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Binance Reviews

Binance Reviews Know1tAll October 13, 2021
Binance to launch $1B fund to develop BSC ecosystem. The announcement stated that the program is the largest ever announced in the crypto space. The Binance cryptocurrency exchange has announced a $1 billion accelerator fund to expand the capabilities of the Binance Smart Chain ecosystem and advance mainstream adoption across the financial technology sector. The exchange showcased the eight-figure fund in a tiered development model across four specialist areas: Talent Development, Liquidity Incentive Program, Builder Program and Investment & Incubation Program. The announcement suggested that they will allocate $100M, $100M, $300M and $500M to each segment, respectively. The largest benefactor of the pot, the investment & incubation program, will focus on multi-chain expansion of the already burgeoning areas of the technological sphere. This includes various metaverses, gaming, virtual reality and artificial intelligence. Maverick founder of Binance, Changpeng Zhao — otherwise known as CZ on Twitter — shared a simple, yet effective perspective on the news. In the statement, the platform outlined high expectations for the advancement of interoperability between traditional and Web 3.0 infrastructures. “With collaborations from industry-leading organizations, the investment fund will target scaling blockchain technology for real-life use cases and will bridge the gap between crypto-blockchain and the current technical-financial sectors.” Binance Smart Chain was introduced to the market in September 2020 as a foundational launchpad to foster the development of decentralized applications, or dApps, compatible with the Ethereum blockchain through the Ethereum Virtual Machine. Since inception, the platform has grown in stature to service in excess of 1 million daily active users across a wide range of more than 900 dApps. One of the most notable decentralized exchanges, or DEX’s, built upon BSC is PancakeSwap which currently has a total value locked, or TVL, of 9.8 billion according to data from Defistation. Amid the insidious rise of hacks and breaches in the decentralized finance, or DeFi, space, Binance Smart Chain partnered with blockchain security firm ImmuneFi to offer bug bounties and other reward incentives to ethically-focused whitehat hackers and developers.
Binance Reviews MoonCreature September 22, 2021
Binance users in Australia have 90 days to close their positions for futures, options and leveraged tokens. Binance, the world’s largest cryptocurrency exchange by trading volume, continues limiting its services amid the ongoing global regulatory scrutiny, announcing new trading restrictions in Australia. Existing Binance users in Australia will have 90 days to reduce and close their positions for products such as cryptocurrency futures, options and leveraged tokens, the exchange announced Monday. Effective from Friday, Australian users will no longer be able to increase or open new positions for derivatives products on Binance. Users will still be able to top-up their margin balances to prevent liquidations and margin calls, the announcement notes. After Dec. 23, Binance users in Australia will no longer be able to manually reduce or close their positions, as all remaining open positions will be closed. “We are committed to our industry for the long term and we want to ensure our product offerings are welcomed by users and local regulators,” a spokesperson for Binance told Cointelegraph. “We also monitor local regulatory requirements across different markets as Binance operates globally. We want to ensure the process for any transition we make is not disruptive,” the representative added. Binance’s latest trading suspensions in Australia follow a series of similar restrictions in other countries amid the exchange facing several warnings from multiple global regulators. In August, Binance reportedly halted crypto derivatives trading in Brazil, following similar suspensions on its Hong Kong operations. Previously, Binance suspended derivatives trading for users in Germany, Italy and the Netherlands as part of its broader plans to cease these products across Europe.
Binance Reviews Terra Crypto September 6, 2021
The Monetary Authority of Singapore placed Binance on its investor alert list on Sept.1 over concerns that the crypto exchange may have violated local payments regulations. Global cryptocurrency exchange Binance announced Sunday that it will roll back product offerings in Singapore amid warnings from financial regulators that the company may have violated payments laws. Beginning Sept. 9, Singaporeans will no longer be able to trade cryptocurrencies or receive payments denominated in the Singapore dollar, better known as SGD, according to a Sunday blog post. The Binance mobile app will also be removed from Singapore’s Apple and Google Play stores. The exchange said all SGD trading pairs will be removed at 04:00 UTC on Sept. 9, with users advised to complete all peer-to-peer trades 24 hours in advance of the deadline.
