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Binance Overview

Binance Overview

Binance is a cryptocurrency exchange for buying and selling cryptocurrencies launched in 2017, making Binance the #1 cryptocurrency exchange in the world according to Coin Gecko and Coin Market Cap .

Remember!

Don’t forget to enter the referral code FJP6JRDQ when creating a Binance account to get 5% cashback for every transaction.

Currently, Binance has more than 15 million users with an average trading volume of $2 billion per day.

Binance Front View

Binance Review

We at Financer.com like many other users are very satisfied with Binance’s services and highly recommend this platform if you are looking to invest in Bitcoin or other cryptocurrencies.

Binance deserves a score of 4.7 (out of 5) from us.

Read to the end this Binance review to help you create an account and buy Bitcoin or other cryptocurrencies

Create a Binance account now! Free

Create a Binance Account Now! Free

Read Also : Binance trading fees (Binance vs. Coinbase)

What about Binance?

Binance Exchange is a crypto exchange where users can trade crypto assets or exchange other cryptocurrencies.

The Binance trading platform offers the most crypto coins, has low transaction fees and high liquidity transaction processing.

Apart from that, Binance offers a number of other interesting advantages. Here’s a list of advantages that we have summarized for you:

  • The platform is easy to use and can be installed on a cellphone.
  • Has the largest and largest collection of crypto assets in the world.
  • Has a staking feature that makes it easy for users to earn interest every day.
  • The platform can be used for beginner investors and expert crypto investors.
  • Low transaction fees and fast disbursement process

We, at Financer.com, are very satisfied with Binance. Binance has a good reputation, has a large selection of crypto coins, and has great features.

Read this review to the end to find out more about Binance, such as advantages and disadvantages, how to create an account, how to buy crypto coins, and other information about Binance.Register for Binance Now! Free

Binance Advantages and Disadvantages

Each crypto asset platform has its own advantages and disadvantages. Here’s a summary of Binance’s strengths and weaknesses.

Kelebihan Binance

  • The world’s largest cryptocurrency exchange platform according to Coin Market Cap and Coin Gecko.
  • Low trading fees.
  • The safest crypto platform in the world.
  • Offers more than 180 cryptocurrencies.
  • Available worldwide
  • Provides a built-in wallet to store coins.
  • Offers various payment options.
  • It has a staking feature that makes it easy for users to earn interest on coin deposits every day.


Kekurangan Binance

  • Credit card and debit card transaction fees are around 2% per transaction.
  • Unresponsive customer support.
  • Can’t be reached by phone.

Tanya Jawab Binance

Apa Itu Binance?

Is Binance Suitable For Beginners?

Is Binance Reliable?

What is Binance Coin (BNB)?

What is the Minimum Age to Invest in Binance?

Does Binance Have Its Own App?

Part Itu Binance Launchpad

Cara Kerja Binance

We’ll explain how Binance works in 3 ways:

  • How do I sign up for Binance?
  • How to deposit on Binance?
  • How to buy Bitcoin or other cryptocurrencies on Binance?

How to register with Binance?

To invest in Bitcoin or any other cryptocurrency, you must first create a Binance account. Here’s how to sign up for Binance:

  • Click “Register Binance Now” or “Create Binance Account”.
  • Enter the email address and enter the desired password.
  • Don’t forget to enter the referral code FJP6JRDQ to get 5% cashback for every transaction.
  • Click “Agree to terms and conditions”.
  • Click “Create Account”.
  • Solve Captcha puzzles to prove that you are not a robot.
  • You will receive a 6-digit verification code via email.
  • Enter the verification code within 30 minutes.
  • The registration process is complete. You can log into your Binance account with your chosen email and password.

Aktifkan 2FA (Two Factor Authentication)

Don’t forget to enable your 2FA to keep your account safe. To enable 2FA, you can find it under “Security” and “Google Verification”.

