Binance Futures Hesaplama

binance-review

Cryptocurrency, shortened as crypto, is any digital or virtual currency. To ensure that transactions are secure, cryptocurrency uses cryptography as a means of security.

Cryptocurrencies do not have a regulating or central issuing power; rather, they depend on a decentralized system to record transactions and issue new units. As such, it doesn’t rely on banks to do transactions.

So what does it use? It relies on a peer to peer system that allows anyone to send and receive money from anywhere. This currency exists purely as digital entries and is recorded on an online database that describes specific transactions.

Every transaction made with cryptocurrency funds will be recorded in the public ledger. Each owner of a cryptocurrency has their funds stored in a digital wallet.

Cryptocurrency is so named because of its use of encryption to keep and verify transactions. Cryptocurrency can only exist digitally and virtually because it uses encryption methods only computers can understand.

This advanced coding is used to store and transmit cryptocurrency data. It provides security and safety while transactions between wallets and public ledgers take place.

Bitcoin was the first Cryptocurrency and was established in 2009. It is still the most well-known cryptocurrency today. It is not the only cryptocurrency. Some others include: DogeCoin, Ethereum, BNB (Binance Coin), Tether, Solana, and Polkadot.

To trade or exchange these currencies, one would need to use the services of a crypto exchange or digital currency exchange (DCE).

A Cryptocurrency exchange is a business that allows customers to trade cryptocurrencies and digital currencies for other assets like other digital currencies or fiat money.

Crypto exchanges have functions that are similar to online brokerage platforms. You can use them to purchase and sell digital currencies or tokens for various cryptocurrencies.

Crypto Exchanges can accept credit card payments, wire transfers, or other forms of payment in exchange for digital currencies or cryptocurrencies.

Binance is one such dedicated cryptocurrency exchange.

Binance and Overview Binance Futures Hesaplama

binance-logo
For those of you who prefer a more visual experience, here is a video review from Beau Troxclair on his YouTube channel 0xBeau. You can still read our article for a complete overview of Binance.

Binance is still the best cryptocurrency exchange in the world when it comes to cryptocurrency trading. Binance has the largest trading volume of any cryptocurrency exchange and offers users the most trading pairs in cryptocurrency.

Binance was founded in 2017 by Changpeng Zhao (“CZ” Zhao). Although it was originally based in China, it was quickly relocated to the United States due to increasing crypto restrictions. It has been moved around from Japan and Malta, but it did not have a permanent home.

That said, there has been news about the company signing a memorandum of understanding with Bermuda and Malta, where it could finally find its home base. Binance Futures Hesaplama

Binance’s popularity was due to its user base who liked the low fees, availability of cryptocurrencies and innovative products. Currently, the platform offers a multitude of crypto-based products.

You can access services such as exchange, earn and staking, derivatives loans, payments credit cards, NFTs and more from Binance.

Binance has its own unique tokens, cryptocurrencies and coins. BUSD is a stablecoin. BNB is a strong performer because of its low fees.

However, Binance has its problems and dark sides.

In 2021, the company was investigated by the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses.

The Financial Conduct Authority of the United Kingdom ordered that the platform stop all regulated activities in June 2021. However, this ban had a limited scope and non-registered companies can still interact with UK customers.

Earlier that year, it was set up to launch its own digital asset marketplace in Britain, but it withdrew this application due to not meeting anti-money laundering requirements.

In the same year, Binance was also reported to have shared client information, including addresses and names, with the Russian government. This was a Russian government way of helping them combat crime.

Binance Perks

Large Selection of Cryptos

Given that the company is among the biggest cryptocurrency platforms in the market. Hence, it is no surprise that many cryptocurrencies and other digital currencies are available. Some of them include decentralized finance (DeFi) tokens, stable coins, alt coins, and popular cryptos.

A few examples of this include:

  • Binance Coins (BNB).
  • VeChain (VET)
  • Harmony (ONE)
  • VeThor (VTHO)
  • Dogecoin (DOGE).
  • Matic Network (MATIC).