Binance Reviews Know1tAll September 3, 2021
Binance US plans to close a major private funding round in the next two months to become more independent from Binance. Binance’s affiliate United States-based cryptocurrency exchange Binance US is targeting an initial public offering (IPO) in 2024, according to Binance CEO and founder Changpeng Zhao. BinanceUS is planning to close a large private funding round in the next two months that would allow the firm to become more independent from the global exchange, Zhao said on Sept. 1 in an interview with tech publication The Information. Zhao is confident that the global crypto exchange will survive the ongoing regulatory crackdown by global regulators, and that Binance US will move toward a public listing in three years. “Binance.US is just going to do what Coinbase did,” Zhao stated. He said that Binance generated $800 million to $1 billion in profit last year. The news comes amid more global regulators raising concerns about Binance’s operations, with the Monetary Authority of Singapore (MAS) adding Binance's website to its investor alert list on Sept. 1. The list provides a record of unregulated persons who “may have been wrongly perceived as being licensed or regulated by MAS.” According to local reports, Binance Asia Services (BAS), the Singapore-based unit of Binance, operates as a separate entity and does not offer any services via Binance’s website, running a different platform, Binance.sg, instead. In June, the MAS said it was planning to review BAS’ application for a license under the Payment Services Act. Binance previously applied to operate in Singapore under the act in February 2020. The MAS did not immediately respond to Cointelegraph’s request for comment. As previously reported, Binance has been under increased scrutiny from global regulators in recent months, with warnings being issued by authorities in countries like the United Kingdom, the United States, Canada, Japan, Italy, Thailand and others. The exchange has stressed its commitment to cooperating with regulators multiple times.
Binance Reviews Big Fred August 11, 2021
I find it hard to come up with a thing that I don't like about Binance. It is a great platform with a very capable CEO that has put together a hard-working team that constantly comes up with marvelous solutions. While other cryptocurrency exchanges have a pathetically small range of offered services, which usually goes no further than spot and margin trading, Binance has already rolled out futures trading as well as lending and staking programs. Moreover, now I can purchase crypto for fiat directly on the platform.
Binance Reviews RealSatoshi July 28, 2021
Binance will continue applying new withdrawal limits for existing users in phases starting from Aug. 4. The exchange expects to have adopted new withdrawal restrictions entirely by Aug. 23. Binance users who have completed full identity verification will be still able to withdraw up to 100 BTC in a day, or nearly $4 million at BTC prices at the time of writing. “Withdrawal limits refresh daily at 00:00 AM,” the announcement notes. Binance also rolled out its new tax reporting tool on Wednesday. The reporting system is an Application Programming Interface that enables Binance users to track their crypto transactions, transfer their transaction history to third-party vendors, and obtain instant overviews of their local tax liabilities. The new initiative is part of the exchange’s broader strategy to expand user protection and risk management protocols.
Binance Reviews Jose9949 July 26, 2021
I can argue for hours with anyone that would say that Binance is not the most progressive trading platform we have today. It has everything that both nascent and experienced traders need. The fees might not be the lowest, but they are definitely on the south side of the industry standard. CZ is doing a marvelous job of expanding the reach of Binance and adding new feats and stuff. I am a happy trader when I am not Binance, and I don't plan to migrate anywhere.