To enable 2FA, you must perform the below steps:

  • Download the “ Google Authenticator ” app .
  • Scan the code and enter the number you see and keep it safe.
  • Sign in with your Binance email and password , then enter the code from ‘Google Authenticator’ to enable 2FA.
Aktifkan 2FA (Two Factor Authentication)

Identity Verification (Optional)

By following the steps above, you can already use the simplest Binance account. This allows you to:

  • Trade or withdraw a maximum of 2 Bitcoins (BTC).
  • Deposit a minimum of $10 per day either via credit card or Visa or Mastercard debit card.

After creating an account, you can also verify your identity. Why do you need to verify identity? Here’s the explanation:

  • Trade and withdraw up to 100 Bitcoins (BTC) per day.
  • Increase the amount of deposit funds to hundreds of millions of rupiah, either by credit card or debit card Visa or Mastercard.
  • Can access P2P lending features .

Read Also : Trading Contract Futures In Binance

How does identity verification work?

  • Click “Face ID & Verification”.
  • Choose identity verification, fill in your personal data and upload a photo of the front and back of your ID card (can be passport, driver’s license or ID card).
  • After completing your identity verification, select address verification, enter your address according to your identity card.
  • Finally, take your selfie for verification.
Identity Binance Verification

Once your application is approved, you will receive a confirmation via email. Binance states that the verification process takes less than 1 hour.

Based on our experience, the verification process is completed in just 2 minutes and sent via email.

How to deposit on Binance?

To be able to buy Bitcoin or other altcoins, you must deposit fiat or crypto currency. In Indonesia, the fiat currency in question is Rupiah.

1. Deposit Fiat Money

Currently, there are 2 ways to deposit fiat money on Binance, namely via Credit/Debit Cards and P2P Trading. However, we recommend using a Credit/Debit Card as it is safer.

  • Masuk ke Binance
  • Click “Buy Crypto” and select “Credit/Debit Card”.
  • Enter the desired amount and select the coins you want to buy. We recommend choosing “BUSD” or “USDT” coins as they are stable coins that follow the US Dollar exchange rate.
  • Click “Buy BUSD”.
  • Choose a payment method, credit card or Visa or Mastercard credit card, and follow the instructions.
How to Deposit on Binance
Fiat Money Deposit

Which Deposit Method Do I Choose?

Binance allows users to buy Bitcoin and other altcoins using a credit card or debit card using 40 fiat currencies as follows:

To deposit money, select your preferred payment method. However, keep in mind that every money deposit transaction will incur fees, including:

  • Indonesian Rupiah (IDR)
  • United States Dollar (USD)
  • Euro (EUR)
  • British Pound Sterling (GBP)
  • Australian Dollar (AUD)
  • Chinese Yuan (CNY)
  • Dollar Canada (CAD)
  • United Arab Emirates Dirham (AED)
  • Argentine Peso (ARS)
  • Lev Bulgaria (BGN)
  • Real Brazil (BRL)
  • Franc Swiss (CHF)
  • Colombian Peso (COP)
  • Koruna Ceko (CZK)
  • Danish Krone (DKK)
  • Hong Kong Dollar (HKD)
  • Croatian Kuna (HRK)
  • Forint Hungary (HUF)
  • Israeli New Shekel (ILS)
  • Rupee India (INR)
  • Japanese Yen (JPY)
  • Shilling Kenya (KES
  • South Korean Won (KRW)
  • Kazakhstani Tenge (KZT)
  • Peso Mexico (MXN)
  • Malaysian Ringgit (MYR)
  • Nigerian Naira (NGN)
  • Krone Norwegia (NOK)
  • New Zealand Dollar (NZD)
  • Peruvian Sol (PEN)
  • Polish Zloty (PLN)
  • Leu Romania (RON)
  • Russian ruble (RUB) (also selling)
  • Swedish Krona (SEK)
  • Baht Thailand (THB)
  • Dolar Taiwan (TWD)
  • Lira Turki (TRY)
  • Ukraine Ukraine (UAH)
  • Dong Vietnam (VND)
  • South African Rand (ZAR)

With these currencies, you can buy and sell 15 cryptocurrencies instantly, such as: Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Basic Attention Token (BAT), Dash (DASH), EOS (EOS), Litecoin (LTC), NANO (NANO), Paxos Standard (PAX), Tron (TRX), TrueUSD (TUSD), and Tether (USDT).