For those who want them, Binance also offers and support for the more popular cryptocurrencies such as:

  • Dash (DASH)
  • Compound (COMP)
  • Bitcoin (BTC).
  • Ethereum (ETH).
  • Litecoin (LTC).
  • Cardano (ADA)
  • Cosmos (ATOM)

Low Fees

No platform offers trading currencies and tokens for free. However, choosing Binance as your trading platform will give you deals that may as well be free. This is compared to other crypto exchanges that also charge fees and commissions. So far, the highest spot trading fee is 0.1%.

The platform uses a maker/taker fee structure. Fees will vary depending on trading volume or Binance Coin (BNB). balance. The fees for trades that involve high volumes are generally lower. Binance Futures Hesaplama

Users can get discounts on certain services, and this is not all. Such as:

  • Using Binance (BNB) coins in trades
  • If you achieve Very Important Person (VIP status) by trading a certain amount of assets.

However, Binance users still have to pay additional fees. Different fees will apply depending on which type of withdrawal you make and what payment method you use. As a sample, you refer to the chart below

Type of payment Fees
  • Wallet
  • Debit cards
  • ACH Transfer
  • Wire transfer
  • Crypto Conversion
  • Trades
  • Buy/Sell Crypto
  • N/A
  • 4.5%
  • No cost
  • $15 for U.S. Customers
  • N/A
  • 0.00% to 0.1%
  • 0.50%

In a later section, we will discuss fees.

binance-coins-with-dollars

> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <

Passive Income on Crypto Assets

Binance lets you earn crypto assets. These come with different levels of risk. You have two options: earning a higher rate of interest (or more) on cryptos through its staking program, or placing assets in flexible savings accounts to get lower but more consistent rates.

The platform offers more staking options. They also pay higher rates than other exchanges.

For riskier opportunities, you can try to earn income by adding liquidity on pairs of tokens. It is up to you to decide if these risks are worth taking. Before you jump into these opportunities, you need to be aware of what is at stake.

Advanced Trading Tools

Binance’s advanced trading features make it easy to tailor your trading options. It is simple to set a limit on the price at which you can buy or sell crypto. It even accommodates beginner users with its “convert” function.

For veteran traders, the charting tools in the advanced trading interface are something to behold. There is also a Bitcoin futures section that can let people speculate on whether the price of Bitcoin will go up or down.

The platform allows you to sell leveraged tokens in connection to earning opportunities with inherent risk. This is an opportunity for customers to multiply their positions in a particular currency. As stated, this is a risky strategy because it can multiply losses and may even cause traders to lose their entire position.

Binance Shortcomings

This is not for newbies

Binance is not for beginners. Binance is complex platform designed for experienced traders. This platform’s goal is to maximize the profits of these traders.

We have already discussed the risks Binance offers its users in order to make passive income from their crypto holdings. The thing is, most of these features will only be useful when you know what those things mean and what you are doing.

The most risky opportunities are where novice traders and beginners lose their money. It takes years of experience and honed gut feeling to understand the inherent and hidden risks some trades carry with them.

It can be difficult to navigate the vast market selection and in-depth dashboards offered by the platform, especially for those just starting out in crypto investing.

Once you are comfortable with the platform, it will be very simple to manage your assets. Also, for what it’s worth, Binance has a simpler interface designed for first-timers. You also have a lot of educational resources.

While Binance is not that beginner friendly, it still has a lot of resources to help those who want to learn. Binance is not the place where you can just buy Bitcoin and then relax. Binance Futures Hesaplama

Pay attention to regulatory matters

As we have already mentioned, Binance has faced many problems. Major countries that have it in for Binance include Japan, the United Kingdom, Canada, Singapore, and Thailand.

The United States authorities are currently investigating the platform in regard to possible money laundering, tax fraud, and insider trading. Binance has not been charged and no criminal charges have been filed. Only time will tell if anything comes out of this.

In response, Binance has taken steps to strengthen its compliance team and keep regulators onside. However, this could prove to be a difficult endeavor as most of the products that make Binance attractive to customers are also the ones attracting regulatory attention.

It is not available in the U.S.

Due to US regulations, Binance.US was created as a separate platform for U.S. customers. The U.S. version Binance offers fewer features and less cryptocurrencies.

