Trading with any degree of leverage should be regarded as highly risky, as traders can lose many times the amount they originally invested. Accounts are funded and balances paid in the USD stablecoin Tether. Binance Futures: Binance has a separate platform, launched in 2019, called Binance Futures, which allows users to trade certain coins at a leverage of up to 125x.Margin Trading: Certain coin pairs can be traded on Binance for up to 10x leverage.Binance now has a widget that can be used to trade crypto through the Brave browser. Brave Binance Widget: Privacy-focused users may already be familiar with Brave, an internet browser that strives to protect user data.SEPA / Wire Transfers: Users trading in certain currencies, like EUR, AUD, and CAD, can buy crypto directly, with no fees, using bank transfers and SEPA.However, with fees as high as 3.5%, this will not be your cheapest option. Credit and Debit Cards: Users can purchase certain cryptocurrencies with credit and debit cards since Binance partnered with Simplex.Users set the price they want to pay or be paid, and the amount of currency they have, and post them on the P2P platform for other users to fulfill. P2P Trading: This feature allows users to trade crypto with one another on their own terms, with no fees.Featuresīinance offers a wide range of useful features on top of its basic trading platform. The best rule to follow in any investment is to not risk any money you can't afford to lose. This means that your chances of seeing extreme gains and losses are both increased. Investing in crypto is likely riskier than other forms of investment, as the market displays greater price fluctuations in shorter periods of time (volatility). It is not supported in the following states: Hawaii, New York, Texas, and Vermont. They also support a number of Bitcoin to other crypto pairs: BNB, Ethereum, VeChain, Chainlink, Tezos, Bitcoin Cash, Litecoin, Uniswap.BNB, TetherUS, Bitcoin, VeThor Token, Ethereum, Storj, Harmony, VeChain, EOS, Dogecoin, Stellar Lumens, Helium, Litecoin, Zilliqa, Matic Network, Elrond, Enjin Coin, Hedera Hashgraph, BUSD, Chainlink, USD Coin, Tezos, OMG Network, ICON, QTUM, Basic Attention Token, Bitcoin Cash, Uniswap, Orchid, Ravencoin, Band Protocol, Zcash, Horizen, NEO, 0x, Ontology, Cosmos, Compound, Maker, MIOTA, Ethereum Classic, KyberNetwork, Waves, NANO, Augur v2, DAI, PAX Gold.These fees are some of the lowest in the cryptocurrency space, making Binance a competitive choice for crypto traders and investors. How Does Binance Work?īinance is a cryptocurrency exchange that makes its money by collecting fees from users when they execute trades on the platform. Fiat currencies held on Binance are insured by the FDIC for up to $250k (through custodial accounts), though cryptocurrencies are not. It should be reassuring for potential traders to know that Binance says it paid affected users back in full. However, the global site was hacked in 2019 for the sum of 7,000 BTC, roughly equivalent to $40 million. While they offer low fees and many useful features, their interface is more complicated than more user-friendly competitors, and beginners may find it overwhelming.īinance.US has so far had no issues with security. They offer a U.S.-specific app and desktop site.īinance is geared toward intermediate and advanced investors. This is significantly less than the 350+ available on the international platform but more than many competing U.S. īinance.US is currently available in 46 states and offers over 130 cryptocurrencies. Like Binance, Binance.US is also one of the top 10 exchanges listed on CoinMarketCap, which ranks and scores exchanges. It was founded in 2019 and is managed by BAM Trading Services in San Francisco, California. As of February 2020, the Malta Financial Services Authority (MFSA) was "assessing if Binance has any activities in Malta which may not fall within the realm of regulatory oversight."īinance.US is the United States offshoot of Binance. Since moving to Malta, their status appears somewhat uncertain.
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