Binance users can deposit funds via P2P Trading (P2P Trading).

Here, users from all over the world can sell USD Tether (USDT), Bitcoin (BTC), Binance USD (BUSD), Ethereum (ETH), and EOS to buyers who do not have Visa and MasterCard credit or debit cards.

With this P2P trading, potential buyers can pay for these crypto coins with fiat currency via bank transfer, OVO, DANA, or other E-Wallets.Register for Binance Now! Free

Read Also : 18 Best and Secure Bitcoin Wallet

2. Cryptocurrency Deposit

Do you have Bitcoin and want to buy another cryptocurrency with your current Bitcoin? Of course you can!

You can simply deposit or any other cryptocurrency on Binance. Here’s how to deposit cryptocurrency:

  • In the top right corner, go to “Wallet Spot Deposit Crypto”.
  • Click the coin you want to deposit (the default display is BTC, so remember to change it if you want to deposit another crypto coin).
  • Copy the address on the right.
  • Use this address to send Bitcoin or other cryptocurrencies. For example, do you have Bitcoin in Tokocrypto? Enter the platform and search for the title “note”, enter the address above and press send, you have successfully transferred Bitcoin to the Binance wallet.
  • It took about 2 hours to get in. You will receive a confirmation email once the deposit is complete.
Cryptocurrency Deposit

3. How to buy Bitcoin or other cryptocurrencies on Binance?

You can now buy Bitcoin or other cryptocurrencies by depositing fiat money in your wallet or transferring your cryptocurrency to your Binance wallet.

In this example, we are buying Bitcoin, but you can also buy other cryptocurrencies.

Buy Crypto Assets With Fiat Money

  • Click “Buy Crypto” in the top right corner.
  • Click “Cash balance”.
  • Enter the amount you want to deposit.
  • Click the desired crypto currency (eg Bitcoin).
  • Click “Buy”.

Now you have successfully purchased coins. You can deposit or trade with these coins.

What cryptocurrencies are traded on Binance?

The Binance platform is known for its wide reach. The popular crypto coins on Binance are:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Bitcoin Cash
  • Ripple
  • Binance Coin
  • Tether
  • Currency

In addition, Binance has its own crypto coin called Binance Coin (BNB).

With this coin, you can get a discount when trading. BNB transactions are carried out by Binance’s own blockchain, the Binance Smart Chain.

Apart from that, you can also trade with Binance Coin, which further increases the volume.

Binance Coin (BNB) is ranked in the top 3 in terms of market cap and the price of the coin has been increasing drastically in recent times.

Warning

On Binance, you can also find lots of shitcoins or cryptocurrencies. This Shitcoin or crypto micin is a low value crypto coin that does not have a good project. In other words, shitcoins are a bad investment.

Always Do Your Own Research (DYOR)

Before buying cryptocurrencies, make sure you study the fundamentals of the project and view the trading transactions first.

With a good crypto project, you can find all the information on the crypto coin’s website. Crypto micin has drawbacks, such as:

  • No team members are shown.
  • No technical information provided.
  • There are no white papers and road maps.
  • The project is not working.
  • Did not pass the audit.

Cara Trading di Binance

If you have one or more cryptocurrencies, you can start trading.

Binance offers a great trading interface where you can buy crypto coins and then sell them again.

Cara Trading di Binance

Are you thinking of buying some coins for trading? Here’s how.