Binance.US trades more than 120 cryptocurrencies, but does not offer futures trading. Also, it lacks availability as it is not available to the whole country. It is not available in Hawaii, New York or Texas.

stock-market-data

> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <

How it all Works

Now that we’ve seen some of the good and the bad of Binance, we can finally talk about how it works.

Binance is a cryptocurrency exchange, as we all know. It offers a wide range of services. These include:

  • Buy, Sell, or trade cryptocurrency
  • Establish recurring purchases
  • Earn passive income
  • Access advanced features such as crypto derivative products, limits orders, and peer-to-peer trading
  • Trade non-fungible tokens (NFTs)
  • Participate in Binance’s Launchpad and Launchpool to get exposure to new cryptos
  • Get portfolio insights and live tracking, as well as alerts
  • Keep track of your tax obligations with its tax reporting tool

It is important to remember that many regulatory agencies around the globe have been focusing on Binance’s wide range of products. Binance warns users about the potential risks of investing on the platform.

The system also features an anti-addiction feature in case traders get too involved with trading. The system warns traders about the risks involved in trading derivatives if they suffer heavy losses or a losing streak. They are encouraged to take a break from trading and rest.

The platform believes responsible traders should be critical and keep themselves in check to avoid harmful excesses like compulsive trading or gambling.

These are all just reminders; ultimately, it is up to the retail investors how they manage the risk and how they should keep their money.

Signing Up to Your Binance Account

Creating and registering your very own Binance account is simple and can be done within a few minutes. There are two types of accounts available: unverified and verified.

For Unverified users:

  1. Register on the Binance homepage
  2. Enter your email address
  3. Set up a password
  4. Accept Binance’s Terms of Use
  5. Click “Create an Account”
  6. Register by email to confirm your registration

For Verified Accounts

  1. Register now for an unverified Account
  2. Login to your account
  3. Go to User Center and click Identity Verification
  4. Choose Personal
  5. Fill in your Details
  6. Choose an ID type for document verification, such as a Passport or Driver’s license
  7. Upload a file or take a picture of the document
  8. Take a photo of yourself
  9. After uploading the required document and photo, click confirm.
  10. Binance will then review your submission as soon as they can. Binance Futures Hesaplama

From then on, you will have to wait for an email from Binance to ensure that your account has been verified.

Trading Experience

Binance provides a wide range of trading tools, as we have already mentioned. Some of these tools include their real-time charting tools with moving averages and exponential moving averages. Trading is also convenient and accessible, as users can place trades through the Binance app, Binance website, or Binance desktop app.

The platform allows traders to view their trade history and portfolios. The platform allows them to view their order book and price charts. You can also choose from a variety of order types. They can stop orders, limit orders, stop-limit orders, stop-market orders, and trailing stop orders.

Also, users can choose different trading views to easily comprehend data or view them in a way they prefer. There are many views to choose from, including classic, margin and OTC views.

increasing-value

> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <

Trust Wallet

Binance offers a custodial wallet on its platform. Trust Wallet is also recommended by Binance, which supports thousands upon thousands of cryptocurrencies across all major blockchains. It is easy to withdraw from Binance to a Trust Wallet or other external crypto wallet.

Withdrawals are usually completed in 10 minutes and the fees are very low. To verify your account, you will need to enter some personal information. You can use Binance on a variety of platforms, including mobile and desktop.

Fees

We all know that one of Binance’s selling points is its low fees. However, this does not mean that users are free from all charges. Users of Binance are still required to pay fees for using the platform.

Deposit and Withdrawal Fees

The currency used to pay and the method of payment will determine how much deposit fees are charged. While it is usually free to make a bank transfer, fees will usually be there for debit card payments.

Binance may allow you to make credit card or debit card payments, bank transfer, and peer-to-peer payments depending on where you live.

You can withdraw money as a fiat currency from a bank account. You can also withdraw cryptocurrency to a wallet, or another exchange. These withdrawal fees and minimum amounts are determined by your currency and method. Binance Futures Hesaplama

Trading Fees

The trading volume and trading history over the last 30 days will determine the percentage of your trading fees. It will also impact the amount of BNB that you have.