Binance Reviews k1$dAb01 July 21, 2021
Binance stops stock token sales, effective immediately. The crypto exchange gave no indication as to the reason, stating only that it would be shifting its “commercial focus to other product offerings.” Binance’s highly popular stock tokens, a relatively recent offering, are being wound down immediately. In an announcement published on Friday, the exchange announced that “effective immediately,” stock tokens are unavailable for purchase on Binance.com. As of October 14, 2021, at 7:55 pm UTC, the exchange will no longer support stock tokens at all. Existing stock token holders will have some time to adjust: “Users who currently hold stock tokens may sell or hold them over the next 90 days. Users will no longer be able to manually sell or close their positions after 2021-10-14 19:55 (UTC). Thereafter all stock token positions on Binance.com will be closed at 2021-10-15 13:30 (UTC).” While unconfirmed as of the time of writing, Walter Bloomberg has claimed in a tweet that: If true, the development would confirm that mounting regulatory pressure on the world’s largest cryptocurrency platform is continuing to hit its operations hard. In late April, there had already been reports that European and British regulators were scrutinizing Binance’s offering of stock tokens — which represent fractions of equity shares in firms such as Tesla and Coinbase — for possible non-compliance with securities laws. While initially not commenting on Binance in particular, Germany’s Federal Financial Supervisory Authority (BaFin) went on record at the time, stating that: “Fundamentally [...] the following applies: if tokens are transferable, can be traded at a crypto exchange and are equipped with economic entitlements like dividends or cash settlements, they represent securities and are subject to the obligation to publish a prospectus.” BaFin soon mentioned Binance explicitly, noting its absence of published prospectuses for the stock tokens. Spring and summer of 2021 have been difficult for Binance on the regulatory front, with multiple countries taking action against it or reportedly investigating its operations from various compliance perspectives. In the United Kingdom, the Financial Conduct Authority ordered the exchange to halt all “regulated activity” in the country in June. That same month, Japan’s Financial Services Agency accused Binance of operating in the country without proper registration, and new measures against crypto exchanges in the Canadian province of Ontario prompted the exchange to cease all its operations there.
Binance Reviews Silent_Trader July 21, 2021
Before registering on Binance, you must take into account the fact that there are several versions of the original trading platforms that were launched for different regulatory-related reasons. For instance, Binance U.S. was created in 2019 as a separate business entity in response to the regulatory pressure from the U.S. authorities. After operating for some time across the entire country, Binance U.S. got banned by the authorities in seven states. Apart from the U.S. version, there are also Binance Singapore, Binance Uganda, Binance Jersey, and several more. If you are residing in any of those places and want to trade cryptocurrencies on the top centralized exchange, you would have to register an account on a corresponding version of the original platform.
Binance Reviews Know1tAll July 19, 2021
Binance has destroyed $400 million worth of BNB in its 16th quarterly token burn event, but the markets don’t seem to care. Major cryptocurrency exchange Binance has completed its 16th quarterly Binance Coin (BNB) burn, destroying over $390 million worth of BNB. On July 18, Binance reported that it had destroyed 1,296,728 BNB tokens valued at just under $400 million at the time. The exchange noted an additional 5,163 BNB that were destroyed through its Pioneer Burn Program - an incentive that aims to help users who have lost tokens through honestly mistaken transactions to smart contracts. Binance covers the losses, returning the tokens to users under specific circumstances. These token numbers are then deducted from the quarterly burn totals by the exchange. Binance has pledged to burn 20% of the exchange’s profits every quarter, with the latest burn suggesting the exchange could have profited by $2 billion during the second quarter of 2021. The latest burn is the second-largest in Binance Coin's history by fiat value, with a whopping $600 million worth BNB having been destroyed in March. Despite the scale of the burn, the event appears to have had little impact on the Binance Coin markets, with BNB prices trending sideways over the weekend. At the time of writing, BNB was trading down less than 1% on the day at $301.66. It is currently down 56% from its May 10 all-time high of $686, but is still up an impressive 700% since the beginning of the year. Binance has recently been battling regulators on multiple fronts, with significant regulatory pressure coming from the United Kingdom, Germany and Hong Kong. In the U.K., a number of high street banks have also curtailed their customers from transacting with the exchange as the country’s financial regulator clamps down on unregulated cryptocurrency trading platforms.
