profits even when prices are dropping. For more information, read our article on how to short on Binance.

Options trading is popular in traditional markets and is quickly growing more common in crypto. It enables traders to speculate on movements in price without buying an asset directly by purchasing fixed-term contracts entitling the holder to buy assets for a predetermined price once the contract expires.

Binance offers three assets for crypto options trading; BTC/USDT, ETH/USDT, and BNB/USDT. These contracts have expiry dates ranging from 24 hours to just under a year, meaning traders have plenty of options despite the limited range of supported cryptocurrencies.

Binance has a testnet that can be loaded with 3,000 USDT of virtual trading funds. It's an exact replica of the Binance trading platform with access to all the trading tools making it a good way to learn how to trade crypto. While it's more complicated and involved to set up, newer crypto traders can experiment with futures trading up to 125x leverage without risking their capital. Complete beginners may prefer a traditional crypto demo account with live pricing.

Binance has introduced a cryptocurrency debit card that allows users to convert and spend digital currencies like a traditional debit card. The Binance VISA card can be used with more than 60 million merchants worldwide. The benefits of using a Binance debit card include the following:

• The card is free to use with zero Binance administrative or processing fees
• Earn up to 8% crypto cashback on purchases using the VISA card
• Easy to transfer and top up funds using a Binance wallet
• Funds on the card are protected by a high standard of security

The amount of cashback rewards that users can earn with the Binance VISA debit card depends on the amount of BNB coins locked in a Binance wallet. Beginners that order the card can earn 0.1% cash back rewards for free without staking any BNB.

However, to earn the maximum cashback bonus on purchases of 8%, users will need to stake at least 600 BNB tokens, equivalent to $191,976 at current prices., which is a considerable investment to obtain an 8% cashback.

Binance offers one of the best staking platforms for crypto with fixed staking terms for 10, 14, 15, 30, 60, 90, and 120-day periods to earn rewards up to 115.6% APY. The exchange supports 346 cryptocurrencies, including BTC, ETH, USDT, and XRP, that can be staked on the platform using a fixed-term or flexible arrangement.

Binance offers several yield-generating products, including protected staking, liquidity farming, and dual investments. While each product is similar, they vary in risk and potential yield. For example, protected staking lets users earn consistent rewards, liquidity farming pays users in specific cryptos, and dual investments are riskier but offer a greater APR.

Binance also supports staking Ethereum 2.0, which lets users 3.6% to 4.5% APY returns. The one-click ETH 2.0 staking has a minimum requirement of 0.1ETH to begin. However, the ETH cannot be withdrawn until the network's Shanghai Upgrade. Fixed staking will suit those comfortable locking in their coins for a set period to accrue rewards. However, flexible staking will appeal to customers not wishing to be locked into any contract.

Because Binance Earn supports such an extensive range of cryptocurrencies across many terms and provides several ways to earn interest on crypto, the platform is ideal for anyone looking to earn rewards across multiple assets on a central hub.

Binance has entered the decentralized financial loaning and borrowing space with its crypto-lending platform. Traders on the platform can use their digital currency assets as collateral to obtain an instant cash loan or lend out their holdings to earn interest. Any user on the Binance platform is eligible to obtain a crypto-backed loan.

Creating an account with Binance is easy and only requires an email and password. However, customers wishing to trade on Binance must complete Know-Your-Customer (KYC) verification by providing a photo ID, proof of address, and a selfie. Furthermore, the Binance withdrawal process will be rejected when attempting to withdraw more than the account's limit.

While level one verification enables the user to access every Binance feature and provides a $2 million daily fiat limit, customers can complete Plus verification to attain unlimited fiat support. The Binance verification speed varies based on demand but typically completes within a few minutes to around 4 hours.

Binance is a popular trading platform due to its availability worldwide, support for multiple fiat currencies, and range of methods for transferring funds to an account. Users can buy crypto with 27 fiat currencies, including USD (only available on Binance.US), GBP, EUR, and AUD via bank transfers, credit/debit cards, SEPA, wire transfers, and cash deposits.

Additionally, Binance supports cryptocurrency deposits for every tradable asset and enables users to deposit fiat and purchase digital assets directly using a credit or debit card. However, going this route can incur fees as high as 2% per purchase.

Binance supports over 350 unique digital coins that can be bought, traded, and sold. Each asset can be traded against Bitcoin, altcoins, fiat currencies, or stablecoins, bringing the total number of spot trading pairs to 1,395. Furthermore, there are 203 futures pairs, bringing the combined total of tradable instruments to 1,598.

With such a large selection of assets, users will not have trouble finding trading opportunities. This is a strong reason why Binance is one of the best altcoin exchanges in the market.

Ease of use is a crucial consideration when selecting a crypto exchange. Thankfully, Binance provides a clear and intuitive interface that will be familiar to anyone with past crypto exchange experience. Although the 'Lite' mode is only available on the mobile app, Binance does offer simple conversion services that will likely appeal to beginners.

Binance has integrated the best crypto charting software, TradingView, to offer users advanced charting capabilities, excellent drawing tools, technical indicators, and live price data. Furthermore, the order-book-based trading window is packed with features, including transaction history and recent market activity providing users with additional data. Although, finding the transaction history on Binance can be difficult for first-time users.

To ensure that its massive customer base can always get a prompt answer to a question, Binance offers a comprehensive support center, 24/7 live chat, and voice call support. However, to reach a customer advisor, the user must first speak to a helpful bot to point them in the right direction and gather additional details about the user's issue.

Given the size of Binance's operations, some users will face frustration and problems, so it is not surprising to see mixed reviews on Trust Pilot. However, we tested the support system and found the help center to offer a lot of answers, the chatbot to point users to the right articles, and the live chat to be quick as a customer service agent reponed within two minutes.