2024 Recommendations｜Binance Exchange Introduction, Registration Benefits, Deposit Tutorials, Security,Handling Fee, Features
Binance Exchange Introduction
Founded in June 2017, CoinSafe grew to become the world's largest cryptocurrency exchange within 180 days.
The global company was founded in China by Changpeng Zhao and He Yi, nicknamed CZ, a Chinese-Canadian developer and business manager who now serves as the company's CEO. He attended McGill University in Montreal and is an accomplished entrepreneur. He was previously head of the Bloomberg Futures Trading Book R&D team, founded Fusion Systems, and served as Chief Technology Officer at Blockchain.com. He is also the Chief Marketing Officer of Coin and Head of Binance Labs, the venture capital arm of the company. He was previously Vice President of Yixia Technology, an industry-leading mobile video technology company, and co-founder of OKCoin, a digital asset exchange.
According to the terms and conditions of use of Binance, the restricted areas include the United States, Singapore, and Ontario, Canada. There are other countries that have restrictions on the use of Binance due to regulatory issues, such as China, Malaysia, Japan, the United Kingdom, and Thailand. Futures and derivatives are not available in Germany, Italy and the Netherlands. In September 2019, Binance.US was launched for US users.
According to CoinMarketCap Data shows that Binance is currently averaging nearly $300 billion in daily trading volume during the bear market, with over 100 million users registered worldwide, making Binance the world's number one cryptocurrency exchange.
Binance is ranked #1 on CoinMarketCap for comprehensive derivatives trading.
Binance Exchange Main Features
Deposit Function
Purchase cryptocurrencies through credit cards, C2C, bank wire transfers (in USD), etc.; or store cryptocurrencies from other exchanges/wallet addresses.
Spot Trading
The Coin Exchange is one of the platforms where you can exchange BTC for a certain amount of USDC, or USDT for ETH, and the exchanged cryptocurrencies will remain in your exchange wallet, ready to be transferred, withdrawn, or used for other purposes.
Leveraged transactions (borrowings)
A way of trading assets using funds provided by a third party, leveraged trading enables traders to access more funds to support their positions than conventional trading.
Strategic Trading (Grid)
Grid trading is a quantitative trading strategy that involves automatically executing buy lows and sell highs in order to obtain swing gains in oscillatory regions.
Contractual Transactions
It is a short-term trading tool that can be used for speculative operations through leveraged trading with less capital and lower transaction costs. The transaction cost of contract trading is only about 20% or even lower than that of general spot trading, and it also allows short trading and hedging of spot positions, so for those who want to do large amount of short-term trading, contract trading will have more flexibility than holding spot.
Coin Ampoule
Binance Savings is a cryptocurrency investment and financial management function of Coin, which provides a variety of cryptocurrency financial products for us to subscribe, including many fixed-income items, so that our idle assets can have a place to earn interest, similar to the concept of the traditional financial savings, fixed deposits, and fixed investment (fixed-term fixed deposit) plan.
Locked Position Gain
Also known as Staking, it refers to the process of locking up digital assets for a specified period of time in order to earn a return.
Binance Exchange Security
Money Security stores 10% of all transaction fees in the "Investor Protection Fund" (SAFU - Secure Asset Fund for Users), which has a size of more than US$1 billion, and its wallet address is open and transparent. In the event of a hacking attack or an incident affecting user funds, this pool of funds will be used to compensate users. What this means is that CoinSecure has a 1:1 reserve (and partial reserve) of all user assets, zero liabilities in CoinSecure's capital structure, and ensures that there is a contingency fund (the SAFU Fund) available in the event of an extreme situation.
Binance has recently releasedWallet Address和 Nansen Control PanelThe company has also developed a Merkle Tree and conducts regular PoR audits, allowing users to easily identify assets that Binance is holding at a safe 1:1 ratio.