Binance Reviews RealSatoshi July 13, 2021
The number of Bitcoin (BTC) held on centralized exchanges has consistently fallen since late May, with roughly 2,000 BTC (worth roughly $66 million at current prices) flowing out of exchanges daily. Glassnode’s Monday “The Week On-Chain” report found that Bitcoin reserves on centralized exchanges have fallen back to levels not seen since April, the month that saw BTC blast to its all-time high of roughly $65,000. The researchers noted that during the bull run leading up to this peak, relentless depletion of exchange coin reserves was a key theme. Glassnode concludes that much of this BTC went to the Grayscale GBTC Trust or was accumulated by institutions, driving “a persistent net outflow from exchanges.” However, when Bitcoin prices slumped in May, this trend reversed as coins were sent to exchanges for liquidation. Now, the net transfer volume has moved back into negative territory again as outflows increase.
Binance Reviews Wonderberg55 July 11, 2021
Whether you like it or not, Binance is the most progressive, and one of the most popular crypto exchanges in the industry. They have done a terrific job this year promoting their platform, improving the infrastructure and functional capabilities, as well as introducing a ton of new features and trading options. Their mobile app is definitely the most convenient and intuitive among the competitors, so, basically, these are the reasons why I intend to give preference to Binance over other exchanges.
Binance Reviews Know1tAll July 7, 2021
Although Binance didn't specify the reason for temporarily halting SEPA transfers, the decision likely stems from the onslaught of regulatory action taken against the firm. The most recent decision came a day after British financial giant Barclays announced it would no longer facilitate customer payments to Binance after financial regulators warned users that the exchange was operating in the United Kingdom without proper licensing. In a follow-up with Cointelegraph, a Binance spokesperson said the exchange was disappointed by Barclays’ ”unilateral action” to block customer payments, namely: “We are disappointed that Barclays appears to have taken unilateral action based on what appears to be an inaccurate understanding of events." Faced with growing regulatory scrutiny in the United Kingdom, Binance said last month that customers will no longer be able to use the popular Faster Payments on-ramp to withdraw British pounds from the exchange. Despite facing backlash from the U.K., Japan, Canada and even the United States, Binance remains, by far, the largest cryptocurrency exchange in the world. On Tuesday, the exchange processed over $15.8 billion worth of transactions, according to industry data. By comparison, the second-largest exchange, publicly-traded Coinbase, processed more than $2.2 billion in trades.
Binance Reviews Crypto Shark July 7, 2021
Effective 8:00 am UTC on Wednesday, Binance users will no longer be able to make euro deposits through their bank. However, they can still fund their accounts with credit cards and debit cards. Regulatory constraints facing Binance have forced the popular cryptocurrency exchange to temporarily halt bank transfers denominated in euros, according to an email sent to its customers on Tuesday. Specifically, euro deposits via the Single Europe Payments Area, or SEPA, have been put on hold indefinitely due to circumstances beyond the exchange’s control, Binance said in the email: “Due to events beyond our control, we are temporarily suspending EUR deposits via SEPA Bank Transfers from 8 am UTC on July 7, 2021.”
Binance Reviews acc0untant July 6, 2021
The amount of Bitcoin (BTC) held on exchanges has been declining steadily since mid-May, offering reassurance that the worst of the market selloff has passed. At current levels, Bitcoin’s exchange supply is at its lowest level since early January, according to crypto analytics firm Santiment. “The 6-month low is a promising sign, as it generally will indicate that there is a decreased risk of more major $BTC selloffs,” the analytics firm tweeted Monday morning. Exchange inflows began to spike in early May, which likely served as a precursor to Bitcoin’s steep selloff through the middle of the month. The Bitcoin selloff intensified on May 19, culminating in a $1.2 trillion decline for the entire cryptocurrency market. Exchange-flow data is an important metric for monitoring Bitcoin’s price trajectory in the short to medium terms. Net inflows often foretell a steep selloff as more investors transfer their holdings from cold wallets, possibly for the purpose of selling. Case in point: In May, Bitcoin experienced the biggest exchange inflows since the March 2020 COVID-19-related crash. While Bitcoin remains in a firm intermediate downtrend, investors are finding more reasons to be bullish. The speed of adoption in places like Latin America, an anticipated shift in mining from China to other regions and growing indications that the market has bottomed are all causes for optimism. On the flip side, analysts continue to warn of an uncertain outlook in the short term, with several prominent industry voices calling for a steeper correction this year.
