Anyone who has used Binance, please share your experience. Is it true that upon registration you can get 100 USDT

BINANCE

BINANCE is the No. 1 cryptocurrency exchange with the highest trading volume worldwide.

Cryptocurrency trading in 2022 has not only not lost popularity, but is actively attracting people. The reason for this is as simple as possible – with sufficient perseverance and the ability to analyze, there is a high probability of income. For some, it's a small amount of money, while for others, it's a full-fledged business. But it is important for everyone to choose a good platform that allows you not only to trade, but also to earn in other ways. Today we will tell you about Binance, the largest cryptocurrency exchange today. What it offers to visitors, what opportunities it has, what is needed for safety, and much more in this article.

Basic information about the exchange

If you look at the official data on the website of the Binance exchange, you will find the following:

• Place of registration – Malta
• Company – Beijing Technology
• The owner of the company is Changpeng Zhao

Prior to the creation of Binance, Zhao Changpeng served as the head of the Blockchain development department, at the same time being the owner of the OKCoin exchange, where he was the CTO. He claims that he got acquainted with BTC back in 2013, when he played poker with a venture capitalist, who told him about the coin and blockchain technology. Zhao was so immersed in the topic and believed in cryptocurrency that in 2014 he gave all the funds, including the sold house, to buy BTC.

From the very beginning, Zhao understood that the future belongs to trading, and therefore it is worth trying to open your own trading platform. However, this required cash injections, which is why it was not possible to immediately become the owner of such a business. But in 2017, when there was a real boom in ICO projects related to cryptocurrency, he finally decided. He needed to conduct a crowdsale, and with the funds received from other enthusiasts, and it was as much as 15 million US dollars, he opened the Binance exchange.

Already in 2018, Zhao received the popular title of "Cryptocurrency King of China" and appeared on the cover of Forbes magazine. Although he did not work alone, because he managed to assemble a team of people, many of whom showed themselves well in trading on Wall Street. The number of users, and consequently income, grew at a tremendous pace, which made it possible to actively invest in the Binance exchange, improve the work of the site, and add new functions and capabilities. In 2022, Binance occupies a leading place in the list of platforms working with cryptocurrency.

If the Guinness Book of World Records had an item "Fastest Growing Exchange", then Binance would have taken this title for itself. It took less than a year for Binance to take 1st place in the world ranking.

The creators of Binance, as well as ordinary visitors, note the most important points that influenced their choice in the direction of this exchange:

• True decentralization
• Maximum security
• High speed of the resource

Of course, these are not all the advantages of this exchange, and we will also talk about the rest a little later.

Registration on Binance – step-by-step instructions

When you go to the official website, the statistics of the exchange immediately appear on the screen. But to use its features, you will need to register first. This is done in 3 ways:

• Via e-mail
• By phone number
• Using your Apple or Google accounts»

In the first 2 cases, you will need to confirm your account - follow the link in the received email or enter a digital code from the received SMS. At this point, the simplest registration on the Binance exchange is complete, but it is still incomplete.

Binance verification – what it is and what it is for

The system immediately warns that in order to get a full-fledged account, you will need to verify the user's data. In 2021, it was still possible to remain anonymous and trade on the exchange, but then the owners decided to make everyone real people, not faceless accounts. In addition, this has a positive effect on the reputation of Binance, because scammers simply cannot provide their documents, and then deceive people.

For verification, you must provide the exchange with the following:

Likewise:

• Country
• Residential address
• Zip code

Now the most important thing is a scan of your identity document:

To send it, you will need to take a photo with a smartphone camera of the passport or what replaces it in a particular country. The security of personal data contained in documents is 100%. The Binance exchange has been on the market for 5 years, and during this time there has not been 1 official confirmation of the leak of information to third parties. Everything is encrypted and is never shared with others, nor is it used for any purpose other than identity verification.

The list of benefits that a verified account will receive consists of many items, and the main ones are indicated directly in your personal account:

Please note that there is also an extended verification, which implies additional confirmation of the address of residence with the appropriate document. Such users have the opportunity to the maximum and are offered a full range of exchange functions.

Protect your account

Next, you will be asked to increase the level of security of your account by connecting two-factor authentication by number, or through a special program from the Binance or Google exchange:

In both cases, each time you log in, you will need to confirm via your smartphone or the app installed on it. Two-factor authentication will protect your account from attempts by third parties, since even if your username and password are revealed, they will not be able to simply enter them and get full access.

Binance mobile app and desktop

It is not always possible to find time to sit down at the computer and devote time to trading or other activities on the stock exchange. Therefore, there is a convenient Binance app for modern smartphones based on iOS and Android. You can simply find them in the corresponding store of the operating system, or click on this button, scan the QR code and download the necessary program:

Speaking of programs, it is necessary to mention the possibility of installing a special application on the computer. You can download it on the official website of the Binance exchange in the appropriate section:

Suitable for PCs and laptops based on:

• MacOS
• Windows
• Linux

We won't touch upon its functionality in detail, but we will say that it is somewhat more convenient for trading, just by logging in through a browser.

Funding your account to start trading

The next step is to replenish your personal account on the exchange. Binance did not initially offer the direct purchase of cryptocurrencies with conventional money, called fiat. In 2022, this operation is performed without any difficulties. A prerequisite for replenishment is verification.

A huge amount of fiat money is supported, including the most popular ones:

• Rouble
• Dollar
• Euro

Depending on the currency chosen, the methods of replenishment also change, but most often they include:

• VISA
• MasterCard
• Payeer
• AdvCash
• Swift Transfer

If you have previously mined, collected funds from faucets, or received cryptocurrency in some other way, then there is an opportunity to enter it immediately. This is done very simply: "Wallet" – "Fiat and spot" – "Enter cryptocurrency". Currently, more than 300 tokens are supported, but the most popular are still 5:

• BTC
• ETH
• USDT
• BNB
• EOS

After selecting the coin, the cryptocurrency wallet address will open. You need to copy it and specify it in the place from where you plan to transfer funds. The Binance exchange does not charge a commission, but the sender may have it, so you need to carefully read the terms of the transfer.

