Binance review, What is Binance? What is Binance and how it works?

Binance review

Binance is a Hong Kong-based cryptocurrency exchange. It was launched in July 2017 and has since been the undisputed leader in trading volume among cryptocurrency exchanges. According to Bloomberg, Binance’s annual trading volume through the end of 2021 is comparable to other industry giants:

Binance Cryptocurrencies

Binance supports over 600 different cryptocurrencies. This makes it one of the most supported crypto exchanges on our full list of exchanges. The platform also has its own quality control system. The system removes projects that have already been superseded, but that later no longer meet the eligibility requirements.

Trading options are basic and advanced

Binance users can choose between two different trading alternatives. The first is called Basic and is not as good as the Advanced version for those interested in more sophisticated technical analysis. However, none of them are particularly affordable.

As you can see in the picture, the basic trading view is very simple and easy to understand in nature. The most important information is on one page. Prices are on the left, charts are in the middle (with call and put options) and history is on the right.

In the extended version, saves take up more space. As in the base version, the trading history is on the right. But here the two-chamber windows are located in the lower right corner (and not in the lower center, as in the basic version). Everyone, of course, decides which shopping corner is best for them.

There is also a version called "Binance Convert" which is the easiest to understand and navigate.

futures trading

Binance officially launched futures trading on September 17, 2019. Futures contracts are also called options contracts. An option contract is a contract that gives the option holder the right, but not the obligation (hence an "option"), to buy (put option) or sell (put option) a specific asset at a specified price. Some options give the right to exercise the option at any time (before the contract expires), while other options can only be exercised at a certain time. The former is known as US options and the latter is known as European options.

Here you can trade four different types of futures: USD-M Futures, COIN-M Futures, Binance Leverage Token, and Binance Options. USD-M futures consist of unlimited or quarterly contracts settled in USD or BUSD. COIN-M futures contracts are perpetual or quarterly billed cryptocurrency contracts. Binance Leverage Tokens are all you need to trade with leverage without the risk of liquidation. Finally, Binance options are what Binance itself calls “simplified crypto options”.

Binance OTC Trading Portal

Binance also has an OTC open table. The Over-the-counter (OTC) portal allows you to make big trades without the risk of a 'slippage' that we call price movement through big trades.

The Binance OTC trading portal promotes "hassle-free trading" and "broad support for digital assets".

The OTC trading portal has minimum trade size of $200,000 and there will be 25 different coins and tokens available for trading initially. To start trading, users must have a verified KYC account (Level 2) on Binance.com.

American investors

Binance has long accepted US investors to trade on the stock exchange. However, on June 13, 2019, they announced that they were launching the American version of the trading platform. Binance.US was launched in the same year.

Binance.US is a separate company from Binance that is the subject of this review. Binance.US is a US-regulated and licensed digital asset marketplace. The platform was created to provide Americans with access to cryptocurrencies, and they recently added their 42nd state in November 2020, “Working tirelessly to expand their reach to the United States.” Binance.US offers 40+ cryptocurrencies, 100+ trading pairs, 6 staking coins, and a recently launched SEN integration to help our institutional clients.