In addition, the crypto exchange provides a special form of staking with the NBB Vault.
Fixed Savings: this method is very similar to locked staking, but offers a much shorter period (7 to 15 days).Flexible Staking: Here, users can determine how long the staking period should be.Locked Staking: The own crypto coins can not be staked for a preset period (90+ days).Here, users can deposit their crypto assets with a fixed interest rate and are rewarded with payments for doing so. Like many other crypto exchanges, Binance also offers a staking program. This makes it possible to pay with cryptocurrencies at over 60 million merchants. For some time now, Binance has also been offering a crypto debit card in cooperation with Visa. From spot and futures trading to staking and mining to savings accounts for BNB, USDT, BUSD, and various DeFi coins. In terms of functionality, Binance also meets the expectations. The platform supports up to 1.4 million orders per second, making it one of the fastest in the crypto space. With hundreds of supported cryptocurrencies, Binance has the largest coin offering among centralized crypto exchanges. Of course, this includes various applications from the DeFi sector but also trading with leveraged tokens. In addition to the core business - trading - numerous other features have been added, from pool mining and future trading to the company’s crypto debit card: There is hardly a crypto topic in which binance is not active. Especially in times of high demand, it can take several days until you receive an answer to your request. This means that if questions and/or difficulties arise, a certain waiting time has to be accepted. There is no live chat or telephone hotline. Test and experience reports show that a response can be expected after about two to five hours. At the moment, only the contact form is available. Support is one of the areas where the industry leader still has to catch up. (read more) Furthermore, the platform has security features such as two-factor authentication (2FA), anti-phishing codes, and a whitelist for withdrawals. The company pays 10 percent of all trading fees to the SAFU. That’s because the platform has a fund called the Secure Asset Fund for Users (SAFU) to protect customer funds. However, the customer deposits remained safe. At the beginning of 2019, a hack took place in which 7,000 BTC were stolen.
In 2018, there was a leak of customer data from the platform. Even Binance no longer has a completely clean reputation in this regard. Room for improvement in the customer support However, there is still room for improvement in customer support.īuild your crypto portfolio - Ĭentralized exchanges carry the inherent risk of becoming a victim of hacker attacks.Not so fluent User Experience, especially in the beginning.Deposits are possible via FIAT currencies (Euro, Dollar).If you use the Binance Coin on the platform, you will be charged less for certain services and have special advantages. However, you can also store your coins in an external wallet.īinance has even launched its own cryptocurrency on the market with the Binance Coin - BNB. This means that an internal wallet is provided by the platform. Binance Earn: The Staking and Lending Programįurthermore, it is possible to store the purchased coins directly on the Binance server.Binance Beacon Chain (BC) and the Binance Coin (BNB).The exchange includes a whole set of features, including: According to the platform, around 1.4 million transactions are carried out per second.
Additionally, they offer discounts if you use BNB.Now, more than 30 million crypto fans use the platform, resulting in an average trading volume of more than 20 billion US dollars. The pricing structure for different types of transactions is divided into levels according to your thirty-day trading volume and BNB balance.
Binance Fees: Conclusionīinance offers competitive rates. You can check the trade limit for all the cryptocurrency pairs here.
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