Maker orders, which add liquidity to the market, will get lower fees than taker or remover orders.

It also encourages users to use their native currency, Binance Coin (BNB). Anybody who does so will receive a 25% discount on their trading fees. Binance offers 0% trading for selected Bitcoin and Binance USD pairs (BUSD).

Below is a chart that shows how VIP status and the 30-day trade volume are related to maker/taker.

VIP 30-Day Trade Volume (BUSD) Maker/Taker
0 Below 1,000,000 0.10%/0.10%
1 1,000,000 to 4,999,999 and at least 25 BNB 0.09%/0.10%
2 5,000,000 to 19,999,999 and at least 100 BNB 0.08% / 0.10%
3 20,000,000 to 119,999,999 and at least 250 BNB 0.07% / 0.10%
4 120,000,000 to 199.999.999 with at least 500 BNB 0.07% / 0.09%
5 Between 200,000,000 and 499,999.999 and at most 1,000 BNB 0.06% / 0.08%
6 500,000,000 to 999,999,999 and at least 1,750 BNB 0.05% / 0.07%
7 Between 1,000,000,000 and 2,499,999.999999 and at most 3,000 BNB 0.04% / 0.06%
8 2,500,000,000 to 4,999,999,999 and at least 4,500 BNB 0.03% / 0.05%
9 More than 5,000,000,000 and at least 5,500 BNB 0.02% / 0.04%

Security

Binance is a platform that handles sensitive and high-stakes data. It should be expected that it has strong security measures to protect their assets and clients.

Binance includes two-factor authentication (2FA) via the Google Authenticator app or short message service for the customer side. It uses address whitelisting, device administration, and the ability restrict device access.

Binance claims that it has its own insurance fund. Binance stores 10% of trading fees in a safe fund. This insurance fund is supposed to protect against hacking losses, which Binance is well-versed in (more later).

Although this insurance does not provide the same protection as third-party insurance, it can give some protection.

Binance also keeps its most important security feature, its funds, offline, in cold storage. This is done to prevent hackers from getting in touch.

That said, customers should still be wary of Binance since its security needs a better track record. In early 2019, the platform was hacked for $40 million in BTC. It also suffered another major hack in October 2022, this time costing them $570 million in BNB.

There is a silver lining to this. Sometimes, it would be more beneficial for exchanges to experience these incidents so that they can determine which part of their security to fix. As for the customer side, at least they can see how the platform handles themselves and their customer base whenever these cases happen.

In Binance’s case, they quickly responded and immediately reimbursed anyone affected by the hack through their Secure Asset Fund for Users (SAFU). This cold storage wallet has enough capital to cover losses.

Customer Service

In terms of customer support, Binance offers three basic options. You can submit a ticket, ask a basic question through chat, and reach out via Twitter.

To obtain tickets, you simply need to complete a form on Binance’s website. You will be able to get email assistance by submitting a ticket.

If you are approaching them through Twitter, you only need to tag or mention Binance on their Twitter account (@BinanceHelpDesk) for support. Because it is more visible, Binance encourages users to tweet about their problems through this channel.

If you need to get in touch with Binance directly, there is a chat box at the bottom right corner. This can be accessed on the Binance website.

lucky-coins

> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <

Binance Pros and Cons

Pros

  • Low fees

Low fees are one of the main reasons Binance is a top choice for crypto exchanges. It is a no-brainer. After all, if a platform asks for lower fees, crypto traders and investors get to keep more of their investments and earnings to themselves.

  • You have the ability to make passive income in many different ways.

It is impossible to not desire passive income. It is like getting paid while doing nothing, and Binance has a lot of opportunities for doing so. These opportunities come with inherent risks. These opportunities are not for the weak-hearted. Binance Futures Hesaplama

  • Wide selection of Cryptocurrencies: From Bitcoin to Dogecoin and Etherium, there is no shortage of cryptocurrency you can buy from Binance. And that number is growing, with newly added cryptos like Fish(FISH) and Fanverse (FT).

