Binance

Binance

Founders

Changpeng Zhao, CEO has been the founder BijieTech, an Exchange systems provider. Zhao’s company Beijie Technology created the exchange after a successful ICO that raised $15 million. Zhao was the co-founder and CTO of OKCoin. He has also served as the Head of Development of Block Chain.info. In 2005, Zhao co-founded Fusion Systems Ltd, a company that specializes in ultra-low-latency trading systems for brokers. Prior to Fusion Systems, Zhao was the Head of Development at Bloomberg Tradebook Futures for 4 years, in New York.

Key features

  • High liquidity in many different assets, not just Bitcoin but other top altcoins
  • Does not accept multiple fiat currencies
  • Availability in multiple languages and neat and friendly user interface
  • Enables processing the orders at an extremely high speed
  • Platform is highly secured by the use of CCSS and ISO/ICO_27001:2013protocols
  • Low transaction cost including 0.1% trading fee, deposits are free and withdrawal fee applies and varies with according to the type of transaction.

Account Opening

Register and verify your email address for the account to become operational. After successfully registration, a trading account can be funded, simply by clicking Deposits and Withdrawals on the top Funds menu of a user’s dashboard of the desired currency. Here, accounts can be funded using BTC, ETH, LTC, NEO and BNB. Users have to select their funding address, the token they will be funding with, and send funds accordingly. After successfully funding a Binance trading account, users can start trading any listed digital assets. Funds can be received from other exchanges or wallet using the Binance address as long as the cryptocurrency is accepted.

After confirmation of transactions, it takes a few minutes before it shows in the wallet. Once it appears on your balance, you click on the In Order button. To buy a currency, select the currency you are buying, enter the desired amount of purchase, set the buying price and hit the Buy. Once the transaction is verified, currency will appear on the Funds areas of account. To withdraw earnings, however, withdrawal limits are set in accordance with two tiers of full account authentication. At Tier 1, users can withdraw the equivalent of 2 BTC worth of cryptocurrency per day. Tier 2 users, can withdraw up to 100 BTC.