Mr. Changpeng CZ Zhao, CEO of Coin, responded to a community question at Coin's Twitter Space AMA, saying:
The business is simple and transparent, with no liabilities and no assets in the custody of a third party. The team does not engage in quantitative trading and relies on fees to generate profits, and has only invested in the equity of one market maker organization. He also said that in a bear market, if the exchange's published reserves do not contain a significant proportion of stable currencies, but mostly other currencies, there may be problems. cz emphasized that the proportion of currencies in CoinSafe's reserves is very healthy, with a significant proportion of stable currencies.
In light of the fact that exchanges have been busy with Proof of Reserve (PoF) issues, he and Vitalik Buterin have communicated and agreed to work together to launch a new way of proving PoF on platforms, with Cryptocurrency On as a pilot. When the community asked CZ for further details, CZ said that there are no details on the new PoF method yet, but Vitalik has already put forward a lot of ideas on the matter.
Is the handling fee expensive?
- If you do not intend to use BNB (BNB) to pay the transaction fee, a standard fee of 0.1% will be charged for each transaction.
- Discounts are available for using BNB to pay transaction fees.
- If you hold a BNB, the default transaction fee will be deducted directly from your BNB balance.
Advantage Analysis
Disadvantage Analysis
Binance Basic Registered Teaching
Step 1: Press hereRegistration BenefitsEnter the registration page (Invitation Code: EC2MXK2A)
Step two:Enter your email / cell phone number and password
In this step, users are free to choose to register by email or cell phone number.
Step Three:Enter the validation code on your mailbox/mobile phone.
Step 4: The first stage of registration is completed after the input. Although the account has been successfully opened, if you do not complete the KYC certification process, the functions available to the user on the platform will be limited, so remember to do KYC!
Binance P2P/ C2C Deposit Teaching
If you're new to the cryptocurrency world and don't have a lot of assets on hand, or if you simply want to convert your cash into cryptocurrencies and invest in various cryptocurrencies, it's actually the easiest and most direct way to use Binance's P2P/C2C method to buy stablecoins USDT or USDC, and you don't have to pay any handling fees during the process!
Because C2C is essentially a private form of "over-the-counter" trading and Binance only provides a platform, Binance requires that every Binance C2C merchant must go through a rigorous KYC identity verification process (Know Your Customer) before they can be approved to sell coins on the Binance C2C / P2P platform. In other words, if a seller is dishonest in any way, Binance can chase them to the ends of the earth.
Computer version: Go to the homepage → "Buy Coins" → "C2C Express".
Mobile version: On the left side of the homepage → "C2C Trading".
Binance will filter the sellers according to the currency you choose, the amount of money, the French currency used and the payment method, the seller's name will be displayed below the number of orders within 30 days and the completion rate, so I recommend that you choose the seller with a large number of orders and a high completion rate.
After confirming that the payment has been successfully completed, click on "Completed Payment". binance offers a live chat room where you can inform the seller/buyer when the payment has been completed.
The waiting time for Binance P2P is generally not very long, and once you have received the tokens, you can confirm it in your asset "Funding Account". If you do not receive the tokens after a long time, you can file a complaint with Binance, but in the meantime, remember not to cancel the order.
Disclaimer
The content of this article is for reference only, investors should exercise independent judgment, invest prudently and at their own risk, this article does not provide or attempt to persuade the audience to do trading or investment basis, the content is for sharing purposes only, and should not be regarded as investment advice.It does not represent the views and position of Monsterblockhk.All information and opinions are current as of the date of the judgment. In addition, if a judgment is rendered on aIn this siteAny content related to virtual asset trading platforms that have not yet obtained a license to operate virtual asset trading platforms in Hong Kong, including but not limited to text introductions, pictures, offers, events, etc., are only available to users outside the Hong Kong Special Administrative Region.
According to the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022, after June 1, 2023, all centralized virtual asset trading platforms operating in Hong Kong or actively promoting their services to Hong Kong investors will be licensed and regulated by the SFC, and any related unlicensed activities will be a criminal offence. For more information and details of the legislation, users may refer to the SFC website.