Withdrawing funds from your Binance account

It is done in the same way as the previous input description. You just need to go to the wallet and select the appropriate section there. Next, a window will open with all the necessary information for withdrawing cryptocurrency from the exchange, including the commission:

There is a commission of the Binance exchange, and it is immediately indicated in the withdrawal window, which is very convenient. Please note that you will not be able to withdraw a pair of satoshis, as it is not cost-effective for the site. The minimum size for withdrawal is shown on the screen, and for BTC it is 0.0000096 BTC. Binance sends money instantly, but the receiving system may have delays that need to be taken into account.

A withdrawal cannot be made if two-factor authentication is not enabled. This is done for security purposes so that no one can take possession of someone else's cryptocurrency.

Cryptocurrency Conversion

Active traders never use only 1 coin, and beginners are advised to have a couple of assets just in case. If there is one thing on the cryptocurrency wallet, for example, BTC, then it can be exchanged for something else. This is done through this item of the official website:

Next, you just need to specify the pair of cryptocurrencies, the amount of funds and click the button. The exchange takes place instantly, without charging a commission.

It should be noted that in the case of direct exchange, the rate is guided by the market rate, but it will still be less profitable than in trading. The advantage of Binance Convert is speed, as you don't need to wait for someone to accept the transaction and the transaction to be completed. At the same time, if every Satoshi is important and there is time to wait, then it is better to contact the exchange directly.

Ways to make money on the exchange

Now it is no longer just a cryptocurrency exchange, but a full-fledged service that offers users completely different ways to make money. The spot market is a basic function, because it is where the entire platform began.

There are 2 main ways to display information on the screen – classic and advanced. They differ in how large the amount of data is present. For most beginners, the classics are also suitable, where everything you need is clearly located on the page.

Professionals who prefer in-depth analysis and know how to build trading tactics should look towards the second option. In it, you can fine-tune to display various information, such as:

• Order book
• Transaction-specific data
• Multiple Markets

The next step is to choose a specific cryptocurrency that is planned to be traded on the exchange. Binance allows you to set additional settings to make trading more efficient:

Limit – a specific price for the purchase or sale of cryptocurrency, its quantity is indicated. As soon as this threshold is reached, the transaction will take place immediately.

Market – the amount of cryptocurrency is indicated. The transaction is made instantly at a certain rate, as in the case of direct conversion.

Stop Limit – Specifies the upper threshold, sell price, and quantity. When the rate reaches the "stop" parameter, the transaction will be made at the "limit" value.

Margin Trading

In this case, the exchange offers to trade with leverage, which will allow you to increase profits. However, experienced traders understand that the margin market is associated with risk, so you need to be careful.

For margin trading, you already need to have a certain amount of cryptocurrency on the main account of the Binance exchange. From the personal account, it is transferred to the margin account, in which the loans are available. Leverage cannot be more than 100% of the available funds, and additionally depends on the user's activity.

Of course, no one will give money just like that, and the systemtakes its percentage for such a service in margin trading. The margin rate is calculated individually and in most cases is indicated on an hourly basis:

The received cryptocurrency can be used for trading on the Binance margin and spot exchange, and it is similar to the spot market.

Futures

Since 2019, there has been another opportunity to make money on cryptocurrencies. Here you can trade perpetual futures, which allows you to work with large amounts without having these funds in your account, but with a subsequent return at the interest rate. Currently, there are dozens of contracts, in some of which the leverage reaches x125.

Binance Earn

Another way to make money from the exchange is designed for those who do not want to engage in market analysis and follow the sharp jumps in cryptocurrencies. On Binance, you can invest existing funds so that they can be used by other participants and the system, and the owner will receive a certain percentage for this. Depending on the method chosen, you can get up to 30% per year.

Now the Binance exchange offers 4 options with their own subparagraphs, where the features of a specific method of investing cryptocurrency are immediately written:

• Deposits

• Staking

• Farming

• Dual Investment

OTC to Binance

A separate portal for large traders who exchange amounts of at least 1 BTC in 1 transaction. To ensure maximum confidentiality, Binance conducts these transactions outside the platform and does not register them with itself, although the participants are still persons registered on the exchange.

Binance coin

The exchange offers its own token, BNB, which serves a variety of purposes:

• It supports the overall performance of the Binance exchange due to the constant activity of the BNB token.
• Payment of commission for trading services. Moreover, when choosing the BNB token, the size is reduced by a certain percentage, which allows trading participants to save.
• Pay for goods and services in certain stores. The list is still small, but the creators are working to expand the scope of the BNB token.
• Issue loans and invest in investments. The BNB token can be used to issue loans to other participants, receiving interest for this.

You can buy the BNB token in the same way as another cryptocurrency - on the market, through p 2 p, by direct conversion.

The BNB token can be stored not only within the service, but also on some suitable cryptocurrency wallets, which allowed it not to become a hostage of 1 platform.

NFT Marketplace

The Binance exchange could not avoid such a popular topic as trading non-fungible tokens. There is a whole NFT marketplace here, where 3 sub-points are offered:

• Games

• Marketplace with NFT collections

• Mystery Boxes

Reviews about Binance

The best indicator of the exchange's performance is what real users say about it. It's easy to find thousands of different Binance reviews online, and they vary quite a lot for me. Let's consider a few comments from traders and clients of the platform.