35
Fiat currencies
181
Cryptocurrencies
| Product Name | Binance Cryptocurrency Exchange |
|---|---|
| Fiat Currencies | USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 23+ more |
| Cryptocurrencies | BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 160+ more |
| Deposit Methods |
Cryptocurrency |
| Trading Fee | 0.1% |
| Deposit Fees | None |
| Withdrawal Fees | Fees vary |
You can buy cryptocurrency with fiat currencies directly through Binance, as well as sell cryptocurrencies for fiat currency.
All fiat currencies are accepted when buying and paying with Visa credit card, but these transactions may incur high currency conversion fees.
To avoid large currency conversion fees, you can use the formally supported fiat currencies to buy cryptocurrency, via Binance’s wide range of third party payment providers.
Formally supported fiat currencies as of 20 February 2020 include:
To buy or sell with fiat currency on Binance:
You will now be able to see available payment options for your chosen fiat currency, and can check the fees associated with your payment option and currency prior to purchasing.
Standard Binance trading fees are 0.1% of your purchase, but there are ways to get considerable discounts by using the Binance cryptocurrency Binance Coin (BNB).
| Type | Fee |
|---|---|
| Standard trading fee | 0.1% |
| Credit card purchase | The higher of either 3.5% or US$10 |
| The discount | What it is | How much it is |
|---|---|---|
| BNB discount | A discount when paying trading fees with the BNB coin. | 25% discount |
| Tiered trading fee discounts | A discount for holding different amounts of BNB in your account while meeting trade volume requirements. | Reduces base trading fees to as low as a 0.02% maker fee and a 0.04% taker fee. |
| The discount | What it is | How much it is |
|---|---|---|
| BNB discount | A discount when paying trading fees with the BNB coin. | 25% discount |
| Tiered trading fee discounts | A discount for holding different amounts of BNB in your account while meeting trade volume requirements. | Reduces base trading fees to as low as a 0.02% maker fee and a 0.04% taker fee. |
Binance does not charge any deposit fees. You will still need to pay the small network fees involved with moving your cryptocurrency onto the exchange though.
There are no deposit fees for fiat purchases, as all associated costs are simply built into the transaction fee.
Withdrawal fees are dynamically adjusted based on the current state of the relevant blockchain network. They vary depending on the cryptocurrency, but are generally equivalent to less than a dollar.
| Transaction type | Limits |
|---|---|
| Deposits | No limit |
| Non-verified user withdrawal limits | 2 BTC per 24 hours |
| Verified user withdrawal limits | 100 BTC per 24 hours |
Deposits are usually completed within minutes. But in some cases, how long it takes might also depend on how you set the transfer fees in the sending wallet and what the cryptocurrency is.
Withdrawals are typically posted to the blockchain within half an hour to an hour, at which point they will generally arrive in your wallet within a few minutes. Again, this may vary depending on the cryptocurrency you’re withdrawing.
Binance’s markets are a little different to other exchanges. You’ll find them categorised into four different groups:
You can also set favourites to quickly access your preferred pairs.
The reason for these categorisations, according to Binance CEO Changpeng Zhao, is because the user interface was running out of room.
Explore the current promotions and see what's happening at Binance, or start browsing its markets.
Explore the BNB, BTC, ALTS and USDⓈ markets, or set your own favourites, and find the trading information that's most relevant to you.
Find a detailed range of trading information at your fingertips when you dive into a trading pair.
You can also set up advanced trade types and find more information in the advanced view.
Get started by creating an account and logging in. Note the reminder to make sure you're at the real thing and not a phishing site.
Despite its regulatory distance and relaxed verification processes, Binance is widely regarded as the world’s most trusted cryptocurrency exchange.
This view of Binance as a trustworthy exchange is shared by entities such as the Blockchain Transparency Institute, which has assessed Binance trade volumes as being 100% real and without any of the wash trading that tends to permeate the cryptocurrency industry.
It’s also widely regarded as having earned its trust the hard way. As the world’s most popular cryptocurrency exchange, it holds a large fortune in cryptocurrency at any given time and is constantly being probed by sophisticated attackers.
To date, it has successfully repelled all of these attacks and survived incidents that would likely have destroyed other exchanges. It has also performed follow-ups such as creating a secure fund to “insure” user holdings, and even posting bounties on attempted hackers.
Throughout it all, Binance has enjoyed a reputation for clear and prompt communication with its users.
Binance was a relative latecomer to the cryptocurrency scene compared to other exchanges. It was founded in China in 2017, just in time for the Chinese government to ban cryptocurrency trading domestically.
This proved to be a blessing in disguise though. It retained a number of its Chinese users but was also forced by circumstances to rapidly expand overseas. This gave it a global footprint and made it a well-known option in time for the cryptocurrency boom of late 2017.
While 2017 saw Binance find its feet and pick up a dedicated user base, 2018 was the year Binance expanded its service range and further developed its existing one. It moved to Malta and started building out plans for security token listings, added a range of educational resources to its site, initiated charity programs, opened a branch in Uganda, started trialling fiat currency deposits in Singapore, reformed its token listings process and jumped into the stablecoin craze.
And a lot more is on the radar for 2019. Most notably, it will be launching a decentralised exchange counterpart for the Binance centralised exchange and building out its own blockchain to serve it, with BNB as the native token.
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