Binance Reviews Silent_Trader June 28, 2021
I think that no one would dare to argue that Binance is the fastest developing exchange at the moment. What I really like about Binance is that they are currently working hard on adding ways to purchase cryptocurrencies with fiat directly on their platform. For instance, just a few days ago, they have added an option to buy/sell cryptocurrencies with Euro, Russian Ruble, Ukrainian Hryvnia, and Kazakh Tenge. That's a great move to expand their user base in the post-Soviet countries.
Binance Reviews J1n Ba0 June 18, 2021
When it comes to Binance, it was love at first sight for me, if that doesn't sound too cheesy. Anyway, I have entered this space in 2017, when the so-called cryptocraze had just begun getting into gears. Binance was the first cryptocurrency exchange I have registered with; Bitcoin was worth around $3K at that time. Back then, I was just a nascent trader, but my intuition, and the lack of greed, allowed me to ride the "green" wave up till it hit $18K, and then sell my BTC for a substantial profit, just before it all went crumbling. I've been loyal to Binance ever since.
Binance Reviews haPPy June 7, 2021
With outflows from exchanges typically being inferred as indicating crypto assets are being moved into cold storage for security or DeFi protocols for yield generation, inflows are interpreted as assets being moved onto centralized platforms to be sold. Data compiled by on-chain crypto analytics firm Glassnode shows the past two days have seen consecutive all-time highs produced for net transfer volume onto Bitcoin on to leading centralized exchange, Binance.
Binance Reviews CrypticFlesh May 11, 2021
In all candor, Binance is currently the most reliable and efficient of all centralized exchanges. And it will retain this status until traders make a fill switch to decentralized platforms. And, by the way, Binance already launched DEX, so I might even consider staying in their ecosystem once it gets fully operational. My trading experience with Binance has been nothing but pleasurable. I definitely love the fact that this platform offers a possibility of placing a stop-limit order - it saved me on a number of instances.
Binance Reviews Crypto Shark April 29, 2021
Binance launched fractionalized stock tokens for Apple, MicroStrategy and Microsoft on April 26, adding to tokens for Coinbase and Tesla which launched earlier in the month. The exchange had employed German equity firm CM-Equity AG to hold its “depository portfolio of underlying securities” which Binance claims provides full financial backing for the tokens.

* Crypto Rating accepts no liability for content of the Binance reviews made by the site users. The entire responsibility for the contents rests with the authors.

Top 10 Cryptocurrency Exchanges

# Exchange Founded Rate Coins Volume 24h Change 24h
1 Binance Binance 2017 4.7 341 105 978 403 175 -24.66%
2 Kraken Kraken 2011 4.5 62 1 896 454 302 -37.06%
3 Bitfinex Bitfinex 2012 4.4 146 1 518 404 919 -44.88%
4 KuCoin KuCoin 2017 4.2 282 4 694 789 010 -26.16%
5 Indodax Indodax 2019 3.8 157 76 259 959 -38.27%
6 WazirX WazirX 2018 3.4 176 104 987 925 -25.16%
7 Paribu Paribu 2017 3.1 51 411 615 466 -11.55%
8 Huobi Global Huobi Global 2013 4.3 314 25 359 884 677 -29.33%
9 OKEx OKEx 2014 3.6 242 22 955 131 613 -19.79%
10 FTX FTX 2019 1.7 192 22 001 254 542 -19.50%

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