The platform even has its crypto in the form of BNB. This allows crypto investors and traders flexibility in making their selections.

  • Advanced Trading Tools

The tools that a trading platform provides to its users will determine how good it is. In the case of Binance, it gives users enough tools for a more flexible trading experience. Investors and traders will have no trouble trading on the platform.

  • Multiple ways of Depositing Money

If you don’t have any money to invest, trading is impossible. That is why, Binance allows for easier access and start to crypto trading through its multitude of ways to deposit funds

  • Flexible Order Types and Trading Options

Trading is like gambling. The assets and stock own may be valuable now, but you will never know when their values will drop. As such excellent trading platforms like Binance should provide users the flexibility to do their trades in a matter, they see fit. Binance Futures Hesaplama

Cons

  • Platform can seem overwhelming to beginners.

Multiple options and advanced tools can be a bad thing. Seeing a multitude of selections can easily overwhelm beginner users and might paralyze them from the sheer number of options given. Some experienced traders even claim they are intimidated by Binance’s many available options.

  • Regulation issues in many countries

Binance has been faced with numerous legal and regulatory issues. In fact, this is a glaring issue that has multiple investors considering other exchanges.

Despite this, the platform is working hard to resolve these regulatory issues.

  • Not available in the United States

Due to issues with the United States regulatory bodies, Binance was somewhat banned in the country. That is why the parent company created Binance U.S., a U.S.-exclusive version of the platform.

However, Binance U.S. is more limited than the original Binance. Furthermore, it is also not available in some U.S. states like New York and Vermont.

  • There is no built-in digital wallet

Many popular cryptocurrency exchange platforms include their digital wallets as part of the platform. For some reason, Binance does not. Rather it recommends a third-party service called Trust Wallet. While it has a good reputation, there might be issues as they can only offer limited support Binance Futures Hesaplama

Binance Last Thoughts

Let me start this final thought by saying that I am a noob when it comes to crypto. My knowledge is based on a few YouTube videos, articles here and there, as well as some Reddit threads.

I chose Binance for the main reason that many choose the platform, and that is because of its low fees. I joined cryptocurrency to find out what all the fuss was about. This is not something I intend to take seriously.

Creating my account from scratch and verifying it took no time. In a matter of minutes I was able to view the UI and all the features offered by the platform. Let me tell you…..

So with confidence, I can honestly back the opinion that Binance is not beginner friendly. Binance presented me with a lot of options that were overwhelming and intimidating. I had to get a friend to teach me what all the stuff was all about.

So with his help, along with some tutorials found in Binance Support, I was able to get some of my bearings and begin trading. Though it still gets confusing, I’m getting the hang of it.

Right now, I hope I bet on the right horse, not the wrong one.

coin-standing

> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <

Binance Frequently Asked Questions Binance Futures Hesaplama

Binance is safe?

Yes, it is safe, but it does not have a good track record.

Binance does have its own security measures, but it has been hacked twice. Although the company increased its security, it will be determined if they can withstand attacks.

How do you decide if Binance is right for you?

It is hard to determine which platform is right for your needs until you have read the reviews and tried the services for yourself.

However, for the sake of having an answer, you may deem Binance is a right fit for you if:

  • You are not a newbie in crypto trading, and you have intermediate to the advanced crypto trading experience.
  • You want a service that charges low fees and carries many currencies.
  • You’re looking for advanced features in your service.
  • You are an institutional trader carrying a high or ultra-high net worth.
  • You are not a citizen of the United States.

Bianance offers FOREX trading

Binance doesn’t offer Forex trading (Foreign Exchange Trading) traditional Forex.

The main reason is that it lacks the amount of currency pairing needed to join the FOREX exchange. A company must have access to thousands of currency pairings in order to be able enter FOREX-only markets. This is quite a distance from Binance which has only 50 currency pairs.

Does Binance Offer CFD Trading?

Binance offers CFD (Contracts For Difference) trading.

They are still controversial in crypto, and many prefer native assets. Unlike CFD’s, these assets can easily be withdrawn to a personal wallet. However, CFDs have their advantages. For one, they can be very liquid.

error: Content is protected !!