  • Click the diamond button next to the Binance logo on the top left, then click “Exchange” and you will be directed to the trading platform.
  • Search for the cryptocurrency you want to sell or buy.
  • Binance uses abbreviations. Type the crypto abbreviation in the search field at the top right. For example, you want to trade Dogecoin, write Doge briefly.
  • Choose the right coin to buy the cryptocurrency you want. For example, you want to buy Dogecoin (Doge) with Binance USD (BUSD).
  • Now you can see all the information about this crypto coin, such as the lowest price, percentage increase and decrease, trading volume, charts, and more.
  • At the bottom left, you can click “Buy Doge”. By default, it is set to buy at the specified limit. You have to enter the amount you want to buy, for example buy 100 Doge for 50 BUSD
  • Determine what price you want to buy, set the limit and enter the desired number of coins. In the table on the left you can see the numbers in green and the numbers in green showing how many people were willing to buy them and the numbers in red how many people were selling them.
  • Click “Buy Doge”.
Trading in Binance

Binance Finance Features

In addition to the trading features, users can buy and sell Bitcoin and 180 other cryptocurrencies with fiat money.

Binance has also developed a suite of Binance financial features that can be accessed by every registered and verified user, including:

Binghasilan Binance (Binance Savings )

Binance Savings is a savings product that allows you to earn interest in crypto coins every day.

Binghasilan Binance (Binance Savings)

These Binance earnings have the option of saving short term (flexible) or long term (locked).

Putting all crypto assets in this earning feature gives you more than 1% profit every year.

Meanwhile, if you put crypto assets in locked long term savings, then you receive 15% profit per year.

Staking Binance

Another alternative way to earn crypto coins if you just want to invest is staking. Currently, staking is used by many protocols.

Staking Binance allows you to stake multiple cryptocurrencies with estimated annual yields, from 1% to 34.49%.

Staking Binance

Debit VISA Binance Card

Binance introduced the Binance VISA Debit Card which makes it easy for users to buy crypto assets around the world, just like a normal bank debit card.

Debit VISA Binance Card

Pinjaman Kripto (Loan Crypto) Binance

A recent addition to the Finance section is crypto lending which allows you to borrow s table coins , such as USDT or BUSD for a certain period of time using crypto collateral.

Crypto Loans

Register for Binance Now! Free

Binance Launchpad

Binance users can also access new coins on IEO ( Initial Exchange Offering ) activities or initial exchange offers. This activity is called Binance Launchpad.

Binance Launchpad

Since late 2017, Binance has started to mediate between IEO coin buyers and sellers and has launched 45 successful IEO projects.

IEO participants must have at least some BNB (Binance Coin) and this determines how many new coins the participant can buy.

Binance Launchpad’s profit returns are the highest of all exchanges, so it might be worth checking out.

Buying Shares on Binance

One of the newest features of Binance that is very interesting is that users can buy shares of world-famous companies, such as Tesla, Coinbase, MicroStrategy Incorporated, Apple, and others on Binance as well.

So, if you have the advantage of crypto coins or have excess funds you can diversify your funds to “ Binance Stock Tokens ” or “Binance Stock Tokens”.

Token Saham Binance

Review Binance Menurut Financer.com

Features

Buying Bitcoin and other cryptocurrencies on Binance is very easy. Binance has many interesting features that make it easy for users to earn free coins and also earn passive income from staking and saving coins.

display

Binance is a fast and easy to use crypto platform. Identity verification takes a few seconds and a money deposit also takes just 2 minutes. You can also access Binance via your smartphone.

Cost

The costs of trading are relatively low and are adjusted to the market. Therefore, we give 5 stars for the cost.

Support

The easiest way to contact Binance is by sending a question via Live Chat. We have sent messages several times and they are always answered. For Live Chat it takes a long time for the Customer Support to reply to our chat. So far, Binance is unreachable by phone. Therefore, we give 4 stars for support.

Money Deposit Method

The safest and most convenient method of depositing money is a credit card or a VISA or Mastercard debit card. Unfortunately, there is a credit/debit card transaction fee of 2% of the transaction amount. Therefore, we give 4 stars for this.

What do you think?

Written by Hilman Wijaya

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